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Should I use advisors when entering the US market?

Entering the US market is tough, even for bigger companies. Using advisors to enter the US market has several benefits and greatly increases the likelihood of success. 

Is it a good idea to search for foreign advisors or board members?

Due to Covid and digitalization, even smaller companies aim for global market. This however sets some new requirements on the management and the board. Diversity in terms of nationality becomes an issue that should be dealt with early on. One flexible and cost effective way to make sure company has all the skills needed for global markets is to get foreign advisors or board members.

What things should be considered when using advisors to support growth and expansion to global markets?

If you run your business only in domestic market, things are rather easy. You have the needed network and you know the local business culture and legistlation. As soon as you expand overseas, things get much more complicated. A flexible way to overcome the issues related to global expansion is to get an advisor with relevant experience and skills. There are however few key things to consider when using advisors to support growth and expansion into global markets.