Apply Now!!

You have until October 22, 2016 and don't want to miss this chance!

USA Startup Competition on November 7, 2016

Here's a chance to pitch your business idea to win a prize package worth over $50,000! Everything from legal business set up and office space to PR support, the winner will have everything they need to establish their business in the U.S. On top of it all, the winner will be flown to New York to attend the U.S. Presidential Election with accommodations.

Are you interested in taking your business to the USA? Are you a European startup? Then this competition is for you!

Visit MyBusinessInUSA.com for more information and submit your application to be part of the USA Startup Competition. 

Visit the website and follow us on twitter for updates @GershonConsult.

#StartupForUSA

What's Your Added Value?

Does your product add something more than competitors?

Many companies come up with great ideas. But, are they good enough to beat out the competition? Does their product offer something that will truly create value to the customer? Or, is it simply just another product to add to the pile of others just like it? These are some questions companies need to ask themselves before they produce a product because while it may be a great idea, it may not be that practical.

Introducing an innovative, expensive product into a market where simplicity is the main seller can be difficult. So, it is imperative that you make sure you are producing a product people will think they can not live without. Some questions you can ask yourself are: Is this market increasing or decreasing? It is extremely difficult to be successful in a declining market. Can my product be used with preexisting products? If so, this could open the door for a partnership with an already established, successful business. Does it add a value people will maintain and continue to buy? For obvious reasons, you want repeat business- this means they are loyal customers and it also means a steady revenue stream. 

Perhaps you are entering a market where similar products are already established by big name brands.  Now is the time to ask ourself if your product offers something different or better than these name brand, similar products. It is difficult to get people to change from what they know; in some markets brand loyalty is very high. So, one way to get people to change is offering a better, or comparable product, at a lower price. If it does a the same or a better job and costs a fraction of the price- why not change to a different product?

There are obviously many more questions to ask when expanding your company. However, if you do your homework it can be possible to expand and be successful. 

Glocalization 

Adapting Your Business to a New Market

Expanding internationally is something many companies want to do but do not know how. There are many options for international expansion and what works for one company may not necessarily work for another. In addition, just because your company is successful in its current market and country does not mean that it will be a success another country. So, when looking to take your business abroad, it is important to make sure that you conduct market research and learn about that country’s laws and regulations.

To get a better understanding of this, lets take the example of a successful chocolate company looking to expand into the United States. In the US, there are four main actors in this market (Hershey, Mars, Lindt and Nestle) that account for 89% of the total market value. You analyze these companies but still think that you offer something they don’t. Through your market research you also learn that the chocolate market experienced a 2.1% in volume and totals $19 Billion. Now you definitely want to enter this market. However, upon further research, you realize that the US FDA has high food safety regulations which means your company will be tied up trying to get FDA approved. Then, perhaps you realize that this market is very concentrated and it might not be that easy to just open a store and be a success.

So, how do you successfully expand into the United States?

If the market is concentrated by big corporations, like the four mentioned that are also global brands, you need to get creative. Look to see what the market is missing but people want and need- be innovative. Another option is partnership. Partner with an already established, large, successful brand. Offer your product to be paired with theirs; so, when people buy their product, they get something of yours as well. This builds brand awareness through a strong partnership with major brands. Or, for example, in your market research you find out that the global chocolate industry has rising demand but, by 2020, it’s expected to run out of cocoa… Perhaps your company grows its own cocoa beans, leverage that and help improve the cocoa supply. Maybe this is not exactly how you wanted to expand but, it is a way to get your company known and enter the US market.

It is important to remember that markets vary, especially when you’re expanding internationally. What works in your current market or country will not necessarily work in another. You may have to change your business model to be successful or change your product offerings. When expanding, make sure you do a thorough market analysis to learn the best mode of entry and minimize the risk of failure.

Startup Advice: K.I.S.S

Turning "Face-Palms" Into High-Fives

Have the perfect business idea but need funding? Well, unless you know someone that's going to just give you money, then you're going to have to seek outside investors. But, why would they want to risk their money on your idea? That is the key question startups must answer when seeking funding. 

You need to keep your startup pitch simple (K.I.S.S) and it shouldn't take longer than 5 minutes. As you may have read, Gershon Consulting is partaking in a startup competition in Paris, November 7th. At this competition, startups will only be given 3 minutes to pitch their idea in hopes of wowing the judges enough to win a comprehensive startup package to take their business idea to the U.S. market.

This may seem challenging right? That's the point! Whoever wants the funding bad enough will be able to plead their case within the allotted time. Don't let the fear of the pitch scare you, just practice and follow the tips in these articles:

Tips on how to create your PowerPoint presentation:

http://vator.tv/news/2010-12-14-how-to-write-a-killer-deck-and-get-funded

Examples of startup pitches:

http://www.businessinsider.com/the-best-startup-pitches-of-all-time-2012-11?IR=T

Startup & elevator pitch advice:

http://www.forbes.com/sites/ericaswallow/2012/06/27/elevator-pitch/#29e667822375

Reducing Risks In Your Health and Business

How fitness can help your health and business

In the United States, health and fitness becomes a larger focus every year. One industry that people are particularly attracted to is that of Pilates and Yoga studios. This industry represents over a $7 Billion market.

People who practice Pilates and Yoga not only attend classes but also buy merchandise. In fact, there are four types of customers in this industry: those who attend a studio, a non-studio program, pay for a broadcast of a program, and those that perform programs on their own. This expands the market for these types of businesses because they can also sell merchandise, equipment and supplements also allowing them to reach a wide variety of customers.

Pilates is a type of exercise that brings: body awareness, a stronger core, and body control. Yoga stretches your muscles to help you feel less stiff or tired, stress reliever, lower cholesterol and triglyceride levels and better immune system function

Due to these health benefits, the demand for Pilates and Yoga will continue to increase as awareness of the health benefits and consumer benefits increase.In addition, there are low entry barriers to this market and low federal regulations of the operation of these type of businesses.

Save the Date!!

November 7, 2016 

USA Startup Competition at the American Embassy in Paris.

#StartUpForUSA

Gershon Consulting, along with 10+ organizations, are coming together to hold a startup pitch competition for a prize unlike any other. Valued at over $50,000, the prize for the winning startup will provide all the necessary resources for a business entering the U.S. market. Any startup interested in participating in the competition can submit an application on MyBusinessInUSA.com from now until October 12th at 6 pm ECT. Ten contestants will be selected for the final competition and only one winner will be announced!

Be prepared to give your best pitch to our panel of judges, they will make the decision on who has what it takes to make it in the U.S. market. The winning startup will hop on a flight directly to New York City to attend the U.S. Presidential Election and start their journey to fulfill the American Dream!

For more information visit the website and follow us on twitter for updates @GershonConsult.

We can't wait to see what exciting ideas you have! 

Rapid Expansion in the Health Food Market

Shift Towards a More Health Conscious Lifestyle

In the United States, the specialty food market is worth over $8 Billion. In fact, over half of the American population consumes specialty foods. The consumer market for these products ranges greatly with 60% of the consumers being between 18-44 years old. However, there is a visible change in consumers and the millennials are becoming the largest customer segment.

Recent studies show that 31% of Americans snack more than they used to. This is a direct reflection of American’s love of convenience, living a busier lifestyle, packaging innovations, and expended distribution. This new customer segment of millennials are also shifting their concerns more and more towards being health conscious. What better way to address this health concern and increase in snaking than through specialty snack foods?

In the United States, there are high regulations and tax on junk-food. This hurts the competition and opens a window for convenient health foods. One problem that these specialty foods face is that they are expensive and, as a result, are mostly bought by upper-middle class families. However, the benefits outshine this price concern and people are showing a willingness to pay a higher price for a higher quality good.

Underdog To Become The 'Big Dog'?

Can Emmanuel Macron Win The 2017 French Presidency?

Being only 38 years old, Emmanuel Macron could become the youngest elected French President. Macron just resigned as the Minister of Economy to be able to run in the 2017 elections. 

It seems as though people are completely torn on whether or not they think Macron has a real chance of winning the election. Some say that his lack of political party affiliation can hurt him while others think it is refreshing from the standard right wing vs. left wing. Also, he may have an advantage of people voting for him simply because they do not want Hollande or Sarkozy to win. 

But, will this be enough for the underdog to win the election? Only time will tell...

Healthy Living Made Easy 

Obesity and diabetes are epidemics in the United States. In the US, 166 million people are obese, 1.25 million people have type 1 diabetes and 19.85 million people have type 2 diabetes.

To help combat this massive problem, companies have started to develop apps as easy, convenient ways to track your overall health. Most of the mobile-health application users look for goal tracking and for warning of potential health issues.

In recent studies, it was recorded that 60%, roughly 135 million, American adults say that they try to track their diet or exercise. Of this 135 million people, 40 million use an app to do so. Total, 150 million American adults said that they could use a smartphone app to manage their health-related issues. One of these health issues is diabetes. However, only 4% of diabetics use diabetes management apps because they are unsatisfied with the current offering.

There is a lot of competition in the app industry. Forty percent of the top 100 apps on the global charts are less than one-year-old. Brand loyalty to apps is low because comparing similar apps is easy; so, being able to differentiate yourself is important because there are so many diet apps and they are virtually the same. Therefore, having strong brand awareness is crucial in the app market because people search for specific names, not general terms.

The market for health apps is booming. Millennials are focused on fitness while baby-boomers are focused on health. These are two giant segments that have barely been tapped. Consumers are constantly searching for that one app that can do more than the last and provide more accurate features. This is a window for app companies that can offer advanced technological offerings because there are not a lot of apps that are very accurate.

One of our clients, DietSensor, was recently awarded for their innovative technology in this industry. Be sure to check out their website!