(From PINK Blogs from Abroad Latin America, by Lara Bersano)
Latin American women are thinking and putting in practice new ways of doing things now more than ever. These are tough times for entrepreneurs, and for business in general, so if you think that your job is in jeopardy, maybe it’s time to start doing things differently, reach for the stars and take a step towards business independence. Your agenda, contacts and friends will be key at this time.
Latin America has always been at the top of the list for entrepreneurs. And women have led this segment for decades.
What triggers in women the idea to start a business on their own in Latin America is usually what makes you think and act differently everywhere in the world: higher unemployment, lower spending, layoffs and an economic downturn which has been very usual in the region.
Women who are employed in big and medium corporations often get the opportunity to talk to their bosses and present alternative plans for their job and responsibilities. This is usually seen in communications, marketing and HR departments. After gaining enough experience, women can start their own businesses, serve the company they worked for as an employee and even reduce costs for their company as services can be provided at lower costs.
It is not easy to start your first business during a recession, but it may be the only chance to keep on going in your career, work with passion and dedication in the business area you love the most and succeed.
Sometimes, difficult times made superb women think about their own goals in life and provided the opportunity to take that one step that turns them from employees to entrepreneurs.
Some things you may consider if you are considering to make that change is that you will probably need more than one client to provide the income you need to start a successful business. In times of recession it is better to have small clients rather than one or two big clients that could cancel contracts at any time. Reduce the risk as much as possible, even if you have to lower your prices a little bit and invest in relations more than in strong contracts.
Small clients are probably not the ones that make you rich but are the ones that will definitely keep you in business. Small clients are the ones you have to target in tough times. (But beware of those small clients that are sometimes a headache – you will probably want to avoid those completely). Remain loyal to your smaller clients and provide extra services whenever you can at no extra cost. This may prove very profitable in the end.
In Latin America what makes women think about becoming independent are some of the following factors among others:
1) Wages are really low in Latin America, so if you work really hard and have a vision and a mission for an endeavor, it is always better to plan and strategize and work on your own endeavor, looking for financial independence.
2) Having the time to care for family is an important factor in Latin America and building a woman’s own business can give her the independence and freedom to manage her personal agenda. She will quickly adapt all aspects of life to her new endeavor and it is definitely one of the nicest facts in life to balance work and family. Better if it’s your own business.
3) Women who have worked in corporations for more that 15 years think about business independence more than ever. They know the business, the industry and have a good knowledge base and great contacts. This is very common in the business services industry.
Starting and running a business in Latin America is not easy. What makes it work is probably the strong personalities of thousands of women in the region that have succeeded “against all odds”.
Latin America has become a competitive region in many fields (IT, software, food production, automobile industry, communications, graphic design, fashion, media, entertainment, call centers, manufacturing, etc.) in part because of small and medium entrepreneurs who have and are working to develop competitive companies. Latin America doesn’t have many big companies like the ones you know in the U.S.. Instead, we have medium and small companies, perfectly adapted to international trade and global relations, who serve their clients and provide products and services of the highest quality.
The region is full of companies reaching for international trade that have conquered global markets because of their great service and competitive prices.
Maybe it’s time to make things different, to make changes and explore new business opportunities between independent companies in the Americas, and we can all grow and succeed together.