In the era of Trump, US businesses can learn from Latin American startups

Matias Recchia is the CEO and co-founder of a super-successful startup in Latin America. His company lists Anheuser Busch Inbev NV (ADR), Restaurant Brands International and Starbucks Corporation as its customers. Recchia's startup was funded by Qualcomm and a number of other prominent Silicon Valley investors.

Adopt innovative and high recruiting practices

Immigration is a dirty word in Trump's USA. For businesses, the inability to hire and retain new people simply because they were born somewhere else can turn out to be a bug-bear. Startups will find it harder than most as most candidates prefer stability, predictability and security. It is thus important to come up with catchy words which will attract the ears of people you desperately want to hire. The proposition must be made exciting. If you believe that you cannot bring your foreign workers into the United States, then it makes perfect sense to open a branch office in their home country. This would ensure you will enjoy the cream of the talent pool crop.

Uncertainty is a recurring feature

According to Recchia, it is important that American businesses learn how to not only survive, but also prosper in an uncertain world. He highlighted the fact that it is vital to adapt. The last feature comes naturally to Latin American companies as taxes and rates of currency exchange frequently vary. They assume that only change is constant, and this can be applied across all parts of the businesses. He pointed out that regulations governing healthcare will change. Further change is also in the offing for financial regulations. It can be complicated to many, but will land a number of new employment opportunities for the daring few. It is thus vital that the owner becomes comfortable with uncertainty.

Cash is still king

It goes without saying that as you need oxygen, your business require cash. If you have cash, you can easily ride over a lot of economic uncertainties. Recchia underlined the fact that businesses must never assume that they will always bring in cash. It is important to keep a close eye on the profit/loss statement.

Good to be a change agent

As a business owner or manager, the responsibility rests on you to change society for the better. It is vital to make contributions to social mobility. These actions goes far beyond the screen activism of Twitter and Facebook.

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