By Chris Smith, CEO at Myjobmatcher.com
As a brand grows exponentially in the UK, it is only natural that the next step will be overseas expansion. The US recruitment market is one of the most competitive and challenging sectors to be in – but the lucrative rewards well outweigh the initial outlay. Here are four steps that we’ve taken to ensure that we’re ready to hit the ground running as we take Myjobmatcher.com global.
1. Recognise cultural differences
Think you understand overseas markets – and that they will immediately understand you and your brand? Think again. The first thing to recognise when looking to expand overseas is that you have to prepare yourself for the practical and cultural idiosyncrasies of your new market. They can be vast and varied.
With this in mind, and to put your company in the best possible position to take advantage of the huge opportunities your move will bring, base yourself overseas for the first few years. Immerse yourself in the business culture and be the eyes and ears of the business. Don’t simply expect to move your brand overseas and become and instant success.
2. Recruit, recruit, recruit…
Don’t wait until you’ve set up your office before recruiting. It will be an incredibly lonely place. And don’t think of simply bringing your best people from the UK and expect them to be a similar success overseas. Recruit from the local talent pool – identify people who have an industry track record and choose suitable candidates who will drive sales before you make your big move. Throughout this process take the counsel of industry luminaries and use recommendations from European partners to maximise networking opportunities that will help your business to grow.
3. Location is everything
Your new overseas office is your shop front; it’s the first thing people will notice about your company. Make sure your new premises are surrounded by other like-minded businesses. After all, success breeds success. Enlist the help of industry contacts in your new territory to give you help and advice on where you should base your new venture, and, if possible, ask them to do the practical ground work to support the launch. From sourcing offices, through to introductions to key business luminaries, exploit every opportunity to build gravitas and network – specifically with companies who have access to potential clients.
4. It all begins at home
Hit the ground running, in so far as you can, by completing as much of the pre-sales leg work as possible from the UK. Put the foundations in place before you get out there by agreeing funding, buying as much data as you can and forging partnerships with individuals and organisations who will give you a real head start when you launch overseas.
Whilst all of this activity doesn't guarantee immediate success in the US, it does mean that you will give your company the best possible chance to succeed in a new and exciting marketplace.