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BizReport : Ecommerce archives : October 18, 2013

Top tips for brands looking at international expansion

Building your company on foreign territory is like starting your company from scratch again, and it takes time but not always tons of money. One expert offers advice on how brands can proceed with caution but still make a strong push into the international space.

by Kristina Knight

Mik Stroyberg, Founder & CEO, Lemonsqueeze: Big corporations aren't the only ones talking about taking the chance of entering a new market in an unknown country; small companies with great ideas are considering the expansion too. It doesn't have to be extremely expensive to start up overseas if you do it right.

Kristina: What obstacles do European brands face in expanding to the U.S.?

Mik: The number one problem for both European companies entering the U.S. market and U.S. companies starting in the U.S. market is getting the traffic and hooking the consumer. The competition in the U.S. is extremely high, and getting consumers to find your shop, product or service is obstacle number one. In general, for European companies, getting started is the hardest part. You need to find an office, hire employees, get insurance, get the ex-pats settled in apartments, obtain visas, and, most importantly, start building a network in a totally new area. Everybody has a network somewhere, but it is overwhelming and hard to settle with a new entourage and circle of trusted partners.

Kristina: What are your top 3 tips for businesses planning a US expansion?

Mik: 1) Build a road map.
2) Set milestones.
3) Get help from already established companies

Tags: business expansion, international business, Lemonsqueeze, small business tips

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