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When we create a company generally one characteristic it has at the beginning is that we cannot hire many professionals, first of all because it is not justified by the amount of work but also because we don’t have the financial resources to do it. However not being aware of the …
Read More »Good Account Keeping as the Basis for any Successful Organization
In Colombia, my home country, there is a colloquial phrase that I’ve heard elderly people say. I can translate the phrase as follows: I like my “accounts clear and my chocolate thick”. The first part of this sentence talks about good account keeping and the other one is about hot …
Read More »The communication problem on companies
Day by day I convince myself more about the importance of communication on companies. Many times when we have employees and they commit mistakes in their tasks, we think it is their fault because they are not following our instructions. However I think the easiest path is to blame the …
Read More »Constantly innovating to achieve success
Depending on the degree of innovation of companies, I’ve come to the conclusion that you can divide them in three main groups. The first group is reserved for those companies that never apply innovation to their business. These companies might have been innovative when they started, but that was it. …
Read More »Plant and wait for the harvest in your new businesses
I start this post with its conclusion: the entrepreneurship world is made only for people who have time to plant and wait for the harvest. Owning a business is an idea that sounds nice for many people, but it is an option that is not made for everyone. Only people …
Read More »The conundrum of every entrepreneur: Facing New Competitors
I’ve been an entrepreneur for more than 18 years and during this time I’ve had the opportunity to speak with many young entrepreneurs as well as established businessman. Many years ago I came to the conclusion that most entrepreneurs are afraid of competition. This fear usually begins when we are …
Read More »Clients that can end with our business – and with ourselves
When I decided to stop working for someone’s else company and joined my brothers’ business, who had started it some years ago, acquiring new clients was a subject that I was concerned about. This was obvious because as other entrepreneurships if we weren’t able to get new client our business …
Read More »Venture Capital Firms making their way into Latin America
Some 10 years ago, maybe a little bit more, I was trying to make my first large entrepreneurship a reality. At that time we analyzed with my business partners, different mechanism to finance the project. Among the options we analyzed, we included a bank loan, government funding, loans from friends …
Read More »Positive and negative aspects of Marketplaces
When a SME decide to start selling products on the Internet, one of their greatest fears is the subject of costs, in order to implement a webpage. This makes that tis type of companies many times desist from entering to this great media, that brings opportunities to all type of …
Read More »Exploring Internet niches
Some posts ago, I explored different business models that where possible with the Internet such as the Long Tail model. This model makes able that stores such as Amazon reach niches and not only sell mass consumption products because with Internet and the minimum costs it implies a company is …
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