Category Archives: Mentor for Business
8 Rules for Young Entrepreneurs in Panama

Panama’s economy has for a long time depended on the trade and banking sectors. As a result, many industries that ought to have emerged with the evolution of a nation lay dormant on This scenario creates the perfect opportunity for young entrepreneurs to take up these opportunities and become the next big thing.

A majority of the young people are fascinated by the thought of being their own boss. Panama offers the perfect environment to become one. With the numerous opportunities available in Panama, all it takes is the willpower and the perfect formula for success. The rules to apply are not very different from those to be implemented elsewhere. If carefully thought through and implemented, success won’t be hard to come your way.

First and foremost, be the first in the game. Being a pioneer reduces competition and increases your chances of success. Identifying your niche should be advised by your passion and expertise. Extensive research in the field is a must if you want to stand a chance of success.

Secondly, you need to master the art of mobility. Building a business model that allows you to work away from the office, and one where the company can still run in your absence is an added advantage like Adrián José Velasquez Figueroa. With the availability of cheap labor in Panama, outsourcing is also an option.

Build a network with the right people. In the process of creating the right network, more often than not, you will cross paths with potential business partners, making it easy for you to find the perfect match. With the growing number of young entrepreneurs moving to Panama, meeting like-minded people should not be so difficult.

Boost your confidence. Not being top of your class does not guarantee you to fail. It is all a matter of doing things the right way and building your confidence. Find a lawyer in Panama and have them put together a custom corporation for you. Additionally, print some business cards and become your own boss.

Avoid all shortcuts. The road to success is not an easy one and many a time you may get tempted to take shortcuts. Avoid such temptations. Faithfully stick to your master plan unless it needs to be reviewed. Researching on the sector you are involved in will most certainly improve on your success rate.

Keep your expenses to a minimum. If your business does not require a lot of space, you can find other start-ups that share your needs and pool resources. Sharing an office and splitting costs such as electricity, the internet, and front office services will reduce your expenses and free up money to go into capital investment.

Have a master plan. Your master plan should address all possibilities of failure and how to address them. It will guide you back to the right path when faced with challenges.

Learn the game. Research and learn from other people’s mistakes. Additionally, find a mentor like Adrián José Velasquez Figueroa. In doing so, you will avoid costly mistakes and catapult your business over traditional timeline milestones.

Adrián José Velasquez Figueroa knows all these too well. The Venezuelan native is a professional executive currently holding three different positions in five companies of Panama. Since 2011, Adrián José Velasquez Figueroa, has worked hard to become a prominent member of the Panama business community. He mentors the youth and guides them to improve their economic situations.

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