| 7 Most Common Mistakes Latinas Make in Their Business |
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| El Monte, CA - December 12, 2007 |
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| Interview opportunity with Maria De Lourdes Sobrino, Founder and CEO of Lulu's Dessert Corporation and the author of Thriving Latina Entrepreneurs in America (WBusiness Books, October 2007) |
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| In enumerating the seven most common mistakes Latinas make in their business, I do not mean to scare you. My intention is to prepare you for the difficult road ahead. These mistakes are not exclusive to the beginning stages of a business; instead, they continue to be obstacles throughout its duration. Even after thirty-five years of being an entrepreneur, I am still struggling with many of these issues. However, with experience comes the ability to avoid making these mistakes: |
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| 1. Lack of focus: |
| Many Latina entrepreneurs begin a business and immediately attempt to branch out into something else simply because they think it's a good idea. |
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| 2. Inadequate financing: |
| Sometimes we think we know exactly how much it is going to cost to start a business and unfortunately fail to plan for unforeseen expenses. That can have a big impact on the financing we need, or thought we needed. |
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| 3. Ignoring a problem: |
| Not taking action when a problem arises will inevitably lead to more problems, and sometimes the end of a business. While problems are often unpleasant to deal with, it is better to deal with them than to suffer the consequences of ignoring them. |
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| 4. Not delegating: |
| Delegate every task that can be done by someone else in the organization so you can focus on the duties that will keep your business going for a long time. |
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| 5. Inconsistency with product or service quality: |
| It is always best to maintain a steady level of quality, especially if your product or service is already at its peak quality, otherwise your customer will be unsure of what to expect from you. |
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| 6. Not understanding your competitors: |
| Having a full understanding of what you are up against is one of the best weapons in maintaining a successful business. |
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| 7. Unwillingness to work hard: |
| I know it sounds like common sense, but I know of many business owners whose business ended because they did not commit enough of their time or effort. |
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| About Maria de Lourdes Sobrino and Lulu's Dessert |
| Lulu's Desserts was the first business in the United States to offer ready-to-eat gelatin desserts and it was born out of one Latina's desire to bring a little bit of Mexican tradition to the U.S. "Everyone knows that the one dessert you can find in most homes in Mexico is gelatin in a variety of flavors," says Maria de Lourdes Sobrino. "I knew that if I could make it convenient for families to eat, selling it would be easy." At first Sobrino, sold Lulu's Dessert from her car-traveling to small, 'mom and pop' markets in Southern California. Later she found a distributor to bring her products to supermarkets. Today, Wal-Mart is the largest retailer carrying her products. |
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| Today, Sobrino enjoys not only the success of being a successful business owner but also the recognition of serving as a role model. Harvard University included Sobrino in a traveling exhibit of Enterprising Women, "The Business Women of America: 1750-2000, 250 years of History of American Women Entrepreneurs." Sobrino was included with 40 outstanding women in business-like Oprah Winfrey and Meg Whitman. |
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| Her new book about her experiences and that of other successful Latinas: Thriving Latina Entrepreneurs in America is in bookstores now. "I am extremely honored that I had the first company like this. Basically, I started an industry that didn't exist and it wasn't until eleven years later that Kraft entered the market of ready-to-eat gelatin and puddings. I have felt so special when women reach out to me for inspiration. I am part of a significant contribution that many Latinas are giving to our economy." |
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