Newsletter
Subscribe to our monthly newsletter to unlock your CEO Mindset

Key Notes

When you subscribe to Key Notesreceive a special report "3 Secrets to Using the CEO Mindset For Business Success"

*I hate spam too! Your information will never be given, sold, or rented to anyone else. EVER!

Social Icons
The 3 Keys Coaching Process

Use Ability, Success, Growth to unlock you as CEO of your small business

Click to learn more

What do I do?

Learn more about coaching services and expanding in the US .
What People Are Saying
“Please allow me to express my appreciation for your excellent business coaching. As our company continues to grow and present us with new challenges and opportunities, we are grateful that you are there for us with insight and understanding as to how we can better succeed in our marketplace. I particularly appreciate your thoughtful listening, and your innovative comments and suggestions. Thank you for all the books, articles, and other resources you have brought to our attention that have helped us a great deal."”
- Andrew Lutts CEO, Net Atlantic Inc.

8 Tips For Expanding in US for Irish Small Businesses

Irish small business owners, expanding in the US, exportI was just reading the other day in The Irish Independent that the Irish Export Association changed its forecast from positive to negative. They attributed the contraction to weaker demand in EU and US markets as well as other international markets. It may not sound like the best time to consider doing business in the US but it does give you time to prepare. You already know that preparation is a key piece for growing in your current market. As one of my Irish clients discovered, there are a lot of details when entering the US market. Here are eight tips to make your process smoother.

8 tips for expanding in the US

1. Know “why” – Your reason for expanding in the US is the cornerstone for the effort you will put into this venture. Identify your strategic intent and business goals for why this is a good move for your business. Be sure that you are operating from a sound business reason and not from the extremes of naivete or cynicism.

2. SWOT and/or PESTEL analysis- The US is a big country and, despite some consistent cultural qualities, there are a number of sub-cultures due to geography, ethnicity, race, politics and economic class. Conduct a SWOT analysis to clarify what is going on within your business and a PESTEL (also known as a PEST, PESTLE) analysis to clarify what is going on outside of your business. There may be regulations, demographic trends or other information that you need to know.

3. Do your marketing homework- Americans don’t think or experience emotions like Irish people. As an example, the ads that run on RTE or UTV use different emotional touchpoints than the ones on American television. Even language (even though we all speak English) is used differently. This applies whether you’re selling food, software or medical devices.

4. Hiring/outsourcing- If you decide to hire someone or outsource,  first learn about benefits and legal responsibilities. It may be useful to speak to someone who specializes in human resources to make sure your company doesn’t violate any regulations or laws.

5. Legal entity- It is often necessary to establish a US-based business entity when expanding in the US as it may be more cost-effective, increases options for funding, reduces how much you travel and other considerations. For example, a foreign small business who establishes a legal US-based business entity is eligible for assistance from the US Small Business Administration (the SBA).

6. Work with someone who can help you with the details- The are a number of brokers and organizations that can help you expand in the US. However, many of them require a fee upfront before they help you. Another (and less expensive) option is to work with a non-profit group like The Business Coalition who can provide advisors and/or a liaison for immigration/visas, business law, rental space (offices, manufacturing, living), transportation,  mobile phone companies, explain cultural differences and other business needs during your growth phase.

7. Develop and write a plan that outlines funding, personnel, risks and goals- There are a lot of details to keep straight between the business goals, who is responsible, legal requirements, regulations, schedules and so much more. A written, living document allows you to see progress, benchmarks, accountability and potential problems so you  can respond appropriately.

8. Your role and identity will change- Becoming the owner and/or executive in an international business is a transition for everyone. As you interact with new people who may be from a different country or economic class, it is not unusual to feel as if you are in over your head or are somehow a fraud. Just traveling back and forth will open up experiences that are good and bad. This is where the CEO Mindset will serve you so you can manage your stress, exhibit confidence and adapt to your new status.

Smoother process, less stress

While these tips may not the workload any less, they do provide you with an outline. There will be easy victories and perplexing problems. But it is an exciting venture well worth preparing for so someday you can say, “yes, we serve customers in Ireland and the US.”

*Update as of 8/15/2013- Sometimes things change on both a micro and macro level. This is more the macro level.  The Irish Times reported today that Ireland and the Eurozone emerged from recession during the spring months of 2013. Irish exports played a major role in growing the economy.

image: iStockphoto Andrew Johnson

About the author:  I’m Elli St.George Godfrey, a small business coach and executive coach who guides established small business owners and executives in Ireland, Northern Ireland and the US to use the CEO Mindset and be comfortable in their own skin. I have a deep appreciation for learning and understanding my client’s business style and culture. Whether you are re-focusing your small business or expanding in your own backyard or into another country, my 3 keys coaching process helps clients move from being excited about growing to having the tools to make it actually happen. Curious? Schedule your complimentary consultation here.

Share

Confidence – An Often Overlooked Business Tool

small business owner, Irish business owner, confidence, busines tool

This blog has been a little quiet as I’m after being in Ireland for a business/family visit. While I was there,  I watched the new television programme, Taking Care of Business on RTÉ. Like Fergal Quinn’s show, Retail Therapy, a struggling business and its owner are the focus for each episode. While there is much conversation about business plans, debts and the relationship with banks, the most striking thing that is talked about is the low confidence level each business owner exhibits at the beginning of the episode.

Ireland is a tough place for small business owners right now

I had quite a number of conversations with various small business owners while in Ireland who described their frustrations and worries. There are many questions about the rising tax levels, continuing austerity budgets, the obstacles business owners face accessing credit, the high debt levels and the actions taken by the Irish government.

Confidence has taken a hit

Confidence is a remarkable thing. It is not the belief that you can do no wrong nor that everything is going to be the way it was.  It is the belief that “I can handle this somehow”, even under pressure. However, when you are faced with what seems like never-ending obstacles, confidence can be undermined so even normally confident people get to a low moment. As I’ve written before,  it’s not unusual to question your values, choices and actions during a major crisis of confidence. It is also overlooked as a business tool during times of crisis because it seems so tenuous and airy-fairy. Yet, it is the underpinning for what makes a small business owner effective.

To be confident, you need focus

Daniel Goleman, who studies emotional intelligence has discovered that focus is an important ingredient in confidence. In an interview with Dr. George Kohlreiser, he quoted Kohlreiser as saying:

“How you manage your own emotions is determined by how you focus. The mind’s eye is like a flashlight. This flashlight can always search for something positive or something negative. The secret is being able to control that flashlight – to look for the opportunity and the positive. When you do that, you’re playing to win. You’re able to focus on the right things and maintain that positive self.”

Getting that groove back

Someone once wrote that “It’s not a hill, it’s a mountain when you start out the climb” in reference to changing one’s heart and mind. There is a tension between old expectations and current reality. However, building up confidence brings the small business owner back to what makes him/her tick. This is the focus.

For some business owners, they need to be meeting prospective customers. This is where they get get their groove back. For others, they need to be doing something else to get their groove back…meeting with current customers, revising the business plan or accessing help from an outside resource. For my coaching clients with struggling businesses, the return to basics (reviewing the business plan and current goals, looking at up-to-date financial reports and completing a SWOT analysis) plus acknowledging the emotional aspects gets their feet back on the ground and their minds looking forward.

Confidence…that overlooked business tool

For Irish small business owners, indeed small business owners in many places, it is an uphill climb. The slow pace can feel grueling and the wins seem so small. It is so easy to think so-and-so has it easy because of their location or specialty but you don’t really know what their story is. And it’s tempting to ignore that you have certain skills, have faced adversity before or that there are other small business owners like yourself.  People gauge how well your business is doing by your posture and how you speak (Amy Cuddy has a fascinating TED talk about body language and confidence). Your prospects get excited if you are enthusiastic. Your staff and/or outside resources will feel more secure that you are projecting solidity. And most importantly, you will discover you can weather what comes your way. Confidence isn’t about the bad stuff going away. Confidence supports finding a way to face forward and seek solutions.

**After 2 active conversations on LinkedIn started due to this post, I wrote a companion post, “CEO Mindset: Confidence When Your Business Is Struggling“,  to flesh out more about what makes confidence such an important business tool.

 

About the author:  I’m Elli St.George Godfrey, a small business coach and executive coach who guides established small business owners in Ireland, Northern Ireland and the US to use the CEO Mindset and be comfortable in their own skin. I have a deep appreciation for learning and understanding my client’s business style and culture. Whether you are re-focusing your small business or expanding in your own backyard or into another country, my 3 keys coaching process helps clients move from being excited about growing to having the tools to make it actually happen. Curious? Schedule your complimentary coaching session here.

 

Share

Small Business In Ireland – Time of Doubt, Hard Work and Hope

Irish Small BusinessThere are reports that the Irish economy is growing, fractionally, but growing. And there are reports that things are very bleak. The truth probably contains a bit of both.

 

Conflicting reports about the Irish economy and small businesses

  • In February, 2013, the Irish Independent reported that small business failures dropped by 32 percent
  • In March, 2013, The Irish Times reported that the services sector grew at a slower rate
  • Also in March, 2013, Business + Leadership reported that in a IBEC (Irish Business and Employers Confederation) business sentiment survey, indicators showed strong  improvement in business confidence at the start of 2013
  • In April, 2013, the Journal.ie reported that Davy, a stockbroking firm, revised its projections upwards for the Irish economy due to better performance and foreign investment
  • In April, 2013, FinFacts Ireland detailed that “Half of all lending to SME (small and medium enterprises) business is in arrears, according to the Central Bank”

But I got curious and asked my counterparts and peers in the #SMEcommunity in Ireland. I posted a query on the Facebook page of the #SMEcommunity.

A few perspectives

Geraldine Kennedy : (Jerros) “I have a boutique in Birr and I am seeing a lift in confidence. People are still cautious but definitely more optimistic. We are seeing more people out and about compared to last year which was desperate at this time.”

Debra Harper: (Tús Nua Designs and co-founder of the #SMEcommunity) “From what I can see there is a lot of small guys emerging, a lot of bigger established companies struggling with big overheads. A lot of biz based from home. There is a real fighting spirit going on, its not easy but the desire to succeed is there. A lot of frustration around new government schemes, all the right language is used but they are not moving with the times, not taking into account that the emerging new biz are tech or digital so can not forecast as easily as someone with a traditional shop and stock.”

Ray Wilkins:  (TotalGiftz.com) “There is a change in the air alright, a little more positive than before, small businesses continue to struggle though and changes are badly needed to help these businesses grow and create employment…government need to listen to the needs of small business and stop overlooking them..then we will see a bigger improvement…desire,drive,determination are all there..government ignoring SMEs causing road blocks..unnecessary.”

Debbie McDonnell: (The Marketing Shop.ie) “There are still no realistic options for a small business owner who provides a service or is a sole trader. If you can create a product or you opt to become a limited company you can get more than advice. Frustratingly there are situations where an enterprise board in one region can provide a lot more than one a few miles away too so your postal address can work against you which is all wrong. I think our government are doing a lot of talking about what they’re doing for small business but I know so many with viable businesses that get nothing because of rules, many of which were created pre-recession e.g. innovation vouchers which were last updated in 2007.”

Not exactly bullish

 While this may be not a technically representative sample, their comments reflect the frustration and concerns shared by SME owners in Ireland. There are calls for the Irish government to create policies that support the business growth of indigenous established small businesses. With the overall Eurozone trending downwards  and mixed signals in the Irish economy, it isn’t going to be an easy ride but it isn’t impossible either.

What is your observation about small business in Ireland?

If you could get someone from the Dáil to listen to you, what would you tell him/her?

What do established small businesses need to succeed?

What makes you optimistic about the future of Irish small businesses?

iStockphoto image by Artsy

Share

Latest Posts On TweakYourBiz, Corpnet.com and KaizenBiz

If you haven’t seen these posts, let me tell you about them.

On TweakYourBiz

This site is designed for small business owners. Since it’s based in Ireland, I often write posts that are useful to Irish small business owners. I recently had the pleasure of interviewing John McSweeney, project manager of Small Business Advice programme to learn more about this free service. If you are a small business owner in Ireland and would like to get some advice regarding a dilemma or opportunity, read Small Business Advice Programme- Interview with John McSweeney.

 

On Corpnet.com

With the new year upon us, many of us are looking at our strategic plans to see where we might go in 2013. It might be time to make a new friend out of a SWOT Analysis so you have the best data available for your plan. You can read why a SWOT Analysis Really Is Your Best Friend on Corpnet.com.

 

On KaizenBiz

Each week, I lead a conversation on Twitter in which we take a look at an business idea and delve a bit deeper. Before each conversation begins, there is a framing post to help guide the conversation. You can read the latest post, Negative Feedback and Performance: Can You Handle the Truth? (you are all welcome to join us any Friday on Twitter at 5pm GMT/12pm ET/9am PT. Just use the hashtag, #KaizenBiz)

 

I hope you’ll take the time to look at these posts and any past posts that catch your attention. Let me know what you think and continue the conversations!

Share