Few topics have filled quite as many business column inches as the question of timing.

In the highly competitive tech sector, there’s arguably more pressure to make key strategic decisions at the “right” moment. Moving quickly can keep you ahead of advancing competitors, and position you to take advantage of emerging technologies and shifting regulations.

However, there are some situations that may require a more measured approach – and expanding into a new market is one of them.

In the first article of this series, we explored the personal demands that a move like this puts on founders. Now, we break down the key factors founders can use to gauge whether their startups are ready to step up and scale into the land of opportunity.

As the above quote from Matt Oxley, Managing Director at US Expansion Partners shows, there are two broad schools of thoughts when it comes to scaling into the US, each of which poses unique challenges.

The first option is to go early, before you’ve really built local market traction. This is a bold move suited to experienced founders who know the US market well, and have the network needed to raise investment and US as their ultimate business base. Think of it more like relocating than trying to do business in both markets.

But be warned, being over eager can be costly. As Oxley points out: “You can definitely go too early – if you don’t have the capital or strong product-market fit at home, you’re likely to spend lots of cash running down dead ends.”

The second route is to build a business that is stable enough locally for the founder to commit to being on the ground, raising investment and making key hires and setting up shop Stateside.

While every business is different, and there’s rarely a one-size-fits-all answer to questions like this, there are a couple of points you can use to measure your readiness.

Weighing up whether it’s the right time to enter the US market?

Make sure you ask yourself the following questions.

What does the regulatory framework look like in my sector?

The US’s comparatively complex regulatory framework means that startups and scaleups in different sectors may have different windows of opportunity to plan the move. For instance, a fintech may find it beneficial to delay that move and avoid added complexity, while health techs could benefit from moving into a much larger private healthcare market.

Have you weighed up the costs associated with moving the US?

We explore the costs associated with expansion in another article, but it’s important that founders’ eyes aren’t bigger than their stomachs when it comes to expanding. Remember, although the market and opportunity are significantly bigger, it is often more cost effective to build a product and test product market fit locally.

Do you have the resources to build in two markets simultaneously?

Expanding to the US places extreme demands on your business locally. As a benchmark, you likely need the team and capital to meet upcoming milestones for at least 18 months – all while your founding team travel between countries, making hires and (hopefully) an impression with investors and customers alike. Doing so requires careful planning and a focus on capital efficiency.

Are you all speaking the same language?

Another important but often overlooked factor is language – and it goes deeper than using “z” instead of “s”. Although the world of remote working means it’s easier to work with worldclass talent, it is vital that your founder and CEO can engage the US market in English. Articulating your purpose and competitive advantage clearly will be essential – and you don’t want any opportunity to get lost in translation.

Perhaps as a consequence of living in an age where most services are available in a click, there may a misconception that expansion is an instant process, when in truth it demands careful planning that should not be rushed.

While digital solutions have made things easier, it is by no means easy.

Thankfully, there is no need to try and replicate your local operations in a hurry. Starting small, with strategic sales hires, as you build a network of investors and connections and (where necessary) adapt your proposition to better fit the market will empower founders to take a gradual, considered approach that limits local risk.

Be tactical about your footprint at first. A few key staff selling a Minimum Viable Product (MVP) to prove traction could be enough to gather the resources you need to make a play in the US market.

Strategic steps and efficient planning are key to building a business that’s ready to expand to the US.

There are multiple factors that may influence your decision to expand, but there are three broad categories that serve as a foundation for this decision.

Resources: Do you have a trusted team and ample cash flow?

Do you have the turnover and team to continue to reach key growth milestones while your founder is on the ground in the US for as much as 18 months? How about “basics” like banking solutions?

Product market fit: Have you already got traction?

Have you got paying customers locally, and do you need to adjust to appeal to the US market, or meet different regulatory expectations?

Operational readiness: Are you “America ready”?

Does your founding team speak English well enough to sell your culture to US investors, and build meaningful connections, while your local team continues to grow your footprint locally?

Every journey is different, but assessing these metrics in advance can help you determine whether or not it’s the right time for your business to consider US expansion.