The key for 2021 will be asking ourselves what knowledge and skills we have acquired or developed over the past year that we can use to our advantage to continue operations.
Entrepreneur New Years Leader
Be inspired by the business resources in our guide and help you meet your goals in 2021.
January 5, 2021 3 min read
This article has been translated from our Spanish edition using AI technologies. Errors can occur due to this process.
The opinions expressed by the entrepreneur’s contributors are their own.
New year and new knowledge. The Key for this 2021 will it be to respond to the knowledge and skills that we have acquired or developed over the past year that we can use to our advantage to continue operations?
According to the Inter-American Development Bank (IDB) study “Entrepreneurship Ecosystems in Latin America and the Caribbean Against COVID-19”, technology companies are the ones better at improving their ability to be more agile. We have checked this in the last few months when working with Justo, a startup that we founded together with my partner in Chile in 2018 and that is now expanding to Mexico, Peru and Colombia.
We share these four lessons that will help you, like us, prepare for this New Year:
1. Listen to your prospect’s needs: Justo was founded thanks to the fact that a group of restaurants turned to us to help them build a direct online sales channel and thus avoid the high commissions from delivery apps. Here we noticed the technological needs that restaurateurs were missing and decided to help them regain control of their business. Without a doubt, actively listening to your prospect’s needs will help steer your business towards what the public really needs and offer solutions with long-term growth potential.
2. Take care of your time: In 2020, more than three-quarters of Mexican entrepreneurs surveyed by Endeavor admitted working more than 50 hours a week, resulting in stress and low productivity. So if you want to grow and take your business to the next level, it is vital that you have space – both for yourself and your team – to share ideas, innovate, and day-to-day free time and separation to offer.
3. Keep your motivation fresh: We have left one of the most challenging years in our history behind and it has certainly left an emotional mark. It is interesting to note that, according to the Association of Entrepreneurs of Mexico, 36% of Mexican entrepreneurs are afraid of failure. It is therefore important to recognize that there is uncertainty and that we need constant motivation for everyday life. Some useful tools are the setting of short and medium term goals. Visualize what we want to achieve, what resources we have and in what time we can do it. Realize the factors we cannot control and prepare to determine what risks we can take.
4. Create support networks: In Latin America, more than half of the entrepreneurs surveyed by the IDB said they tried to solve the pandemic crisis with just their work team, without resorting to any other person, which had economic or emotional ramifications. An important lesson for this year 2021 is to remember the strength of building and supporting: family, friends, co-workers, work teams, colleagues, suppliers; as well as forums, chambers, associations to hear other experiences on how to overcome adverse seasons, encourage joint work and promote the growth of the sector. Let’s remember that social distance doesn’t mean isolation: let’s look for options to move forward together and for the benefit of all.
We don’t know what this new year has in store for us. We know that part of the region’s economic recovery and stability is driven by entrepreneurs and their capacity for enthusiasm, optimism, learning and adaptability. By joining forces, we ensure that virtuous circles emerge and that a more supportive, empathetic and fairer circular economy is nurtured.