How to Unlock Your Full Potential in the World of Business
Business: Are you determined to become an industry-leading figure in the world of business? Do you want to rub shoulders with Latin American entrepreneurs such as Sofia Vergara, Alberto ‘Beto’ Perez, Jessica Alba, Carlos Slim, and Iris Fontbona? If you want to scale these lofty heights in your career as a businessperson, it’s absolutely essential that you put the advice laid out below into practice. By heeding the following guidance, you will be far more likely to optimize every stage of your entrepreneurial endeavor.
Here are seven things you must do to unlock your full potential in the world of business:
Study your craft and earn qualifications
Getting into business school and enrolling in an online MBA program should be the first challenge that you set yourself in your career. The education, experience, and guidance that you receive from taking this course of action will set you up for an unbridled amount of success in your future endeavors. What’s more, the online MBA qualifications that you earn will be sure to open up a number of doors for you during the first stages of your career, which in turn will provide you with a strong platform from which to grow going forward.
Here are just a few of the benefits that you stand to reap from enlisting yourself on an online MBA:
1. Flexibility (the ability to learn at a pace that suits you, which means you will have the capacity to focus your attention on other business-related, extracurricular activities)
2. 100% online learning (you won’t have to waste your time traveling to and from your lectures)
3. 36 credit hours
4. The ability to complete the online MBA program in as little as one year (this includes earning yourself a leadership certification alongside your degree)
5. The capacity to align yourself with an experienced industry mentor throughout your time in education.
Gain real-world experience
After graduating from your online MBA course, you should then seek to gain as much real-world business experience as you possibly can. The skills that you hone during this early stage in your career will either help or hinder you in your bid to unlock your full potential, which is why it is essential that you align yourself with an industry expert. With the right guidance and support at hand, you will be sure to gain the experience you need to truly optimize your day-to-day entrepreneurial performance.
There are a number of things that you should do to make the most out of your time in work experience, one of which being to build your professional network. Getting to know a lot of people in your niche field will be sure to open up a number of opportunities for you going forward, which is why you should attend as many industry events and trade shows as you possibly can (it’s never too early to perform this crucial task, which is why you should be doing this during your online MBA course as well).
Something else that you should do during your work experience is stepping out of your comfort zone. You’re never going to learn anything about who you are as a businessperson if you constantly play it safe, which is why you simply must grasp new opportunities whenever they are presented to you.
Cultivate a number of characteristics
Your education, expertise, and experience will only get you so far in the world of business. If you truly wish to unlock your full potential as an entrepreneur, you need to go above and beyond to cultivate a number of crucial characteristics. The way in which you act and react to certain situations on a day-to-day basis will make or break your chances of success in the long run, which is why you must make an effort to work on your personal attributes.
Of course, you’re never going to become the ‘perfect’ businessperson, as such a title doesn’t realistically exist. If you cultivate the following characteristics, however, you’ll be better placed to optimize your entrepreneurial workflow on a daily basis:
1. Become an active listener — not only will this help you to learn more about the people that you do business with, but it’ll also showcase the fact that you care about their experiences, their opinions, and their input.
2. Build on your online MBA education by becoming a lifetime learner — this will help you to pick up new skills and attributes as your career progresses, which in turn will help you to keep your finger on the pulse of the latest business developments.
3. Always be willing to change — marrying your ideas is never a good idea in the world of business, simply because of how quickly this field moves forward.
4. Be good with your money — you’re not going to get very far with your entrepreneurial endeavor if you are incapable of protecting the profit that you work so hard to turnover, which is why you must become skilled at handling your finances.
5. Showcase your resilience, especially during tough times — you will be sure to encounter a plethora of hurdles and challenges during your business career, and you’re going to need to overcome them if you’re to stand a chance at unlocking your full potential.
Don’t be afraid to take the first step
Once you’ve honed your craft, gained experience, and cultivated a number of crucial characteristics, it’s time for you to take that all-important first step into the world of business. Having a head full of money-spinning ideas is all good and well, but they won’t actually account for anything unless you bring them to life in a physical sense. Quite simply, if you’re serious about becoming one of Latin America’s leading entrepreneurs, you need to be brave and take action. Only then will you truly stand a chance at being able to overcome that first hurdle in your business career.
Should you struggle to pinpoint an opening for yourself in the world of business, fear not, as there are a number of action steps that you can take in order to perform this crucial task in an effective fashion. Here are five things you can do to take the first step in your business career:
1. Bring your creativity to life by writing your ideas down
2. Separate your ideas into two sections — those that can be implemented today without disrupting your daily workflow and those that are going to demand effort and determination over a sustained period of time
3. Combine your ideas into groups based on both current and future prospective knowledge
4. Start conducting experiments with the ideas that you currently have the capacity to implement
5. Measure your progress with these experiments and validate the outcome of them
6. Take a look back at your online MBA notes, lessons, and lectures in order to ensure that you are able to provide expert insider knowledge into your field — the better equipped you are with knowledge, the more likely you will be to attract attention during the initial stages of your career
Always have a plan
The world of business moves forward at a frantic pace. Nothing lasts long in this cut-throat industry, which is why it is imperative that you find a way to keep your finger on the pulse of the latest trends at all times.
If you want to perform this all-important task in a highly efficient and effective fashion, it’s crucial that you always have a plan. The more strategic you are with regard to the actions that you take, the more likely you will be to leave no stones unturned in your attempt to unlock your full potential.
Planning out your career in business is one of the most important challenges that you face, especially in today’s COVID climate. To optimize this particular task, you must:
1. Perform a self-assessment in order to identify what stage you are currently at in your development (you should be taught how to perform personal appraisals during your online MBA lectures).
2. Develop a refined list of professional options and prioritize those that fit your overarching business operations.
3. Consider the state of play in your field — is consumer demand currently in a healthy state?
4. Set yourself a number of S.M.A.R.T goals (Specific, Measurable, Achievable, Realistic, and Timely).
5. Create an action plan that suits you and your work ethic — don’t attempt to copy your competitors.
6. Meet with a professional career advisor (you should perform this crucial task at regular intervals throughout the initial stages of your career, even when you’re completing your online MBA).
Get to grips with Latin American business culture
If you’re to carve out an authoritative, entrepreneurial reputation for yourself in Peru, it’s crucial that you get to grips with Latin American business culture. This will make you more aware of the specific challenges that you will be likely to face throughout your career, which in turn will help you overcome the hurdles that are laid out in front of you. Ultimately, this will increase your chances of being able to provide an optimized level of business service on a day-to-day basis.
Here are some of the unwritten rules of doing business in Latin America that you must heed:
1. Be prepared to open up to others on a personal level, as that will help you to establish a sense of ‘simpatico’ amongst your peers
2. Embrace fluidity with regard to your schedule, and take off your watch during important business meetings
3. Expect late business meetings/dinners to start around 10PM
4. When greeting associates, expect to be embraced with the term ‘abrazo’ if you are a male and a number of cheek-to-cheek kisses if you are a female (expect four kisses in Chile, three kisses in Brazil, and two in Mexico)
5. Always dress to impress — there is no such thing as ‘business casual’ in Latin America
6. Show everybody respect and embrace the differences that you share with your Latin American counterparts
Starting a company in Peru
Once you’ve put all of the advice laid out above into practice, it’s time for you to start your own company. Fortunately, Peru has risen in economic prominence in the last five years, which makes this the perfect country from which to base your burgeoning business venture. An abundance of mining resources, ongoing social development, improved quality of life, opportunities in both the import and export markets, Free Trade Agreements (FTAs), minimal capital requirements, low bank account opening deposits, quick formation processes — these are just a few of the major benefits that you will stand to reap should you decide to embark on your entrepreneurial endeavor in Peru.
To start your business in this beautiful, forward-thinking country, you’re going to need to sign the deed of incorporation and file it online with the Peruvian Public Registry of Commerce. Once you’ve performed this integral task, you will then need to obtain a Municipal license from your District Council — this will generally take around 15 days, but this process could last longer if you are a resident of another country (South American or otherwise).
Your next challenge is to start hiring employees. At this delicate stage in your business’ development, it’s crucial that you get to grips with local payroll rules. This will help you remain compliant with Peruvian governance, which in turn will allow you to carry on trading in the country for years to come. A particularly important rule that you must be aware of in this instance is Peru’s Compensation for Length of Service. This legal benefit, which is designed to provide workers with retirement compensation based on their years of service, plays an integral role in Peruvian business culture (in both a lawful and societal sense), which must go above and beyond to comply with it. To ensure that this is the case, it’s advisable that you surround yourself with a crack team of Peruvian financial experts.
Do you want to rub shoulders with the greatest entrepreneurs based in South America? If so, you need to go above and beyond to unlock your full potential in the world of business. If you put the advice laid out above into practice, you’ll be sure to do just that.