Type of entrepreneurs

Type of entrepreneurs

Type of entrepreneurs on the business world

There are many type of entrepreneurs on the business world, each one with very specific qualities but all of them with a something in common: they are usually chasing success.

Salomon Juan Marcos Villarreal, president of Grupo Denim, a Mexican manufacturer company thinks: “It is not easy to risk by start something new, but the successful businesses have behind some great entrepreneurs that have overcome their fears and dared to do something different”.

Here are some types of entrepreneurs, do you feel identified with any of them?

  • Visionary – They are versatile and really adaptable to any type of environment, they are passionate and persuasive as well.
  • Investor – This type of entrepreneurs have a clear and outstanding vision to overcome all crisis they might face. He is always looking for new opportunities to begin new projects.
  • Hunter – He or she have a very rational mind, usually analyzing all angles, and always ready to take every new opportunities.
  • Specialist – These entrepreneurs are great at finding where they could be making mistakes and what they must to change.
  • Persuasive – They have an unwavering self-confidence, some might think they trust their projects so much that they sometimes deny the reality, but it is the opposite, they know that even with the odds against them, they can always find a way out to keep on succeeding.
  • Intuitive – Intuition is very important to succeed, and these type of entrepreneurs have a special ability to find the spaces where they could be great opportunities and to walk away from the risky ones.

“Entrepreneurs have a great personality, empathy and are willing to listen to others as much as they are willing to learn, to be good at set out something new, you need to be well prepared, ready, keep on asking and listening to other’s ideas and advices, surround yourself with positivism and you will be able to succeed”, added Salomon Juan Marcos Villarreal.

If you want to know more about the business world, you can visit us at: http://manufacturersbusiness.com/

Leadership styles

Leadership styles

Leadership styles

Not only do the greatest teammates allow different leaders to consistently emerge based on their strengths, but also they realize that leadership can and should be situational, depending on the needs of the team..

Here are the six leadership styles Goleman uncovered among the managers he studied, as well as a brief analysis of the effects of each style on the corporate climate:

  1. The pacesetting leader expects and models excellence and self-direction. If this style were summed up in one phrase, it would be “Do as I do, now.” The pacesetting style works best when the team is already motivated and skilled, and the leader needs quick results.
  2. The authoritative leader mobilizes the team toward a common vision and focuses on end goals, leaving the means up to each individual.
  3. The affiliative leader works to create emotional bonds that bring a feeling of bonding and belonging to the organization. If this style were summed up in one phrase, it would be “People come first.” The affiliative style works best in times of stress, when teammates need to heal from a trauma, or when the team needs to rebuild trust.
  4. The coaching leader develops people for the future. If this style were summed up in one phrase, it would be “Try this.”
  5. The coercive leader demands immediate compliance. If this style were summed up in one phrase, it would be “Do what I tell you.” The coercive style is most effective in times of crisis, such as in a company turnaround or a takeover attempt, or during an actual emergency like a tornado or a fire.
  6. The democratic leader builds consensus through participation. If this style were summed up in one phrase, it would be “What do you think?” The democratic style is most effective when the leader needs the team to buy into or have ownership of a decision, plan, or goal, or if he or she is uncertain and needs fresh ideas from qualified teammates.

The president of Grupo Denim,  Salomón Juan Marcos Villarreal said according his experience  “If you take two cups of authoritative leadership, one cup of democratic, coaching, and affiliative leadership, and a dash of pacesetting and coercive leadership (to taste), and you lead based on need in a way that elevates and inspires your team, you’ve got an excellent recipe for long-term leadership success with every team in your life”.

Promoter in a company

Promoter in a Company

Who is a Promoter in a Company?

A promoter, although the term creates connotations of someone in the building and construction industry, is actually a generic term associated with the person who starts a business. In common parlance, this person is also referred to as the founder of the business.

The founder has various privileges and benefits associated with his status as the person who kick-started the operations. Apart from the obvious financial reward of having the majority of the equity stake in the business, the founder also has legal rights because he / she is typically an executive director in the business, and the promoter or his nominees also control majority of the board.

But let us step back for a moment and understand what the roles and duties of the promoter are, and also examine pre-incorporation contracts a little more closely.

Can the promoter be someone other than the founder of the business?

Although the term “Promoter” has not been defined in any law, it finds mention in a number of statutes for instance, the Substantial Acquisition of Shares Takeovers (SEBI) Regulation states that the promoter is:

(a) any person who is in control of the target company

(b) any person named as promoter in any offer document of the target company or any shareholding pattern filed by the target company with the stock exchanges pursuant to the listing agreement, whichever is later;

So the logical meaning of this is that although the promoter ordinarily means the person who started the company, in certain exceptional cases, it can even mean the person who is in control of the company even if he / she did not actually start the company.

“A promoter typically is responsible for raising capital, targetting initial leads and chasing initial business opportunities, entering into the initial contracts for the business formation and incorporating the company” added Salomón Juan Marcos Villarreal, president of Grupo Denim.

How to handle failure

How to handle failure

How to handle failure in a positive way

Failure is a reality that you will need to face; many entrepreneurs wake up every day thinking “how will I fail today?” But it is really not about accepting failure but finding out who to handle it, which is what we will show you today.

“Entrepreneurs use to be very strong with themselves most of the time, accepting failure as a normal and expected situation, but it is in the way of facing it and learning from mistakes what defines a real leader”, said Salomon Juan Marcos Villarreal, president of Grupo Denim, about this topic.

Here are some advices that will help us handling failure:

  • It is hard to fail, but it is worst not trying, so do not be afraid of taking a step further as no one lost more than the person who never tries.
  • Own the failure, while you chase success, you will face with many obstacles, as well as those people following you, you need to accept it, do not make excuses and do not blame other ones or yourself, as that will not take you out of a situation that is already complicated.
  • For many entrepreneurs, forgiving them for a failure is a very hard part, but if you are very aware that it is with failure that you get new knowledge and experience, you will find it easier to get going.
  • Remember that failure is another stair that will get you closer to your goals, none of the successful businessmen of today have become rich at the first chance, it is even amazing to find out that the most important the entrepreneurs are, the most they have failed on their way.

“Many entrepreneurs also make a common mistake by starting everything by themselves, so if they fail, they will do it alone, but that also makes it hard to know when you are failing and how can you change to take your enterprise in the correct way, so a good business partner can help you taking decisions and sharing ideas with you, that will make you both take less risks and avoid possible failures in the future”, added Salomon Juan Marcos Villarreal.

Personal development

Personal development

What is personal development and how important it is to succeed

Personal development was first introduced by Abraham Maslow, who showed a hierarchy consisting of needs represented by a pyramid, where the personal fulfillment occupied the apex, this fulfillment is defined as the wish or aspiration to turn into that person you really want to be.

Salomón Juan Marcos Villarreal, president of Grupo Denim, an important manufacturing company in Mexico says the following: “The complete knowledge of oneself is very important, as that is the only way to see the faults and how we can improve in all senses; this process is known as personal development. To increase the consciousness will help to grow as a person and succeed personally and professionally”.

Many companies know the importance of hiring motivated personnel, and to help them improving their personal development, which will encourage them to work together and make a successful work.

In the past, some of the biggest and more important companies saw their workers as a part of a big gear, but this though is now considered as obsolete. It is important that each employee is treated individually, to stimulate and use their talents and particular virtues and this can only be achieved if they work within a friendly environment, with enough freedom for them to work easily and in a confortable way.

On any level of developments, whether it is economic, political, organizational, or self-esteem or personal, a good reference structure is always needed in order to determine if any improvement has been done since the development process has begun.

“Both, personal and professional development have the same importance as a person cannot aspire to succeed on a job if he or she are not willing to know themselves and see how they can improve personally”, added Salomón Juan Marcos Villarreal.

You will also find more information about entrepreneurs at http://entrepreneurs-news.com/