Entrepreneurship in times of change
After visiting Bangladesh, a 20-year-old Spanish student has set out to challenge major global brands with his app named Ethical Time. Renowned companies produce clothes in the Asian country, at low cost and in controversial working conditions, but Ignasi Eiriz is not intimidated. His objective is clear: create fashion that respects workers and the environment.
The actual world is dynamic and challenging on its nature, especially if we face what has already been established. And, as the only sure thing is the change, we are obliged to the maximum capacity of adaptation, especially if we decide to enterpreneur a new project. But, what happens when, in addition to enterpreunership, we have to do it in a context different from the familiar one? This puts in tests our ability to review and update the purposes, adapt them to the context and combine them with the change of culture that is generated, for example, when emigrating.
Even though there are no specific data for the Latino community, the general statistics on entrepreneurship are alarming. According to a Forbes study, 8 out of 10 new businesses do not exceed 18 months of existence; this means that its failure rate is 80%. However, the data is refuted by analysts of the Bureau of Labor Statistics of the United States. “They say that 20% of small businesses do not survive the barrier of the first year, and 50% do not survive the five years, better than what Forbes says, right? Of course! But those are still very serious numbers”, analyzes the expert Luis Ramírez, from SCUDO Consulting.
Although change is inevitable, the process does not have to be traumatic. As an entrepreneur that I am (five years ago I founded the company Cala Enterprises with my friend Bruno Torres), believe me, I have lived a roller coaster of emotions with a positive balance, because we have been able to surround ourselves with the best, but also we were studying, trying and rehearsing with controlled risks. Today we are a stable company, whose purpose we live day by day, helping other organizations to be better places of work for their collaborators.
In as much as we are able to plan and train ourselves to structure a clear and assertive value proposition, as well as to propose a profitable business model with clear purposes, we will have greater possibilities of escaping the aforementioned statistics.
Prepare yourself and be flexible to adapt to a changing environment and you will successfully travel the path of entrepreneurship! This is what Ignasi Eiriz tries to do in order to make a living and trigger things to change.