Octopus Ventures launches new framework for UK companies to break into US market
‘Question the Questions’ lays out the challenges around timing, planning and senior leadership commitment.
Octopus Ventures, a London and New York-based venture capital firm focused on identifying unique and ambitious entrepreneurs, today launches ‘Question the Questions’ – a framework to guide British entrepreneurs planning to enter the US market.
Taking inspiration from the Socratic method of discovery and written over several months by the firm’s New York office, ‘Question the Questions’ serves as a reference guide that combines research, interviews and first-hand accounts to interrogate founders’ US ambitions.
It features contributions from luxury-travel company Secret Escapes, health food delivery start-up Graze, and cyber risk specialists Digital Shadows.
Core recommendations include:
- Timing is everything – if the US is your primary target market go all in early, otherwise build a defensible position before entering
- Be prepared before you go – start-ups take 2-3 times longer to validate product market fit than expected, and some can hit millions in revenue without achieving this
- Pack your bags – CEO/Founder DNA is a necessary (if not sufficient) condition for success in the US
Alliot Cole, CEO of Octopus Ventures, said:
“Many British entrepreneurs aspire to building a presence in the US, but too few are aware of the scale of the undertaking.
“We drafted this report to give founders and CEOs a framework that they could apply to their plans, and to ensure they have a robust understanding of what is required for a successful market entry.”
Priscila Bala, co-author of the report, said:
“It’s easy for founders to focus on the US’s pro-business regulation and market size without allowing for the high levels of competition and increased cost of business.
“This report provides a series of questions and case studies that founders can use to benchmark their company before committing the resources needed to make the move.”
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For journalists in their professional capacity only. Personal opinions may change and should not be seen as advice or a recommendation.We do not offer investment or tax advice. Issued by Octopus Investments. Octopus Ventures is part of Octopus Investments Limited, which is authorised and regulated by the Financial Conduct Authority. Registered office: 33 Holborn, London, EC1N 2HT. Registered in England and Wales No. 03942880. Issued: October 2017.