Aaron Rodriguez discusses why having a solid business plan is important for success

Investment is not an insurmountable necessity to start a successful business. Entrepreneurship has gained great importance due to the need of many people to achieve independence and economic stability. High levels of unemployment have prompted people to analyze new ways to generate their own resources, start their own business, turn an idea into a business with potential, and transition from employee to employer. Entrepreneurship expert Aaron Rodriguez provides some key aspects to being able to run a business effectively.

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

Experience has shown us that no external investment is needed to successfully start these initiatives, says Rodriguez. The first investments usually come from own resources, friends or family members who are willing to support the initiative. In this logic, entrepreneurs’ commitment to pursuing resource efficiency, as well as rigorously validating their business assumptions, is beginning to take shape.

A solid validation exercise is essential to determine the commercial viability of the business idea and confirm its acceptance by consumers. This methodology, intermediate point between ideation and invoicing, facilitates the generation of the first sales, increasing the probability of success of any company.

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A business that does not charge or have the potential for scalability, in the opinion of serial entrepreneurs, is simply a hobby. Validation involves an (almost scientific) process of experimentation. The entrepreneur starts from certain hypotheses provided by the market, checks his hypotheses on 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 transforming the business idea into something tangible, opportunities for improving the product or service are detected in order to minimize the risks. This process should also be understood as an opportunity to generate efficient use of resources and make the necessary adjustments to achieve market acceptance.

A prototype is, in general, a quick and inexpensive test. It is a question of concretizing ideas to quickly adjust and enrich the project, by seeking to respond as well as possible to the request of the user or the consumer. On the other hand, a good segmentation of your target market from the start 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 start of his project.

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The creation of networks of contacts, which facilitate access to potential customers and marketing channels identified during the validation of the various prototypes, is a determining element in the success of a company, suggests Rodriguez. Without a doubt, one of the great advantages 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 to the start-up.

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

About Aaron Rodriguez

Aaron Rodriguez is an expert e-commerce consultant in Latin America. He helps businesses in the region optimize all of their e-commerce operations to increase sales and customer loyalty, and also has extensive experience in developing strategic and external alliances to advance departmental and organizational goals. He has traveled extensively throughout Latin America assisting a number of businesses and when not traveling devotes all of his available time to his wife and children.

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