Investment is not an insurmountable necessity to successfully start a business. Entrepreneurship has gained great relevance due to the need of many people to achieve their independence and economic stability. High levels of unemployment have prompted people to analyze new ways to generate their own resources, to start their own businesses, materialize an idea into a business with potential and move from being employees to being employers. Aaron Rodriguez, an expert in entrepreneurship, provides some key aspects to be able to run a business effectively.

Rodriguez has been helping entrepreneurs turn their ideas into businesses with growth potential and value generation. He assists them in structuring their business model and identifying key opportunities for start-up, acceleration and consolidation.

“Experience has shown us that no external investment is required to successfully start these initiatives,” Rodriguez says. “The first investments usually come from own resources, friends or family members who are willing to support the initiative.” Under this logic, the entrepreneurs' commitment to seek resource efficiency, as well as to rigorously validate their business hypotheses, begins to take shape.

A solid validation exercise is a key to determining the commercial viability of the business idea and confirming its acceptance by consumers. This methodology, an intermediate point between ideation and invoicing, facilitates the generation of the first sales, increasing the probability of success of any venture.

A venture that does not invoice or that does not have scalability potential, in the opinion of serial entrepreneurs, is simply a hobby. Validating involves an (almost scientific) process of experimentation. The entrepreneur starts from some assumptions provided by the market, verifies his hypotheses in the market, generates conclusions and accumulates the lessons learned as a starting point for his business model, with a view to satisfying a duly identified need.

After validation, it is very important to quickly design and develop a prototype. By turning the business idea into something tangible, opportunities to improve the product or service are detected in order to minimize risks. This process should also be understood as an opportunity to generate resource efficiency and to make the necessary adjustments to achieve market acceptance.

A prototype is, in general, a quick and inexpensive test. It is to make ideas tangible to quickly adjust and enrich the project, seeking to give the best possible response to user or consumer demand. On the other hand, a good segmentation of your target market from the beginning is very important. Detecting the appropriate marketing channels and managing basic information on the financial impact of the decisions taken are some of the aspects that the entrepreneur must take into account from the beginning of his project.

“The creation of networks of contacts, which facilitate access to potential customers and marketing channels that are identified during the validation of the different prototypes, is a determining component in the success of a venture,” suggests Rodriguez. “Undoubtedly, one of the great benefits of having the support of a business incubator is having access to a network of mentors that allows the entrepreneur to capitalize on these relationships and contacts.”

Great entrepreneurs and business leaders play a very important role in mentoring and mentoring processes for new businesses. Their experience and knowledge of the market provide a strategic vision that clearly adds value for the start-up company.

In the world, large entrepreneurship ecosystems have successful entrepreneurs who dedicate time to new entrepreneurs and their expertise becomes a key guide for the success of each nascent business. This dynamic must be acquired by the great entrepreneurs, in order to consolidate an ecosystem where more and more new businesses are transforming the world.

About Aaron Rodriguez

Aaron Rodriguez is an expert eCommerce consultant in Latin America. He helps businesses throughout the region optimize all of their eCommerce operations to increase sales and retain customers, and also has extensive experience in the development of strategic and external alliances to promote departmental and organizational objectives. He has traveled extensively throughout Latin America to assist a number of companies and, when he's not traveling, he dedicates all of his available time to his wife and children.

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