The United States offers a lot of opportunities for businesses and individuals including those outside the country. Opening a business of your own or investing in the U.S can multiply your income three times more given the bigger market and demand for a number of products.
If you are planning to start a business in the U.S, it’s most likely that you know all about these already. However, building a business from the ground up is easier said than done.
- 1 Here are the things that you must know before starting a business in the U.S
- 2 Start Small and Always Aim to Be Better
Here are the things that you must know before starting a business in the U.S
#1. A Non-Citizen Will Need a Non-immigrant Visa
This type of visa is for entrepreneurs that are not citizens of the country. If this is you and you want to invest, work or start a business in the U.S, acquiring non-immigrant visas will be your first step to accomplishing your goals. Let’s have an E2 visa as an example. An E2 visa allows you to operate a business in the U.S, and this can also be your gateway to a green card in the future as per Ashoori Law.
#2. A Business Lawyer Can Help You With Your Legal Documents
There will be a lot of legal documents involved before and after you start your business. Requirements will be piling up on your table as you try to start operating as soon as possible. Then, you will be obliged by necessity to produce legal documents for the organization of your business, employers, employees, clients and partners. Everything has to be formal, well-documented and organized.
If you’re going to run a business, make sure there are no gaps in between your efforts. Go full force. Avoid mistakes and avoid soiling your businesses’ image with clumsy mistakes.
#3. Not All Businesses Survive their First Year
According to statistics, only 80 percent survive their first year operating. What does this tell you? Well, it simply means that there’s no reason to rely on luck alone.
Yes, surviving the first year is easy, but… how about the years to come? This may surprise you, but contrary to the first presented data, businesses on their 10th year have a 70 percent chance of failing.
This should give you a concrete idea that development must be at a steady pace. Aim for necessary improvements when opportunities present themselves.
#4. Success Rate Depends on Your Businesses’ Unique Market
That’s right, not all businesses are presented with equal opportunities.
Before everything else, you should do heavy research on what business will thrive in near future situations of the country, or the industry you’re targeting itself.
Some examples of thriving industries in the U.S are the Automotive Industry, Real Estate, Technology and Aerospace.
#5. Competition is Tough
The U.S is a very big land of opportunity, and guess what… Millions of other business individuals know this too! Don’t expect your business to grow big in just a year! Most likely, you’ll be at the bottom of the food chain once you’ve entered the U.S’ business jungle.
Start Small and Always Aim to Be Better
There’s no shortcut to success in the field of business, but one thing can make sure that you accomplish your long term goals — innovation. If there is something that people are attracted to, it surely refers to the word “better.” Who is the better brand? Who has the better product? Which has more quality? Better price?