In the last decade, we saw how Latin American talent gained greater relevance in the world of technology business. So much so that the entrepreneurial ecosystem of the region was positioned as one of the maximum references in innovation and development. In fact, Latin American technology companies represent 3.8% of the region’s GDP, and the number of companies valued at $1 billion is close to doubling year on year. Jorge Zuñiga Blanco, a lifelong entrepreneur and business expert, provides insight into what it takes to be an entrepreneur in the evolving Latin American market.
With different business strategies, Latin American technology startups – that is, those companies that are still in their infancy – are strong in their markets. They generate value for society and create jobs, economic opportunities and new solutions for the recent needs of hundreds of thousands of people.
In order to succeed, there are several considerations entrepreneurs need to keep in mind. The first is to recognize that there is everything to build. You start from a white canvas, so understanding the business model in depth is essential for the creation and execution of the indicated actions.
At the same time that we learn, we are educators: assuming that the rest of the areas and leaders understand the work of the communicator is a mistake. We must share our knowledge and the importance of reputation for the development or purpose of a brand. Simply put, don’t underestimate the positive impact communication can have on all areas of the business.
Identify the mission. Explains Zuñiga, “People don’t buy what you do. Instead, they buy why you do it. You must show what you believe.”
In every startup, there is a mission – which goes above commercial plans – and a purpose – that explains why we do what we do, the engine that moves us day by day. The work of the communicator is to put it on paper, make it a reality, and, even more, enhance it. If the purpose is present in each message, it will undoubtedly be much more inspiring for the audience.
Reputation is built over the long term. Everything we do for the company speaks of who we are. From our area, we can contribute to the business from innumerable aspects: either to generate trust or credibility, attract talent or financing.
Therefore, in each communication strategy outlined, the stage of the company must be taken into account. We do not communicate the same when the startup goes through an investment round as when it launches a particular product or service.
Change is the only constant. On the entrepreneurial path, adaptability and agility become indispensable soft skills. Plans are going to change permanently and it’s natural that happens. To accompany the business, the communicator must be flexible, continuously reinvent himself and priorities, make friends with the vortex and take risks.
Lastly, the success of a startup enhances the ecosystem. Each communication achievement is a contribution to the positioning of Latin American entrepreneurial talent. And, in the medium term, this translates into more opportunities for the sector and progress in the region.