I've had a number of conversations that begin something like this: "My cousin in LA lives on the same street as the director of marketing of Corporation XYZ. He said he can arrange a meeting and probably close a deal with him as soon as I get there."
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Whenever I hear this story — or something similar — I make the following statement: U.S. business development is a process not an event.
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| What Do I Mean |
| See the View from the States archive for Mark Dollinger's view on aspects of doing business in the United States.
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Simply stated, who you know does have its place, but U.S. companies rarely make important decisions based solely (or even partially) on who they know. They base decisions primarily on the merits of the project, the product, or the technology.
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| What Are the Implications? |
| |  | The likelihood that your cousin has a "significant" relationship at the exact company with exactly the right contact for your product or service is extremely low.
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| | | If you are put in contact with the right partner, you still need to do your homework.
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| | | The proper approach to the U.S. market is to always assume that the development process will take time and effort — proceed accordingly. Methodology tops maina.
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| The Keys to Suceess |
So if I'm right, and your cousin is not, what do you need to do to succeed?
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Do your homework. I know that I often say this, but make sure before you pack your bags and buy a ticket that you are not the only one who thinks your project (or product or technology) is special.
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Establish a plan. Then move quickly. Be prepared to change the plan.
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Understand the market. Presenting to the wrong potential partners is, in essence, the same as not presenting at all. In fact, as expensive as U.S. markets trip are to execute in time and cost, it is the worst of all possible scenarios because it sends you down the wrong path, wasting valuable time.
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| | | Be patient. The process of commercialization takes time. Allow the process to unfold. Nudge the process along — don't push it over the edge.
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| The Take-Away Message |
| | | Israeli companies can and do commercialize in the United States. Indeed, interest in the United States for Israel-based projects is very strong, but progress occurs at the controlled American pace versus the sometimes hyper Israeli speed.
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| | | Be diligent, be responsive, be dynamic, but don't expect your cousin to succeed in selling your dream!
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| Recommended Reading |
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Macher vs. method Read Steve Rhodes' article about the macher, a uniquely Israeli phenomenon.
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Learn before you leap You need to do your homework before you start producing millions of pieces the market is waiting for.
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If you have any marketing questions that you would like me to address in a future column, or have a comment about this column, drop me a line.
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Mark Dollinger
President
Trendlines America
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