The British Chap Who’s Changing the U.S. Cell Phone Market from Austin
Top three benefits of starting a business overseas
1. Other markets can be a lot bigger than your home market, meaning there is a higher growth potential. For example, the U.S. market is roughly five times that of the U.K., so it made total sense for me to move my business overseas and open doors to new and bigger opportunities.
2. Some industries are not as advanced in other markets, so if you can spot a market overseas which is underdeveloped in comparison to your current market it can present a great opportunity for your business. For example, in my specific sector — communications services — the American market is under-developed compared to Europe. All the signs point to a shift in the same direction — which means we have been able to get ahead of the game and accurately predict where it’s going.
3. Markets can be saturated in one country and virtually untapped in other countries. For example, the comparison concept is far less common in America than in the U.K. This not only means less competition for us, but it also means we can bring a fresh perspective and increased value to consumers. So instead of being a small fish in a big pond, you could potentially become the major player in a new market.
Moving to the Austin as an outsider, the hospitable nature of Austin natives, and how Austin has helped his business succeed
For a startup, Austin ticks pretty much all the boxes. Due to all the tech companies here, there’s a huge pool of talented people with a wide range of skills, in addition to all the young, ambitious people coming out of the universities.
Crucially, salaries are much more affordable than in California or New York thanks to the lower cost of living. This factor alone has a big impact on initial investment and future growth.
There’s obviously a big startup culture here, which is infectious. There are also a lot of investors and a high concentration of helpful resources for start-ups and established businesses in the city.
Of course the move here — not only in terms of coming to a new city but a new country as well — was a pretty significant change. The thriving business culture here has eased that transition considerably. And as a bonus, I generally find people in Austin much more hospitable than other cities, such as New York and London.
How business culture differs between London and Austin
Work habits: There are definitely a few pronounced differences between the two in terms of impact on my business and professional relationships. I’ve found American workers to be more dedicated and loyal to their employer than workers in the U.K. Brits tend to work fewer hours (OECD data backs this perception, placing average hours worked per year in the U.K. at 1681 and in the U.S. at 1780) and take more breaks throughout the working day.
Language Barriers: One of the other differences that took some adjustment has to do with language barriers. Even though both countries speak English, there can be variations in phrasing and terminology that can lead to misunderstandings. For example, when people say “Let’s do lunch!” as a Brit, I take that literally. It can get confusing! Brits also tend to be a bit more blunt, which can come off as rude, even with the friendliest of intentions.
Business Meetings: Due to geographical differences, face-to-face meetings in the U.S. are much less common than in the U.K. However, technology like Skype allows CEOs and other entrepreneurs to conduct business with people from virtually anywhere, so it’s a hurdle that can be jumped quite easily.
Self-promotion: In London, self-promotion is seen more like bragging than it is in Austin. That is something to which I’ve had to work hard to adapt because being able to promote yourself and your brand across social media and countless other outlets is an absolute necessity in Austin and the U.S. as a whole.
Overall, if you’re good at what you do the cultural differences will work themselves out. On the whole, it’s been a pleasure to work with the friendly people of Austin.
Your key advice for expats setting up a business in a foreign country
While the U.K. and the U.S. speak the same language and have similar cultures, there are a lot of differences in business mindset, marketing and terminology, so it was still a very steep learning curve to adapt to.
If you’re thinking of bringing a successful concept from another country to the U.S., don’t expect to be able to create a carbon copy of that business model. Instead, do your research and due diligence and be prepared to adapt your business model several times before it will work in the U.S. market.
It’s a good idea to start networking prior to moving your business overseas. This allows you to begin to get a feel for the customs that are already in place, as well as give yourself a solid foundation of connections right away before you’re fully immersed in a new market.
Your key takeaways for the new generation of successful entrepreneurs in Austin
· Have a clear vision: Know exactly where you want to go.
· Think big: Your only limit is yourself. Keep setting higher goals each time you achieve one. As Norman Vincent Peale once said “Shoot for the moon. Even if you miss, you’ll land among the stars.”
· Ignore the nay-sayers and stay focused: Making your business work is dependent upon your ability to stay on track no matter what others are saying.
· Work hard: Execution is the key to success in all areas of life.
· Be patient: Your dedication will pay off in the long term.
