Webexpenses, who already have offices in the UK and Australia have opened their first US office this week in Austin, Texas as part of an ongoing global expansion program.
Here are our 3 top tips to help businesses on their journey to international growth.
1) Do your research
Make sure you select a location that your company will be able to thrive in, this means doing your market research and knowing your audience. For us, we knew that in most countries the expenses process is fairly similar so our software would be easy to embed and bring value to the local market.
It’s important to research your competitors to see how your product stands out and in turn get to know your audience to understand their needs to ensure you are focusing on the right messages and value that your product can bring.
Selling, marketing, business terminology and concepts can differ greatly to each country and therefore you need to have a strategy and strong team in place to hit the ground running.
Being fully informed and educated on the variation of tax rules, cultural differences, time difference and how you will maintain a strong sense of communication. This organisation also enables you to preempt potential difficulties and how you will go about managing them.
3)Set realistic goals
Plan how to market your brand and how much it is going to cost the business. Think realistically about what you want to achieve long term, things take time and you have to make sure your product will become well established and build credibility around your brand and service. New sales executives will take a period to ramp to full capacity and the success is based on having the right network in place, with marketing, support, management and processes in place.
Check out the webexpenses Business Travel Map of America and see what some of the top business expenses are in the USA.