Your business is growing, and the US market brings great profits, but remember there are so many countries out there with fast growing IT industries.
It doesn’t matter what your product is. You may have a very basic time sheet management software written by you or a potential CRM software or maybe a complete small business software. You might be selling 10x more to international markets if you have the accurate market research data and know which country/industry to focus first.
Many US based hardware suppliers are busy with dealing US market. Cheap hardware suppliers from China and other Asian companies have strict limitations getting into European and other world markets due to import restrictions. Therefore as a US based business, you will have a head start and will be able to make handsome profits by focusing international IT markets.
I will tell you, step by step, how to get your business into International IT Markets.
Market Research in the US for IT Businesses:
It’s much more easier to do the market research in any IT specific industry. Because all of the historical statistical data and information is available by US government and industry websites. You can easily browse these resources and get the information you need (in English).
International Market Research for IT Businesses:
Many government and private industry websites have their countries’ statistical data available by industry, and by many other factors. But most of them are offered in their own language. When it comes to market research in international area, it becomes tricky. I have found a US based business which offers specifically International Market Research Reports for IT Businesses. Here’s a link to their site:
Their prices are very affordable, great suit for small business owners. You don’t have to pay thousands of dollars for a market research report, you can get a whole country’s historical IT market data for a few cups of Starbucks coffee change.
Remember to do your homework before diving into a new market. SBA is there to help you when you are ready to export. You can get federal grants to expand your business if you export. If you find good deals to import after your research, you might want to read my Importing Guide to the US.
Don’t miss the globalization train, catch a nice seat for you small business. I will talk about some real life examples of US small businesses making their way successfully into international markets.