What does your company do? How to make an effective elevator pitch

What does your company do? How to make an effective elevator pitch

Business Development
By Sheena Liang An elevator pitch is a professional introduction that will hopefully lead to a deeper dialogue about the value of what you and your company can offer. Why is it called an elevator pitch? The term comes from the idea that if you ended up in an elevator with someone, what would you say about your company on the elevator ride to start a conversation with them? In the United States, an elevator pitch is essential because people expect to learn about your company in a short amount of time. A successful elevator pitch should spark your audience’s interest and make them want to hear more.  In general, you can use an elevator pitch anytime when someone asks you, “What does your company do?” An elevator pitch can…
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How to win contracts from the world’s largest client (3): Advantages for Small Businesses

How to win contracts from the world’s largest client (3): Advantages for Small Businesses

Government Contracts
Introduction This is the third installment in the series on "How to win contracts from the world's largest client, the US Government", which started with the first article in which we talked about the structure of the government, the ways that a non-US company can use to access this gigantic market, the initial procedures that must be followed, types of government contracts and aspects to take into account when preparing bids.In the second article we deal with the applicable regulations that must be taken into account, how some of them are barriers to entry of special relevance to international companies or their US affiliates, and what solutions can be used to cross them.In this third and final installment of this series, we focus on analyzing the advantages that small businesses can…
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Incorporate in Delaware? Myths, realities and the Delaware flip

Incorporate in Delaware? Myths, realities and the Delaware flip

Business
Introduction Delaware is a small state on the East Coast of the US, not far from major metropolitan areas (Washington DC, Baltimore, Philadelphia and New York), with less than 1 million residents. Its largest city is Wilmington, with a population of around 71,000. Apart from being the home state of President Biden, a proud Delawarean, it is famous for some advantages offered to businesses. When establishing a subsidiary in the US, one of the main decisions that international companies need to make is which state to choose. There are many implications that need to be analyzed carefully. Unfortunately, there is quite a bit of misinformation regarding pros and cons of the different options. A lot of it is connected with the alleged advantages derived from setting up the business in…
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3JIT and Anzen Engineering select Markentry USA as partner for US market entry

3JIT and Anzen Engineering select Markentry USA as partner for US market entry

Business
3JIT, Anzen Engineering and Markentry USA today announced the signature of a strategic collaboration agreement. Thanks to this agreement, Markentry USA will act as local partner in the United States for market analysis, strategic planning and business development support in order to optimize the development of Anzen Engineering’s business in the US market, initially in the area of RAMS engineering for the Urban Air Mobility (UAM) market. Through this partnership, Markentry USA will use its strong background in US market entry and the aerospace business to help Anzen Engineering design and implement a successful strategy to increase its portfolio of international customers and serve new clients in the United States, a country that currently offers massive opportunities and growth in UAM.  3JIT is a consulting company with the purpose and firm commitment to the added…
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How to win contracts from the world’s largest client: the US Government (2): Regulations, barriers and solutions

How to win contracts from the world’s largest client: the US Government (2): Regulations, barriers and solutions

Government Contracts
Introduction This is the second installment of the series on "How to win contracts from the world's largest client, the US Government". In the first article we talked about the structure of the government, the ways a non-US company can access this gigantic market, the initial procedures that must be followed, types of government contracts and aspects to take into account when preparing proposals.In this second article we deal with the regulations that must be taken into account, how some of them pose entry barriers of special relevance for international companies or their US subsidiaries and what solutions can be used to avoid them. We talk about aspects such as the FAR, the 'Buy American Act', ITAR & EAR, restrictions on classified contracts, CMMC, CFIUS and barriers to outsourcing abroad. We…
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How to win contracts from the world’s largest client: the US Government

How to win contracts from the world’s largest client: the US Government

Government Contracts
Introduction The federal government of the United States is the largest customer in the world. According to USA Spending, the budget for fiscal year 2021, out of a total of 8.5 trillion dollars, includes 832 billion for services and supplies, as well as 165 billion for asset purchases. On the other hand, states and local governments (counties and cities) manage budgets totaling more than 4 trillion dollars. International companies often ignore or avoid the US government market because they incorrectly understand that it is closed to them or is very difficult to access. If they do, they may miss out on great opportunities. Of the top 100 companies that win contracts with the US government, about 35 are headquartered in other countries. As an example, BAE Systems, a British aerospace…
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Biotech: The American El Dorado

Biotech: The American El Dorado

Business
By Juan Rivera-Mata, Ph. D. Markentry USA Partner. Pfizer in the first 6 months of 2021 obtained US $1,330 million in profits (+62% compared to the first half of 2020). This was mainly due to the sale of more than 1 billion COVID-19 vaccines. But the discovery of the vaccine came from BioNTech, a German company of 2 Turkish researchers. In the same period, BioNtech got 2,800 million euros in profit, while in the first 6 months of 2020 it had losses of 141.7 million euros; it was the first time they have had a profit. With the current contracts and the expected recommendation of a third booster dose, BioNtech will probably end 2021 as one of the world's leading pharmaceutical companies, similar to Biogen, Teva or Novo-Nordisk, a company…
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7 Highlights from my Conversation with two Ambassadors on the Biden Era

7 Highlights from my Conversation with two Ambassadors on the Biden Era

Blog
By Gonzalo García, Founder and CEO of Markentry USA Last Wednesday, April 21st, I had the pleasure of hosting a webinar on behalf of the US Spain Executives Community with the title ''Biden Era, Impact on US Spain relations". We had the privilege of talking with Spain's Ambassador to the US, Santiago Cabanas, and former US Ambassador to Spain, Alan Solomont. You can find a full description of the webinar, their bios and the complete video at the event web page.The purpose of the webinar was to discuss the changes derived from the transition to the new Biden Administration and its impact on the bilateral relations between Spain and the US. It focused on economic and business aspects, including topics like multilateralism, immigration, trade, tariffs, business opportunities and other areas. Even though the…
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Seven deadly sins in US market entry

Seven deadly sins in US market entry

Business
By Gonzalo Garcia, Founder and CEO of Markentry USA CONTENTS Introduction  1. Not adapting the 4 Ps of the ‘marketing mix’ to the target market 2. Ignoring regional differences or acting in the wrong state 3. Landing without the local support of experts in the target market 4. Acting without a subsidiary or choosing an inappropriate structure for it 5. Designing a complex and rigid business plan 6. Underestimating costs and deadlines 7. Underestimating the impact the US can have on the business Conclusion Conclusion Introduction The challenge faced by international companies and foreign entrepreneurs when trying to enter the US market is as great as the payoff obtained from succeeding. We are talking about a market of 330 million people with a per capita income of $65,000, which being…
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The «Dunning-Kruger» effect and the importance of feasibility studies in business internationalization to the US market

The «Dunning-Kruger» effect and the importance of feasibility studies in business internationalization to the US market

Strategy
By Gonzalo Garcia, Founder and CEO of Markentry USA 1. The Dunning-Kruger effect and other cognitive biases The Argentinian actor Ricardo Darín, in the fabulous film "The secret in their eyes", awarded an Oscar for the best foreign film, defined in an anthological scene two types of idiots: the one who knows he is an idiot and is therefore harmless, and the one who thinks he is a genius and does nothing but generate problems. The truth is that we are all exposed to behaving like both kinds of idiots in many fields, as modern psychology has amply shown. This is the "Dunning-Kruger" effect, discovered by social psychologists David Dunning and Justin Kruger, which is defined as the inability to recognize our own ineptitude. It is a cognitive bias that means that…
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