Over the last few weeks, we’ve celebrated Hispanic Heritage Month by spotlighting four Latinx entrepreneurs who have built businesses rooted in Hispanic culture and traditions. The #LatinxCulturepreneur series was designed to provide a greater understanding and appreciation for Hispanic culture — and its many passion points, such as family, food, and art — by showing the critical role that Hispanic culture has played in the success of each of our selected entrepreneurs’ businesses. While we encourage all of our readers to head over to our Instagram page to hear each of our #LatinxCulturepreneurs share their personal journeys themselves, we’ve recapped each of them below, highlighting their advice to those considering embarking on their own entrepreneurship path.
Susie Jaramillo is a New York-based Venezuelan-American, and the president and chief creative officer of Encantos Media Studios. Her business is a family-owned, kids-focused media company that designs, develops, and distributes animated bilingual films, mobile apps, books, toys, and other play experiences. Her products are not only created for Hispanic communities, but also for Americans who understand the importance of exposing their children to a second language and other cultures. Her key advice to entrepreneurs:
- Choose partners carefully and choose the people you believe in. Pick business partners who align with your values, who complement your skill set, and who are willing to put in the work.
- Plan every single day but expect the unexpected. Plan for Murphy’s Law because Murphy’s Law happens. That way you’ll have solutions for any problems that arise.
- Get ahead of cashflow issues early. Know what’s coming your way and what’s not. Plan accordingly and be a creative problem-solver.
- Your network is your capital. Take care of people, they matter more than their titles or their job at any given moment.
- Don’t fear failure. This is a luxury that entrepreneurs cannot afford. Do what needs to get done and don’t be afraid to fail a few times along the way.
Kathy Cano-Murillo is a Mexican-American author, artista, and founder of Crafty Chica, a creative, motivational, and lifestyle site offering hundreds of tutorials, recipes, and crafts. Kathy noticed a lack of Latinx representation in the billion-dollar crafting industry, and so she started to create and sell her own Hispanic-inspired crafts and books. Her key advice to entrepreneurs:
- Identify your end goal and work backward to achieve it. Plan and strategize while visualizing your goals.
- Invest in yourself and your education. Spend time learning from people around you that can contribute to your ideas.
- Identify “what” you want and “why” you want it. Ask critical questions to see if your passion is also a business opportunity. These questions will help you understand if you are ready to level up a hobby into a business.
- Invest time and money in your business. Even though things don’t always work out, you will succeed if you keep working at it.
- Ask questions. Don’t be afraid to use social media as a tool to find a happy medium between what people demand and what your business will offer.
- Pay attention to every dollar that comes in and out. The key to achieving manageable cashflows is to avoid a scarcity mindset.
- Don’t waste time. Waiting for perfection is a mistake, find your “secret sauce” and put it into action. “Becoming an entrepreneur might require some time until you find your secret formula, just get through that fear and plan for success.”
Luis Aguilar, originally from Mexico, is the co-founder of the largest Latinx pop-up in the country, Molcajete Dominguero, a monthly event that provides a space for Latinx vendors to showcase and sell unique items. After only two years, Molcajete Dominguero has grown to include over 100 artists from different parts of the U.S. participating in the pop-up each month. These events provide families with the opportunity to spend time together and learn more about their heritage through artisanal pieces that reflect traditions of their home country. His key advice to entrepreneurs:
- Do not be afraid to fail. Failure helps you learn and grow. The biggest failure is not trying because that only leaves you with “what if.”
- Focus on finances. Take time to establish a financial strategy that suits you best.
- Word of mouth is important. Social media can be a key ally and can help you tap into community support to grow your business
- Treat everybody with respect. Your community is the engine of your business, make them feel valued.
Stephanie Jaramillo is a Colombian chef, entrepreneur, and founder of La Tropi Kitchen, a Caribbean-inspired catering service based in Brooklyn, NY. When Stephanie moved to New York, she used food as a cure for nostalgia, hosting events at her house offering traditional dishes like sancocho (stew) and tamales. What started as a recreational hobby transformed into a successful catering business that can be found at one of Brooklyn’s most popular open-air food markets: Smorgasburg. Her key advice to entrepreneurs:
- Stay confident. Being afraid is part of your personal growth, so you must believe in yourself and your ideas.
- Believe in the process. Understand that everything takes time and discipline.
- Be organized. Identify your costs carefully from the beginning to have control of your finances and avoid overspending.
- Pursue your passion. An idea can be great, but if you don’t love what you do, you won’t succeed.
- Find comfort in family and friends. They are the ones who are going to help you get through the fear and will support you in your journey.
Intuit customers like Susie, Kathy, Luis, and Stephanie rely on key tools to grow their business, stay on track with their finances, and file taxes. If you are an entrepreneur or self-employed, don’t forget to check out our Intuit products that can help you achieve your financial goals:
- TurboTax Self-Employed helps you easily uncover tax deductions specific to your industry. If you have questions as you are filing your taxes or around estimated taxes during the year, you can connect live via one-way video to a TurboTax Live Self-Employed CPA or Enrolled Agent to get the answers you need in English or Spanish.
- QuickBooks Self-Employed easily helps you track your income, expenses, mileage, and capture receipts with a snap of a picture year-round, and then transfer your business information to your TurboTax Self-Employed tax return making tax-time a breeze.
- Mint provides users with a more complete picture of their financial life – from what they earn to what they spend, owe and save – to help alleviate the daily stress associated with managing their financial life.