5 Entrepreneurial Podcasts You Should Start Listening To

5 Entrepreneurial Podcasts You Should Start Listening To

June 1, 2021 – Aleanis Ramos

As entrepreneurs, we are constantly trying to acquire new skills and knowledge to survive and thrive in the competitive business landscape. While reading an insightful business book is almost always the best way to gain knowledge and wisdom, not everyone can find time in their busy schedule to read books. What could a busy entrepreneur do? The answer is right on your phone start listening to podcasts! You can tune into podcasts anytime you want;  while commuting to work, jogging, cooking, cycling, or even while working out at the gym.
Podcasts are immensely popular these days. According to Convince and Convert, podcast listeners listen to an average of 7 podcasts per week. What are those entrepreneurial podcasts that every entrepreneur should start listening to? Let’s see PG’s top picks!

1. Pivot

Pivot is a weekly podcast by Recode owned by Vox Media, hosted by Kara Swisher, Silicon Valley’s most revered journalist, and NYU Professor Scott Galloway. The podcast offers sharp, unfiltered insights into how technology shapes business and culture across media, advertising, politics, and more. If you’d like to stay informed about all the current events in technology, business, and politics, Pivot is a must-listen podcast.
Listen on: Apple Podcasts, Google Podcasts, and Spotify.

2. The Tim Ferriss Show

Tim Ferriss is a serial entrepreneur and best-selling author of profoundly influential business books such as The 4-Hour Workweek, Tribe of Mentors, and Tools of Titans. Tim’s podcast, The Tim Ferriss Show, is often the #1 business podcast on all of Apple Podcasts, and it’s been ranked #1 out of 500,000+ podcasts on many occasions. The podcast features interviews of successful people from all areas of life; investing, sports, business, art, and more like Arnold Schwarzenegger, LeBron James, Doris Kearns Goodwin, Malcolm Gladwell, Vince Vaughn, Susan Cain, Ramit Sethi, and many more. Tim examines the tactics, tools, and routines they typically use to achieve peak performance.
Listen on: Apple Podcasts, Google Podcasts, and Spotify.

3. The GaryVee Audio Experience

Gary Vaynerchuk is a serial entrepreneur and chairman & CEO of VaynerMedia, a full-service advertising agency servicing Fortune 100 clients. Gary Vee has an active presence on social media, including Instagram, Twitter, Snapchat, and YouTube, where he has his Q&A show #AskGaryVee and the daily video documentary series DAILYVEE. In his podcast, The GaryVee Audio Experience, you’ll find a mix of #AskGaryVee show episodes, keynote speeches on marketing and business, segments from his DAILYVEE video series, interviews, and fireside chats, as well as original content recorded specifically for the podcast.
Listen on: Apple Podcasts, Google Podcasts, and Spotify.

4. Masters of Scale with Reid Hoffman

Masters of Scale is a business podcast hosted by Reid Hoffman, co-founder of LinkedIn, where he invites successful entrepreneurs to share the stories and strategies that helped them grow from startups into global brands. Reid and his guests talk entrepreneurship, leadership, strategy, management, and fundraising. They also talk about the human journey, with all its failures and setbacks.
Listen on: Apple Podcasts, Google Podcasts, and Spotify.

5. Entrepreneurs On Fire

Entrepreneurs on Fire is an award-winning business podcast by John Lee Dumas, where he interviews successful entrepreneurs to inspire you in your entrepreneurial journey. The goal of this weekly podcast is to present you with the inspiration and strategies you need to fire up your entrepreneurial journey. Since launching his podcast on September 22nd, 2012, Dumas has interviewed over 2,000 entrepreneurs.
Listen on: Apple Podcasts, Google Podcasts, and Spotify.

Start Listening!

There you have it, the 5 entrepreneurial podcasts you should start listening to that will make you a better entrepreneur. You can also check out this list of 3 Must-Reads for Every Entrepreneur if you want to add a little reading. If you are interested in learning more about ways to improve your business, check out our other articles on our blog. 

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The 10 Biggest Mistakes Made by Small Business Owners

The 10 Biggest Mistakes Made by Small Business Owners

May 25, 2021 – Aleanis Ramos

Many things can happen when we enter the world of entrepreneurship, but it is up to you how to visualize and handle them. There are several ways to identify those aspects that do not work and generate effectiveness on it. Entrepreneurial ventures are fraught with missteps, mishaps, and mistakes. No matter how steeped you are in business-ownership experience, you are bound to run into problems at some point. The key to your success is to quickly identify your mistakes.  Most business owners fall into the same traps. It’s those mistakes that could make the difference between owning a successful and viable small business or owning a money pit that could leave you in financial pain for years to come.
It is important to note that these and many other errors to be presented can be avoided when we incur in education, mentoring, and market or feasibility studies. Even a business plan is an effective and functional tool. So, what are the biggest mistakes owners make when starting and managing their small businesses? Here is our list!

1. Trying To Do It All

The greatest mistake entrepreneurs make is to believe they can do it all by themselves. While an entrepreneur can do almost everything, they could do almost everything poorly. Just like any other person, an entrepreneur has one or two natural talents. As an entrepreneur, it is your job to identify those talents and focus on them to your fullest. Surround yourself with people who are strong where your talents are weakest. Great companies are built on the foundation of exploiting a few strengths, not on trying to be masters of everything.

2. Not Being Forthright

The anonymous nature and grand size of the Internet allow people to share anything with anyone at any time. If your business tries to cover up a mistake, it is just a matter of time before word leaks, and you are labeled a liar. That’s not good for business. Be the one to break your own bad news, and you will be perceived as honest and trustworthy.

3. Having No Clear Marketing Strategy

You never know where, when, or how a new prospect is going to hear of your business. If you have a mix of messages out there, the prospects will have an unclear expectation of what your business can offer. Your company must present a consistent, clear message on all fronts. You will never get a second chance to make a first impression. Make sure every new prospect who sees your business for the first time receives the same, consistent message.

4. Cutting Prices

Often, the first thing entrepreneurs resort to when business is tough is to try differentiating on price. Cheaper prices means more customers, right? Wrong! Most customers are willing to buy more expensive items because of the greater quality or the added convenience. During tough economic times, an increase in price, coupled with improvements in quality or convenience, can drive customers to your door. Price slashing is a dangerous game, which could lead to slashing employees or salaries to keep costs down.

5. Having No “Rallying Point”

There is a reason why employees leave high-paying corporate jobs to go to start-ups, and it’s not for the money. People are driven to serve an important purpose, in addition to getting a paycheck. Many businesses never define their real purpose for existence, and continually attract a mix of employees who are seeking success in different ways. Clarify your company’s purpose, beyond just making money, and you set the stage for attracting like-minded employees. A team focused on the same goal is a very powerful force.

6. Setting Unrealistic Financial Goals

If all business plans come true, being a billionaire would be nothing extraordinary. Many entrepreneurs go into new ventures planning astronomical returns. Yet most never even get the business off the ground. Unrealistic goals not only hurt your credibility but can also be an emotional drain. Set specific, measurable, accountable, realistic, and time-specific (or SMART) goals to ensure continual progress. If you do this, your chances of being an overnight success (in 15 to 20 years) are much greater!

7. Being All Business, All The Time

Many entrepreneurs put their personal lives on hold to focus exclusively on their businesses. Ultimately, both suffer. There is no question your business needs your full attention and effort, but only in short spurts. Just like an elite athlete in training, you need to have a proper, healthy diet, get enough rest, and take breaks. Balance your personal and business life, and you will do better in both.

8. Being A Weak Leader

The success of your company is contingent on you being a strong, effective leader. This does not mean you need to be an authoritarian, but you also should not be everyone’s buddy. A great leader sets the course for the company, communicates it constantly, and inspires the team to get to the next level.

9. Assuming You Have No Competition

Even if you have the latest, greatest, never-been-done-before approach to something, don’t assume that you have no competition. Competition is more than just the direct, obvious competitors. Competition is also all the available alternatives. What else could the consumer do instead of using your product or service? Could they do nothing? The customer almost always has the option of walking away. That alone is a serious competitive threat.

10. Trying To Get Rich Quick

Overnight success usually takes 15 to 20 years to achieve. If you go in expecting to be rich overnight, you may become discouraged early on and give up your dream prematurely. Know that success takes time, perseverance, and it takes hard work. Give your business the time to grow. Only if your company is stagnant for a long time should you take it as an indication that you need to try something new.

We Can Help You!

Starting a business isn’t always easy. There are so many things to think about and decisions to make; the pressure can cause you to make a poor decision that can hurt your potential for success or set you back. That’s where we come in! Perspectivas Globales is your business incubator and accelerator that will bring you great tools for your business and yourself to alleviate the pressure. What are you waiting for? Contact us!
If you are interested in learning more about ways to improve your business, check out our other articles on our blog. If you would like to read more about how to organize and set effective goals in your business, check out the article How To Set & Achieve Goals For Your Business In 6 Steps.

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How to Develop your Brand’s Mission, Vision, and Values

How to Develop your Brand’s Mission, Vision, and Values

May 14, 2021 – Kelsia Melendez

Chances are, you created your startup for a specific purpose with a specific set of values in mind. Perhaps you have even imagined where your business could be 20, 30, or even 50 years from now. You know what your goals, dreams, and ideals for your business are. If you want to find a way to share those with your customers, this article is a must-read for you!
Inspire loyalty in your customers and workforce by establishing a mission, vision and values for your business using the following tips.
A mission statement is a great way to set expectations for your customers on what the purpose of your company is. Otherwise, you may end up with customers (and employees for that matter) that have no idea what your company is about. When creating a mission statement, consider the following questions:
  • What is our company’s purpose?
  • Who are our products/services for?
  • How do we accomplish our goal?
Make it clear what your ultimate goal is so it is clear why your company exists. Give your employees and customers a clear reason to be dedicated to your company.

Let's see an example

Tesla’s mission statement is “To accelerate the world’s transition to sustainable energy.”
This statement inspires loyalty in anyone who shares an interest in expanding options to protect the environment. Tesla’s purpose is clear and leaves no room for confusion.

Tips From a Human Resources Coordinator

Encourage your staff to work hard and stay motivated by working towards a clear goal. Work towards a mission that shows what your business stands for and why your company is worth supporting. What makes your company stand out against other employers?
While vision statements are goal-oriented like mission statements, the focus for a company’s vision should be on the future. Inspire your staff to work towards the ultimate goal of your business. When drafting a vision statement, consider the following questions:
  • Where does your company aspire to be in the long-term?
  • What impact will your company have on the future?
Think further ahead than your company’s mission and describe your business’s dream. What impact could your company have on the world 50 or 100 years from now?

Here is an example

TED’s vision is “ We believe passionately in the power of ideas to change attitudes, lives and, ultimately, the world.”
This grand statement reflects the ambition and hope of TED to impact the world on a fundamental level. For those who are inspired by the power of education, this is a worthwhile vision to support.

Tips From a Human Resources Coordinator

When creating your company’s vision statement, be sure to be concise. While a short phrase or two may not cover all of your future goals for your business, it is important to create an easily memorable vision for your workforce to stand by. Identify what your primary goal for the largest impact is and use it to guide your company towards success.
Your business’s values will serve as a guide to decision-making throughout your company’s life. When establishing your company’s values, think about how to create principles that embody integrity and competitiveness. Your business’s values should reflect your company culture and inspire like-minded candidates to join your mission and vision.

Example

Starbucks defines its company values as:
  • Creating a culture of warmth and belonging, where everyone is welcome.
  • Delivering our very best in all we do, holding ourselves accountable for results.
  • Acting with courage, challenging the status quo and finding new ways to grow our company and each other.
  • Being present, connecting with transparency, dignity and respect.
For someone who sees  inclusion as an important factor to look at when looking for a place to work, values are important to have labeled out in a place where everyone can see them. Creating a defined set of values for your company culture can help attract and maintain the workforce you need to make your mission and vision a reality.

Tips From a Human Resources Coordinator

In order to identify your company values, it is important to understand your audience. Consider conducting a research study to determine what is important to your workforce and company leaders. Keep your values list concise with no more than 15 values that reflect the emotional values in your workplace.
You have the  goals, dreams, and ideals for your business. Share those with the world through your company website, employee handbook and more!
If you are interested in learning more about ways to improve your business, check out our other articles on our blog. If you would like to read more about how a well defined mission statement can improve your business, check out the article 10 Things Every Entrepreneur Should Know About HR.

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3 Most-Reads for Every Entrepreneur

May 7, 2021 – By Aleanis Ramos and Kelsia Melendez

For some people, reading is an unnatural activity, because our brain is not used to keeping its attention fixed on a point for a long time; it immediately tends to get lost in the face of any new stimulus. However, when we read, we recreate the imagined in such a way that the same brain areas are activated as they do when we observe something that is happening in reality. All studies suggest that reading favors concentration, increases the gray matter of the brain, makes us more empathetic and has more professional success. And you, what are you waiting for to read?
If you are looking for a good read about entrepreneurship, we recommend the following books. Remember, reading transforms your mind. So, let the transformation begin!

3 Must-Reads for Every Entrepreneur

1. How to Win Friends and Influence People

By Dale Carnegie. Image Source: images.google.com
Do you feel like an impactful communicator and leader or do you have room to improve? In 4 easy-to-understand principles, you can revolutionize your influence within your company. Learn how to be effective and inspiring with a book that has sold over 30 million copies, and impacted many entrepreneurs and managers since 1936.
After you graduate college, it becomes harder to make friends and connections with people who are not your colleagues. But much of success is about building a network and making connections  in your industry, and that involves making people like you. But how do you make friends as an adult? How do you make people like you? It seems like a subjective process, but there are universal techniques you can use to help you make small talk a bit easier. There are classic principles in the best sense, and the fundamentals of this book are still applicable generations later. These principles do not revolve around trends or fads, they are just the building blocks of social intelligence, and how practicing good social skills can improve your life.

2. Our Iceberg is Melting

By John Kotter Image Source: images.google.com
Change is an inevitable part of life and business. How you deal with change makes the difference in whether or not your business will flourish or sink. This book contains an easy to read, amazing story about penguins and how change management saved their community – and how it could save your company one day as well!
Found key truths about how to deal with the issue of change: handle the challenge well and you will prosper greatly; handle it poorly and you put yourself at risk. Knowing how to make smart change happen faster and better, the lessons you can learn from this short and easy-to-read book will serve you well in your job, in your family, and in your community. These lessons are becoming ever more important as the world around us changes faster and faster.

3. The Lean Startup

By Eric Ries Image Source: images.google.com
The process from creating an idea to launching a product into the marketplace is much more complicated than one might think. In fact, 9 out of 10 startups fail largely due to the fact that they do not innovate or grow quickly enough. In this book, you will learn how to accelerate the innovative process, identify what consumers really want, and keep your business running through trial and error.
When you’re building a lean startup, you want to make sure that you’re constantly testing and validating your product so that it is in your customer’s hands as fast as possible. The Lean Startup Methodology will subsequently let you maximize your business growth. But how does one go about building a lean startup? If you want to begin building a lean startup, read this book.
Reading is one of the cornerstones for acquiring knowledge. Reading is one of the best hobbies we can adopt, especially as entrepreneurs. It will accompany us throughout our lives and will allow us to acquire new knowledge, to understand the world and everything that surrounds us… It also let’s us improve our spelling, the development and improvement of language (especially new ones), oral and written expression.It gives the facility to expose one’s own thought and enables the ability to think. Reading is a comprehension process that is very important for learning.
Share with us what books you have read or want to read soon! We want to know what books are of great interest to the entrepreneurial community. We look forward to your responses and invite others to subscribe to our newsletter to receive notifications about our blogs!
Let’s read!

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10 Things Every Entrepreneur Should Know About HR

10 Things Every Entrepreneur Should Know About HR

April 30, 2021 – Kelsia Melendez & Aleanis Ramos

For any entrepreneur that has employees or hopes to hire employees in the future, this article is a must-read for you! Human resources (HR) is a critical part of every successful business and a necessity to protect and organize company practices. People are in the core of every business in the world, and having the right tools to start managing your people operations is at the tip of your fingers. Here are the 10 things every entrepreneur should know about HR:

1. Create a Clear and Articulated Mission Statement

What is the ultimate goal you have for your company? I am sure this is a loaded question for every budding entrepreneur, however, it is essential that you be able to provide this answer succinctly. Not only do mission statements define what your company is to your customers, they also define values and goals for current and future employees to stand by.
A clearly defined mission statement encourages hard work and can help retain the motivation that your workforce (whether it be just you or 500+ employees) needs when facing the ups and downs that every company faces. What makes your company stand out? Create a clear message that shows your employees why they should work for you, rather than somewhere else. In the case of Apple, their mission statement is “to bring the best user experience to its customers through its innovative hardware, software, and services.” An applicant that values technological innovation is likely to be attracted by this statement and apply! Entrepreneurs should aspire the same.

2. Provide Clear Communication

Stress and confusion can be detrimental to productivity. Provide your employees with open, transparent lines of communication to show that you value their time and effort by giving them the information they need to produce quality work.
Involving your workforce in conversations about the company or by simply keeping staff informed of goals and changes can help keep everyone on board as your company develops. Of course, there is such a thing as too much information. Try not to overload your employees with detailed reports of any little thing going on. Information overload can create more confusion and stress.

3. Employee Handbooks are Actually Very Useful

Company culture can be unique and complex. Creating an employee handbook as a guide for your employees on company policies and procedures so that everyone can stay on the same page can save you loads of headaches.
Your employee handbook can be short and sweet or long and detailed. Feel free to include whatever policies you would like, such as dress code or vacation day procedures, as long as they are legal. Make sure to include the following in your handbook:
  • Harassment and discrimination clauses
  • Schedules
  • Benefits
  • Attendance policies
  • Sick days
  • Disaster and evacuation policies

4. Learn about Worker Classifications

What is the difference between employees and contractors? What benefits do nonexempt employees receive versus exempt employees? If you are not sure of the differences yet, it is time to learn. Benefits, tax laws and liabilities vary by type of employee so be aware of different worker classifications. 
An employee works for an employer with a defined schedule and location to perform their work. An employee generally uses company equipment and is paid either by the hour or with a salary. Contractors, however, can perform work for more than a single company at a time. They are typically paid per job and have more flexibility in designing their schedules.
Employees that are classified as exempt are not held to some rules defined by the Fair Labor Standards Act (FLSA). Nonexempt employees have protections for topics such as overtime, minimum wage, and more in accordance with the FLSA.

5. Develop Hiring Practices

While it may be tempting, do not make the mistake of hiring the first candidate you like. Poor hiring decisions can be very expensive! According to the Department of Labor, the cost of a bad hire can add up to as much as 30% of that employee’s earnings in the first year. 
Focus on creating a job description that clearly defines the expectations for the position. Afterwards, design an interview process to test each candidate for knowledge, skills and attitude that fit within the job role and company culture.

6. Build Recruiting and Onboarding Processes

Interviewing is extremely important, however, it is only a small part of the overall hiring process. When recruiting, consider the position that you are hiring for. Determine who your target candidates are and where would be best to display job postings. Additionally, you will need to prepare the following necessary paperwork:
  • Job Description
  • Offer Letter
  • Payroll Information (including W-4)
  • I-9 Employment Verification
  • Any Additional Agreements (such as a non-compete)
Set up your new hires to succeed starting on day one. Establish expectations and objectives from the get-go to decrease confusion and stress moving forward. Additionally, maintain an open line of communication and regularly check in with new hires for the first few months of employment while they adjust.

7. Keep Track of Important Documents

Documentation is very important and can help protect your company so make sure to create an organized system to keep track of important documents either electronically or in a paper filing system, but be sure to keep access restricted and the documents heavily restricted. Examples of important documentation include:
  • The I-9
  • The W-4
  • Payroll Information (routing numbers, wage rates, etc.)
  • Employee General File (emergency contact, address, etc.)
  • Performance Reviews

8. Understand Safety and Health Regulations

If you have a location for operations to run in, employees need a location that is safe to perform their job functions. Be sure to comply with local and federal regulations to protect your company and staff. Additionally, some industries must follow the Occupational Safety and Health Act (OSHA), so be sure to see if your company falls within one of those industries. 
An environment can be made safer by establishing emergency exit routes and procedures and action plans for emergencies.  Keep a first aid kit or other medical supplies available if necessary as well.
The atmosphere of a company can also be made safer by enforcing equal employment opportunities as well as sexual harrassment and discrimination policies.

9. Determine a Compensation and Benefit Structure

A competitive pay structure can help retain staff. Analyze the market to determine pay and benefits for different job positions. Be aware that some jobs may require specific benefits by law such as worker’s compensation.
Pay structures also need to be kept track of reliability, payroll errors can be very expensive. Invest time into researching what payroll management system best fits the needs of your company. 

10. Create a Performance Management System

How will excellent employee performance be rewarded? Create a system of performance reviews to track employee performance over time. This can be an excellent resource when looking into promotion decisions. Additionally, regular feedback can increase retention as your staff can feel more assured that they are performing well. Alternatively, if an employee is not performing well, documentation can aid in making further employment decisions. 
Ultimately, the best action you can take to protect your business is to develop a strong HR foundation from the beginning. Set expectations early with a clear mission statement, open communication and an employee handbook. Learn about different worker classifications and what is applicable to your start up. Develop a hiring, recruiting and onboarding process to find and keep strong candidates. Additionally, keep up with the details and create a system to organize all important documents and safety regulations. Last, develop a competitive pay structure and performance management system to attract and retain workers.
If you have found this content helpful, please consider checking out other informational posts for entrepreneurs on our blog!

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10 Helpful Lessons Learned From PG Startup Founders

10 Helpful Lessons Learned From PG Startup Founders

March 16, 2021 – Kalya Nuñez

Creating a startup as a new entrepreneur can lead you down a very bumpy road. Make your journey a little smoother with the 10 lessons learned from our startup founders.

The Startup Founder Journey

Building a new business from the ground up can be an overwhelming experience. There are so many new things to learn and even more things to do, every single day. This process can also create a lot of creative insecurities and leave you wondering if you are doing the right things, taking the right steps, and focusing on what is truly important. 
We want our community of entrepreneurs to feel confident in their ventures and have as many resources as possible at their disposal, so they can focus on creating the best possible product or service they can and leave the second-guessing behind. 
This is why we have asked the startup founders in our network to share with us a few lessons they have learned throughout their journey that can help upcoming entrepreneurs become better professionals.

10 Lessons Learned From Startup Founders

Lesson #1: Market research is key, no matter which stage of the process you are in.

The first lesson our startup founders learned is the importance of doing market research while seeking to develop a truly useful product, and how continuing to do it throughout the rest of your journey can help you stay in touch with your customer’s needs!
“Do your market size research before starting to develop your product. As good as you believe your product may be and as much as you might enjoy creating it, at the end of the day, you need people that want to pay for your product if you want your business to be able to sustain itself.”
Jaime Ginorio, FindIt
“Talk to your customer (or your future customer) as much as you can. This will help pinpoint the problems in your industry. It may even help you create a solution faster. And if it doesn’t, you still gain knowledge about the pains and the problems in that industry.”
Francisco Matos Ortiz, Immersive Learning

Lesson #2: Avoid marketing myopia if you want to create a sustainable business.

While researching and developing your initial idea, it is important to always keep in mind why you are doing this in the first place. You have to focus on the customer’s needs over the product or service you are selling in order to have a sustainable business.
“Fall in love with the problem you are solving. If you do not like the problem you are solving, or if you are in love with the solution but not the problem, then you will have a hard time letting things go and you will be on the road to failure. The beauty of entrepreneurship is not the solution. Instead, it is how you can change the life of a business or person for the better with your solution.”
Francisco Matos Ortiz, Immersive Learning

Lesson #3: Be mindful about staying true to your vision.

Doing market research and customer discovery can produce a lot of changes in your initial idea, and that is completely normal. The important thing is that you stay true to your long-term vision to avoid losing your focus.
“Customer discovery is an important part of the foundation process! Do it and prove your thesis, even if it means pivoting several times, but make sure you do not lose your vision. Staying true to your vision can be tricky, because, although individual objectives are important, your business is an entity of its own with its unique set of values and image. You have the fiduciary responsibility of this entity that also represents you as an individual.”
Jacobo Concepción, LabbGo

Lesson #4: You will learn through every step of the way.

Do not let an initial lack of knowledge hold you back! There are always ways to learn.
“You don’t need to have all the answers to get it going. At first, it was overwhelming because I didn’t know the first thing about running a business (and I’m still learning!). But, I made sure to apply to programs and seek out opportunities that gave me the business knowledge I needed. Even if you don’t apply to programs, you’ll eventually learn along the way. 
Keep learning, asking questions, seeking out opportunities, surrounding yourself with the right people, and you will make progress. Just keep moving, even if you don’t know exactly where you’re going.”
Jubal Rodriguez, FindIt

Lesson #5: Start small, and continue to build from there.

You will always want to make your product or service better, but it is important to stay realistic and know that your first release will probably not have all of the features you envisioned. Start off with just a few useful features, and build the rest as you go.
“You have to start somewhere. It’s ok if your product or service is only one small part of what you have in mind. If you don’t have a clear picture of what it can be yet, that’s ok too! As long as you are solving a problem or need, go for it. You will eventually add more features, services, and live up to the full potential of your product as you’re building it. 
At first, our startup was going to be a rental platform to help students search for college apartments. Fast forward to a year and a half later, and it’s now a real estate website that covers listings from all over Puerto Rico. In the next few years, it will for sure evolve into something we can’t even imagine right now and solve bigger problems, but you have to start somewhere to get there.”
Jubal Rodriguez, FindIt
“You will never reach perfection. Understanding this can be a big factor in your success. After working for years with developers and designers, it can be hard to manage expectations. Products or software will never be completed and you will always continue to make changes and improvements as you go. 
Initially, just try to launch something that works and that checks some of the boxes of what you want your product to be. Test it out, get feedback, and make changes as you go, starting from day one. If you keep waiting for the perfect product in order to launch, you will never end up launching. This only wastes a lot of invested money and time, and possibly even creates a product that your customers do not want.”
Orban Mendoza Valiente, Flexio

Lesson #6: Build a diverse, multi-functional founding team.

When thinking about who should form part of your founding team, think strategically and look for people who will add value to your product, service, or idea.
“Build your founding team with people that bring their own unique thing to the table. When we started, it was all about building the initial product. As co-founders, we were both involved in creating the product but our roles were very different, and I don’t think we would have made as much progress as we did if we were both working on the same things. Each person in your team must bring value.”
Jubal Rodriguez, FindIt
“One of the biggest lessons I learned when starting my first company is that you need people that compliment you and have the skills that you lack. As a founder, you cannot do everything. If it means you need to give part of your company to somebody else that can help you reach your goal, don’t hesitate to do it. Finding great partners is not easy, but they are out there. It also does not have to be your best friend, try reaching out to people that have that specific skill you need.”
Orban Mendoza Valiente, Flexio

Lesson #7: Quality over quantity.

As important as having a great founding team is, do not let it hold you back from creating something great. It is better to have one fully dedicated person than a full team of people who do not add value. 
“Don’t force any co-founders. If, at the moment, you don’t seem to know anyone that can be or fit the co-founder position, let it be. You’ll eventually find someone later down the road.”
Jaime Ginorio, FindIt

Lesson #8: Efficient communication will get you far.

As a startup founder, you will be constantly reaching out to others and writing emails, drafting proposals, and networking at events, which is why it is important to continuously develop your communication skills.
“Communications and its advances are the foundation of our modern society. Be clear and transparent with yourself, your associates, and your clients. Never stop reading, practice your writing, and develop an outstanding interpersonal communication by talking with new people every day.”
Jacobo Concepción, LabbGo

Lesson #9: Practice your patience.

Much like your communication skills, practicing your patience is very important as a startup founder. It takes a lot of time to see results, and you have to be ready to manage this.
“Be patient. There is no overnight success and there are a lot of highs and lows down this road. Just be consistent and patient with your vision and goals.”
Jaime Ginorio, FindIt

Lesson #10: Never stop learning and having fun!

Finally, you should always keep having fun and learning new things throughout your journey! If you are not passionate about what you do, it will show in your work.
“Have fun, keep learning, and bring families together – Immersive Learning’s Team Quote
To all the new entrepreneurs, don’t forget to have fun while on your journey, keep learning to continue to grow as a person and professional, and bring families together as much as possible with your entrepreneurial projects. Families can mean a community, a conjunction of businesses, and more. You, as an entrepreneur, give meaning to it as you see fit.”
Francisco Matos Ortiz, Immersive Learning
“Never lose sight of your goal and never stop having fun with your venture. You must love what you do, even when it becomes repetitive. If you’re going to invest your heart, soul and sweat in a project, choose something that makes you have a purpose in this chaotic and unpredictable world! ”
Jacobo Concepción, LabbGo

Which lessons have you learned so far?

As shown by these startup founders, there are never too many lessons to learn when working as an entrepreneur. Which lessons have you learned so far in your own entrepreneurial journey?

NOTE: Some quotes have been edited for clarity.

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How To Set & Achieve Goals For Your Business In 6 Steps

How To Set & Achieve Goals For Your Business In 6 Steps

April 9, 2021 – Kalya Nuñez

The most essential step in reaching success as a small business leader is learning how to set and achieve goals for your business both properly and effectively. If you struggle with coming up with realistic goals that will actually lead your business closer to your long-term vision, check out our easy 6-step guide below!

Why Should You Set Goals for Your Business?

Setting goals for your business is an essential part of achieving your long-term strategic vision. Without defined goals, it is hard to figure out if your business is moving at the right pace, or even if it is headed in the right direction. Small business owners should always set goals for their business during every stage of their company’s life cycle in order to make sure their project continues to grow and move forward consistently over the months and years of the company’s life.
If you are not sure how to set the right goals for your business or are having trouble bringing your ideas to life, the steps below will guide you through the process of setting appropriate goals for your business, analyzing if they are realistic and attainable, and making sure you create effective systems that will help you achieve them.

How To Set & Achieve Goals For Your Business

1. Think About the Big Picture

The very first step you should take when figuring out which goals you should set for your business is to think about your long-term vision. Analyze why you began your business in the first place and what you hope to achieve with it in one, five, or even ten years from now. Where are you headed?
This guide from The Balance Small Business is a great resource for writing your company vision, if you have not done so already, or for reviewing if your previous company vision is still relevant.

2. Start Breaking It Down

Once you have a clear idea of where you want your business to go, you can move on towards creating your goals. In this second step, you should take your long-term vision apart and divide it into a few smaller sections, such as financial goals, customer service goals, social impact goals, and expansion goals.
It all depends on where your initial strategic goal is. The sections you choose may be different from the examples provided here, and you can have fewer or more according to your own type of business and vision, but the general idea is to have three to five different sections you can begin to classify your goals in.
After creating your own sections, you can begin to write a rough outline of the specific goals you want to achieve within each classification. They do not have to be perfect at this stage, just clear enough to understand!

3. Follow the SMART Method

Now that you have a rough outline of your goals, you can begin to shape them into SMART goals. The SMART method for goal-setting is an amazing tool that can help you create well-structured goals. It is an acronym that, based on the SMART method guide from MindTools, stands for the following:
  • Specific – What do you want to accomplish? Who will be involved? Where will it take place?
  • Measurable – How will you measure success?
  • Achievable – What do you need to accomplish this goal? Are those resources actually attainable?
  • Relevant – Will this goal lead you closer to your long-term strategic vision?
  • Time-bound – When will you achieve this goal?
Goals that do not follow this method can be difficult to track and can even be time-wasters if you are not 100% sure that they will add to your vision, instead of taking time and resources away from it.
For example, a goal that does not follow this method can be written as “increase profit”. But how will you increase this profit? What do you need to achieve it? What is your deadline for completing this goal? How much more do you actually want to increase your profit? It leaves lots of unanswered questions that can cause confusion later on, so it is best to answer all of these questions before putting your plan in motion.

4. Plan How You Will Achieve Each Goal

After you understand what each of your goals are, you can begin to plan how you will achieve them. In this step, begin by considering all the aspects that can affect your goals, such as needing to hire additional employees, purchasing new software, or setting more time aside in your week to work on it. While completing the next step, keep these things in mind and work them into your plan.
Now, you can break each goal down even further into smaller, actionable steps. You can choose to divide them however makes more sense for your situation, such as daily or weekly, and you can set different milestones to mark important steps along the way, such as meeting the halfway mark or getting through the hardest stage.
There are hundreds of tools you can use to complete this step, so we have put together a list of our top 5 organization and planning tools for entrepreneurs that can help you create a great plan.

5. Create an Accountability & Support System

You are almost there! You have set your goals and created your plan, now all you have to do is make sure you actually follow through. The best way to do this is by sharing your ideas and plans with your team, employees, co-workers, or even friends and family members that can support you through your journey. These should be people you trust and who feel comfortable being honest with you.
This post by TalkSpace goes through important aspects you should pay attention to when creating a strong support system and the ways you can build deeper professional relationships within your existing network.
When figuring out what to look for in a support system, always remember that the purpose of having this group of people is so they can not only help you get through the rough patches and hard moments, but also hold you accountable for the role you play in meeting each of your goals.

6. Celebrate The Wins, No Matter How Small

Lastly, always remember to celebrate the wins, no matter how small they may feel! Whether it is finishing this guide, or making it a quarter of the way through your first goal, making sure to recognize efforts made by your team, employees, and even yourself are amazing motivators and can help you feel more confident when going after your next goal.

Which Goals Will You Set?

Now that you know exactly how to set and achieve goals for your business, make sure you share with us some of the most important milestones you will be going after during 2021!
Remember to make good use of the resources we offer on our website, and make sure you subscribe to our Monthly Newsletter so you do not miss out on any educational resources and events that can help you get even closer to your business’s long-term strategic vision.

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Meet Hemant Taneja, Your Guide To Global Entrepreneurship

Meet Hemant Taneja, Your Guide To Global Entrepreneurship

April 2, 2021 – Kalya Nuñez

Defining Your Entrepreneurial Journey

When starting out as a young, aspiring entrepreneur, the best way to learn the ropes quickly and efficiently is by sitting down with those who have already been through the process and asking as many questions as humanly possible. There is a limit to what you can learn from reading books and watching a few videos on the internet, which is why networking and looking for experienced mentors is so popular and important.
But, how do you do that? How do you begin to figure out what you have to do to be successful? How do you find out if you are following the right path, or even how to decide which path you should follow?

Creating Change In Our Local Community

There are so many aspects to consider when starting your own business or developing a great idea, both personally and professionally. We want our community of local entrepreneurs to have the opportunity to sit down with seasoned entrepreneurs and be able to learn from globally-experienced professionals who understand what you are feeling and what it is like to be in your shoes.
This is why we are sitting down with Hemant Taneja, a managing director at General Catalyst with extensive investing experience and an eye for successful startups, who began his journey just like you.

Meet Hemant Taneja

Taneja began his career as many of us do: looking for experience through college internships. In fact, he became the first summer intern for Dr. José Melendez, who now owns and manages DRMTES, LLC and its non-profit incubator & accelerator program, Perspectivas Globales!
With the experience he gained as a young professional, he became managing director at General Catalyst after founding the firm’s Silicon Valley operations, where he partners with startup founders to help build sustainable companies. He is a big believer in mission-driven organizations, which is why he became an early investor in companies such as Digit, Grammarly, Gusto, Livongo, Mindstrong, and more.
Taneja is also the founder and executive chairman of Commure, where he works with major health systems to modernize the software infrastructure of the healthcare space. In addition to this work, he is co-founder of Advanced Energy Economy, an organization that is seeking to transform energy policy in America.

Advocating For Responsible Innovation

Taneja’s work in the technology, healthcare, and energy sectors have inspired multiple articles and books about corporate accountability and responsible innovation such as “Economies of Unscale”, “The Era of Move Fast and Break Things is Over”, and “UnHealthcare”.
The entrepreneur is also big on innovative education, which is why he is a Founding Board Member of the Khan Lab School, a non-profit K-12 school, and sits on the Board of Fellows for the Stanford School of Medicine, where he teaches a course on A.I., Entrepreneurship, and Society.

Take A Step In The Right Direction

Taneja is an entrepreneur, investor, and educator with years of experience under his belt, which he is more than happy to share with other young entrepreneurs (like you!) who are still finding their path.
Take a step in the right direction and join us on April 15th at 11:00am AST to learn more about Hemant Taneja’s successes, lessons learned, and plans for the future that can help YOU become a better entrepreneur. Get your free ticket here.
Inspired from information provided by Danielle Stevens, John Wayne & the General Catalyst website

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10 Interesting Facts About Small Businesses You Need To Know

10 Interesting Facts About Small Businesses You Need To Know

March 26, 2021 – Kalya Nuñez

Are you thinking of starting your own business? See how you measure up with these 10 facts about small businesses that every aspiring entrepreneur should know before creating their own startup.

Are You An Aspiring Entrepreneur?

If you are reading this, it is most likely because you are considering starting your own business. Congratulations! Small and medium businesses are the very foundation of the global economy, and the world needs big thinkers and entrepreneurs like you to keep things moving forward.
However, although millions of people worldwide create their own businesses every single year, not all of these are able to reach success. When thinking about your small business and beginning to draw up business plans, it is always a good idea to research statistics about industry trends and benchmarks that can help you develop a clearer idea of what you are going up against.
These next 10 facts about small businesses are a great starter to help you grasp a better understanding of the world of business, startups, and technology!

10 Facts About Small Businesses Entrepreneurs Should Know

General Small Business Trends

1. Small and medium-sized businesses make up over 90% of all firms globally. On average, they also account for 70% of total employment and make up 50% of their countries’ GDP. [United Nations]
2. In the US, there are 31.7 million small businesses, which make up 99.9% of all businesses in the country. This means 47.1% of all employees are employed by a small business. [U.S. SBA]
2. As of March 2020, the number of businesses in the United States that were less than 1 year old was 804,398. [Statista]
When considering the impact of your business and analyzing potential competition, it is good to have a general understanding of the small business economy as a whole. These facts can help you dive deeper into the size of your specific industry and how difficult it will be to penetrate it, or even find new markets you can get a head start in!

Technology Industry Trends

4. The global technology industry is expected to reach $5 trillion in 2021, representing a 4.2% growth rate. [CompTIA]
This industry continues to grow year after year as our technology improves. More and more businesses are interested in going digital.
5. While the U.S. accounts for 33% of the technology market, the majority of spending, or 67%, occurs outside of the U.S. [CompTIA]
While the U.S. is the still biggest consumer, there are tons of opportunities for tech-based companies on a global scale.
6. AI-based revenues in businesses are expected to reach $100 billion by 2025, with healthcare, remote work, and education being its heaviest users. [Deloitte]
Artificial intelligence is one of the most popular tech trends at the moment, and there is a big opportunity to create products that can continue to push the healthcare, remote working, and education industries into going digital.

Entrepreneurship Trends

7. 81% of small business owners work during nights, and 89% work during the weekends. [Fundera]
Most small business owners work longer hours than the average employee. Are you prepared to face the entrepreneur lifestyle?
8. 53.78% of small business owners have a Bachelor’s degree or higher, which is much higher than the national average of 33%. [Fundera]
Entrepreneurs tend to pursue higher education much more often than the average person, so forget the “college drop-out entrepreneur” myth!
9. Millennials and Gen Z are 188% more likely to create a side business than Gen X and Baby Boomers. [SalesForce]
The younger generations are becoming the new face of entrepreneurship. Are you ready to go up against the competition?
10. Most micro-businesses need around $3,000 to start. [Business News Daily]
You do not need hundreds of thousands to get started! Start slow and build your way up from here.

Which Trends Do You Look Out For?

There are thousands of interesting facts about small businesses and entrepreneurship out there, so do not stop here! Researching industry trends and benchmarks are a great tool for coming up with ideas, strategies, and plans regarding your business. Which other small business trends do you keep an eye out for?

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5 Amazing Online Organization Tools For Students, Entrepreneurs, & More

5 Amazing Online Organization Tools For Students, Entrepreneurs, & More

March 19, 2021 – Kalya Nuñez

Do you have multiple pending meetings, a handful of presentations to plan, and weeks worth of work you are running behind on? Keep up with your busy schedule and stay on top of your daily tasks with these 5 incredibly useful online organization tools for students, entrepreneurs, and everyone else in between!

Are You Running Behind?

Life gets busy for everyone, but for students and entrepreneurs (not to mention student entrepreneurs), it can get a whole new level of busy. Juggling daily meetings, presentations, homework, product pitches, and more can easily make us feel overwhelmed.
When you do not use proper time-management techniques and organization tools to handle your day-to-day, things can quickly get lost in the mix. If you have ever found yourself lost in a sea of half-finished tasks with no real direction as to what you should do next, this post is perfect for you!
There are tons of online tools and apps that can help you  organize your tasks more efficiently, and even help you  in your planning processes. Below, I will be sharing 5 of the best online organization tools for students, entrepreneurs, and all-around busy people, so you can master your schedule and focus on your priorities!

5 Amazing Online Organization Tools For Students, Entrepreneurs, & More

1. Google Calendar

What It Is: Google Calendar is an online personal calendar.
What It Does: Google Calendar is a personal calendar that can be accessed through your free G-Mail account. You can create multiple personal calendars, share them with others, and add other people’s calendars to your account so you can compare schedules.
Each calendar and individual event can be color-coded and you can even set reminders for them. You can also schedule video conferences directly on the calendar through Google Meet. It sends your guests an invitation, as well, so you do not have to!

2. Trello

What It Is: Trello is a collaborative work management tool.
What It Does: Trello is one of the best-known tools for project management and collaborative work management. It has a free plan, which is amazing for students and startup founders, and you can add other users to your team so you can all keep track of the work that is being done.
In it, you can create multiple boards for different projects and multiple lists within each board for specific aspects of a certain project. You can then add individual tasks to these lists and have the options to create checklists, mark your priorities, add deadlines, write notes, and a ton of other features that can help you visualize each task’s scope.

3. Evernote

What It Is: Evernote is a note-taking app.
What It Does: Evernote is a dynamic note-taking tool, which also has a free plan. With it, you can type your notes, add images, record audio messages, save webpages, and scan documents in an organized, paperless way.
You also have the option to add highlights and make comments to your notes, documents, and saved web pages, which is great for jotting down quick ideas during class or meetings. It connects with multiple other apps so you can integrate your work, such as G-Mail, Google Drive, Outlook, and more.

4. MindMeister

What It Is: MindMeister is a popular brainstorming tool.
What It Does: MindMeister is an online brainstorming tool which you can use to collaborate with your team. It is a great, non-messy way to capture ideas visually through mind-mapping and can help jumpstart your team’s creativity when you are in the planning stages of a project. You can easily organize ideas and even turn your mind-map into a presentation right on their website.
If you have not already, check out our blog post on how to brainstorm effectively in a group, in which we cover what mind-mapping is and how to do it!

5. Zapier

What It Is: Zapier is a workflow automation tool.
What It Does: Zapier is a workflow automation tool that can speed up common business processes and save you tons of time on repetitive tasks. You can create multiple automated workflows for different actions, like sending automatic follow-up emails when somebody registers for an event. It can be integrated with tons of different apps and tools like email providers, social media platforms, project management softwares, and more.

Master Your Schedule

Now that you have the basics, you can get started on mastering your schedule and effectively organizing your day-to-day! If you are in need of an extra boost to help you figure out what exactly you have to do and how to do it while studying or working remotely, check out our post on how to keep up your productivity while working from home.
What other organization and productivity tools that are not featured on this list do you love to use?

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