Our CEO (Eng. Christian Cedolin) and project manager (Arch. Javier Delgado) talking about enterpreneurship at Eurobuilding Caracas.

Last week our CEO and our project manager were at the Eurobuilding Caracas in an open forum talking about entrepreneurships, the beginnings of the company, the story behind it, our products and the different business models that are possible with a CNC machine.

Is not a secret that since 2010, due to the populist laws and politics that the government has, the economy in the country begun his drop, the game changed, with the increase in production costs in one hand and the rise of inflation in the other, being an entrepreneur in Venezuela became something like a far dream.

But here we are since 2012 some friends with a dream founded Logix CNC and since then, we are designing and manufacturing CNC machines (not only plasma tables) for the national market, helping others to realize their dreams with our technology now in 2017 we begun with the overseas market, trying to export our technology and making known the value of Venezuelan manufacturing.

Some useful tips that our team gave to the participants in the forum to make a successful business in Venezuela were:

1.- Alwas study your market: is extremely important that you begin your entrepreneurship with the most accurate information about your market, things like economic, social, legal and any other aspect that is relevant. The more you know, the easier it will be to design a business model.

2.- Take your time with the business plan: the business plan is one of the most important things that you have to do, take all the time you need to make this, why? Well because it will be your guide for running your business, formaking thebusiness plan you have to answer the following questions:

Who are your key partners?

What kind of resources do you need and where to get them?

What’s your value proposal?

What kind of channels you will use to reach your clients?

What’s the market segment that you are planning to satisfy?

What are the operational costs?

3.- Surround yourself with people with the same objectives: for an entrepreneur this is something important, because they will help you to create your own bubble, a bubble where to think apart of the common problems and share ideas. The more people is aligned with your idea, more probabilities of success you will have, don’t have fear of asking help to some friends, specially at beginnings, nobody reach success without help.

4.- Always keep an eye on the budget: sometimes, when we are starting our business we want to star big and in some occasions we invest our resources in something that isn’t really necessary, in poor words, keep track of the expenses and cut off the unnecessary costs.

5.- Invest in technology: doesn’t care the kind of business you have, investing in technology is always a good option, for example if you want to work with metal signs, you can do a metal sign by hand, and let’s said that you spend 2 or 3 hours making it by hand (depending on the size it could be much more time), investing in a small CNC plasma table for your shop will increase your productivity by using less time and effort making the sign in minutes instead of hours, translating in more revenue for the same time, with a better finish.

6.- Get feedback from your clients: always try to get feedback from your clients, they are the best to ask about what they like and what they think need to be improved on your product, remember that they have bought your product, so use that feed understand your clients and adapt your product.

7.- keep studying: improve your knowledge every time you can, remember that information is power.

We hope that these tips will be helpful for you too, please let us know what you think;).