Business development programs at the Puerto Rico and world levels are dedicated to promoting and expanding the capacity of participating entrepreneurs to drive growth in their companies and achieve global scale. One of the most frequent questions that entrepreneurs ask is: How can I accelerate my growth? Undoubtedly, the answer to this question is not simple, but experience tells us that companies that achieve sustained growth have the following qualities in common:
- They constantly identify new business opportunities: either the creation of new products or services, the extension of relationships with current clients, or the entry into new markets
- They encourage "self-criticism": examine your business structure, formal and informal authorizations, processes, your products and services, your customers; recognize that everything that “got them where they are today,” may no longer serve the purpose of getting them where they want to go
- They are clear about their value proposition: have validated their products and services, and their new ideas, with potential customers; they are sure that “someone is willing to pay” for what they offer or plan to offer
- They are not afraid of failureAlthough failure is never easy, companies that have achieved sustainable growth manage to overcome this fear because they believe that the potential presented by the growth opportunity is greater than the risk of failure
- They go beyond simply reacting to circumstances, they are proactive and innovative: the leaders of these companies do not "let things happen," on the contrary, they are proactive in their actions and innovative in their ideas, always seeking to "go further" to achieve the goal
The innovative entrepreneur, and growing companies, are the key to overcoming the current economic crisis. As an organization, we have supported the growth of more than 1,800 start-ups During the past 10 years through EnterPRize, our business competition and we have 55 companies graduated from our Guayacán Venture Accelerator (GVA), these companies are the living example that it is possible to grow, even in times of crisis.
If you are an entrepreneur and you are looking for aggressive growth strategies, participating in programs such as GVA, founded in 2010, is one of the first steps you can take. Programs like this are distinguished by providing high-quality content taught by distinguished instructors - academics and professionals - both international and local. The programmatic approach of this type of program is crucial, since they focus on providing knowledge and tools so that participating companies can analyze their current business model, identify growth strategies, establish a work plan to execute these strategies, and learn about the financing alternatives available to facilitate the accelerated growth of your businesses.
I invite you to accept the challenge, dare to accelerate your growth! Orient yourself in www.guayacan.org.
By: Laura Cantero
Executive Director of Grupo Guayacán, Inc.
Laura Cantero is Executive Director of Grupo Guayacán Inc. (GGI). GGI is a non-profit entity, founded in 1996, with the objective of leading the development of a business ecosystem to foster global companies and entrepreneurs that are the engine for the creation of economic and social value in Puerto Rico. Before joining the Guayacán team, Laura was Director of Programs at Foundation for Puerto Rico and Manager of the Ernst & Young Latin America Financial Services Advisory (LAFSA) practice in Panama. He has over 10 years of experience in the financial services industry in Puerto Rico and Latin America, and holds a Bachelor's Degree in Economics from The Wharton School, University of Pennsylvania and an MBA from IE Business School in Madrid.