7 Lessons I learned after 7 years doing international business

Today is Globalfy's seventh anniversary! It all started after I had the experience of starting a business in the US as a foreign entrepreneur. This path showed me that finding the right opportunities in America is not as simple as it seems.?

Going through all the processes to take our business off the ground in the US showed me that other entrepreneurs, especially from developing countries, may need the same support I wish I had to start an international business.?

Now, seven years later, I'm happy to share some of the lessons I learned on this journey:

1) Latinx entrepreneurs can make an impact in LATAM or the United States

Did you know that "Latinos (in the US) are starting businesses at a faster rate than the national average across several industries, growing 34 percent over the last 10 years compared to just 1 percent for all other small businesses"? Right now, Latinos start more businesses per capita than any other racial or ethnic group in the country. Even though foreign entrepreneurs face challenges moving to a new country, there are a lot of opportunities for Latinx in the US. In LATAM, the geographic connection and shared language make cross-border businesses easier. Likewise, Spanish is the second most widely spoken language globally in terms of the number of native speakers.?

2) No information is too much

When I started doing business in a new country, it didn't take long for me to realize that while I knew how to sell and I knew how to handle customers, there were a lot of intricacies about running a business that I didn't know anything about. So I started doing research and connecting with people that had the knowledge I needed at that moment. I quickly found out that there's no such thing as too much information when running a business—you can never learn too much. The key is figuring out what information is relevant for you and putting it into practice.

3) You can't build anything big alone

It can be hard to accept that you can't do everything by yourself. It's tempting to think that you can take on every role and do every task yourself. However, this mentality holds many people back from achieving their potential in entrepreneurship. Finding people with complementary skills will help you save time and focus on your goals. As an entrepreneur, you will need to wear many hats, and a lot of times, there will be someone with more knowledge to support you in specific tasks.

4) Not knowing what is to come is a blessing in disguise?

If I knew how hard it would be to move to the US, I'd maybe not come. Two years ago, if you told me how much effort would take to build Globalfy banking, I'd maybe lose the timing by over-planing. Not knowing what is to come gives the courage entrepreneurs need to work towards their dreams. Being a little naive allowed me to focus on building my business instead of worrying about all the problems ahead of me.?

5) You can create a strong culture with partners and teammates from different cultures

One of the greatest things about creating an international company is how different we are and how much we all bring to the table in terms of knowledge, perspective, and experience. Working with people from all over the world means that everyone has different opinions and ideas, and when you bring all those different perspectives together, it helps spark new ideas. This creates a business culture in which team members can express themselves freely and problems can be analyzed from different points of view.

6) The importance of a safety net

I believe I was only able to start and keep moving because I knew that if I needed anything, I could always count on my wife, parents, relatives, and some friends. Knowing that you will not be hungry or unhoused, gives you the power to take risks. It's important to be able to recover from the inevitable rough patches that come with being an entrepreneur. If you don't have a safety net or don't feel the need for one, you can always provide that safety for someone else that may need it.

7) Everyone can be global, not just big companies

I didn't really learn this, just confirmed my theory! Our business has always focused on democratizing the global market for entrepreneurs outside the US. I'm so glad that every day we witness how companies from all over the world can be successful in a global market.?

Helping thousands of entrepreneurs from all over the world take their businesses to America has been a great – and crazy – experience. Thank you for letting me be part of your journey, and thank you for being part of mine!