The advantages of a business plan
Eager to start a flower business-marketing activity in Mexico has annual sales of $ 200 million, according to official data, and Jorge Ortega Nancy Flormart Pasalagua founded in 2006 in Mexico City.
And they took it very seriously, because although three years ago the U.S. economy sailed calm waters, they prepared a business plan with economic scenarios “grounded.” The idea was to adapt to any changes that occurred in the context.
“After analyzing the market we find that the flower business offers great opportunities,” says Ortega, executive director of Flormart. How different from the competition? Accompanying its offer innovation-through the sale of flowers and arrangements via Internet, good service and proper management of resources.
The first steps
Shortly after starting the business, entrepreneurs and attended to customers in Mexico City, Guadalajara, Cancun and Queretaro, among other cities. Then came her first corporate client, Kraft Mexico. “Business is like a concert, if you play a first song they like, I will ask for more. And that happened with Kraft, I loved the way of delivery and price, so we asked if we had other services, “says Ortega.
The entrepreneurs wanted to continue growing and that meant we had to increase their productivity. To this end, in 2008 took the course “Start Your Business” at ProEmpleo Foundation-an incubator that gives advice to entrepreneurs and small businesses. “The interesting thing is that while the course lasts a month, consultations are ongoing,” said Pasalagua. “If you have questions about your finances and leave feeling that your results are not expected, you help to correct the course.”
The experience was so positive that entrepreneurs have moved beyond and incubate ProEmpleo your project. The first step was to professionalize their business plan. Then Florist strengthened their project on-line through www.flormart.com.mx place, developed the concept of setting social events and spaces, and began to give maintenance to gardens and market inputs for this activity .
A new stage
Motivated to continue growing, thanks to the recommendation of other entrepreneurs, Ortega and Pasalagua then approached the Institute of Entrepreneurship Mexiquense (IME), a public body in the State of Mexico who works in conjunction with the Federal Government, educational institutions and employers to fund and training of entrepreneurs and SME projects. “Our goal was to continue optimizing our business model, in order to raise capital to grow,” he clarified.
In August 2008, Flormart obtained through the EMI, a seed capital funding for $ 960,000 with a term of four years to pay and an interest rate of 6%. “It was just luck, but hard working, since ProEmpleo helped us refine our business plan with solid financial projections. So we show the profitability of our company, even in adverse situations like the current “emphasizes Pasalagua.
The key is to stay informed, be cautious and react quickly. For example, entrepreneurs planning to open in January a selling point to stop operating from an office. But with the evolution of the economy in recent months, decided to postpone the idea. “We are outstanding, among other indicators, of what happens to the Bolsa Mexicana de Valores, the evolution of interest rates and the dollar” they say. But, confident in the soundness of your project and watch for opportunities to bring the crisis, entrepreneurs are working to strengthen business operations.
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