Author: Todd Farnham Business Development Manager - North America NZTE
When localising your tech business model for the US, focus an inch wide and a mile deep, says NZTE's Head of Early Stage Tech, North America.
In this short video, Todd Farnham, NZTE Head of Early Stage Tech and BDM - North America, talks about the importance of clearly articulating your unique value proposition and being laser focused in how you tailor your offering.
New Zealand is small enough that you can be all things to all customers, but in the vast US market, you need to focus on a specific location, customer type and business model. If you stay broad and agnostic, he says, you'll get crushed because you're competing against companies that are earning $50 billion in annual revenue.
Todd's golden rules for adapting your business model to make an impact in the US are:
Be very clear about what makes you unique
Be able to articulate your USP in 10 words or less
Be laser focused when targeting your customers
Go an inch wide and a mile deep – you can’t service everyone.