![Empanada Empire: Pilar Guzmán's Journey & Partnership Tips | Wealth Wednesday](https://pbcdn1.podbean.com/imglogo/image-logo/12469142/Lw_2-min_5nt98h_300x300.png)
Wednesday Jun 26, 2024
Empanada Empire: Pilar Guzmán's Journey & Partnership Tips | Wealth Wednesday
Welcome to a new weekly series we are launching on the Latin Wealth platform, Wealth Wednesday! On Wealth Wednesday, we will be discussing trending news, Latino culture and topics surrounding business, host by @chrisbelloso and @ricoramirez86. Today, we have an exciting lineup of topics to discuss, including historic political developments, health insights, and groundbreaking technological advancements.
Topics Covered:
- How to Develop Successful Partnerships
- Meet a Female Entrepreneur Bringing Empanadas to an Airport Near You
Entrepreneur Spotlight: Half Moon Empanadas Co-Founder Pilar Guzmán
- Started with one store, almost went bankrupt, and restarted with a food cart.
- Now runs an empanada empire with over 20 locations, including airports in Miami, Denver, Fort Lauderdale, Nashville, and Chicago.
- In 2023 alone, the company sold three million empanadas.
- Guzmán was featured in Inc. magazine's 2024 Female Founders 250 "most intriguing" entrepreneurs.
Challenges and Resilience:
- Initially struggled, losing money and nearly going bankrupt.
- Relocated to a kitchen in Miami and began again with a cart at the University of Miami.
- Faced an economic crisis for seven years without earning a salary.
- Guzmán attributes her resilience to her personality and determination to overcome challenges.
Developing Successful Partnerships: Step 1: Identify and Align Goals
- Clearly define your own goals and objectives.
- Research potential partners with aligned goals, values, and missions.
- Ensure mutual benefits, shared vision, and complementary skills.
Step 2: Build Trust and Communication
- Be transparent, reliable, and uphold integrity.
- Maintain regular communication and actively listen to your partner.
- Establish clear communication channels and protocols.
Step 3: Define Roles and Responsibilities
- Clearly outline roles, responsibilities, and contributions in a written agreement.
- Set expectations regarding performance, deliverables, and timelines.
- Define authority, accountability, resource allocation, conflict resolution, and key performance indicators (KPIs).
Step 4: Monitor, Evaluate, and Adapt
- Regularly track progress against defined goals and KPIs.
- Implement feedback mechanisms and conduct periodic performance reviews.
- Be flexible and willing to adapt roles, responsibilities, and strategies as needed.
- Identify opportunities to scale and expand the partnership.
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