Companies can use this planning guide to evaluate their market expansion readiness. Learn if there are areas you need to focus on or steps you need to complete, before beginning the expansion process.
Save time and money by preparing all your documentation in advance.
To learn more about all the Market Expansion USA Programs and to Access the Market Expansion USA Planning Guide – REGISTER HERE.
The Market Expansion USA Planning Guide covers areas from legal requirements, accounting and taxes, budgeting and sales and marketing.
Companies have the opportunity to share the planning guide with different individuals in their companies, based on their area of expertise and responsibilities.
The guide is broken into sections and has multiple categories of information in each section.
Sections also include
- Video information
- Links to additional resources and training
- Forms
- Templates
- Checklists
- Summaries
- Worksheets
The Market Expansion USA Planning guide was designed as a tool to be used by companies to help in their evaluation of the US Market before investing in the actual expansion expenses.
The guide is also designed to help international students learn about doing business in the US Market and become valuable employees to companies that do business internationally.
The planning guide is divided into easy-to-follow Sections and is intentionally designed to utilize social micro learning to offer the information in concise topic modules averaging 3 – 5 minutes to review.
The forms and worksheets are designed for more detailed discussion and engagement with the company team members responsible for the planning process for new market expansion.
Before entering a market, conducting market research helps in planning, budgeting, financing, and setting clear entry strategies for success.
Why clear objectives are necessary
This guide offers checklists, resources, industry links, and planning tools and templates. Assessing your current business status will help you identify and address any existing gaps, enabling you to establish suitable goals for the future.
How to set SMART (Specific, Measurable, Achievable, Relevant, Time-bound) objectives.
What is the current status of your company? How are you currently reaching out to your customers? How will you determine the pricing of your product in a new market?
Analyzing
Developing both short and long-term business goals is to identify the things you want to achieve in the following years for your company’s growth, financial goals, exit strategy, and more.
Planning
Budgeting for your business involves making informed predictions about your company’s financial outlook. To make sound financial choices for the future, it’s essential to analyze the financial data from the previous month, three months ago, and the same month from last year.
Budgeting
Budgeting for your business involves making informed predictions about your company’s financial outlook. To make sound financial choices for the future, it’s essential to analyze the financial data from the previous month, three months ago, and the same month from last year.
Direct Sales
Selling your product directly to customers by leveraging a live and/or online sales team.
Distribution
Offer the company’s products directly to regional distributors for sale or lease.
Licensing
License your product or technology to companies that are currently selling products to your target market and potential customers.
Consultants and Advisors
If your company is expanding to a new market, especially a new country, you will need to consider having local advisors in the new market before you begin a market entry. Choose a firm that understands international laws and accounting if you are operating in more than one country.
Communication
To work effectively with consultants, it is crucial to establish clear expectations and deliverables. This involves closely monitoring the project scope. Additionally, consider offering the company’s products directly to regional distributors for sale or lease.
Visit the New Target Market
If you are determined to enter a market successfully, you must visit and immerse yourself in it.
Learn about new Target Markets
Engage in live and virtual training, workshops, and discussions with prominent government and industry leaders across various markets as part of your new market expansion strategy.
Research Key Industries
The Key Industry market research you conduct on potential new markets can help you develop your product (or service) development strategy, as well as inform how you model different growth scenarios with your sales forecast. Secondary market research resources can include trade associations, government information, third-party research sites, and both free and paid online tools.
Visit the New Target Market Virtually
Engage in virtual and live trade missions, conferences, and industry trade shows within your selected target market.
Open an Office in the New Market
Collaborate with your local advisors to discover the ideal spot for setting up a physical or virtual office in the new market.
Follow Local and Regional Registration Laws
Register your business name with state and local authorities. and register with the necessary federal agencies.
Setup Bank Accounts and Payment Methods
Engage in virtual and live trade missions, conferences, and industry trade shows within your selected target market.
Create your Pre-Launch Plan
Engage in virtual and live trade missions, conferences, and industry trade shows within your selected target market.
Federal, Regional and Local Agency Links
Additional Training Videos
Templates
To learn more about all the Market Expansion USA Programs and to Access the Market Expansion USA Planning Guide – REGISTER HERE.