Mario Medina, Luis Yáñez and Juan Mena have launched Hacks Master, a portal where first-time entrepreneurs can find high-level mentors.
Read for 4 minutes
The opinions of the employees of s You are personal.
What is it and how does it work?
The success of your company can cost a lot of time and money, especially if it starts to grow without a strategy. The famous “Valley of Death” is one of the biggest obstacles that every entrepreneur goes through. This is a period in which the likelihood of the company going bankrupt increases due to the increase in losses and costs. In other words, it is the moment when a company begins to grow, but does not find its equilibrium point to sustain this development.
Knowing how to run a business is a skill that is developed with experience. Although there are countless courses that teach you how to run a business, the results when you put it into practice can vary depending on the situation. With this idea, Hacks Master was born, a portal for all those entrepreneurs who had to overcome all the obstacles that arise along the way and are looking for the support of a more experienced businessman or a more experienced businesswoman.
“It is always good for any entrepreneur to know about the experience of someone who has already been successful,” said Mario Medina, who recognized the need for support when starting a business and decided together with Luis Yáñez and Juan Mena to create the portal.
The site works like this: The user enters and finds videos and opinions of great entrepreneurs who have dared to leave everything to follow their dreams. His specialists include Manuel Gutiérrez Novelo, one of the Mexicans with the highest number of technological patents.
Using this platform is very easy. All you have to do is go to the website, register and log in to see that the portal is divided by different characters. The video is separated by different segments of an interview, in which they talk about their experiences as entrepreneurs.
Indeed, Master hacks It offers its service free of charge and you can register without having to pay any remuneration or financial contributions. However, it is expected in the future that there will be certain courses or services that will have financial value for those who want to access them.
Mario Medina, Luis Yáñez and Juan Mena, founders of Hacks Master / Picture: Courtesy Hacks Master
Why did it get our attention?
According to the National Institute for Statistics and Geography (INEGI), there are about four million companies in Mexico, of which 98% are small and medium-sized enterprises (SMEs). However, 80% of them fail before the age of five and 90% do not reach the tenth year.
A survey conducted by Kabbage Inc., a financial technology company, found that 63% of entrepreneurs do not have professional care or guidance when starting up their business, 22% when starting up, and 17% with limited advice. However, 92% of respondents said that counseling is crucial for the first few years of a company, as only a third of the companies are the ones who manage to survive their first ten years.
Hacks Master aims to prevent these companies from failing by helping big entrepreneurs and experts who started like all entrepreneurs directly: with an idea.
The platform was launched earlier this year, but has grown rapidly and has garnered almost 20,000 followers on Instagram alone.
“Hacks Master is a portal born out of the need for entrepreneurs to have good advice when opening their business,” Medina said in an interview s in Spanish.