Market entry to the usa 2014 Finland

Millä eväillä Amerikkaan?

Antti Korhonen

Managind Director Takehill Partners LLC Washington DC USA

© Takehill Partners 2014 - McLean, VA, USA


USA Population 2014:

319

million

Finland Population 2014:

5.5 million

USA vs. Finland

U.S. State closest matching Finland Population = Minnesota



Other Economies vs. USA


Sources: IMF GDP Growth Forecast June 2014

GDP Growth 2013 – 2015

-1.5%

-1.0%

-0.5%

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

Finland EU USA

0.3%

1.0%

2.0%

1.1%

1.7%

3.0%

2013

2014

2015


US Industry Example: Healthcare


Accoring to CMS, the U.S. Healthcare Expenditure will grow from

2014: $3.1 trillion (18% of GDP) to 2022: $5 trillion (20% of GDP)

$2.16 $2.30 $2.41 $2.50 $2.60 $2.70 $2.81 $2.92

$3.09 $3.27

$3.46 $3.66

$3.89 $4.14

$4.42 $4.70

$5.01

$0.00

$1.00

$2.00

$3.00

$4.00

$5.00

$6.00

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Source: 2013 CMS report ”Major Findings for National Health Expenditures: 2012-2022”


USA FINLAND

GDP/Capita $53,101 $35,617

Spending on Healthcare/ Capita $4,000 public + $4,500 private

$2,600 Public + $800 private

Life Expectancy at birth 79 81

Physicians / 1000 people 2.5 2.9

Hospital beds/ 1000 people 3.1 5.5

Doctor consultations/capita 4.1 4.2

Primary care physicians % from all 30% 70%

Average Lenght Of Stay (ALOS) days 5 12

Sources: WHO, OECD, CMS, World Bank 2012-2013

US Industry Example: Healthcare


North America – Key Facts

GROWTH ENABLERS: 1. The largest & fastest growing economy in the world

2. Homogeneous business culture and practices

3. Fast scaling opportunity for competitive solutions

CHALLANGES: 1. Highly competitive market

2. Buy American –attitude

3. Time zone difference


80% of U.S. Market Entry Projects Fail *

* McKinsey Quarterly

...why is that?


Four Critical Cs of U.S. Market Entry 1.Customer

• Communicate clearly: who exactly is your U.S. target customer?

2.Competitive Advantage • Clarify WHY you are BETTER than the U.S. Competition?

3.Communication • Fine tune your message according to U.S. best practises • Communicate your advantage • Create compelling INBOUND MARKETING content

4.Credibility • U.S. Precense: setup a virtual office early in the process • With customer success, setup U.S. subsidiary


Inbound Marketing

2004 2014

Source: HubSpot 2014

Companies that use inbound marketing get 54% more leads than those that don't.


U.S. Office

1. Virtual U.S. Office • P.O.Box & street address • U.S. tel.number • Answering service • Shared office/conference rooms • Example cost, starting from $150/month • Legal business entity still in Finland (Oy) & taxes paid in Finland • Use local U.S. consultants as ”employees”

2. Legal U.S. Business Entity • U.S. Subsidiary or Headqurters • Legal paperwork $3000-4000 • Taxes paid to U.S. Federal and State • Can hire local employees


Primary Services: 1. Market analysis – U.S. competition & market

potential 2. Optimizing business model for the US market 3. Local sales & business development services for

finding & closing first partners / customers 4. Establishing virtual & physical office 5. Hiring US team members 6. Strategic Advisory / Board Diretor services 7. Expatriate relocation guidance

Other Outsourced Services: 1. Marketing, PR, Branding, Content creation

2. Administration, HR, Accounting, CPA

3. Setup US incorporation as subsidiary or HQ 4. Startup accelerator services

5. Financing & VC contacts

6. US Legal attorney services

7. Immigration services

Takehill Partners - Services

Takehill Partners LLC provides strategic advisory and business development services to B2B technology and HealthTech companies worldwide, focusing on US market-entry, business

development and technology commercialization programs.


Thank You!

Antti Korhonen [email protected]

+1 703 504 8157 www.Takehill.com
