Posts Tagged "project report online"

9 min read

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

Opinions expressed by Entrepreneur contributors are their own.

  • Your business storytelling will improve if you master metaphors and use them to your advantage.
  • Sketches, analogies and allegories bring various benefits to your presentations.
  • Learn when it is most useful to use them and some tips to generate them.

Although there are different languages in the world, the phenomenon of metaphors is universal. Everywhere and everywhere, from the epic of Gilgamesh to the holy books or social media, humanity has conveyed complex ideas through simple meanings. Mastering this storytelling resource can help you make a difference in business.

What is a metaphor

First of all, we are talking about language tools. And, specifically, of rhetorical figures. Metaphors are ways of creating comparisons and similarities between things of a different nature. For example: we can assimilate the behavior of a person with that of an artifact when we say that someone “turns more than a fan.” Obviously, nobody is a fan, but when the person has been walking from one place to another for a long time, that mental image is worth a thousand words to us.

Metaphors help the recipients of our communication to be on the same mental plane and to understand the message more clearly. Metaphorically speaking, it could be said that they help “to put us all on the same page in the book.”

Business metaphors and storytelling

In an unconscious, though not innocent way, business language has been filled with metaphors, portraits, analogies and allegories in the last hundred years. This has happened because it is a way of making communication more efficient: by saving words, we also save time and resources.

How many times have you heard of the elevator pitch ? In itself, the concept is already an analogy. And it is understood much faster than the statement of its definition: “everything you can tell your boss about your project in the time that the elevator travels.”

You have also heard of ” data mining .” Another analogy. Everyone knows that data is obtained from observation and calculation, but never from mining in the strict sense. Again, a mental picture is worth a thousand words.

Types of metaphors

According to the American specialist Doug Rose , we can talk about three types of metaphorical figures common in the business world:

The semblance , which is defined as a “comparison between two objects or actions” posed with a phrase like: “more ( _____ ) that ( ______ ) ”or“ as ( ______ ) as ( ______ ) ”. Remember the previous example: “a person who turns more than a fan.” This is a quick think and speak tool. Help break the ice or reconnect with your audience. Sometimes you can use it as a joke (or even as a vicious criticism). The analogy , which is defined as “a prolonged comparison between two different objects or actions that are similar in more than one sense.” The goal of the analogy is to show two elements compared (one simple and the other complex) that have many things in common. And by explaining the simple, you discover the complex. An example: sometimes high-performance professional teams are compared to soccer teams in more ways than one. First: all its members play a role. Second: the goal of both teams is to win the competition. Third: all members must play in coordination. Fourth: there are always one or two “cracks” in each team … And we could continue indefinitely. But if you want to educate a high-performance professional team, it may be worth telling them about things that happen on a soccer team. Everyone will understand and better assume their role in the company.

The allegory , which is defined as “a fictitious story, a poem or a portrait that brings us a message or life lesson.” In this area I place the parables of Jesus of Nazareth in the New Testament, or the fables of the Greek Aesop , or the reflections of Paulo Coelho, among many others. In this resource lyric and poetry are often used. Truly, there are very beautiful allegories. The famous book “Who has taken my cheese? ”Could be an example. When to use a metaphor

Whether in internal or external communication, interpersonal or collective, there are many occasions in professional life where metaphors can give you an advantage. I share two very valuable moments for me: the reframing of complex problems and the communication of feelings and emotions.

Reframing : Imagine that you are launching a new product on the market. You have discovered a need that no one else has seen and you see yourself able to satisfy it. But there is a problem: that need is not immediate and will not be visible for a couple of years, so there is no way to demonstrate it with data now. And that has its consequences: you are not getting your investors to support you because they do not see the need as you see it.

If you are faced with a complex problem that you cannot argue with data and that is also difficult to communicate, you can develop a refocusing. As Nadia Goodman explained on, the reframing (or refocusing) technique consists of creating a new perspective on a problem from which you can observe, analyze and explain it more comfortably. With reframing you can, for example, find an analogy with which everyone understands you.

Do you want an example? When Steve Jobs launched the first Apple iPod in 2001 , he could have explained his idea with slang and complex words. He could have said: “we have connected a lot of chips and cables so that people have a cool device” or “we think there will be so many people who will buy the product if we sell it to them for so many dollars a piece.”

But he avoided all that. Instead, he preferred a metaphor to fix the attention of his audience: “What if we get everyone to put the entire disco at home (CDs, records, cassettes … ) in their pocket?” Today the concept seems obvious to us, but 20 years ago it was something revolutionary: pure analogy.

Communicating feelings : more and more organizations want to be excellent in their processes. They strive to put people at the center of their operations, taking into account the expectations of all stakeholders . But to do this, they must begin by understanding well how all these people feel and thus resonate with those feelings. And that is difficult.

Personally, I think that one of the most complex things to talk about in life is feelings. If I say “anger”, “sadness” or “joy”, surely you know what I mean. You know it, yes, but you don’t feel it. Instead, I can increase the impact of what I want to tell you by using metaphors.

An example: I once had a boss who was always grumpy. I could describe it to you in two ways, one long and the other short:

  • Extensive: “My boss was a person who felt a lot of anger inside, but who took great care of his external forms. So your first impression with him was always favorable. But once you treated him daily, you saw that he was a bitter person. “ (42 words)
  • Short: “ My boss was like a volcano covered in snow. ”(9 words)
  • The second way is much shorter and is sure to create a more lasting image in your head. Therefore, it is more efficient: you accomplish much more with much less. Companies that want to be excellent could benefit by promoting a culture of metaphors that help them better convey and understand the emotions of their internal or external audiences.

Four tips to master your metaphors

If you want to enhance your business storytelling with metaphors, I recommend that you follow these four tips:

First : read and listen. A lot of. Read from others. Especially from novelists and authors who use those rhetorics that make you feel connected to their message. And listen to people who speak well and who make you feel better.

Second : observe the things that happen to you and the situations that surround you. If something reminds you of something different, think why. You could be facing an interesting metaphor.

Third : take notes of your readings, listens and observations. Many. Do not forget to carry a notebook with you at all times. There you will collect those ideas that resonated so well in your head. When in doubt whether to keep listening or score, score! Everything that you do not write down the moment it resonates with you will be a forgetfulness.

Fourth : practice. A lot of. As the months go by, your notebook will be full of metaphors. Analyze them, group them, meditate on them and, finally, apply them in your formal, informal, verbal and written communication. If they are successful, save them. If not, look for others. You will learn a new descriptive power. And your business storytelling will improve substantially.

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The deal sourcing process differs from fund to fund since the process functions as a funnel that filters all the companies and only lets in a small percentage of prospective companies that pose as potential investments

5 min read

Opinions expressed by Entrepreneur contributors are their own.

For every venture capital (VC) fund, formulating and maintaining a robust deal flow pipeline is indispensable. Deal sourcing is one of the most differentiating activities that a VC undertakes and perhaps this is why a lot of time and effort is spent on crafting a pipeline that suits the fund’s thesis. Nobody wants to miss out on the next Unicorn, and this is where an efficient pipeline helps: to find the hidden gems in the market. 

And while the entire ecosystem was pivoting and restructuring themselves to function during the COVID-19 times, we found ourselves too at this end (the VC side) looking for ways to not let the pandemic impact the deal-sourcing process negatively. 

The deal sourcing process differs from fund to fund since the process functions as a funnel that filters all the companies and only lets in a small percentage of prospective companies that pose as potential investments. There are many layers to this funnel, answering some important questions such as: What stage would we like to invest in? What sectors are we interested in? What are the kind of traits we’re looking for in our founders? Where should they be based out of? What kind of solutions should they be building? Answering such questions, helps sets a funnel in place that helps in formulating an entire deal-sourcing process. There are two things to focus on while designing the process: efficacy of the funnel and the relevance of the deals that pump in.

The deal flow plays a pivotal role in the success of any VC fund. So, if the ‘funnel’ is refined enough, fewer invaluable resources are wasted at the deal origination process, which could ideally threaten the viability of the fund as a whole. Which is why it is always important to circle back to those two factors: How efficient is the funnel? And is it pumping in the kind of quality (of deals) that the fund demand?

Traditionally, deal origination happened via personal networks, referrals, events, and direct outbound research manually or with the help of technology. Just before COVID, we were seeing various tech advancements that helped improve deal origination with its subsequent upgrades which helped in digitizing the entire deal process flows for all kinds of funds. 

But since the strike of the pandemic, we started seeing a shift in the process and now it has become more focused. The spotlight is back on the network and a strong referral. Now, founders have to be there at the right place at the right time when a VC is actively looking for lucrative opportunities. Founders (reaching out to us via referrals) showcase their ability to be resourceful. In trying times like these, especially when anything can change in a rapid second, being resourceful (as a founder) is a great positive indicator for any investor.

The events and conferences that used to happen previously, which proved to be a great way to spot such ‘hidden gems’, were all shifted to being online. At the onset, everyone was hesitant about this transition because of varying factors like quality. Physically, it becomes easier to find these gems (read: eccentric and dynamic founders) and find ways to explore different synergies. But with virtual events and meetings, it becomes harder to tap into what is genuine and what is inauthentic. So, for the funds and the founders alike, this transition was filled with experiments to test and gauge the other side. Currently, this space (demo days, pitch days, other such networking events) is crowded and good founders will have to find other avenues to reach out to potential investors. An advice to such founders would be to not wait for different investment cycles, and keep updating your network about your accomplishments regularly to establish a strong word-of-mouth presence.

However, establishing relations with the investors is just the beginning. Investors these days are flushed with deals, in order to make sure you’re differentiating yourself from other founders, avoid pitching plain vanilla. Strive for being the cherry on top, something that makes your startup so attractive that the investors reach out to you before anyone else.

Just like a PMF (product-market-fit) is a must while building a product at a startup, identifying and adhering to an IFF (investor-founder-fit) is equally important while fundraising. The way I like to think of the IFF is knowing the fact that many investors and VC firms have certain sweet spots, sectors and stages that they are actively looking to invest in because it fits their investment thesis. As a founder, you’d be saving yourself a lot of time and money, by researching and targeting only those investors who are looking to invest in your space, and at your stage (seed, series A, series B) Besides, knowing what other resources—apart from capital—would be required to scale the startup, and figuring out whether the investor would be able to contribute towards that, is always a bonus point.

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With the new home office modality, companies have to know how to play their cards properly, in order to be more productive and profitable.

4 min read

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

Opinions expressed by Entrepreneur contributors are their own.

  • Activities should incentivize your team and promote their comfort.
  • More than 51% of companies have offered wellness activities to their teams.
  • All activities can be done remotely.

With the new home office modality, companies have to know how to play their cards properly, in order to be more productive and profitable, that is, they have to properly manage their production process, apply continuous improvement methods, modernize, and to the extent of where possible, innovate to generate added value that differentiates them from the rest. However, to be successful, it is necessary to prioritize the needs of employees, since they are the basis of any organization.

According to the report ” The Future of Work in Latin America ” , produced by the specialized Human Resources platform, Runa, executives are fighting to increase the benefits for their employees. More than 51% have offered activities that promote well-being in their employees, in areas such as: stress management (63%), physical activity (39%) and financial well-being (35%).

“Regardless of the role they play, all employees are an important part of the gear that makes your company move forward, so it is necessary to establish activities that encourage your team and allow their comfort,” says Courtney McColgan, CEO and Founder of Runa.

McColgan, shares five activities that you can offer to your team remotely, so that they maintain their levels of productivity and satisfaction:

  1. Stress management activities: Yoga classes or relaxation exercises at established times can work to relieve the load of stress, release tension and clear the mind of your work team, use platforms that allow the connection of your entire team , from This way they will be able to interact at a distance in sessions of 10 to 15 minutes.

  2. Physical activities: Inactivity from sitting for 8 continuous hours in front of the computer can reduce physical health, with overweight problems, poor posture and even headaches; Therefore, dance, stretching or muscle strength and balance classes can be of great help to maintain health.

  3. Nutrition activities: The body is the engine that drives us day by day, so a good diet is essential, therefore, providing the advice of a nutritionist who provides guidelines on how to improve your health through proper nutrition will help you to stay healthy and productive.

  4. Financial wellness activities: Workshops or courses that encourage them to maintain good financial health is essential, so their worries about expenses at home will be reduced effectively.

  5. Psychological help: The uncertainty about the future can be a great torment for your team ; outings with friends; the return to the office and the vacations, at the moment are not viable, so it can lead to anxiety and stress. Psychological help these days represents a great contribution to the health of employees.

Encouraging the feeling of belonging, generates in employees a state of satisfaction, in addition to ensuring the optimal operation of the company and consequently the achievement of established objectives.

“Many times motivation is related exclusively to financial incentives but this is not entirely true, there are other ways to increase the satisfaction and productivity of your employees,” concludes the CEO of Runa.

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Starting out for the first time is not glamorous.

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

Opinions expressed by Entrepreneur contributors are their own.

Nobody disputes that running your own business is very rewarding. I have seen the glamorous photos on Instagram of businessmen enjoying the beach and on Facebook I have found posts that say “I love my job !!!!!!” (with everything and the errors in the exclamation marks).

Entrepreneurship can be great, but let’s be honest, running your own business can also be difficult and scary. What can you expect from your first year of business?
This is the naked truth of how mine was.

1. There is much more administration than I expected
During my first year of business I tried to spend as little as possible. I did everything I could myself. For example, I spent 10 hours a day learning to drive on my social media; I optimized my profiles hundreds of times, got millions of customer testimonials, and so on. And all of that took a long time.

2. I used to eat at my desk
Most days I had lunch on my MacBook. Either that or she would buy junk food that she “sniffed” between client appointments. None of that is fancy or healthy. Sometimes I did it because I had little time, but other times it was because I got stuck finishing a project. However, it is essential to take care of your health, something that did not matter to me. Which brings me to my next point.

3. I gained 10 kilograms
I’ve never been too skinny, but I gained weight from bad habits that I was sabotaging myself with. Eating on top of my computer, skipping breakfast, not moving around enough, not eating dinner until I was starving and then eating whatever I found. Sadly the list goes on and it is very common among new entrepreneurs. We dive headlong into our work and put everything else in the background. Why do we do that to ourselves? Not well. I have lost half the weight I gained by adopting new habits, but it is difficult.

4. I made bad decisions
It was very difficult for me to establish my personal brand. For a while I tried to represent what other people wanted to see in me and not only did I not succeed, it made me feel false. But that’s the lesson of experience: when you know more, you decide better. Learning from your mistakes helps you do better next time.

5. I had to ask a lot of help
In my first year of business I launched a series of online courses. I didn’t know anything about the required technology, so I had to ask for help, something that is very difficult for me. I didn’t know much about making videos or even how to take courses, but admitting how little I knew helped me learn from those who were experts.

6. I improved my work all the time
In my first post it sounded like a corporate robot, but now I have another voice. I’ve rewritten articles and posts, experimented with social media, improved programs, and so on. I’ve done a lot of trial and error. Building a business is a process, not a to-do list to check off. The reality that work is never really done can be frustrating at times.

7. I was terrified all the time!
Launching your product and service without being certain that it will succeed is terrifying. It is about generating a new company, finding clients, sharing your ideas, promoting your work, asking for help, that is, you are always vulnerable. Running your own business, especially at the beginning, is like bringing your heart out.

However, once you start to gain experience the fear subsides and you start to enjoy your adventure. Do not give up!

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There are currently 126 Venture Capital investment funds in Mexico, of which 104 operate mainly with money from Mexican investors.

3 min read

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

Opinions expressed by Entrepreneur contributors are their own.

Currently we hear about technology companies that have grown exorbitantly and that have acquired great importance due to the impact that their solutions have on the market. Despite the accelerated growth of these companies and the impact solutions they have, one could not speak of the impact, scaling and growth without the armed wing of private capital, specifically Venture Capital, generating an impact such that today we could see it as a solution to promote the growth and well-being of our economic ecosystem.

According to the Mexican Association of Private Capital, there are currently 126 Venture Capital investment funds in Mexico, of which 104 operate mainly with money from Mexican investors. These funds preferably invest in startups at all stages of these companies. And although many efforts have been made to promote the development of the VC value chain, there are still some that require strengthening, as is the case of angel investors.

What do angel investors do?

Angel investment is an activity that promotes entrepreneurship and innovation through the contribution of capital, mainly in startups that are in the early stages of their life cycle. Investor angels do the same job as mutual funds without being institutionalized; However, just because they don’t operate this way doesn’t mean you’re not looking for an investment return on your capital.

Image: Isaac Alcalá / Entrepreneur en Español

What are the main models that exist?

Angel investors usually work independently and through angel investor networks.

If your goal is to become an angel investor, the suggestion is that you approach a network so that you make adequate investments, you know the investment theses, which are the best recommendations. A network works as a facilitating entity in bringing entrepreneurs together with high net worth individuals or families and turning them into an investment opportunity for the former. A network of angels, it shares risk and has a diversified batch of startups, says G2 Momentum Capital, a VC fund for startups.

The Mexican ecosystem has been strengthened and is on the right track; However, it is still necessary to strengthen this link in the Venture Capital chain and one of the ways is by adding networks and new angel investors.

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5 min read

Opinions expressed by Entrepreneur contributors are their own.


Harshil Mathur and Shashank Kumar (Founders of Razorpay) always wanted to build something which would solve a core problem that the masses face. In 2014, they were working on a crowdfunding portal for India but soon realized that most of the online payment gateway solutions were extremely cumbersome to get started on, especially for startups and SMEs. When they observed and witnessed this poor state of the online payment industry in India, they understood that they have a larger and more important issue to solve – to democratize payments for Indian businesses, particularly the underserved economy, SMEs. And that is how Razorpay was founded in 2014, as India’s first payment gateway built for startups and creating a platform for a simple, affordable and secure way for businesses to accept payments online. Six years to now, Razorpay has evolved from being a payment gateway to a full-stack financial services company with offerings such as Razorpay Capital, and RazorpayX.

Razorpay Capital is a lending platform, designed to support SMEs with instant and easy access to lenders. Based on the business’s transaction history with Razorpay, the company facilitates credit. The platform currently offers a loan of ticket size varying from 5 Lakhs to 1 Cr. RazorpayX is a neo-banking platform. The solution is designed to simplify banking for businesses, accelerate and supercharge every aspect of a business’s financial operations — from accepting payments and managing cash flow to reconciling transactions and flexible payouts. The neo banking arm of fintech giant, RazorpayX has hit a TPV (Total Payment Volume) of USD 3 bn annualized. The company now provides technology payment solutions to over 1,000,000 businesses.

In the last six years, the company has powered digital payments for more than 5Mn small and large businesses such as Facebook, Indigo, BSE, Airtel, Reliance, SpiceJet, Aditya Birla, and Oyo, among others. The company has been working towards enabling the adoption of digital payments especially in traditional cash-rich sectors such as education, insurance, and mutual funds, among others. The company has clocked in a healthy growth rate of 40-45% healthy month on month growth in the last 6 months of Covid-19 and is geared up to increase the number of businesses to 15 Mn by 2021. This full-stack financial services company expects a 4x growth in its revenue in this year, 2021. Just like every other startup’s journey, Razorpay’s journey has also been filled with ups and downs but it was all a journey of perseverance that has brought them and the company thus far, reaping fruits of success. In 2013, when Harshil and Shashank decided to build something new for the fintech ecosystem without having any knowledge or a qualified background in finance. One of their first steps towards building Razorpay was working with banks and financial institutions, but soon they realized the journey wasn’t going to be easy because there were many complications that were lying ahead of the road. They met over 100 bankers who didn’t believe in them or the idea as they were primarily seen as ‘college graduates’. But they never gave up until one bank helped them go live and from serving five customers out of a small office in Jaipur, Razorpay today serves over 5Mn businesses across India.

Soon in the year 2016 when the market had gone really weak in India, Razorpay founders felt the journey isn’t going to be smooth as they thought because, at that point in time, VC funding was also drying up, businesses weren’t scaling up much. But there was a hope in the unseen when one of the investors went ahead and offered Razorpay a series B term sheet and said, “while the markets are doing bad, we firmly believe that your business will do really well as the market starts recovering. And we wanted to offer you a series B term sheet”. And for Razorpay that wasn’t about the money but the belief that there’s an investor and board member who believes in the journey as well. With total fundraising of USD 206.5 million from marquee investors along with 33 angel investors, the fintech startup achieved a billion-dollar valuation in the year 2020.

When asked about the road to profitability, Mathur says, “Razorpay expects to attain break-even in the forthcoming financial year.” A key area of growth for Razorpay in 2021 is Business Banking, and via its Neo-banking arm, RazorpayX, the company has been disbursing working capital of 250Cr per month and aims to increase it to 500Cr monthly in 2021.




SERIES A: USD 11.5 million (Tiger Global, Matrix Partners)

SERIES B: USD 20 million (Tiger Global and Y Combinator along with participation from Matrix Partners)

SERIES C: USD 75 million (Ribbit Capital, Sequoia Capital India)

SERIES D: USD 100 million (GIC, Sequoia Capital India, Ribbit Capital, Tiger Global, Y Combinator and Matrix Partners)

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The effects of the pandemic have been devastating for thousands of companies across the country, but alongside their financial problems there have been various legal complications.

5 min read

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

By: Cimet & Almazán.

The effects of the pandemic have been devastating for thousands of companies across the country, but alongside their financial problems there have been various legal complications. One of them was the increase in requests for bankruptcies or possible bankruptcies, given the inability of many businesses to fully comply with their obligations.

“From the first months of the confinement, this situation was predicted and despite the fact that the closure of the federal courts did not affect commercial bankruptcies, which are considered as ‘urgent cases’, as stated in General Agreement 8/2020 of the Council of the Federal Judiciary (CJF), everything indicates that the wave of these processes is a reality, “says Yisroel Cimet, partner of the Cimet & Almazán law firm, specialized in civil, commercial, financial, real estate, insurance and surety law.

Even on April 27, two months after the first case of COVID-19 in Mexico, an initiative to reform the Commercial Bankruptcy Law was presented in the Senate to solve this avalanche of petitions. The idea was to design a solution that corresponded to the new needs of this complicated context, however it remained as such: in a proposal.

Among the changes that this initiative seeks, according to the Cimet & Almazán office, the following stand out:

  • That the use of the commercial bankruptcy process under the emergency regime will be applied from the existence of the fortuitous event or force majeure, as well as a declaration of an emergency and for as long as it exists and for the following six months.
  • The application may be submitted digitally and without the need for a physical file.
  • The merchant will not have to prove widespread breach of its obligations.
  • Within a period of three business days, the judge will admit outright, and without further formality, the request for commercial bankruptcy and without the need for a summons, he will issue a declaration of bankruptcy.

The unusual increase in bankruptcy applications puts on the table the need to reevaluate the way in which said federal procedure is carried out, as well as the processing times, so it is worthwhile to continue to monitor the way in which the judges They will attend to the requests that they already have on the door.

Bankruptcy is not the same as bankruptcy

According to data from the Mexican Institute of Social Security (IMSS), last May almost 10,000 companies in the formal sector had already registered their employer leave with the agency; in other words, the same number of companies went bankrupt. For this reason, it is important to note that bankruptcy and bankruptcy are not the same, since the former penalizes the lack of liquidity to comply with obligations and seeks in an orderly manner to reach an agreement between creditors and the debtor in order to organize who is owed, how much is owed and how the payment will be made, taking into account a majority of votes.

Unlike this, bankruptcy is when the commercial bankruptcy procedure is not fruitful: the parties do not reach an agreement between them and go to a stage of bankruptcy and liquidation.

In this sense, the commercial bankruptcy has as its main purpose to safeguard the source of work and economic activity, hence its importance not only as an entity that contributes to the conservation of sources of work in difficult times, but as a reactivator of the economy, necessary for the new normal.

Bankruptcy or bankruptcy What is appropriate?

Knowing if the best thing for a company is to aspire to bankruptcy or outright go bankrupt will depend on each one of them, their ability to negotiate with creditors and their financial viability; however, it is important that they know the effects and scope of each of these procedures.

“Conciliation and respect for what has been agreed is key to succeed, we must find a way to ‘not throw in the towel’ and try to save businesses, sources of employment, but also comply with those who have obligations,” he says Cimet.

The faster the problem is solved, the better the response will be, do not wait to have a truly problematic financial situation in which there is no way to pay anyone. The commercial bankruptcy does not have to be a reason for fear; on the contrary, it can be a good alternative for many companies.

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The president of Mexico announced that his symptoms are mild and that Dr. Olga Sánchez Cordero will replace him at morning conferences.

3 min read

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

This story originally appeared on Alto Nivel

The president of Mexico , Andrés Manuel López Obrador , reported that he has COVID-19 with mild symptoms and that he is already receiving medical treatment.

“As always, I am optimistic. We will all move forward. Dr. Olga Sánchez Cordero will represent me in the morning to report how we do it every day, ” the president reported on his social networks . The president added that he will continue to monitor government affairs from the National Palace.

Earlier, Foreign Minister Marcelo Ebrard said that López Obrador will hold a call with his Russian counterpart Vladimir Putin on Monday.

“Regardless of the friendly relations, there is a possibility that they will send us the Sputnik V vaccine ,” said the foreign secretary .

President López Obrador went on a working tour this weekend in the states of Nuevo León and San Luis Potosí , and on Friday he had a phone call with the president of the United States , Joe Biden .

During 2020, members of the cabinet and close associates of the chief executive tested positive for the disease, without the president having been infected.

López Obrador has said on several occasions that he will not be vaccinated against COVID-19 until it is his turn according to the national vaccination campaign, with which health workers are first inoculated and then the general population is vaccinated, starting with those over 75 years old.

Mexico reported on Saturday for the fourth consecutive day more than 20,000 new confirmed cases of coronavirus , amid a resurgence of infections and the saturation of hospitals that hit several areas of the country, including the capital.

Local health authorities reported 20,057 new known cases of COVID-19 , the disease caused by the coronavirus that emerged in China in late 2019, bringing the total number to 1,752,347 .

The number of deaths related to COVID-19 rose to 149,084, after adding 1,470 new deaths in the last hours, according to data released by health officials.

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5 min read

Opinions expressed by Entrepreneur contributors are their own.

As a small-business owner, I want to empower my employees to negotiate better…with me.

I care for my team and I want them to feel valued. I also recognize that if my employees believe they are treated fairly, they will be more engaged. If they know I am listening to their wants, needs and concerns, they are more likely to listen to my wants, needs and concerns, which translate to my vision for the company.

I’m not alone.

According to a recent Oxford University study, happy workers are 13% more productive — and they’re more likely to stick around.

So, yes, I want to have conversations about benefits and pay with my employees. Moreover, I want them to feel empowered to start the chat. But I also want these talks to be participatory, pleasant affairs — not heart-pounding encounters we all just want to get out of alive.

It’s not impossible. Here are my five successful strategies…

Related: 3 Golden Rules of Negotiating

Set a date

For most employees, conversations about salary and benefits feel weird and awkward. Even the prospect induces dread. I’m sure that dread is one reason why a Randstad US survey found 57% of women and 51% of men have never negotiated their pay. Help workers over the initial fear by getting a meeting on the calendar. Let them know how the discussion fits into the process of determining their salary and benefits. Emphasize that this is not the meeting. Rather it’s the beginning of a dialogue about their role in the company’s success over the next year.

Provide a list of questions you’d like to discuss

 By answering a few simple questions, you focus your team members and yourself. Some queries I ask: What role do you want to have with the firm and are there new responsibilities you’d like to take on? How can I help you be successful, such as by supporting you in learning a new skill or clearing roadblocks? And what information do you want me to consider in our discussion about your compensation and benefits next year?

Related: How to Negotiate More Effectively in the Current Home Market

Have them gather facts and figures 

Spell out the research they should conduct before your meeting. For salary discussions, I ask employees to bring industry comps and other information to help evaluate if they are being paid correctly. Similarly I make sure to know as much about our industry, company and comp plan as my team members know about their specific job titles. I share my sources with my team so they know what I am referencing. All this work helps us get on the same page about salary expectations. At the same time, the conversation can clarify discussions beyond pay. If an employee is currently a trader but hopes to move into the role of portfolio analyst, I know that going into the discussion.

Model clarity 

Encourage your team members to be very clear with what they are asking for and why it’s important to them. If they want more flexible work hours, for example, ask them to come with a solid case. On your end, you need to be clear with your response. If you do allow more flexibility, set expectations for deadlines, accountability and communication. Be clear with yourself and your employee about how approving flexible hours will affect others in the company. Will you need to offer the same benefit to everyone in the office?

Alternatively, if you deny the request, be clear as to why. For example: I require that some job functions happen in our office, where I know my team has a high-functioning IT network. Certain activities, like portfolio trades or live events, are too high-risk to perform from a location with questionable connectivity. So, yes, someone can work from home due to COVID but, no, they cannot spend the next six months at a beach hotel in the Bahamas. When your team understands why you are able — or not able -— to say “yes”, it helps them figure out what they can ask for next time. And it helps them construct that future ask in a way that benefits both them and the company.

Know “no” is just the beginning 

Prepare yourself for pushback. Employees who feel heard and respected in a negotiation are likely to keep pushing for a resolution that satisfies you both. Are you ready to change your answer? And what do you need in return for a yes? Don’t worry about taking time to mull over your final decision. Your employee will appreciate your willingness to think the options through more extensively.

Related: In Order to Negotiate Better, I Had to Unlearn ‘L.A. Law’

Empowering my employees to succeed in these tough conversations has not only helped reduce my turnover, but also produced additional benefits. We’ve all sharpened our negotiation skills, my team feels valued and valuable, and I don’t wonder if folks are happy and likely to stay or silently disgruntled and looking for another opportunity. My business is better for the negotiation toolkit I share with my employees, and yours can be, as well.

Brennan Financial Services / 8201 Preston Road, Suite 400, Dallas TX 75225 / (972) 980-7526 Securities and advisory services offered through FSC Securities Corporation (FSC), member FINRA/SIPC, and financial planning services through DBT Wealth Consultants. FSC is separately owned and other entities and/or marketing names, products or services referenced here are independent of FSC.


While making important decision of your business, Don’t take a chance. Trust only expert.

Choose from our variety of services, Connect with the right expert.

Here’s a viewpoint that might cause you to do a double take: Actively seeking rejection means you’re learning, adapting and getting that much closer to your destination.

Related: 4 Ways To Push Through Adversity and Failure Without Ego

Before you click away, just think about this a moment: Entrepreneurs are innovators: They defy conventional wisdom to find ways to improve it, and they challenge assumptions to approach a given industry or need from a unique perspective. They live at the intersection of innovation and practicality. For them, failure is a necessity to reach success.

So, maybe failure’s “teachable moments” are actually worth striving for because they help you attain that innovation.

Two entrepreneurs in Michigan have recently explored this idea. And, as a result, they’ve taken the embrace of failure to the next level: Jordan O’Neil and Jonathan Williams co-founded Failure Lab, an event that actually encourages participants to share stories of their biggest failures in their personal, academic and professional lives. The two men emphasize that the event isn’t just about comparing failures — it’s an exercise in learning from them and becoming more resilient after them.

Each failure an entrepreneur encounters is a lesson; it’s a learning experience to help grow and succeed on the next attempt — and the attempt after that. Accepting failures as a critical element of doing business is essential for entrepreneurs on the path to success. Here are the steps to take on that path:

Actively seek rejection.

I’m an advisor for several companies and fellow entrepreneurs. Working with entrepreneurs is one of my passions, and as an active angel investor, I speak with startup entrepreneurs and founders regularly. In short, I’ve seen many people — including myself — experience failure.

But that’s not a bad thing: Getting rejected means we’ve taken action to get ourselves closer to our destination and enables us to learn and adapt. Consider this “fail” acronym: Frequent Adaptation Inspires Learning. It’s about changing your perspective and how you see failure.

In his book Thinking, Fast and Slow, Daniel Kahneman, whose work in cognitive neuroscience and rationality earned him the Nobel Prize in economics, unraveled human thinking. He described the many “cognitive biases” that people live with; he illuminated how our brains seek to reduce complexities into familiar, simplistic alternatives. While this thinking pattern might be helpful for someone going about a daily routine, it can stifle innovation. When it comes to entrepreneurship, there must be a willingness to experiment.

Failure, in other words, helps inform the thought process behind experimentation. Sometimes, the only way to know how an idea will work out is to try it. If it doesn’t work, that result signals that it’s time for a new approach.

Approach failure like a lesson.

Success requires the ability to execute. Most of the time, the actions required of an entrepreneur make rejection a distinct possibility. Room for failure exists everywhere, from learning something new, to selling products, to asking for venture capital, to taking out a business loan — and even to telling friends and family about a new idea. But the next time you’re facing a meeting or experience that might go downhill, remember these benefits you can take from rejection:

While making important decision of your business, Don’t take a chance. Trust only expert.

Choose from our variety of services, Connect with the right expert.

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