Know the keys that will help you expand your business

Latin America is a region of entrepreneurs, with innovative brands that have made it an attractive market for investment and international projection. According to the Endeavor and Gisco Partners report; Last year, emerging companies or “startups” raised $8.1 billion in venture capital, with Mexico, Brazil and Colombia being the three countries that received 90% of the investment.

However, many business ideas are maintained as a venture and do not advance in their expansion project due to the multiple obstacles involved in undertaking. For Simetrik, the growth and internationalization of its solution has been a clear objective. The software company focused on the automation of business financial control has managed to reach new markets and audiences.

Founded in 2019, Simetrik began as a Colombian venture developed by Alejandro Casas, CEO, and Santiago Gómez, COO, which today reconciles more than 170 million daily transactions in 29 countries. Its mission is to empower FinOps teams through financial control automation software that, thanks to its no-code technology and Big Data management, becomes a single source of truth for companies, providing them with better visibility. , full control and higher levels of automation.

“Simetrik is a company that was born and strengthened thanks to the support among entrepreneurs, for this reason our intention is to continue supporting this network and motivate the creation of new ideas that will become the great companies of the future. In addition, we are proud that today our solution is being used by other leading startups in the market to improve their processes and financial control, in addition to contributing with a good product”commented Santiago Gómez, Simetrik’s COO.

For this reason, within the framework of World Entrepreneurship Day, Santiago Gómez, Business Administrator, Co-Founder and COO of Simetrik shares 4 entrepreneurship tips that led him to success and that can contribute to the growth and expansion of local entrepreneurs:

1. Create connections with potential allies:

When a company is starting up, it is key to have other companies in the sector as strategic allies to boost business growth and development. The best way to do this is to offer help without expecting anything in return. An important scenario is entrepreneurship networks that allow entrepreneurs to meet other companies with which to ally and solve problems together, not as a barter, but rather as collaborators.

For Santiago this point is one of the most important “when we started we presented Simón Borrero de Rappi with the Simetrik solution and he offered us to create a prototype for the company. This was a very important step in our history as an entrepreneurship and demonstrates that support among entrepreneurs that seeks to promote the creation of more companies and the strengthening of an entrepreneurial ecosystem in the country.

Today, 4 years later, Simetrik not only continues to work with Rappi, but also has clients from other companies that are part of this entrepreneurial ecosystem such as Addi, Bold, Puntored, among others.”

2. Bet on the organizational culture from the moment 0

From the beginning of the company as a venture, it is important to guide the behavior and way of working of the team, create a culture that allows us to define positions, functions, work times and teamwork dynamics.
The organizational culture must be constantly evolving as the business grows, since it is key to ensuring the growth and scalability of companies, since at some point the functions must be relegated to other people who can be responsible for the processes.

3. Strategic investors in business and markets

One of the keys when starting a business is having support networks, therefore it is important for growth to have investors who can contribute from market knowledge or from financial investment.

to. Business: Having investors who know the challenges of undertaking (people who previously worked in ventures) allows to know other experiences, knowledge and insights that will save time and money in the development of the growth plan.

b. Market: Financial investment is important for the growth of a venture, however, the role of investment partners in the relationship must also be taken into account. They also bring contacts, relationships, allies in the market, and even potential customers.

4. Choose a partner and a sector in which to undertake

Undertaking is not an easy path and requires effort and sacrifice, which is why choosing your ally to undertake well can influence decision-making in difficult times. In addition, having the passion to solve a specific problem with your product or service will help the team have a clear direction to continue evolving the venture.