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THE PYRAMID FOUNDATION FOR NEWCOMERS
Newcomers
can avoid costly mistakes and use their finances
wisely when they:
- understand
the business culture and lifestyle;
- learn
how to network into the system; and
- develop
a business/credit identity.
I.
THE BUSINESS CULTURE/LIFESTYLE
Knowledge is Power
Understanding how smart and safe business is done
in the U.S.A. is the key to success in the U.S.A.
Things may be done differently in the U.S.A. than
what you are accustomed to. There is no substitute
for real experience, but EasywayUSA Seminars,
books, and this website can give you a quick and
effective overview of how to approach the U.S.
business world and understand the lifestyle.
Competition
Competition
is the heart of business. Monopolies are broken
up and it is an offense for competitors in the
same industry or profession to fix prices. Interest
rates are competitive. The consumer is king!
Much regulation revolves around protecting the
rights of the consumer.
Business
opportunities are not determined by nobility,
religion, class, which school you attended. If
you have a good idea, there are ways to achieve
your dreams.
II.
NETWORKING/CONTACTS
Understand
your business, your competition, and seek out
allies
Join
a trade, business, or professional association.
This will help you understand the current trends
in your particular occupation. Learn how your
colleagues or competitors are operating their
businesses or practices. Network into your field
and get help from those who know how the game
is played in the United States. It will open
doors to potential opportunities
Resources
Check
out the National Trade and Professional
Associations of the United States published
by Columbia Books, Inc. Many national associations
have regional and local chapters. Their annual
conventions or trade fairs will allow you to understand
the trends in your occupation.
Check
out www.tsnn.com, an excellent
website for conventions and tradeshows.
III.
BUSINESS IDENTITY/CREDIT
Who are
you and why should you be trusted?
Getting
started:
- People need to know that you are serious. If you are
“just looking” to buy a business while
on vacation, you will not have the same credibility
as someone who has arrived. A short lease on
an apartment/condo with your own telephone number
tells sellers that you are serious in your intention
to buy a business. Business brokers, friends
and associates identify you as a real and immediate
prospect.
- Joining a Chamber of
Commerce, trade or professional association
and attending meetings show that your long-term
plans are directed to the U.S.A.
- Finance the purchase
of a car (new or used) even if you can afford
to pay cash. If you have a friend or relative
who will co-sign the purchase, that will make
it easier. Otherwise, you should invest in
a certificate of deposit with a bank and get
a loan, using both the car and the certificate
as collateral. Ownership of a car shows greater
commitment to the U.S.A. while financing it
develops your credit.
- Read our “Credit”
section in the EasywayUSA Guide to understand
how credit ratings are established.
- Start your credit history
as soon as possible.
- Ownership of a house
can help you get a Small Business Administration
(SBA) Loan to buy an existing business. However,
check out our “Housing” section for
some thoughts on whether to buy or lease a home
when you first arrive in the U.S.A.
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