Blog 247: What does the Hispanic consumer want?

Eric’s curiosity for what was behind the billboards he would see in the streets and the magazines in the grocery store started when he was a youngster. He wanted to know how the images and messages were put together. He wondered who thought of them, what did they want him to take from looking at and reading these ads. Today he admits he is obsessed with communication and how brands interact with consumers.

I find it fascinating how if as adults we connected with what intrigued us as children we would discover what we were drawn to and passionate to learn more about as kids, what sparked our curiosity. I believe the key to finding work or projects that matter are hidden in the early years before we were told our ideas were silly or we could never make money. Desperate to belong and to be accepted we stashed away those dreams.

What were you drawn to as a kid? What did you most enjoy doing?

Eric shares how as a freshly minted MBA graduate he had a million ideas to test and after working a few years, while working on his MBA, he saved up money to venture out on his own. He soon realized it being an entrepreneur took more than a bucket full of good ideas.

We have heard in the podcast interviews time and time again that an idea is not good enough. What matters is a well executed plan supported by a team that believes in your idea as much as the founders do.

Eric shared candidly that he experienced numerous pivots from the start and it took a few tries, several failure attempts until he found the right mix of people, tools and market for his company.

I found it interesting when he shared the market opportunity he saw that inspired his startup. He realized brands do not have enough insight on the Hispanic consumer and are using tools that give them incorrect data about what the Hispanic consumer wants from these brands. I would have thought this is an industry saturated with marketing agencies focused on multi-cultural issues and that large corporations had well seasoned marketing departments that had a keen idea of how to market and sell to these consumers. Apparently I was wrong. Eric shared the flaws he saw in these processes and how he carved out a niche for his startup to help these companies zone in to what the Hispanic consumer really wants.

Eric shared that one of the best tips he has received is to be willing to network and look for opportunities to network. We all know this, yet many entrepreneurs cringe at the idea of going to networking functions and meeting others, most entrepreneurs rather work on the business. However, networking is part of working on the business, it is part of acquiring “soft capital” in the form of relationships, ventures, affiliates, knowledge that help you build the company you seek.

As a life and business coach I help clients develop the “soft capital” skills they need to be confident entrepreneurs and individuals.

Eric’s tips for new entrepreneurs:

  • If you are an entrepreneur, believe it. Project that to others.
  • Behave like an entrepreneur.  
  • If you are going to do something you just have to do it.
  • If you have a business card you are that, it is okay to be confident.
  • Making money is not a qualifier for being an entrepreneur.

Eric hopes you will walk away with these points after listening to our chat:

  • Failure is part of the process.
  • Realize there are going to be places where you will need to pivot. Figure out when is the right time to pivot for you.
  • All entrepreneurs pivot at some point in their journey.
  • Don’t be fooled into thinking being an entrepreneur is easy, there will be difficult decisions along the way.
  • It is important to find the right teammates to help you reach your goals.

You will find so much more information when you listen to the full interview  including what is Eric’s best habit as an entrepreneur. Check out the audio interview and the book Eric recommended. I am sure you will find something that will inspire and help you along your entrepreneurial journey.

Be Bold. Be yourself.

  1. What would be the easiest step you could take to get started?
  2. What networking group or mastermind could you join to support you?
  3. Imagine you are fully confident that others will support you, now what will you do?
All entrepreneurs pivot at some point in their journey .@ediaz33 .@OyeIntelligence .@TheNativa Click To Tweet

Share in the comment section below your answers to these questions and your takeaways from listening to the audio interview and reading this blog note.

I appreciate your time!

Marcie

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September 22, 2016
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