Market entry Advisory

How to get a successful start on the North American market

Are you considering expanding your business to the North American market? Establishing your Danish business on a foreign market can seem like a challenging and time consuming task with many unknown factors. In this article, you get advice on how to avoid the most common pitfalls and challenges.

In this article, our Commercial Advisor Oliver Hede offers you six pieces of advice on expanding your business to the U.S. to give you the prerequisites for a succesful start on your export adventure.

Be prepared for high costs
The U.S. is one of the most lucrative markets to do business in if you are to succeed. However, you should be aware of the fact that there are many costs associated with entering the U.S. market. This is among other things due to higher requirements for product approvals and varying legal and tax conditions between the states, where external advisers are most often needed.
Acquaint yourself with your customers' situation before you contact them
It is alpha and omega that you familiarize yourself with your customers' situation, including challenges they might face and local conditions, to convey the effect and results your product can create for them.
Seek out the decision-makers
In the U.S., job titles and organization charts play a much more significant role than we are used to in Denmark. Therefore, you must get a hold of the right people at the proper management level from the start.
Be patient
The U.S. is a large and complex market where you do not succeed from day one. Consider if you are willing to dedicate the time and resources it takes to enter the market.
Do not spread your resources too thin
The U.S. is a large and complex market, and it takes a lot of work to get at a business deal. Focus your resources on one area and take it from there.
Pay attention to regional and local conditions
The U.S. is not just one country, but 50 different markets. Tax regulations, working conditions, and insurance agreements depend on the individual state, and there can be a big difference in how you do business in e.g. Maryland and South Dakota.

It can be challenging to assess whether the time is right to enter the North American market. The Trade Council can help you identify market and project opportunities and ensure access to the right decision-makers. Do not hesitate to reach out to our advisors if you want to know more. To read more about the services we offer, click here.