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News Article

The Role of Entrepreneurs in Mexico

By Jorge Ramos Zwanziger | Tue, 01/05/2021 - 15:14

According to the World Economic Forum, social entrepreneurs are relevant in today’s market because they represent a social safety net for inequalities in the world economic system. In 2021, they play an even bigger role, as they represent an agent of change, which has the ability to modify and alter the structural rigidity in various countries, reports Expansión Política.

Mexico is a country with large inequalities. This makes entrepreneurs vital for innovation in Mexico because they can allow for the creation of digital tools and financial inclusion in many different sectors, with many looking for ways to ameliorate the challenges the digital world poses and offering opportunities to overcome them.

Entrepreneurs are important for industries to evolve and innovate, but how can they do this in 2021? Juan Carlos Castro, Co-Founder of Briq Fund, collaborated at MBN with an article discussing fear and its impact in important decision-making. “The most important and recurrent activity that an entrepreneur faces is decision-making. The position from which decisions are made has a great impact on the direction of your company. If the answer to fear is to protect yourself, the vision with which the decision is made will likely fall short,” he wrote. It is important to know how to face fear and make it your ally, not fear it.

Rene Freudenberg and Daniel Pandza, CEO and CIC at Interlub Group, respectively, wrote an article for MBN discussing innovation where they give recommendations to entrepreneurs. “Many opportunities hide in plain sight. Practice looking at the market through different lenses until you find underserved spaces and relevant customer pains before firing all your innovation resources at ‘the next big thing’.” Their advice looks for ways to change paradigms in different industries, to avoid thinking of innovation in the same way and for entrepreneurs to address different markets and different consumers.

Rodrigo Segal, Coordinator at Justo, wrote an article for Entrepreneur where he also advises future entrepreneurs to take advantage of key aspects of a business to thrive in 2021. “Actively listening to the needs of your potential clients will help you guide your venture towards what the public really requires and offer solutions with long-term growth potential,” wrote Segal. He also recommends using certain tools to keep entrepreneurs motivated in their endeavors. “Some useful tools are to set short and medium-term objectives, to visualize what we want to achieve and the resources we have and to recognize the factors that we cannot control, as well as to prepare ourselves to determine what risks we can take.” All of this to be properly motivated in an uncertain economic environment such as the one following 2020.

The data used in this article was sourced from:  
MBN, Entrepreneur, Expansión Política
Photo by:   Free-Photos, Pixabay
Jorge Ramos Zwanziger Jorge Ramos Zwanziger Junior Journalist and Industry Analyst