Meet the In Market Partners
The fastest, often most successful, route to establish a business base in the US is through an In Market Partner. In this edition of the Washington80 enewsletter we meet the CEO of one already familiar with a number of Welsh companies: Kelly Waters of Waters Group Global.
The sheer scale of the US market, let alone the daunting distances between the major centres of population, is often enough to put many companies from attempting to get their feet in the door. And that’s a shame because, as the song goes, make it here and you’ll make it anywhere.
But where to start? Enter the IBW team of In Market Partners (IMPs): a nationwide network of consultants and experts from every sector who know the US market inside out – and can quickly gauge whether what you have to offer will press the right buttons.
Kelly Waters heads up Waters Group Global, with her husband Jack applying his many years of expertise in aerospace and defence to lead projects in those sectors. As Kelly points out, while many IMPs focus on specific sectors, Waters Group Global taps into a network of active industry professionals across a broad spectrum of sectors. Welsh companies served by Waters Group Global currently include British BioCell, SolaVeil and Faun – a complete cross section of industries.
“My background has been in getting technology-based SMEs and start-ups off the ground,” she says, “which means I have an excellent network of specialists I can call on when needed.
“The first stage is to understand the company’s goals, and establish what they know – and (often more importantly, what they) don’t know – about the market here. Then it’s a question of identifying whether there is a gap in the market for their product or service before deciding upon the best way to approach it.
“Our geography can be very confusing to a European company. Yes we have 50 different States but it’s one very large market with a variety of demographics and industrial clusters. And while the US is a very large country, the distribution network is extremely robust – companies are used to shipping products coast to coast. JIT is important but is actually much easier to achieve here than it is in Europe.”
If she feels there are real prospects then her specialist network swings into action – looking at how best to introduce a company into the US.
“You can do it on your own, setting up own sales and distribution network, or look to find collaborative partners,” says Kelly. “There are many different scenarios. Whichever route you choose, it’s always going to be a big commitment of time and resources. But the effort can pay off and we’re here to act as your eyes and ears if needed.
“But one of the key pieces of advice we always give is to make sure you present yourselves professionally to this market. That means having a good website in place geared to what they need to see and hear. It’s your shop window and in the States it plays an even bigger role than in the UK. Instant decisions will be made on the basis of that website: are you professional or are you 10 years behind the times?
“Sometimes it can be something of a reality check,” she says. “But we’re here to help. And there’s nothing like the excitement you feel when you come across a business with great potential.”
