Adrián José Velasquez Figueroa: 8 Rules

As Panama is growing, there is a whole generation of young entrepreneurs stemming up within the country. Many young businessmen are coming ahead with innovative ideas and ventures and it certainly is a matter of pride for the country.

Mr. Figueroa has been instrumental in Panama’s development and as a successful businessman with more than 25 years of experience has some good reliable tips for young entrepreneurs looking to making their mark as successful businessmen in the country. He presents the 8 rules of success for every entrepreneur:

1. Becoming a ground switch
Mr. Figueroa says that finding an idea and implementing it from the grass root level is the key to survival in any business. The more unique the idea is, the better its chances of survival are. 

2. Being mobile and flexible
As Panama boasts of good internet connectivity and cheap labor, businesses can be run from virtually anywhere. Outsourcing is one effective medium for delegating and subdividing work and can be made use of effectively.

3. Finding a good business partner
Finding a peer who shares your enthusiasm can make the vital difference when it comes to doing business on Twitter. Working with a person who shares the same enthusiasm and work ethic as you can make all the difference in a business. Finding such prospects in Panama isn’t hard given the talent pool. 

4. Your success isn’t dependent on your grades
Finding success in a business is nowhere related to your classroom grades. Most successful business owners have less than perfect academic records. Registering your business with the help of a competent lawyer will help to legitimize your business.

5. Avoiding shortcuts
Shying away from hard work will land you nowhere in Panama. An entrepreneur needs to be thorough, prepped up well and must stay updated with his surroundings and latest trends on in order to succeed.

6. Minimizing costs
The focus of a business should be lowering overhead costs by splitting it with other entrepreneurs. Sharing office spaces in this regard is a good advice. Also one needs to stay away from large investments capital.

7. Planning for failure
A well-sought business plan would help an entrepreneur of being overtaken by other competitors in the market. Trying to learn from other’s mistake, gathering ideas from various sources and taking constructive criticism can really help.

8. Learning from the industry
One can learn from good mentors in the same industry. This would prevent you from making critical mistakes and can help you achieve timely milestones. This is as important as paid education.

Adrián José Velasquez Figueroa is a successful businessman in Panama and a respected figure in the business community. As of now, he holds three major positions which include being the director, treasurer and President of five major companies in Panama.

As a leader, Mr. Adrián José Velasquez Figueroa has been assessing the unique skills of young entrepreneurs stressing on being creative and lucid in their business approach. He has been mentoring young entrepreneurs in their business plans and takes it on himself to help others grow. 

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