It is important to support the companies that have the opportunity to advance the country’s economy.
3 min read
s and small business owners are essential to the country’s economic recovery. People say that Despite the vision of starting a new business, one in three Mexicans is afraid to run it and give up your idea. Given this situation, Wortev, an accelerator and private equity fund, is trying to turn the statistics around and help more Mexicans do it.
For Denis Yris, Founder and CEO of Wortev, “The company takes time and commitment, but it is important to develop a business plan that will allow them to understand in detail the economic and operational viability of the project. 75% of companies that previously ran a business plan survive, ”he commented.
Therefore, Wortev shares five key points for the planning phase of the business plan:
- Know the offer and your market. It is important for business owners to conduct market research to understand the strength of their product and how to introduce a new offering.
- Determine how you can acquire and retain customers. How do you plan to find your customers and keep visiting them? In this exercise, it is worth thinking about even the smallest details, as it is not enough to say that you can find them on the internet.
- It’s not enough to be the best, you have to be competitive. How easy it is to get, including its durability. Find out what your direct competition is and how you differ from it.
- Make financial forecasts. When you sit down to come up with numbers on the market that you could cover, you need to do so hand in hand with the strategy you need to follow to make it happen.
- Use graphic and visual elements that make your ideas come true. Pictures can carry more weight than words, try to include graphics or support each other with photos or other visual elements that facilitate understanding and appropriation of your project, goals and processes. Think about how you would present it to an investor or your team of employees.
“More than 7 million people depend on entrepreneurs and their ideals, on the project that is being developed today. It is important to support the companies that have the opportunity to advance the country’s economy, ”emphasizes the manager.
According to data from ENE (National Survey of Graduates of the UVM), 22% of graduates start their own business making more than 15,000 pesos per month, which shows that entrepreneurship is undoubtedly still the best opportunity to get ahead.
“With its model, WORTEV is reducing the operating costs of small businesses, saving less time and increasing sales with the support of its multidisciplinary and specialized team, technological infrastructure and growth capital,” concluded Denis Yris.