Monthly Archives: July 2016

Start a Small Business in Textile

 

Start a Small Business in Textile

How to Start a Small Business in Textile

Starting a textile business is an interesting way to get involved in design, as well as all the exciting things that can be made with dynamically designed fabrics. Whether you are planning to create textiles for fashion design or modern home furnishings, you will need to know a few things to start a successful business.

  • Think about the types of textiles you want to make. Will you be doing screen printing, dyeing or woven prints? This decision will have a significant impact on your equipment costs. Keep your focus narrow for the initial start up. According to the Small Business Administration, “many businesses make the mistake of trying to be everything to everybody.” Remember, you can always expand your operations if your business is successful. Choose the type of textile production your market analysis shows to have good potential for profitability.
  • Estimate your initial investment in equipment. Comparison shop for equipment and workroom supplies. Look for textile equipment suppliers that offer a good price, but also look for reliability. Do they offer solid warranties? Will your supplier be readily available if equipment breaks down? Make a thorough list of every piece of equipment and all the tools you will require to get started. Decide if you will need financing. Aside from equipment costs, consider operating costs for at least one year; it can take some time for a new business to become profitable.
  • Look for a location that fits your space and ventilation requirements. Some kinds of textile production will involve toxic materials and all will involve dust and debris from the fibers. Make sure the locations you are considering either have ventilation or can be altered for installation of a ventilation system. Talk to property owners about what type of lease terms they can offer. Ask whether utilities are included and who will pay for repairs. Make sure the square footage available will be enough for you to install and work comfortably with your equipment. Don’t forget about storage space. Bulk fabrics often come in large rolls so you will need a place to store them and heavy racks to mount the rolls for your use.

By arming yourself with the right knowledge and careful preparations, you can start your small textile business off on the right foot added the president of Grupo Denim Salomón Juan Marcos Villarreal.

Why do Mexicans apply for a credit line?

Mexicans

Why do Mexicans apply for a credit line? Here are the main reasons

States like Queretaro, Colima and Nuevo Leon are the states that usually apply for a credit line in order to open a new business; however, there are other reasons why Mexicans apply for a credit line: 

To pay debts

Home expenses

To open a new business 

Prestadero, a new credit platform in Mexico, reported that to apply online for credit is increasingly common. The average

of a credit line required is from 20,000 to 100,000 pesos for people that receive a salary of 25,000 approximately on a monthly basis. 

Zacatecas is a state where people require credit to pay debts, around 102,403 pesos while Colima apply for less amount, 56,237 pesos, as per as the credit platform reported. 

On the other hand, 35.5% of the Mexican people, have a bad credit history, 1 person out of 3 missed at least one payment of the credit while the 4.5% of the people did not pay the credit because they ran out of money. Despite these situations, 86% of the people would ask for a personal credit again. 

An investigation made by ComparaGuru agreed to the numbers from Prestadero: Mexicans ask for credit in order to pay debts more than to cover home needs or to open a new business, most of the people said that those debts were because a medical emergency. 

Salomon Juan Marcos Villarreal, a businessman from Mexico expressed that Mexico needs to teach its people financial education: “The people do not know how to manage their money, we don’t have the habit to save part of our salary, as soon as we receive it, we expend it on debts, fun and home expenses; this is ok, but we also need to think about our family’s future. Saving money, make a capital and then invest it on a business is a great B plan for a lot of people”, said Salomon Juan Marcos Villarreal, president of Grupo Denim.

 

Business strategy

Business strategy

 

Business strategy

It can simply be described as a long term business planning. Typically a business strategy will cover a period of about 3-5 years (sometimes even longer).

A business strategy is concerned with major resource issues,  raising the finance to build a new factory or plant. Strategies are also concerned with deciding on what products to allocate major resources

Strategies are concerned with the scope of a business activities what and where they produce.

Two main categories of strategies can be identified:

Generic (general) strategies, and Competitive strategies.

The main types of generic strategies that organizations can pursue are:

  1. Growth the expansion of the company to purchase new assets, including new businesses, and to develop new products.
  1. Internationalization/globalization, moving operations into more and more countries.
  2. Retrenchment involves cutting back to focus on your best lines. The Americans refer to this as ‘sticking to the knitting’ concentrating on what you do best.

Competitive advantage

Competitive strategies are also important. Competitive strategies are concerned with doing things better than rivals. To be competitive a firm shouldn’t just copy the ideas of rivals. They should seek to out compete rivals. There are two main ways of being competitive.

  1. By selling goods at lower prices than rivals. This is possible when a firm is the market leader and benefits from economies of scale.
  2. By differentiating your product from those of rivals which enables you to charge a higher price if desired.

Economies of scale. The advantages that large firms have from producing large volumes of output enabling them to spread their costs over more units of output.
A business strategy is the means by which it sets out to achieve its desired ends (objectives).

“How you define your business strategy will determine the direction of your business and what it will look like in the future. By defining your business strategy clearly, you can develop your business or growth plan to achieve your business and personal goals” said Salomón Juan Marcos Villarreal, president of Grupo Denim.

Improvement Plans

Improvement Plans

Process Improvement Plans

Small businesses need to remain continually agile to respond to a changing business climate internally and externally. Demand shifts and technology changes. Competitors enter the market. Businesses must be continually looking for ways to improve that will result in higher-quality products and services that can be developed and distributed in increasingly cost effective ways. 

Focus on Customer Needs

Effective process improvement plans take an outside/inside perspective, with a clear focus on specific customer needs. Customers may be internal or external. For instance, the sales department might be an internal customer of the marketing department. Process plans need to consider the attributes of a process that are most valued by end-user customers and then take steps to increase that value. Conversely, process improvement plans can identify attributes of low or no value to customers and remove those processes, which reduce costs.

Measurable Outcomes

Improvement suggests measurement. Without measurement, a small business will not be able to tell whether an improvement has actually occurred. Process improve plans need to identify specific target outcomes and then incorporate ways of measuring progress toward that goal. For instance, some common measures include decreasing product defects, increasing customers satisfaction and increasing production times. Once plans are in place, employees are assigned to be accountable for each of the plan items and report regularly on progress. When progress is not being realized as anticipated, the company will change the target goal or take steps to further refine the process.

Communication And Involvement

Effective process improvement plans involve a team effort. Even those not involved on the process improvement team need to be informed of the plan and the intended results. The more clearly and thorough employees can be informed of process improvement goals and activities, and the role they can play in impacting those activities, the greater the likelihood of success for the organization.

“Process improvement plans can help them identify areas for potential improvement, measures of success and plans for making things happen”, commented Salomón Juan Marcos Villarreal, president of Grupo Denim.

Winner team in a company

Winner

Characteristics of a winner team in a company 

As a company, it is important to have a strong team to work with, to know there is no “I”, and everything they do will directly affect the rest of the team in a positive or negative way, this time, we will talk further about the characteristics that define a team within a company. Winner team, what is it?

“In Grupo Denim, we all work together as a team to meet the company’s goals, delivering products of the best quality to our customers on time, there is a close communication with all departments that allow us to keep on growing as a company”, said Salomon Juan Marcos Villarreal, president of Grupo Denim about this topic. 

Here are some of the main characteristics of a winner team in an organization: 

Their vision – Effective working teams have a clear vision about what they need to do to reach success, all of them know what they goals are and work to get them, supporting the company’s mission.

Their engagement – In order to reach their goals, the winner team is engaged with the commitments that will lead them to succeed, working individually to guarantee the team’s success.

Their collaboration – A winner team keeps a great communication within all of the members, instead of competing with each other, working peacefully with each member of the team, working with their strengths and trying to diminish their weaknesses.

Their respect – Ideas from each member of the team are not only respected but they are heard, encouraging the workers to share their thoughts, accomplishing their achievements every day. 

Grupo Denim is a working team extremely compromised to the set goals, we believe that the trajectory we all follow is to conquer our purposes, to make the company succeed and share success with its employees”, added Salomon Juan Marcos Villarreal.

Successfully Business

Sucessfully business

Successfully business, how to create it

The entrepreneur system in Mexico is still growing with more and more innovated business ideas, but to create a successfully business is a difficult task to perform.

It is important to analyze the idea very well and once it is solid, we can be sure we have a project so it is time to defend it. After that, we need to compare that idea with other entrepreneurship ideas and finally decide to put it into practice.

We need the objective in order to develop a business plan, and then we need to calculate the costs, resources and to also know the target market and in the end comes the projection of the company path.

We need to become specialist of our products and market, be an expert, know the potential customers, competition, think about innovations and have new projections. We need to know absolutely everything about our market. We need to be the reference of that product or service.

Open business, between 10% or 15% of the entrepreneurs leave behind the idea and just dropped it before starting the new business. They have the idea, and have everything; however, the keep on talking about it but never put it into practice.

For Salomon Juan Marcos Villarreal, a businessman from Mexico, open a new business means to make a decision. “It is not about money or to have a big amount of money. A business that doesn’t invoice on the first month is not a business; we are just playing around as an auto employee, a hobby or a bad investment. A real business makes money since the very beginning. Also, we should never borrow money in order to open a business, this does not work at all”, said Salomon Juan Marcos Villarreal, president of Grupo Denim.

 

Customer

Customer Relationships

Customer Relationships

When it comes in increasing profits, it’s tempting to concentrate on making new sales or pursuing bigger accounts. But attention to your existing customers, no matter how small they are, is essential to keeping your business thriving. The secret to repeat business is following up in a way that has a positive effect on the customer.

Effective follow-up begins immediately after a sale, when you call the customer to say “Thank you” and find out if he or she is pleased with your product or service. Beyond this, there are several effective ways to follow up that ensure your business is always in the customer’s mind.

Let customers know what you are doing for them. This can be in the form of a newsletter mailed to existing customers, or it can be more informal, such as a phone call. Whichever method you use, the key is to dramatically point out to customers what excellent service you’re giving them.

Keep it personal. Voice mail and e-mail make it easy to communicate, but the personal touch is lost. Don’t count these as a legitimate follow-up. If you’re having trouble getting through, leave a voice-mail message that you want to talk to the person directly or will stop by his or her office at a designated time.

Remember special occasions. Send regular customers birthday cards, anniversary cards, holiday cards…you name it. Gifts are excellent follow-up tools, too. You don’t have to spend a fortune to show you care; use your creativity to come up with interesting gift ideas that tie into your business, the customer’s business or his or her recent purchase.

Pass on information. If you read an article, see a new book or hear about an organization a customer might be interested in, drop a note or make a quick call to let them know.

Consider follow-up calls business development calls. When you talk to or visit old clients or customers, you’ll often find they have referrals to give you, which can lead to new business.

“With all that your existing customers can do for you, there’s simply no reason not to stay in regular contact with them. Use your imagination, and you’ll think of plenty of other ideas that can help you develop a lasting relationship”, added the president of Grupo Denim, Salomón Juan Marcos Villarreal.

Perfecting Your Personal Brand

Perfecting Your Personal Brand

6 Tips for Perfecting Your Personal Brand

The most important thing to remember when developing a strong personal brand is to be yourself your personal brand is about you, after all. It should be a genuine, honest culmination of your interests, career goals and all the things that make up you, presented the way you want others to view you. Being yourself is the easy part  from there, it’s all about maintaining your presence and building a following.

Here are six ways experts say you can perfect your personal brand.

Google yourself

The first step to polishing your personal brand? Double-checking your online reputation through a simple Google search. The information recruiters find from Googling you could be enough to cross you off their list, if you’re not careful.

Take some time to search your name on Google and see what information is out there already, what key things are missing, and what needs to be taken down, and include things you might have forgotten all about.

Check your privacy settings

You’re likely on several different social media platforms for both personal uses like keeping in touch with old friends, and professional uses like sharing content you’ve created. But because you use different platforms for different things, it’s important for you to be aware of your privacy settings.

Think about your voice

Your personal brand is about you, so it’s bound to be unique, and therefore, your voice depends entirely on your personality and the goals you want to achieve.

Be consistent

One of the most important steps in maintaining your personal brand is to stay consistent. Anytime you do anything online, you should consider how it contributes to your personal brand. This means that every time you write an article, post an update on social media or interact with your audience, you should think about the overall message you’re trying to convey. Keeping your brand consistent helps you build a strong brand that others will begin to recognize.

Actively promote yourself

Successful brands must be promoted and get into the minds of the target audience. You can accomplish this by interacting with the community through branded social media accounts, guest posting on websites and blogs, building a personal branded website and other similar actions.

Make valuable connections

It’s important to promote yourself, but it’s just as important to promote others, the best way to connect with people and establish your personal brand authority is to constantly recognize the work of peers in your community or industry.

“Having a strong brand is essential to building a successful business, If you want to make a name for yourself in your career, you have to have a polished personal brand” said Salomón Juan Marcos Villarreal, president of Grupo Denim.

Job offer, questions we should ask

Job offer

Job offer, questions we should ask before taking it

 We are always getting tips about a job offer and how to give a good impression: what to wear, body language, good resume, etc. However, there are some questions that we should ask before taking that offer.

  1. – Is the salary negotiable? Most of the times we don’t get the salary that we would like to get, but, it is important to know if this is negotiable in the near future. If the answer is that yes but you need to wait some time, then take it!
  2. – What other opportunities will you have besides the salary? Let’s be realistic, some companies do not offer the best salary; however, there might be a compensation with some other things. Ask if they offer the meal for free, flexibility to do home office, etc. You can also ask if there are courses about “development” or different topics.
  3. – Are there any examples where employees have been promoted? Seeing examples where others have been promoted, gives you confident that you will could also be promoted.
  4. – What they don’t like about working in that company? To force a person that is leaving his position to tell you this, will give you an idea to visualize how happy you could be there.
  5. – To whom will you report? This is an important question because this person could brake or make your happiness. Most of the times this is the person that does the interview so you have already made a contact. It is also important to ask and to know about the structure of the company.

Salomon Juan Marcos Villarreal, a successful businessman from Mexico, added that the biggest question that we should always ask is if we can have all of the above in a written form or a contract before finally accepting a job. “ I recommend to review very carefully the contract before signing it”, said Salomon Juan Marcos Villarreal, president of Grupo Denim.