Archives for February 2021

February
24, 2021

12 min read

Opinions expressed by Entrepreneur contributors are their own.

There was a time in my life when, determined to start and get out of the rat race, I met with my friends once a week and attended networking groups looking for the answer to a simple question: “Where is a good deal?”. In this process I had a partner: my friend Arturo, who was more or less along the same lines. We went from one place to another looking for a business.

Other times, like many, I would approach my friends or acquaintances who already had some success or whose business was growing. “Look at that” -he said to Arturo- “Pepe is doing well. There is the business, there is the money ”. And “The Business” could be literally anything: Selling houses, selling cars, selling gum, selling furniture, cleaning offices.

Then we analyzed them to “make a decision”, with words and phrases that we had learned in business courses. We asked “What is the Return on Investment of this business?” or “What type of platform do you require?” or “What can we learn from the Benchmark?” We were businessmen without businesses, without products, without customers and, of course, without money.

Not because we didn’t try, of course. During that decade we started or tried to start -some together, some separately- several businesses that failed: an “everything for the same price” store, a chain of vending machines, an app developer, a chair importer, a sandwich shop and even a worm farm! There was everything, but we just couldn’t find “the business”.

What were we doing wrong?

“All businesses are good businesses. But not all of them are for you ”.

This story is far from unique. It happens to thousands of young people and adults all over the world, every day of the week: after taking a business course or seminar, they decide they want to start a business. Then they “look for a business” among their friends or acquaintances, or with the same people who – coincidentally – already sold them the seminar.

If you go down the street, almost all the businesses you come across are viable businesses. That hardware store, that bakery, the painting on the poles and the spectacular signs. Everything is business. They are all good deals, but not all of them are for you.

Some are undoubtedly “better” businesses in strictly financial terms. Some have more profits, more sales or better returns. But beware! This is not the only parameter to choose a business to undertake. It is not even the most important. ROI is a great parameter to invest, but not to undertake. When it comes to undertaking, you have to start your search elsewhere.

And you already have that part. In fact, only YOU have it. There are thousands or millions of different businesses; But there is only one person with your DNA, your name and your surname, and that person is you. We are all unique in many ways and, above all, we are all born with a power that distinguishes us from others: that power is called TALENT.

PART ONE: THE TALENT

Talent is the first step to undertake. It is the set of abilities and natural powers that we are born with. Talent is a gift that is given to us, it is not up to us to have it; but it does depend on us to grow it, strengthen it and put it to work.

You have a particular skill set. Think what things are easier for you than for other people? What things come naturally to you? What subjects were easier for you in school? What things do other people say about you? Maybe your talent is numbers, maybe words, maybe relationships, maybe drawing, maybe sports.

We all have a talent. We may have more than one talent. But nobody, absolutely nobody, has all the talents. Talent is part of who we are . And if we choose a business or career aligned with our talent, then it will be much easier for us to find success there, stand out, sell, and grow.

Some people will tell you that “perseverance is more important than talent.” But they are wrong. If you’re not talented, it doesn’t matter how much perseverance you put in – you can never be the best. You might be “acceptable” or “sufficient”, but never the best. In clear terms:

• Talent without perseverance = Waste.
• Perseverance without talent = Mediocre.
• Talent and perseverance = Real advantage.

Therefore, the first step in starting a business or choosing a career is to look at yourself in the mirror and ask yourself, What am I? What are my natural talents? – It can be anything. All talents can be turned into a business: artistic, sports, scientific, manual, mental, and social. There is money everywhere for those who know how to put themselves in their ideal place, in their element .

STEP TWO: FIND YOUR ELEMENT

Another common conception when looking for a business is “do what you love” or “follow your passion” or some variant of this concept because, they say, if you do what you love, you will never have to work, do you agree?

Following your passion is important when choosing a business, but it is not the most important thing. The first thing, as we saw, is to find your Talent. Once you have defined what your talents are, the next step is to follow your passion and place yourself in your element, that is, place yourself like a fish in water, in the best possible place to enhance your nature and your personality. A passion is something that you can do for many hours, without getting tired, without getting bored, and that you would do even if you were not paid. It is something that you enjoy, that you love and that makes time go by without realizing it.

“Your element” – says Ken Robinson – “is the place where your talents and your passions meet.” Following only your passion can be a risky game, played by millions to poor results. “My dream is to sing,” says someone, but if you don’t have the vocal cords – a natural talent – then it doesn’t matter how much you “love” to sing. You will never go beyond being a common singer: there is not your career, nor your business, nor your mission.

Does it seem cruel to you? It is not. It is only realistic. If your dream is to be a footballer or a basketball player, the dream will be of little use if, like me, you have two left feet. Talentless passion leads nowhere and can become an inexhaustible source of frustration and defeat. So I repeat: do not seek business in what you love . Look for business in your element , which is the place where your talents and passions meet.

The same thing happens the other way around. Following a talent without the necessary passion to do it day and night, with perseverance and resilience, soon results in an abandoned career. In clear terms:

• Talent without passion: Boring job or failed business.
• Passion without talent: A great hobby. Is it fair!
• Talent and passion: Your element. It is the place where you can grow.

Looking for a business? Do not do it. Find YOUR business. The business where you can stand out – because of your talent – and what you can do even when things get difficult – because of your passion. Now yes: persevere.

Lastly, consider:

STEP THREE: SOMEONE WANT IT

For many years I have moved in certain artistic circles, among writers, poets, theater actors and musicians. Many of them resent the fact that there is “no market” for their talents, and that they fail to achieve a standard of living. They eventually end up leaving their element and taking a job in order to support themselves. They have missed a great opportunity.

In many cases, the problem is not that they are not in their element, they are: they love their art and are good at it. But still they can’t take off, what is happening?

The third step is key, because it is a necessary condition for any business, and it is something that everyone can learn if they set their mind to it, but that many leave aside. The third step is to find a market for what you do in your element. And believe me: there is a market for everything, and even more so in such an interconnected world. I know successful artists as well as successful lawyers; and successful philosophers as well as successful salespeople. Before leaving your element, stop and ask yourself, is there really no one who shares my talents and passions and who, at the same time, is successful in business?

As Seth Godin states in his latest book Linchpins (Essentials), just because you learn to sell does not mean that you are losing your essence. Finding your market may mean transforming your product, searching for platforms, changing continents, or rethinking your entire career. The world won’t magically reward you for doing what you love to do – that’s why there are artists and inventors and failed athletes. You need to do what few want to do: design your element as a business and not just as a hobby .

This involves parts that may seem “boring.” Make a plan, budget, hire people, promote, have an accountant, pay taxes. This is where many stop, because they just don’t want all of these problems. They want a business that is fun 100% of the time, but that doesn’t exist. In clear terms:

• No market element = Frustration and abandonment.
• Market without element = Nonsense and drift.
• Element with market = Your ideal business.

THE ORDER OF THE FACTORS DOES AFFECT THE PRODUCT

It is these three elements, and in that order! The ones I recommend you take into account when looking for a job, a career or a business. Money is everywhere, but first you must know who you are and what you want. Finally, find the tools to offer a value that the market recognizes as useful.

Your unique mix of talent and passion accommodates dozens of different businesses. Before considering a definitive business, write down the list of 10 or 15 things that fit in your element. If you are a painter, for example, your business may be illustrating books, teaching others, setting up a gallery, or inventing a painting system for children. Don’t close to the first option, or the obvious option, or what everyone does! Think outside the box and come up with ways to live in your element and build business. Don’t settle for less.

The sum of the three steps mentioned results in a successful business. If we put it in mathematical terms:

Or, if you prefer, in graphic terms:

The three steps, and in that order, are necessary to find your ideal business. I’m sure you can do it. For now, stop looking for “a business”! and, instead, discover YOUR business, the one where you will find an exciting life, you will help others, you will get paid well for it and it will give a totally different meaning to your life than just looking for the next check.

On the contrary, once you have found your ideal business, you can put it at the service of other people and causes. Money is necessary, but it is not the end goal of our life. Find your element, make it business and help others. It’s a different way of thinking about success, don’t you think?

Now look for it and if you find it let me know! I will be very happy to hear from you.

February
22, 2021

10 min read

Opinions expressed by Entrepreneur contributors are their own.

While the world is struggling to find answers to almost everything amidst uncertainty and the fall of deeply rooted paradigms, we are witnessing a pivotal moment for humanity that, although it is not known where it will lead, if you are prepared to take advantage of it, it can be an instance of growth like no other.

Beyond difficulties and conjunctures, we hear more and more talk about consciousness . What is it about? According to the dictionary definitions, “it is the ability of the human being to recognize the surrounding reality and to relate to it, as well as the immediate or spontaneous knowledge that the subject has of himself, of his actions and reflections.” From a spiritual perspective, consciousness is a heightened state of being, which can help to successfully solve problems of meaning about life.

As an example, it is awareness to listen to your own emotions, make decisions in full use of your internal and external resources, go within yourself, “introspect” wisely to find answers.

The needs that Maslow raised

To focus on the different levels of consciousness, I invite you to explore a combined approach between the pyramid of needs by Abraham Maslow and the 7 levels of consciousness by Richard Barrett, an expert in business and social cultural transformation.

Maslow’s pyramid, or hierarchy of human needs, is a psychological theory proposed by Abraham Maslow in his 1943 work “A Theory of Human Motivation, ” which he later expanded.

This theory focuses on five levels, like a pyramid. At the base are the basic needs, fundamentally physiological, that allow maintaining homeostasis to survive: for example, breathing and air quality, water and hydration, food, rest, avoid pain, maintain body temperature.

Then, security and protection needs , both in terms of physical and health, as well as resources such as housing, sustenance to live and employment.

Climbing the pyramid, social needs appear, represented by affective development, association and affinity with others, affection and sexual intimacy.

Next, the need for self-esteem . Maslow defined them as tall, characterized by self-respect, with feelings such as self-confidence, mastery, achievement, independence, and freedom; and a loss, related to the need for attention, appreciation, recognition, reputation, status, dignity and success and even fame. If these needs diminish, an attitude of low self-esteem and feelings of inferiority are reflected.

At the top of the pyramid appears the need for self-realization , focused on the development of their potential; in unlocking creativity and innovation, and in being able to realize their projects and ideas. Maslow also called them growth motivation and the need to be, and affirms that it is the highest psychological need of people, since it allows us to connect with the meaning of life. It is achieved when all the previous levels have been reached, or at least advanced to a certain point.

The 7 levels of consciousness

Building on Maslow’s work, British author Richard Barrett developed the theory of universal stages of evolution, and the concepts of personal and cultural entropy (transformation). At the same time, he created different evaluation methods to measure levels of values in people, companies and communities, including the 7 levels of consciousness.

Making certain parallels with the pyramid of 1943, Barrett marked 7 phases of consciousness with small differences depending on whether it is a person, an organization, a society; it even applies them to leadership consciousness.

The 7 levels of consciousness that Richard Barret raises are:

Level 1: Survival (in Maslow these would be levels 1 for physiological needs, and 2 for security). Here the focus is on guaranteeing survival not only physiological -health, eating, sleeping-, but also safety -income, housing-. It is a tangible, physical, concrete level. The first three levels are called “self-interest” by Barrett.

For companies, it would mean being aware of occupational health, having the appropriate structure to function, and obtaining benefits and profitability. Also in achieving and measuring the balance of satisfaction with the collaborators, and in guaranteeing the sustainability of the businesses as a means to be able to function, without ceasing to think about a more transcendent objective.

Level 2: Relationships (in Maslow it is level 3, social needs, affiliation): it focuses on affection and belonging to a tribe (groups, teams, affinities).

If we transpolate it to the organizational world, it is reflected in loyalty, the internal climate, the value chain. Also with the interaction with others with similar interests, social relationships, affiliative links with other representatives of the sector, fostering agreements, alliances and common business.

Level 3: Self-esteem – esteem (it is related to that same level, which is 4 in Maslow’s pyramid): it has to do with affection, prestige, respect, and with the recognition of others and of oneself; also, with achievement and differentiation, from the construction of self-leadership and self-confidence.

For companies, this level reinforces the self-esteem that it is possible to achieve great achievements working as a team. Also here are the stimuli of extrinsic motivation such as the emotional salary -which is not remunerative-, in the form of congratulations, recognition and listening skills. Used well, quality feedback can also foster corporate self-esteem, as well as continuous improvement of processes, quality and good practices, ethics and shared values.

Level 4: Transformation (connects with level 5 of self-realization). Here Richard Barrett creates 4 levels of consciousness, this being the trigger for higher levels pursuing the common good.

It is about personal development, evolution, lifelong learning and the unfolding of potential. It is a stage of evolution and learning from the permanent desire to question, search and explore in consciousness.

When we bring it to the world of organizations, this translates into the need for continuous evolution, reinvention, and innovation. It could be said that the cultural change in a company begins at this level of consciousness. To achieve this, they will need to work on team cohesion and on generating improvements and challenging opportunities that transform challenges into collaborative learning; and in generating transversal transformations.

Level 5: Internal cohesion (related to level 5 of self-realization) Following Barrett’s 4 higher levels of transformation of consciousness, the intention is to work on leaving the individualistic mode of the “I” to go to the encounter of a “we”. It applies to both individuals and companies. Here appears a consciousness of shared vision, where there are values at stake that are the ingredients that unite them: trust, integrity, honesty, communication, authenticity.

Companies can work on these aspects, generating opportunities for meetings, teambuilding , attracting the best available talent, and generating a community that creates a strong and solid culture, consistent and sustainable over time. Embracing a common cause often achieves this cohesion.

Level 6: Contribution (also related to Maslow’s level 5 of self-realization) This is about focusing on the contributions of value that, as individuals, we make to society. They can be thought of as part of the legacy left by living in the world, that is, leaving a mark.

In companies, it is possible to focus on these value contributions directed towards the customers of the products and services; towards suppliers, distributors, etc., and, of course, towards the internal public: collaborators at all levels. For example, providing equal opportunity treatment to suppliers viewing them as strategic partners is part of this spirit of contribution, and raises the level of consciousness since it goes beyond the merely transactional (I give you = you give me). In time, this generates an increase in the level of consciousness and is connected to the transcendent legacy. The result over time will be to leave a mark on the market segment where they operate.

Level 7: Service (complements the same level 5 from Maslow). Here people connect with a greater purpose: Why did we come to this world? What is my role? What legacy am I going to leave?

In the business world, it is the level of consciousness to solidify in the long term through ethics, to think about the generations to come, to make valuable contributions to humanity; in corporate social responsibility and in friendly dynamics with the environment and inclusion policies of all kinds. It is thinking of acting for the greater good, not just petty self-interest.

^{Image: Daniel Colombo.}

Conclusions

As you may have observed, levels of consciousness are values, and values are transformed into culture, whether you work on it personally or as a company.

It is a gradual process, which needs the same as all good construction: strong pillars. The suggestion is to allow time for the process, and allow individual and collective maturation at your own pace.

The end result will be greater coherence, a feeling of internal well-being and greater responsibility and commitment; because there is no going back once consciousness has been raised. You can lose your way at times, although consciousness will always be a guide to get back on track.

February
18, 2021

6 min read

Opinions expressed by Entrepreneur contributors are their own.

One of the most important lessons from my time as an entrepreneurial ecosystem weaver is just because the landscape looks more fertile elsewhere, that doesn’t mean it’s magical. There are entrepreneurship ecosystems that look more lush because they are artificial, they receive fertilizers and pesticides, because they are retouched with Photoshop or because the comparison game simply does not allow us to see things clearly.

When I think of how Latin American entrepreneurs traditionally view Silicon Valley , I think of how much we are missing by looking there as if it is somehow better than what we have here. Silicon Valley and the biggest companies that are built on its foundations are often considered unicorns – mythical entities with stratospheric missions and the venture capital to prove it.

It may seem that, as Latin American entrepreneurs, our goal should be to aspire to any combination of qualities that will lead those companies to success and notoriety, but what if I told them that the real job shouldn’t be to try to emulate their process, but instead to honor our local processes?

For a couple of years, the metaphor of “zebra companies” was born in startup circles, which in contrast to unicorns, are real, grow collectively and firmly anchored in their communities. The business history of Latin America is full of examples of endurance, innovation and resilience that cannot be learned or taught in webinars – it has to be lived fully. We have a story that not only encourages us to be the zebras of the corporate world, but reminds us that we are already those zebras, we just have to choose to adopt this narrative with great honor.

Our countries have seen political revolutions, natural disasters, and currency instabilities, and yet our goods and services do not collapse. While Silicon Valley has built a foundation for its businesses that is often backed by its government, our infrastructure is different, but not worse for that.

Latin American companies and entrepreneurs who choose to innovate within our countries may not always have the support of our governments or have rescue methods, but they do have a community and a center of values that remains faithful no matter the circumstances.

One of my favorite quotes is that of Humberto Maturana, a Chilean philosopher, who said the phrase: “The most important thing about innovation is what you want to conserve …” The COVID-19 pandemic has been an excellent example of how to adapt to new Circumstances focused on what does not change have benefited a company like mine and our community.

^{“The most important thing about innovation is what you want to preserve …” / Image: David Tomaseti via Unsplash}

At IMPAQTO , our spirit is based on community. When the global pandemic started, as a Company B , our coworking network had funded our efforts to incubate, accelerate, and fund entrepreneurs building businesses that have a positive impact on our communities and on the planet. In the midst of the health emergency, we had to learn to satisfy the market demand, which was now looking less for a physical space and more for what was happening in an intangible way between the walls of that space: our community needed its community.

Through virtual hackathons , we find ways to mobilize our community of startup founders and change agents to create solutions that support UN agencies, NGOs and WHO in the challenges related to the pandemic around the gender violence, homelessness and migration.

Our own pivoting showed me that there is tremendous power when we focus on the long term of being a zebra in a world of unicorns and appetites for quick rewards. It’s not always the sexiest way to grow a business, but I see longevity in this narrative because it’s built on people and communities who are willing to help sustain it.

My belief in the zebra mindset is confirmed when I observed, for example, how three founders of the telemedicine platform Goctors serving senior private physicians spent six weeks working double shifts to switch their services to serve the clients of the bottom of the pyramid after realizing that populations at risk had even more limited access to health care.

Or, a food delivery company, Tipti , whose founders may have been solely focused on growing their user base during the pandemic, decided to continue the human aspect of their business and built a special platform for elderly customers to receive phone orders for those who They do not use smartphones or applications.

As a zebra company, the pressure stops focusing on scaling and acquiring users at any cost; Instead, it focuses on the possibility of protecting and growing seeds in our communities that will help rebuild and conserve our region time and time again.

I am not against companies that follow the unicorn model, I just hope that Latin American entrepreneurs know that a unicorn model is not the only way to build a company. Most importantly, instead of trying to build an entirely new foundation to make unicorns viable in our Latin American countries, perhaps we should use the foundation we already have and see zebras thrive as engines of economic reconstruction, this time. focused on our communities.