Causes of failure on Mexican entrepreneurs
Mexican is a country fill with entrepreneurs who want to change their country and the whole world, contributing with fresh ideas on the business world, but, although they have everything they need to succeed, some of them do not know how to deal with failure and end up quitting. In this article, we will give you the main causes of failure in Mexican entrepreneurs and how to deal with them.
“Failure is unavoidable when you are looking to reach goals and become successful, you need to accept it and learn the lessons it has to teach you, that will make you stronger and will get you closer to where you intend to go”, said Salomon Juan Marcos Villarreal, president of Grupo Denim.
So why Mexican entrepreneurs stop chasing their dreams? Here are some of the main causes of failure:
- Lack of plans – Successful entrepreneurs know the importance to set plans, write them down, follow them and modify them as much as it is needed, so if you want to start your own business but do not take necessary time to prepare your plans, be careful.
- Start without funds – If you start your business without a backup budget, failure might reach you faster than you encounter success.
- No action – Even if you have the best business model or the most interesting product, you will definitely get nowhere unless you take action.
- Competition – Do not neglect your competition, or they will be more prepared and you will be closer to failure.
- Quitting – Before you decide to enter into the complicated world of business, you must be aware that every successful entrepreneur has encounter failure many times, do not be so eager to quit on the first obstacle you encounter.
Salomon Juan Marcos Villarreal also added: “Mexico is a country with many talented persons with everything they need to become successful on the business world”.