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Expanding to the US

Roger Branch
Roger Branch

The chief executive of a New Zealand tech company recommends several factors for successfully expanding a business into the US market during difficult economic times: 1) The chief executive needs to relocate to the US to demonstrate commitment and better understand the market firsthand. 2) Hiring top local talent is critical but difficult, requiring psychometric testing and deep reference checks to find truly excellent employees. 3) Americans appreciate the less formal work culture of New Zealand companies. However, pay and equity incentives must be competitive to attract top talent. 4) Cash reserves are extremely important in a recession as sales cycles lengthen and some customers may default on payments. Companies must plan accordingly. Guidance from experienced organizations can help navigate

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44 November 28, 2008 / The National Business Review PEOPLE IN BUSINESS US bound: expanding into thin air expansion issues first hand. ahead for a higher burn rate not acute, and therefore Returning to the The chief executive Zeacom now has 35 US-based before expecting a return. harder to spot. Himalayan trek metaphor, needs to re-locate to employees. First, the chief executive Cash is king. Making the right hiring In perilous times, it is more important than ever to it is also useful to have an experienced guide. the US to get things has to relocate to the US, decisions is arguably the steer a course between fear The NZTE Beachheads Mr. Valentine says. US number one factor in US and rashness. While prudence programme and a number of moving buyers want to see that success. While hiring top and financial discipline are qualified commercial firms youre committed to the talent, or A+ players, is called for, so is a measure can provide the best practices Roger Branch market. He also recommends always the best strategy, the of boldness. There will be and lessons learned from psychometric testing and problem is that B+ players opportunities to capitalise experience. Expanding a business to the deep reference checking can look like A+ unless you on competitors weaknesses, Roger Branch is associate director of US during difficult economic that goes beyond the given have a good benchmark. which may surface as Kinross Partners, an executive search firm times is like a trek to the referees. While hiring B+ players wont opportunities to gain market specialising in building management teams Himalayas. It can be done, Also, recognise that be an obviously bad choice, it share from them, or to make for growth companies in NZ and their US operations. He is also on the Council of and it can be rewarding, but Americans like working for a is a deceptively bad move for acquisitions at attractive or the NZ Angels Association and teaches you had better be fit, plan New Zealand company, he a businesss long term health. even fire sale prices. Once short courses at the University of Auckland well, and realise the air is adds. We New Zealanders The problems will be chronic, again, cash is king. Business School. much thinner at altitude. tend to be less formal and To complete the metaphor, hierarchical. Opening a beer fitness relates to the strength at work at 5pm on a Friday of the businesss balance surprises our American CHANGE YOUR LIFE sheet, to plan well equates Roger Branch friends in a positive way. to the ability to adjust your These are not the best of thinking to new market where you locate should be times economically, but the conditions, and thin air based not only on where your conventional wisdom applies equates to the fact that cash customers are, but on tax and even more. It boils down to is much harder to come by in labor law implications, which two things cash and people. a recessionary global credit vary from state to state. Executives need to reassess crunch. Hiring decisions are the assumptions of the length Hear about Jin Shin Jyutsu, the Businesses need to also crucial, he says. You of a sales cycle, especially in a consider a number of factors need to hire Americans and down market. ancient art of Japanese healing, when expanding offshore, adjust your expectations of Companies with a three- through leading international especially to the US, New how much to pay. Paying for month normal sale cycle Zealands second-largest performance is a given and may need to budget for six practitioner, Jed Schwartz, direct trading partner. According some form of equity becomes or even more. Additionally, from New York. to Mike Hearn, executive almost necessary to hire top closing the sale is not the director of the American talent into key roles. same as getting paid, and Often described as acupuncture without needles, Chamber of Commerce, you Miles Valentine, chief some customers will turn have to realise that you dont executive of Zeacom, a global into slow or even no-payers Jin Shin Jyutsu is an acupressure program that can be know what you dont know. communication technology out of self preservation. Smart self-administered or applied through the expertise of You need a presence in company based in New companies expanding into the US, says Mr. Hearn, but Zealand, knows the US a down economy will plan a Jin Shin Jyutsu practitioner. APPOINTMENTS Hear about its history, learn simple self-help sequences and develop a new understanding of health Plan-b, a business continuity Waikato, based at Plan-bs advisory group on the Holi- and stress management for all areas of your life. company new Business Recovery days Act 2003, and is a mem- providing Centre in Hamilton. He has ber of the NZ Society of contingency over 15 years experience in Construction Law. services to sales both in Wellington DATE: Sunday 30 November 2008 some of where he worked for IBM, Andrew Mayne has been VENUE: The University of Auckland Business School New Zea- Computerland and Gen-i, promoted to The Owen G Glenn Building (Building 260) lands major and in Hamilton where again associate 12 Grafton Road, Auckland City organisa- he worked for Gen-i. status at Col- TIME: 1.30 pm to 4.30 pm tions, has liers Interna- appointed Mark Hardie Sherridan Cook has been tional in COST: $30 per ticket plus $3 for postage and booking fee (total $33) general manager of sales elected a Welling- and marketing. He has a partner of ton. He TICKETS: Book on (09) 358 4722 (for long history in the IT servic- national law joined Col- visa or mastercard) or send es sector in New Zealand, firm Buddle liers in Feb- a cheque to 15 Alberon including roles as the head Findlay. An ruary 2005 when he returned Street, Parnell, Auckland of sales and marketing of expert in from the London property Please make cheques Gen-I, then Optimation. industrial market. He has been instru- payable to The NZ Steve relations, mental in some of the largest Association of Jin Shin Hughson employment industrial transactions in the Jyutsu Inc. has been contracts, remuneration and Wellington region in recent appointed holidays, as well as dispute times. Sponsored by For more information about Jin Shin Jyutsu and business resolution and health and Appointment notices should be sent to Jed Schwartz please visit: www.jinshinjyutsu.org.nz develop- safety, he recently joined the appointments@nbr.co.nz with a high- or www.jinshinjyutsu.com ment man- firms Auckland office. He resolution jpeg image. Hard copy can be ager for the consulted to the government sent to PO Box 1734, Auckland HAVE GREAT EXPECTATIONS The expectation for many small and medium sized businesses is to grow successfully. Contractors can help achieve that goal by providing experience and skills without a high ongoing cost. To get the best contractors for your business, no matter what its size, phone Carmen Bailey, Jane Wimsett, Nick Logan, Kelly George, Johnny Bass or Elizabeth Amery 09 359 9033. They put the right contractors, in the right place, at the right time.

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Expanding to the US

  • 1. 44 November 28, 2008 / The National Business Review PEOPLE IN BUSINESS US bound: expanding into thin air expansion issues first hand. ahead for a higher burn rate not acute, and therefore Returning to the The chief executive Zeacom now has 35 US-based before expecting a return. harder to spot. Himalayan trek metaphor, needs to re-locate to employees. First, the chief executive Cash is king. Making the right hiring In perilous times, it is more important than ever to it is also useful to have an experienced guide. the US to get things has to relocate to the US, decisions is arguably the steer a course between fear The NZTE Beachheads Mr. Valentine says. US number one factor in US and rashness. While prudence programme and a number of moving buyers want to see that success. While hiring top and financial discipline are qualified commercial firms youre committed to the talent, or A+ players, is called for, so is a measure can provide the best practices Roger Branch market. He also recommends always the best strategy, the of boldness. There will be and lessons learned from psychometric testing and problem is that B+ players opportunities to capitalise experience. Expanding a business to the deep reference checking can look like A+ unless you on competitors weaknesses, Roger Branch is associate director of US during difficult economic that goes beyond the given have a good benchmark. which may surface as Kinross Partners, an executive search firm times is like a trek to the referees. While hiring B+ players wont opportunities to gain market specialising in building management teams Himalayas. It can be done, Also, recognise that be an obviously bad choice, it share from them, or to make for growth companies in NZ and their US operations. He is also on the Council of and it can be rewarding, but Americans like working for a is a deceptively bad move for acquisitions at attractive or the NZ Angels Association and teaches you had better be fit, plan New Zealand company, he a businesss long term health. even fire sale prices. Once short courses at the University of Auckland well, and realise the air is adds. We New Zealanders The problems will be chronic, again, cash is king. Business School. much thinner at altitude. tend to be less formal and To complete the metaphor, hierarchical. Opening a beer fitness relates to the strength at work at 5pm on a Friday of the businesss balance surprises our American CHANGE YOUR LIFE sheet, to plan well equates Roger Branch friends in a positive way. to the ability to adjust your These are not the best of thinking to new market where you locate should be times economically, but the conditions, and thin air based not only on where your conventional wisdom applies equates to the fact that cash customers are, but on tax and even more. It boils down to is much harder to come by in labor law implications, which two things cash and people. a recessionary global credit vary from state to state. Executives need to reassess crunch. Hiring decisions are the assumptions of the length Hear about Jin Shin Jyutsu, the Businesses need to also crucial, he says. You of a sales cycle, especially in a consider a number of factors need to hire Americans and down market. ancient art of Japanese healing, when expanding offshore, adjust your expectations of Companies with a three- through leading international especially to the US, New how much to pay. Paying for month normal sale cycle Zealands second-largest performance is a given and may need to budget for six practitioner, Jed Schwartz, direct trading partner. According some form of equity becomes or even more. Additionally, from New York. to Mike Hearn, executive almost necessary to hire top closing the sale is not the director of the American talent into key roles. same as getting paid, and Often described as acupuncture without needles, Chamber of Commerce, you Miles Valentine, chief some customers will turn have to realise that you dont executive of Zeacom, a global into slow or even no-payers Jin Shin Jyutsu is an acupressure program that can be know what you dont know. communication technology out of self preservation. Smart self-administered or applied through the expertise of You need a presence in company based in New companies expanding into the US, says Mr. Hearn, but Zealand, knows the US a down economy will plan a Jin Shin Jyutsu practitioner. APPOINTMENTS Hear about its history, learn simple self-help sequences and develop a new understanding of health Plan-b, a business continuity Waikato, based at Plan-bs advisory group on the Holi- and stress management for all areas of your life. company new Business Recovery days Act 2003, and is a mem- providing Centre in Hamilton. He has ber of the NZ Society of contingency over 15 years experience in Construction Law. services to sales both in Wellington DATE: Sunday 30 November 2008 some of where he worked for IBM, Andrew Mayne has been VENUE: The University of Auckland Business School New Zea- Computerland and Gen-i, promoted to The Owen G Glenn Building (Building 260) lands major and in Hamilton where again associate 12 Grafton Road, Auckland City organisa- he worked for Gen-i. status at Col- TIME: 1.30 pm to 4.30 pm tions, has liers Interna- appointed Mark Hardie Sherridan Cook has been tional in COST: $30 per ticket plus $3 for postage and booking fee (total $33) general manager of sales elected a Welling- and marketing. He has a partner of ton. He TICKETS: Book on (09) 358 4722 (for long history in the IT servic- national law joined Col- visa or mastercard) or send es sector in New Zealand, firm Buddle liers in Feb- a cheque to 15 Alberon including roles as the head Findlay. An ruary 2005 when he returned Street, Parnell, Auckland of sales and marketing of expert in from the London property Please make cheques Gen-I, then Optimation. industrial market. He has been instru- payable to The NZ Steve relations, mental in some of the largest Association of Jin Shin Hughson employment industrial transactions in the Jyutsu Inc. has been contracts, remuneration and Wellington region in recent appointed holidays, as well as dispute times. Sponsored by For more information about Jin Shin Jyutsu and business resolution and health and Appointment notices should be sent to Jed Schwartz please visit: www.jinshinjyutsu.org.nz develop- safety, he recently joined the appointments@nbr.co.nz with a high- or www.jinshinjyutsu.com ment man- firms Auckland office. He resolution jpeg image. Hard copy can be ager for the consulted to the government sent to PO Box 1734, Auckland HAVE GREAT EXPECTATIONS The expectation for many small and medium sized businesses is to grow successfully. Contractors can help achieve that goal by providing experience and skills without a high ongoing cost. To get the best contractors for your business, no matter what its size, phone Carmen Bailey, Jane Wimsett, Nick Logan, Kelly George, Johnny Bass or Elizabeth Amery 09 359 9033. They put the right contractors, in the right place, at the right time.