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Guidelines of Finding the Best Startup in Latin America
First, you should befriend the various marketing agencies. In the Latin America, most entrepreneurs hire a marketing agency to do their marketing and sales, with a price. Hiring marketing agencies to sell and sell your products may be too expensive to you due to the low profits coming from a startup. You can, therefore, market your brand using online platforms. For example, Google was launched in Latin America, and it threw a lot of advertising agencies below the bus. This is due to the fact that, you can tailor adverts for a specific audience, and it aids in direct communication with clients. Such media can be employed instead, and will require a lesser amount of capital.
You should study the mechanisms that your competitors are employing in their marketing and service delivery. Usually, agencies will require payment from you for selling your products. If you discover that there are similar products as yours present in the market, then you need to change your strategy, and treat the agents well, and beat your competitors in the game. This can be through offering them better commissions in addition to their performance. According to research conducted on the internet and mobile phone usage, Latin America emerged among the top. This is a good indicator that you can use these platforms to grow your startup business. That research also pointed out that many Latin Americans trust their family networks, and can only do business with them more, than they can trade with non-family networks. As you will be shifting your marketing and branding to the digital world, it is crucial for you not to forget the offline mechanisms. These strategies, include speaking well to customers, sparking small-talks with them, or even compliment local foods or beverages.
Lastly, it is good for you to understand each countries’ tax rates and deductible tax strategies that apply to imported goods. This will help you in making proper adjustments for the customers to acquire your products cheaply. You should avoid seeing Latin America as an entity with homogeneous traits. Even though they speak same languages, there are a lot of differences among them. You should, therefore, hire local staff who understand the local environment well. Since the region has diverse and varied cultures, adding the landscape challenges, making the region very difficult for startups to function properly. You, however, require a clear mindset, strategy, and enthusiasm to start and run a startup successfully. There are quite a number of people who successfully put up the best startup in the Latin American market, like Craig Dempsey.