5 valuable tips from Elías Ayub for entrepreneurs

The Mexican businessman Arturo Elias Ayubhas become one of the most representative figures of business in Mexico, as he has shared various entrepreneurial tips, and through social networks, has become A guide for everyone who wants to start a business or continue learning to function in the business world.

Digitization and social networks have become one of the best allies when marketing and selling products, but also in channels that facilitate access to information, training and learning on issues related to entrepreneurship.

In this sense, we share with you five of the most important tips that the businessman has been transmitting on his social networks and in his participation as a “shark” in the program Shark Tank México.

1. Always take care of your name

When getting a partner or doing business with another entrepreneur or businessman, look for a person you can trust; His background and actions will say a lot about who he is.

“Make a name for yourself as an honest person, who complies, who doesn’t cheat, honest, little by little and every day of your life, and do you know how you lose it? with one that you make crooked, with a transit, little lie, lie, there you lose that name that you were forging over the years. Believe me, there is no more valuable asset in your life than your name, I know those Mexican mega-entrepreneurs with whom I would never do business and I know people that I know that doing business with them will work, because they are honest, I don’t they are going to deceive and they are not going to trap me”.

2. Get involved with your product and your customer

In one of the Shark Tank Mexico episodes, the businessman addressed an entrepreneur who was distributing his product, but did not have the expected sales, so the businessman made it clear to him what he had to do to improve.

“There is no one like you personally to know what is happening with the client and with your product, my advice is: roll up your sleeves, go to the point of sale and see why it is not selling and ask the people who pass through the corridor where it is displayed: hey, did you see it?, do you like it?, why do you like it? Why do not you like it? Do you feel that it is expensive? Do you think that it is useless? That way you’ll realize why you don’t have the sales you want.”

3. Know your numbers

37% of companies in Mexico do not have a financial plan, most of the time that is what condemns the business to failure, Arturo Elías emphasizes the importance of knowing your numbers when starting a venture.

“Know numbers like the back of your hand, I prefer that you do not start a business, even if you have a brilliant idea. Knowing your numbers is knowing perfectly what is happening in your business, it is an x-ray that will help you to know where your income is, where you are selling more, your expenses, where you need to cut expenses, etc. Have a monthly income statement and know your business numbers well”.

4. Never get discouraged

Businesses are not done overnight and failure is part of undertaking; however, learning from what has not gone well is essential to start a new project.

“You are going to have a thousand failures and a thousand falls, I cannot count the times that I have broken it starting and doing business. the joke is learn from every failure, learn from every fall, get up with more desire and say, ‘I’m going forward’. Now, if you fall all the time and see that it doesn’t pull, what you have to do is change the business. But take advantage of the falls so that they are a great learning, the more times you fall, the more it will help you to move forward ”.

5. Work hard

The businessman indicates that to achieve success you have to be willing to give everything, and know that the effort is non-negotiable, This is the only way to know every detail of the project.

“If you want to be an entrepreneur, you have to crack it and also know every part, every detail of your business. When I was little, my dad took me to his fabric store and put me in the warehouse to load packages to store them, to know the order and understand why they were going that way, he would charge me, make sales at the counter, measuring each meter, but only that way I was able to know the business like the back of my hand, for this to be possible, you can only achieve it by working hard”.

These tips and some others are available on the entrepreneur’s social networks, technology today has us just one click away from accessing very valuable information, you just need to want to learn and intend to keep improving in order to have a successful business.

The businessman works as general director of the Telmex Telcel Foundation, director of Uno TV and Claro Sports, director of Strategic Alliances and Contents of América Móvil and is also the author of the book “El negociador”.