Develop a detailed venture-validation plan.
The UK has a population of 65 million, a well-established middle class and is one of the most vibrant B2B and B2C economies in the world.
So what? Does that necessarily mean that the UK has potential for you and your products?
We want you to be successful in the UK but we know success can only come from careful planning and by creating a workable implementation strategy.
Therefore we like to work with clients at what we call ‘day minus one’ stage.
Before you decide to risk too much of your hard-earned cash on trying to grow a business in the UK, we want to help you to do a practical market viability assessment – and we want to do this at a minimal cost to you.
You need to know how attractive your products and services are in the UK market and whether you will need to make any product adjustments. You also need to know how competitive your products and services will be against the local competition. We can do all of this work for you at an early stage without you needing to spend time and money on market visits – you should only really visit when you know you have a good chance of success and also have people lined up to speak to who are well positioned to help you in your journey – be they potential clients, distributors or key advisors.
We like to work closely with our clients to help them avoid all the classic mistakes that foreign investors often make when entering the UK market and to help them develop a viable entry and growth strategy. We like to look at the client as a whole, understand their goals, products and strengths before developing a detailed short, medium and long-term strategic plan. We believe it important that each step on a client’s UK market entry journey is venture-validated before moving on to the next phase.
Our preferred approach is to have an initial teleconference meeting to find out about the potential client before working with them on a pre-entry, venture validation exercise. This work will determine how successful a client is likely to be in the UK. The fees associated with this stage are relatively modest but the long-term rewards can be huge.