Do
Complete Your Homework
Make sure you have done ample planning and research before going into a new market (includes vlaue proposition, differentiators, competition, pricing, localization etc.).
Solicit input and advice from a wide variety of similar size companies that have already taken the international plunge.
Network with industry leaders and associations.
Read about and study the business practices, the market and culture before plunging ahead. Learning on the job is an expensive way to go.
Consider joining a trade association and attending a relevant trade show before prospecting for customers.
Research applicable Export Control regulations prior to shipping products to the US. Be sure of tariffs and duties by engaging a broker or reliable warehouse operation.
Be Prepared
Register your company name, trademark, logo, and other special items prior to entering the market. You could lose these assets if you wait until market entry. Also reserve URLs and different versions of them so people don't steal your web traffic.
If possible during the development process build in international requirements so the product is easy to change (especially software). It will help reduce localization costs.
Think Globally
Recognize your competitors are all over the world now, especially in technology products. Competitors may come from your home market, your target market, or other countries.
Build Partnerships
Explore Joint Venture (JV) arrangements versus having your own branch office.
Find local people through referal who you can really trust and employ or partner with them. Use trade development agencies to assist in finding potential partners.
Whoever you hire make them a part of the team and give them a real stake in success.
Think Ahead
Avoid getting locked into long term deals or exclusive arrangements. If you begin to grow you don't want to be limited by one representative. If things hit the skids you want to be able to move to a better partner or exit quickly. If you must do a long term deal or exclusive ensure there are performance targets that make the arrangement worthwhile.
Show Commitment
Expect success to take time, anything less than a year is unreasonable.
Expect to visit the market frquently to measure success and look for new opportuniites.
If you ask your customer for a commitment be sure to make the same commitment to them.
Communicate, over communicate to be sure agreements are being met.
Be Flexible
Recognize that local tastes are different and be sure to accomadate them within your own branding identity. However be careful you are not being insulting. Ideally get someone in the local market to review your collateral to make sure it is OK.
Look across the entire value chain to understand where you need to make adaptations.
Don't
Assume Your Product Is Unique
Just because you think you have a unique product does not mean it is unique or even needed in the US. Some products that meet a real need in Australia may be completely useless here.
Virtually no product has no competition, do your research ahead of time.
Make Unrealistic Assumptions
Things will not happen overnight. Even in the most active and receptive markets things take time. Allow at least a year.
Australians living in the US are not always the best partners. Unless they have lived here for an extended period their market knowledge is likely to be less than a "native".
Expect to pay about $150,000 to $200,000 for the first year with a US employee with any decent experience. Benefits in the US are paid by the employer, unlike Australia. Travel, office expenses, training and other day to day costs will add up quickly.
Have Unrealistic Expectations
Payment in the US will take longer than expected even from top tier companies.
In some cases your distibutors will not pay for product until it sells and establishes a track record of sales success. If your product sits on a distributor shelf they might simply send it back after 90 days.
Skimp on Resources
Before entering a new market ensure full executive buy-in.
Allow adequate resources to be successful. If you skimp on travel, budgets, samples etc. you'll be sure to fail.
Run when you have problems at the start, it will take time.
Operate Remotely
You will have to be on the ground to get things started. Even with email, tele and video conferences people to people contact is still essential.
Ensure the new market team is kept in the loop in regards to all activities. It can get lonely at the other end!
Be Too Flexible
Be careful changing your branding and packaging so much that you lose the benefit in ever having it in the first place.
Don't comprise the core values that make you different and sustainable.
Don't give away the farm. While you might expect to make some concessions to get the business (such as an exclusive agreement) ensure you can afford them and they don't last long, or have performance concessions from the potential customer.