The U.S. is a great way to push your startup internationally. And with German Accelerator, you have the opportunity to build up your business in the land of unlimited possibilities. In order to deepen this topic and to summarize the most important aspects a company has to consider when entering the U.S. market, our Company Scout Nicolas Hantzsch organized our first German Accelerator Webinar together with Matthew Listro.
Matthew is a co-founder of Harbinger Strategy. He works with German founders as well as with founders from all over Europe. For more than five years he has been helping companies to expand into the US, and many successful companies have emerged. In order to make it in the U.S., companies should have gained a foothold in their homeland. The advice of experienced mentors and serial entrepreneurs is really valuable and helpful in order to develop the right strategy.
Nicolas Hantzsch is company scout at German Accelerator based in Berlin. He is also advising Edeka Food Tech Projects and works on OysterBay Venture Capital which is a European later-stage fund focusing on better-for-you food and beverage products as well as food-tech. He also considers himself to be a motivational leader, executer and communicator with a growth mindset.
Due to the fact that there are many companies in the U.S. market, there is a lot of competition. It is therefore essential to stand out from the crowd and follow an impactful strategy. A third of the overall success can be achieved through the right sale. The crowded markets are full of good salespeople with – continuously growing – high salaries, so it is also important to use the right resources. The most successful products are not the best products, but those with the best and most complex sales process. The strategy to drive the product forward is therefore crucial. But of course, it is important not to lose sight of the product itself – and even if a good sales force can be very expensive, young companies should invest in it. A successful sales team consists of a seller, someone for content, lead generation and strategy.
Another point to keep in mind when conquering the U.S. market is the most important factor for success – your own team. Most startups start with two to three employees. If the company is already established, it is ultimately a matter of employing specialists. Each team needs different functions and each function needs experts who take care of the respective area and know what they need to do in order to be successful. Sometimes, it can take three to four months to find the right expert.