Secrets of money for entrepreneurs

Secrets of money for entrepreneurs

Secrets of money that entrepreneurs must know

Being able to handle healthy finances is one of the biggest challenges that an entrepreneur must face, so we dedicated this article to show them how money work and the secrets they must know to make it work on their favor.

“It is essential for an entrepreneur who has knowledge about his finances and how to make them stay in a healthy way, but for that, he would need mentorship and the company of trustable people that will take care of his money and his family’s heritage”, said Salomon Juan Marcos Villarreal, president of Grupo Denim, about this topic.

For an entrepreneur, having a financial stability is a goal, but if you are making everything for the money, it will shy away from you; however, if you change your mind and look for a way to transform the life of the persons and to change the world, money will come as a consequence of your acts.

One of the mistakes that some new entrepreneurs commonly do is spending more money than they actually have, that means buying the newest laptop, renting the better offices, buying the newest car, remember that it will take time to recover the money you have invested and more to start seeing real profits, so the rewards will come after the hard work, never before.

Money will work better if you first collect money from your business and then pay, this way you will be able to finance your business with the money from your customers and will avoid the mistake on turning into your business’ bank.

“There are plenty of different habits that you can create in order to handle your money carefully, this will make a tremendous difference in order to have a financially healthy company”, added Salomon Juan Marcos Villarreal.

Building your financial independence

Building your financial independence

Building your financial and working independence

You can constantly find people who are totally tired and frustrated with their daily works, and most of them dream of having their own business, becoming their own boss and being financially independent, if that is your case, keep on reading this article as we will show you how to make it possible.

Salomon Juan Marcos Villarreal, president of Grupo Denim and a Mexican entrepreneur share his thoughts about this topic: “Mexico is a country full of entrepreneurs, willing to chase their dreams and succeed; we must support their ambition and their eagerness to make this a better country”.

Having a job is no longer a safety way to generate incomes, and as people realizes about this truth, they are looking for different ways to build their own working and financial independence by becoming entrepreneurs, but this is not an easy path, you will have to face many obstacles that only those persons who are truly decide to succeed will overcome.

Fear is one of the main obstacles to defeat, and the first thing you must need to know is to accept it, instead of seeing it as something wrong. Fear can actually be a positive thing when you learn how to take advantage of it and make it make it your reason to reach your goals, as when you change your mentality you can go wherever you plan to go.

Entrepreneurs should also be very aware that excuses are only good to delay you, if you are truly decided about starting your own business, do not look for excuses to start, even when they must feel real, the truth is that we hide behind them when we are afraid to start something new.

“Many persons dream of being independent, and the truth is that this freedom is there for everyone if you are willing to do what it takes to make it possible, with a clear vision you can achieve everything propose to do”, added Salomon Juan Marcos Villarreal.

Managing your money responsibly

Managing your money responsibly

How to manage your money responsibly?

Has it ever come to your mind that with just a little extra income you could do more? Sometimes it is not enough with a pay rise or an extra income if the problem resides on a bad administration of your money. This article is dedicated to give you some interesting tips that will help you managing your incomes responsibly.

“It is important to administrate your resources at home and within your company, this way you will feel more secure and will protect your family’s wellness”, advised Salomon Juan Marcos Villarreal, president of Grupo Denim.

If you want a better management of your money, put these advices into practice:

  • Make a budget – It should be honest, put on a list all of your expenses without exceptions. This will give you a better idea of how you are managing your incomes.
  • Debts – Make a list of all debts you have and prepare a payment plan, once you have decided to get rid of all of your debts, it is important that you do not buy anything on credit, as this becomes a vicious circle.
  • Savings – By limiting your expenses, you will be able to make savings. Determine a part of your budget to your monthly savings, you can start with a low percentage and once you get rid of your debts you should increase it. It is very important to have a financial backing.
  • Pay in cash – You will realize how less you spend when you pay in cash than when you use a credit card.
  • Expenses – If you are determined to manage your money in a more responsible way, you will have to start by getting rid of those unnecessary expenses that exceed your incomes.

“There are many practices that can help you managing your incomes in a more responsible way, it is just a matter of determination and a consciousness”, added Salomon Juan Marcos Villarreal.

Millennial: Say good bye to retirement pay

millennial retirement

Millennial: Say good bye to retirement pay

The generation between 18 and 35 years old are identified as millennial, which is redefining the employee world and will be the worldwide mayor force by 2020.

However, only a few think about their retirement. According to the numbers from 2014, 65% of young people between 15 and 29 years old are not thinking on a saving account for their retirement because they do not even see retirement as an option.

Information from Manpower showed that more of the half of the millennial in the world believes that they will work beyond their 65’s.

None of the millennial from Mexico will get a retirement pay because all the persons that were registered on the IMSS (social security program) after 1997, will get their retirement pay according to what they saved on an afore account.

Afore is an administration of funds for retirement, which handles and invests the resource that get discounted to the employees each month. The percentage is complemented with contributions from the employer and government which is 6.5% of the salary of the employee. The bad news is that this percentage is very short when making calculations for the future because with this saving, the estimation is that the employee will be retired with the 30% of the last salary.

Salomon Juan Marcos Villarreal thinks that it is very important for the young people to know and recognize the importance of saving money for their future not only to think about retirement but in general. Making voluntary contributions is a great option and the sooner the better.

“I always tell the young people that work at Grupo Denim to think about the life style that they would like to live when getting to the retirement age and to take into account the facts of the actual economy”, said Salomon Juan Marcos Villarreal, president of this company.

Financial advices

financialFinancial advices to practice at home

Taking care of your family and having healthy finances are not easy tasks at all, you need to cover all needs such as their nutrition, clothing, school, paying doctors, bills and many other things that might even make you feel anxious. Today we will give you some financial advices so you and your bank account can stay calmed.

“It is important that we save money that we can have as a backup for any emergencies, and teach our children to do it, this will show them how responsible they can be and how hard it is to do it, teaching them to save is a great idea so they start being conscious about finances since they are children”, said Salomon Juan Marcos Villarreal.

Here are some important advices that will help you administrate better your money at home:

  • Keep track of your bills – A detailed register of incomes and expenses will help you administrate better your resources, it will also tell you what you can pay and will limit you to come down with new debts. The habit of saving needs constancy, and for this it is important you destine a part of your fixed incomes on this.
  • Get organized – Assign functions and responsibilities to each member of your family, it is necessary that all of you cooperate not only to do home duties but to take care of your money.
  • Prioritize – Register all those things that your family would like to have, investigate and calculate how much you would need to reach each goal. After this, start saving until all of you make it to that goal.
  • Keep a close communication – If you are going to take decisions that will affect your family, you will need to tell each member, even when the changes are being done in order to improve the family’s finances, all of its members should agree with them.

“It is important to have healthy finances at home, to save money for incidentals or a dismissal, to have a closed relationship with your family, this will help you feel happy at home and rest at night”, added Salomon Juan Marcos Villarreal, president of Grupo Denim.

Economic relationship between Mexico and USA

Economic relationship between Mexico and USA

Economic relationship between Mexico and the United States in 2016

The economic relationship between Mexico and the United States is one of the most important in the world nowadays, with trades for billions of dollars between both countries, helping to create and open more companies and job sources that benefit their citizens.

“There is a very close relationship between Mexico and the United States, we have learned to work together to grow up on both sides’ benefit, our main customers are settled in the United States and we hope to continue making new business relationships with the neighboring country”, said Salomon Juan Marcos Villarreal, president of Grupo Denim about this topic.

It is important for both, Mexico and the United States to keep on strengthening their relation, in and economical and commercial way, with areas that are a priority for both countries such as development of modern borders, regulatory cooperation of both parties and a linking with the academic, social and private sectors.

Mexico and the United States’ governments have also kept a close relation to promote the competitiveness, to start new business on both countries, getting more investments and to work in a transparent environment, working together to fight against corruption, which is a serious problem that affects both economies.

Both countries are nowadays making bigger efforts to turn North America into the most competitive economic area in the whole world, and their closeness is also a great advantage for the business relationships.

“We enjoy working with our partners at the United States, they know once they invest in Mexico’s manufacture, they are going to receive back products made of the best quality at competitive prices and on the dates needed, which is why our customers keep on trusting their products in Grupo Denim’s hands”, added Salomon Juan Marcos Villarreal.

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US Economy

US Economy

US Economy, not a dream enymore?

People used to think that living “the American dream” would last forever, but that “dream” is not a reality and there are no jobs around the corner anymore.

Right now everybody is on the look and talking about a new recession. Americans might be enjoying low gas rates and even earning more money but they are not expending too much, not even during the past holiday season. Consumers represent 70% of the economy so if they are not opening up the wallets they might not be able to save the US of having an economic recession.

In fact, people is saving money which is not bad, but does not help at this time the US economy, it needs people to spend money so it can grow.

Global economy is also decreasing, impacting the manufacturing sector which represents 10% of the US economy.

US market is also dragged due to the lack of buyer’s demand from abroad and a strong US dollar that is making the products being more expensive at another countries; however, the markets showed and increased in January.

“US markets might have decided that US is going thru a recession, but obviously no one told the American consumers”, said Paul Ashworth, chief north American economist.

Grupo Denim, a successful manufacturing company from México, has seen a decreased on their sales starting 2016. “ We are confident that if a US recession happens, we will continue running our business, sales might be slow sometime but our company has always managed in an excellent way past recessions. Right now, we are being hit by a strong US dollar and a weak economy, Walmart is closing stores, and some others will follow the same path, right now consumers prefer to buy everything on line”, said Salomon Juan Marcos Villarreal, president of Grupo Denim.

Strong US dollar vs the textile business

Strong US dollar vs the textile business

Strong US dollar vs the textile business is not hitting the industry, but a decline is in the bag

The Mexican textile market is not yet affected by the US dollar exchange rate to Mexican peso, since the industry is working to increase the sales, by coordinating a plan to avoid increasing the prices, that could affect the final consumers; however, a clothing sales decrease has been anticipated for the 1st quarter of the year.

As of today, no price increase for clothes has been announced but experts said it will be known shortly. The price adjustment will depend on the manufacturing areas or different type of garments, as some of the textile vendors may have fabric and raw materials that could help to absorb the impact.

On 2015, consumers saw a good economy based on the sales reported by the department stores, where clothing and shoes were on the 2nd place. At that time, the forecast was to have a strong economy for 2016, but now there might be a financial pushback for the year.

For Salomón Juan Marcos Villarreal, president of the apparel company named Grupo Denim, the strong dollar effects on the local business might be a challenge and if the right steps are not followed, the business could face financial risks and a drag on revenues.

“It is important to prevent and avoid negative effects with the rise of the US dollar; for us, one of the solutions is to make payments in Mexican pesos, we also have vendors overseas that keep a buffer in case of any currency fluctuations; nevertheless, the most important is to have in mind that our success is based on the products and services we offer to our clients and not on the prediction of the exchange rate of the US dollar”, said Salomón Juan Marcos Villarreal.