Entrepreneurship is one of the country’s economic engines and should be supported

2023-08-09 13:00:42

According to the Global Entrepreneurship Monitor (GEM), Annual report prepared by the Francisco Marroquín University (UFM), Guatemala is a country of entrepreneurs and is in fourth position in the world for having the largest number of startups in the initial and early stages.

The great strength of this situation is that we have a great opportunity to create more jobs, apart from the fact that in countries where entrepreneurs are well trained, and where they have access to good sources of financing, it is possible to create a lot of jobs, apart from that they create market innovations that stimulate growth in the economy.

I dedicate myself a lot to mentoring entrepreneurs and the first thing I tell them is to make sure that their idea solves a latent need in the market, since their product must be more like an aspirin, which removes a huge headache, versus a vitamin that, whether you take it or not, nothing happens right away. It’s about selling products that customers would pay anything to solve a need effectively and at a reasonable price.

I also talk about having a value proposition that is very easy to communicate and that is so attractive to the consumer that it leads them to buy without giving it much thought. A product that pays for itself in 3 months or less, for example, can sell very well because all potential customers are looking to save money. Then testimonials from these customers will drive more interest in your product which then converts into more sales. The example of buying a ecofilter For your home, for example, it’s an investment that pays for itself in 3 months or less, versus buying bottled water.

There is no need to be afraid of starting a business, and the younger the better! Since young people do not have obligations such as family expenses and mortgages. When you start at a young age, you learn faster from mistakes and there is more flexibility to correct mistakes and stay alive in the market. Failure is something common that will always be experienced, but if it is used as a lesson for the next venture, it will get closer to success. It is a strength of the country to see that 60% of its entrepreneurs are under 35 years of age, according to the GEM.

There is a lot of talk about what makes the best athletes in the world like Lionel Messi, Tom Brady and Michael Jordan so successful. Experts say that he is not only a natural talent, but they also work harder at their sports than his peers. Additionally, these stars are comfortable with the boredom that comes from repeating the same thing on a daily basis. I would say that great entrepreneurs have the quality of being constant, even being great masters of their occupations.

A good number of young throw in the towel when you are about to reach success! So, you have to learn to take care of yourself to be able to withstand the pressure, have a fixed schedule to sleep and work, have a daily spiritual, mental and physical practice.

Among Jaguars It is a great initiative where I participate as a judge, and where I have the opportunity to listen and see the presentations of great entrepreneurs. It is an initiative that we hope will encourage more people to choose the path of entrepreneurship in order to generate more employment and more satisfaction for the same entrepreneur by managing to build something that impacts the population and, in some cases, the entire world.