Steven Buchwald on Understanding Your Overseas Startup's Lifecycle
NEW YORK (PRWEB) May 30, 2018 -- Steven Buchwald of Buchwald & Associates, a leading provider of legal services for overseas entrepreneurs and startup investors, has weighed in on how a solid understanding of startup life-cycles can help entrepreneurs looking to establish themselves in the United States.
Every startup, explains Buchwald, starts with a problem. It could be one the entrepreneur has encountered themselves, or one they’ve seen friends, family, or colleagues struggle with. The important thing is that the entrepreneur feel they’ve a solution to that problem - and that their solution is compelling enough that it withstands a gamut of tests.
This, Buchwald continues, is where the real challenge of starting a business overseas makes itself known.
“A solution that seems like a good fit for one marketplace might not necessarily work in another,” says Buchwald. “Before committing to starting a business in another country, it’s important to see if there’s demand for your business there. You need to determine that your solution is as compelling to an unfamiliar market as it is to your own.”
Buchwald advises that entrepreneurs determine who their target market is likely to be, and to conduct frequent problem/solution fit interviews with that market. Only once it’s certain that the product solves every specific pain point that audience has is it safe to move forward with one’s business plans. Even then, Buchwald recommends having a minimum viable product ready before putting down roots.
“There’s always going to be an element of risk to establishing an overseas business,” notes Buchwald. “But with extensive market research and focus testing, entrepreneurs can take steps to greatly reduce that risk. And in the event that they aren’t certain they want to put all their efforts into moving to the United States, it’s perfectly acceptable to start their business in their own country and expand once they feel they’ve built up enough of a market.”
The important thing, explains Buchwald, is that entrepreneurs research which option makes the most sense for them. If there’s very little competition for their product in the United States, for example, it would be better to start their business right away. If, however, they cannot find the right market or enough of a following to justify headquartering there, it may be better to remain at home until they can build up a following.
Regardless of which choice they make, Buchwald maintains that he is fully prepared to help entrepreneurs navigate the complexities of starting a business in the US - and that he’s always happy to see more great ideas find footing.
About Buchwald & Associates
Buchwald & Associates focuses on corporate and intellectual property law, internet law, international mergers & acquisitions, structuring complex transactions, and technology transfer. It also represents international investors with business immigration issues. Featured in multiple publications such as Inc., Entrepreneur, Forbes, and TechCrunch, Steven Buchwald is one of the leading legal authorities for business professionals, particularly entrepreneurs and investors.
Steven Buchwald, Buchwald & Associates, http://buchwaldlaw.com, +1 (212)-729-8505, [email protected]
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