VIDEO: How to sell your product in the US
In today’s global economy, even startups should think big and set their sights across the pond. When we sent three startups to Detroit, it was the perfect opportunity for them to quiz a few experts on how best to expand to the US – watch the video below for the lessons they learned.
Tom Wood, Rapha
“Setting out you strategic business plan first and getting it completely nailed down is always the first step before thinking about how you can fund this,” says Tom Wood of Rapha. “Try and take a strategic view so you don’t have to backtrack and make decisions you regret.”
Another tip from Tom is to think about how international factors can affect your business. “It’s really important for you and for any business to think about what the right positioning in each market is, and the impact of differential pricing,” he advises.
Julie Deane, Cambridge Satchel Company
“You need to be 100% sure who your manufacturer is, that they are doing nothing underhand, and that there are no health and safety issues,” advises Julie, of the Cambridge Satchel Company. “You need to make sure your manufacturer can prove all these things, especially in the US market, where they are really stringent on these things.”
Rob Love, Crowdfunder
“Don’t overstretch yourself,” is the advice from Rob Love of Crowdfunder. “You want to make surer you have the same partners and that you still have control over things - don’t go too far too soon. For me, get it out there and see what starts to happen when you get some traction – then evolve it.”