Starting your own business in the United States, seems like an impossible mission doesn’t it? If you answered yes you are not alone in that answer!
Starting a business in the USA is not an extremely easy task, it is time-consuming, slow, and requires a lot of effort and work.
And to help you focus on entrepreneurship in the United States, here are 7 tips for entrepreneurship in the USA:
-USA business types
-Adapting your service
-Know your business
-It’s time to put it into practice.
Types of companies in the USA
There are two forms of companies in the USA: Corporation and partnership, each with two basic subtypes. What differs from each other are the effects of taxes on benefits.
The partnership may be a limited partnership or a general partnership.
There are 10 legal possibilities for companies in the USA, each with its advantages and disadvantages of undertaking in the USA.
- Sole Proprietor – In this type of company, a sole proprietorship, the owner and the company are considered the same.
- General Partnership – Two or more people who form a partnership. It is an inexpensive way of doing business, but it is possible that, under state laws, a certificate and registration is required.
- Limited Liability Partnership – This partnership, of two or more partners, is very common in professions such as lawyer, doctor, accounting, etc.
- Limited Partnership – Also formed by two or more partners. The liability of the members is limited and is not responsible for the debts of the company with its own assets. The exception to this rule is for partners involved in business management.
- Corporation C (C Corporation) – This form of business is a more complicated and expensive method of creating a partnership in either version, or a single owner business. As it is a completely different entity, there is double taxation.
- Corporation S (S Corporation) – Has limited liability equal to that of Corporation C, but when taxes are due, they are considered as sole owners or partners of companies.
- Limited Liability Company – This type of business is very common in the United States. The partners are only responsible for the company’s debts with the company’s capital and the agency that deals with taxes at the federal level allows you to choose between paying taxes as a company or as a partnership.
- Professional Limited Liability Company – This way of registering a company is very similar to the limited liability company. The main difference is that, in these cases, all members of the company must belong to the same profession.
- Professional Corporation – To incorporate the business in this way, it is also necessary that all members belong to the same profession. The list of professions eligible for one of these companies varies from state to state, but they generally tend to be lawyers, engineers, psychologists, veterinarians, social workers and health professionals, such as doctors, dentists, nurses, etc.
- Non-profit corporation – This type of company does not pay taxes. In addition, all contributions that are made are exempt from tax. But it is only valid for a charity, religious, scientific, educational or literary work.
Ideal visa for entrepreneurship in the USA
Each professional has a profile and a qualification and thus has the comparison to where they have the greatest chance of getting a visa. The two most common types are:
L-1 Visa: The L-1 visa is the entrepreneur visa; this modality allows companies from other countries to transfer their professionals to manage a subsidiary or branch in the USA. Or transfer staff to start a new subsidiary or branch.
EB-5 Visa: The EB-5 visa allows foreigners to immigrate to the United States if they make an investment in a company in the USA.
Adapting your service
The American has a completely different way of consuming, since we are small, we are used to having contact with American culture for various reasons such as Hollywood films and as much as some customs are similar, just living with them we understand that culturally there are several aspects that influence the North American decisions.
Mainly patriotism and with this loyalty to the country and its principles directly influence habits.
As the American, for the most part, is faithful to the places where he is used to consuming, changing this style requires strategy, capital and patience.
The Brazilian by himself is creative and innovative, but one should not try to make Americans accept an unknown product.
It is extremely important to be as close as possible to their reality.
It is necessary to make a study in a very deep way of how to have a strategic vision for business plans in the future. This is a superpower of successful entrepreneurs as it allows them to see far beyond and guide the business in the right direction.
Mainly in understanding exactly what to expect for the United States enterprise and these are some points:
– Market Size
– Who will be your customers
– Products / Services currently offered
– Necessary investments
– Goals and Objectives to be achieved.
Whatever your vision for the business, it is extremely important to have an action plan to achieve it and make it an inspiration for people.
Know your Business
Already having a strategic vision, you cannot forget to know the market and/or the product you want to undertake.
Having information online is a great way to exchange experiences with people who have already done this process, to use social networks like Facebook groups and discussions on LinkedIn.
For you to understand your main American customer, you need to get your head in the English language, look for local suppliers and services.
After understanding the system of laws and regulations on establishing a business on American soil, plan for the business plan to be successful.
Time to put it into practice!
After all these processes, which can take months, it is time for the famous “go to Market”.
If you have not yet made your minimum viable product in the business plan stage, contact your target audience and do a prior acceptance survey of the product or service.
With the positive acceptance of research, it is time to invest in the implementation of your enterprise in the United States.
And finally, … Always innovate!
One of the fundamental lessons of how to be a good entrepreneur in the USA is to exercise creativity towards innovation.
Again, Steve Jobs’ legacy is worth revisiting:
“Innovation is what distinguishes a leader from a follower.”
Therefore, the ability to create new solutions and processes to solve problems and generate unprecedented value is mandatory for a great entrepreneur.
We are sorry that this post was not useful for you!
Let us improve this post!
Tell us how we can improve this post?