3-Step Path to Partnership
You have decided to evaluate the United States as a market for your products – now what?
Transatlantic Trade Partners understands that making the decision to enter the U.S. market is a large and complex proposition and is not for all European manufacturers. It is critically important that our potential partners fully understand and consider all aspects of doing business in the United States. We appreciate the complexity and want to make the decision process as uncomplicated and fact-based as possible. Some decisions seem so multifactual that it's a challenge for international manufacturers to know where to even begin – we understand. Over many years we have developed a three-step process to help you get to a launch or no-launch outcome.
Step I Understanding
In this step, the primary objective is the assessment of your viability to be successful in the U.S. market. They are many variables, but the central themes are type of product, likely channels to market, competitive factors, experience in the U.S., world view and goals and objectives. Equally important in this step is for the potential partner to understand how TTP can work with you and for both parties to make a fair and critical analysis of mutual success. The platform for this exchange is typically via video conference and will be 60-90 minutes. This is the first yes/no gate. 'Yes' decisions move on to the second step.
Step II Defining
For this step, TTP will provide an agenda and host an initial two- to three-hour video workshop with the key stakeholders and decision makers. It is during this step that all invested parties are introduced and a fact-based discussion for a potential launch in the United States is undertaken. During this workshop, the primary focus is product identification, channel opportunities, barriers to entry, market segmentation, end-market targets, goals and objectives, timelines and budget. This step is designed to encourage free exchange and there is ample time for questions and answers. During this phase of the evaluation process, it is likely that several such workshops will be conducted to fully vet the opportunity and weigh the likelihood of a successful outcome/launch. This is the second yes/no gate, if there is a 'yes' consensus, we move to the third step.
Step III Planning
This is generally the final yes/no gate to launch in the U.S. From here there are several paths to choose from, but all are designed specific to the partner. Most common are to either commission a full market study, develop a sales and marketing plan, prepare a business plan or create a U.S. Launch Team.
The Launch Team (LT) members are selected by the partner and is usually limited to two or three key stakeholders. In this scenario, TTP will organize, in collaboration with the manufacturer, a Scope of Work for the LT. This is the working document that will serve as the template for weekly video conferences. TTP will prepare weekly call agendas, keep meeting notes, jointly assign action items, and follow-up activities. This process will continue until the Scope of Work is complete. At that point, TTP will write a Scope of Work Summary report. A video conference is scheduled with the final decision makers to review the report and 'go/no-go' decision will result.
If the partner is launching, all further activities are tailored to that individual manufacturer's requirements to ensure a successful introduction to the United States market.
This well defined, three-step process is designed not only to determine a partner’s successful outcome, but the process affords both parties a meaningful, thoughtful and comprehensive exchange. This engagement is a critical component of the trust building process that is necessary for any relationship to be successful.
It is also important to note, many of our clients participate in highly competitive and information sensitive industries or end-markets. Whether it is trade secrets, market disrupting technology or competitive analysis, you can trust TTP to treat the relationship with the utmost discretion and confidentiality. In some cases a very public entry is appropriate and in others cases, stealth and speed are critical for a successful outcome.