When you go to Europe, it is important that you respect the culture and try to understand their view of the world. At the same time, you must dare to dream and stand by your product and your company.
In the first two steps of the COURAGE model, you have gotten to know your customers and the European market. Based on both elements, we now reach the; U – Unfold cultural differences - where you start to act on your knowledge in the right way.
When you enter the European market strategically, you must, among other things, be aware of the difference in cultures. The importance of hierarchy is one of the things you will most likely consider to be one of the biggest differences in the corporate world between Europe and the US. In Europe, hierarchies are more diverse. In fact, in some European countries, there are basically no hierarchies. In the United States, there is a tendency, even in smaller companies, that a certain degree of hierarchy exists,...
This will largely be equivalent to you wanting to export to the entire US at once. Therefore, do not look at Europe as one market, but instead try to understand the parts of the market that are relevant to you and your business.
When I say you should not export to Europe, I of course say that with a wink. Because, of course, you have to export to Europe - you just can’t see it as one market. Instead, you must divide Europe into segments – local markets. With a population of around 750 million people (depending on which countries you count as Europe) spread across an area similar to the size of the US, even a small niche in Europe has great potential for many American companies.
But before we move on, we need to talk about geography.
If you want to break through with exports to Europe, you need to know your European customer. While Americans tend to have an "If it ain't broke, why fix it?" mindset, Europeans tend to strive to improve and adjust. Europeans are always tweaking and figuring out how they can do things better tomorrow than they did yesterday, even if there is no real (financial) driver behind the change. This matters to your strategic decisions when choosing to export to Europe.
You probably have a great product of the highest quality on virtually all parameters. A product that suits your American target group and which you believe will fit well with a European target group as well.
You may be tempted to ask me the question: "Charlotte, can you help us find a distributor in Europe?". I have been asked this question quite a few times, and my answer is usually "no" - of course followed by an explanation.
There are definitely retailers and distributors for your...
I just published my book "Export Across the Pond" and I want to take you behind the scenes and share the journey that started with a blank sheet of paper early July. I've received a lot of curious questions as to the process that enabled me to publish the book in just four months.
First I outlined the target audience and my key messages. Then I started creating the structure for the content of the book. I took a lot of notes and went back to my many webinars to add to my notes as I was preparing to record the content as this is the format used my amazing book coach Malene Bendtsen.
Voila - the first draft appeared.
Then we worked on the cover page and the designer made a lot fo great suggestions and made it hard for me to make a choice as they all conveyed my message. But I liked the flying box and we continued to build on that image and after a few itteriations we settled on the design in the final version. And then the book is ready - and available on...
Venue: Virtual and live from Berlin, Germany & Atlanta, GA
Virtual Platform: Airmeet (www.airmeet.com)
Date: November 17, 2020, Eastern Time (ET)
Tidligere på måneden blev jeg af Kristian Sørensen, IT-Advisory inviteret til at komme med mine synspunkter omkring digitalisering, eksport og USA. Det kom der denne blog ud af:
De små og mellemstore danske virksomheder er underdigitaliserede og mangler en grundlæggende forståelse for mekanismerne på det amerikanske marked, og derfor havner de ofte i problemer, når de forsøger at få succes i USA. Sådan lyder det fra Charlotte Nytoft, som er ekspert i USA som eksportmarked. Hun bakkes op af it-rådgiver og digitaliseringsekspert, Kristian Sørensen, som hos flertallet af de danske SMV’er savner en egentlig it-strategi, der bl.a. muliggør en succesfuld digital transformation til det amerikanske marked.
Flere og flere danske virksomheder kigger mod det amerikanske marked, og så sent som i 2019 overtog USA endegyldigt rollen som Danmarks største eksportmarked (Dansk Industri, februar...