Q & A with Alexandra Arrivillaga

Alexandra Arrivillaga is a successful entrepreneur and businesswoman. She is no stranger to hard work having created a number of companies, including Owl Management Consulting and Lock It Up, LLC. Business ownership was all around Alexandra during her childhood, so it was no surprise that she followed in her family’s entrepreneurial footsteps. Alexandra’s family also stressed the importance of getting an education. The desire to learn led Alexandra to earn a Bachelor’s of Science in Business Management from Lesley College, a Master’s in Management from Cambridge University and a PhD in Business in Organizational Behavior at North Central University. Alexandra’s pursuit of higher education and sharp business acumen has helped her to build successful companies. Ms. Arrivillaga’s newest endeavor is LatinTouch Agency, which focuses on strategy and diversity consulting to ensure Latinos are positively represented in all businesses.

 

Here, Alexandra answers several questions pertaining to her business career and her personal interests.

 

What’s the most important thing we should know about you?

 Success means making meaningful work that promotes inclusivity and community.

 

Name the most impactful lesson you learned from failure.

To keep pushing forward.

 

What accomplishment are you most proud of?

The integrity and passion I have for volunteering to help people in my community.

 

What did you waste the most time on when you were first starting your career?

 Trying to fit the status quo when I am an innovative person.

 

Name a tool you use for work that you can’t live without.

 Coffee! 

 

What is your favorite hobby and why?

Salsa dancing because I love rhythm and self expression. 

 

What excites you the most about your industry right now?

The progressive and innovative changes in it. 

 

What concerns you most about your industry right now?

Latinos need to catch up with the latest technologies.

 

What’s the greatest risk you’ve ever taken?

I am an entrepreneur, so everything I do is risky. 

 

Name one small habit that positively impacts your productivity.

I look for change and I embrace it.  

 

What tip(s) do you have for getting a seat at the table?

Walk and talk like you deserve to be at the table — because you do.

 

What book has made the biggest impact on your life?

Proverbs in the Bible 

 

Do you value intelligence or common sense more? Why?

A balance of both is needed because everything in life needs balance. 

 

What would you consider to be the perfect day?

Coffee, positive vibes, meditation, a morning workout and an innovative, progressive day!

The Top Ten Latin American Companies & Why They Matter

 

The Top Ten Latin American Companies & Why They Matter

With booming tech scenes in major population centers like Mexico City and Sao Paulo, Brazil, it has been so secret in recent years that Latin America currently has one of the hottest start-up markets in the world. Here are just a few of the best companies operating out of the region, and why investors will be hearing a lot more about Latin companies in the decade to come.

 

  1. Apli

Based out of Mexico City, Apli is currently revolutionizing the Latin food industry by connecting workers with in-demand restaurant jobs. Apli has almost singlehandedly revitalized what many investors once saw as a stalled industry, and the company’s future looks very bright indeed.

 

  1. Rappi

Based out of Colombia and currently developing operations in a host of different countries, Rappi is changing the way that online deliveries are made in Latin America.

 

  1. Movile

As one of Brazil’s leading start-ups, Movile is providing a variety of services to Latin American nations; the company currently handles everything from food delivery to online radio.

 

  1. Grow Mobility

Another Brazil-based start-up with enormous potential, Grow Mobility’s founders took advantage of the poor transportation service operations in their home town of Sao Paulo to launch one of the most successful micro-transport companies in the world.

 

  1. Selina

Much like its direct competitor Airbnb, Selina is currently taking the user-based vacation rental market by storm in South America. Based out of Panama, the company is now worth nearly $1 billion and is growing rapidly.

 

  1. Ecoandino

Founded in Peru, Ecoandino aims to revolutionize the Latin American superfood movement with its healthy offerings; the company is also notable for its commitment to sustainability.

 

  1. PagSeguro

Another of Brazil’s most promising new companies, PagSeguro makes online payments simple and straightforward for its 12 million customers. In Sao Paulo’s thriving and competitive start-up market, PagSeguro is currently one of the best companies for investors to keep an eye on.

 

  1. Magazine Luiza

Like Ikea, Magazine Luiza is hoping to win over upwardly-mobile market demographics with great deals on stylish home furnishings. Another Sao Paulo-based company that is a favorite with investors, Magazine Luiza appears to be taking the Latin American market by storm, and its holdings of close to 800 stores is a testament to the company’s remarkable popularity with the public.

 

  1. Cliengo

As one of Argentina’s most promising start-ups, Cliengo is a client-services company unlike any other currently operating in South America. By connecting small businesses with clients via AI chat applications, the company has wowed investors with its commitment to using futuristic tech to serve a growing customer base.

 

  1. Nubank

By offering a pragmatic and cost-effective alternative to Brazil’s high interest credit card industry and limited financial system, Nubank has disrupted the personal banking world in Latin America in a very big way. Indeed, the company is now regarded as one of the most promising start-ups in the region.

The Rise of Cryptocurrencies: Top Three Alternatives to Bitcoin

Since the creation of Bitcoin, the concept of a digital currency (cryptocurrency) has taken root around the world. It is slowly being accepted not just by merchants, but by many countries in that they are creating regulations for it. Bitcoin is still the most popular cryptocurrency, but there are alternatives (or altcoins) that are gaining attention. In the crypto space, there are over 1,600 cryptocurrencies in use. There are many entrepreneurs that want to be part of this currency “revolution” by creating their own coins as well as minting them. It is important to note that cryptocurrencies are decentralized, meaning they are not controlled by a government (e.g. U.S. Dollar). Also, their value is volatile for a number of reasons, such as a small market, price is set by supply and demand, and the blockchain technology is new. Yet, it is an exciting time to invest in and use cryptocurrencies, and there is more variety in terms of coins. Let’s take a look at the top three alternatives to Bitcoin. 

 

  1. Ripple – It has a dual function of being a cryptocurrency (XRP) and a platform. The platform is an open-source protocol, which makes international transactions are faster and cheaper. In fact, the transaction fee is $0.00001. The reason for the incredibly low fee is to prevent DDos attacks. For convenience, people can make payments in any currency (e.g. Bitcoin). Ripple has RippleNet, a network of “institutional payment-providers” that enable payments to be made in real time. Also, Ripple uses a consensus ledger (RPCA), which does not utilize the blockchain technology. Verification is done through the nodes, meaning that if all of the nodes are in agreement then the transaction goes through. 
  2. Monero – It’s known as the “private” cryptocurrency. Transactions are untraceable through ring signatures and stealth addresses, which hide transaction details, such as amounts and payment destinations. They cannot be linked to a “real-world user” or to a previous transaction due to the Monero blockchain. Since it is private by default, units cannot be blacklisted by vendors or exchanges. However, Monero is the currency of choice for those on the dark web due to its untraceability. 
  3. Litecoin – Litecoin uses an open-source global payment network (decentralized) for faster transactions and can handle a higher transaction volume than Bitcoin on its blockchain. It uses mathematics to secure the network and gives users more control over their account. Litecoin offers the security of wallet encryption that allows users to view their account balance and transactions, but must provide a password to spend their coins. There is a sanity check before sending payments for added protection. Plus, miners receive a reward of 25 Litecoins per block. Its cap is 84 million, which is four times greater than Bitcoin’s cap. 

 

There many more altcoins, each with their own strengths. I am sure there will be more created on the horizon as cryptocurrency becomes more regulated and more merchants accept them. It will be interesting to see what is purchased with cryptocurrency as it becomes mainstreamed like fiat currencies.

Effective Resources to Help Strengthen your Family’s Finances

Growing up in my community, we didn’t talk about finances. The husband went to work and brought home the paycheck. The wife took care of the household and was given an allowance for household necessities. Talking about money and saving for the future weren’t spoken about and bringing them up resulted in an argument. Times have changed and speaking about finances is encouraged in families, even with young children. High schools teach Economics (or Student Finances) to help students understand the basics of running a business as well as accounting (e.g. budgeting). There are numerous books on finances, especially those to help families be smart with their money. The books below offer great tips and plans to get families started (or continue) on a bright financial path. 

 

  1. Rich Kid Smart Kid: Giving Your Child a Financial Head Start — This book is from the author who wrote Rich Dad Poor Dad, Robert Kiyosaki. He continues to educate people about finances (e.g. financial literacy) and now focuses on teaching parents how to give their children a financial head start. It provides the practical guidance needed to teach children to be financially responsible. The foundation of the book is education – learning about personal and financial success in today’s world. Kiyosaki points out that we are now in the Information Age, which is drastically different from the Industrial Age. Children have different obstacles than their parents and must learn to navigate them, and it starts with smart money management. 
  2. Family Budget Book: Gaining Control of Your Personal Finances — This is geared for families to help them gain control of their finances. This book offers “real world” advice and worksheets to help you apply what you have learned and to make it a habit. You’ll learn to address unexpected costs and to plan for future goals (e.g. a vacation). Also, you’ll uncover where your money goes when creating a budget — one that’s easy to manage and stick to! 
  3. The Opposite of Spoiled: Raising Kids Who Are Grounded, Generous, and Smart About MoneyI choose this book not only for its title but also for the great advice it gives parents on talking to their children about money. The author shares his experiences with finances and those of families of various backgrounds to illustrate the importance of money management. Parents should talk to their kids about money, even answering the difficult questions about its nuances. This book will help parents to raise grounded kids who are financially smart. 

A Condensed History of Bitcoin & Cryptocurrency

Cryptocurrency is different from other kinds of legal tender in that cryptocurrency like Bitcoin isn’t regulated by any kind of federal reserve. Instead, cryptocurrency is a type of digital currency that is generated by encryption techniques, which are used to regulate the generation of new units of the cryptocurrency in question.

 

Encryption ensures that funds are accurately transferred without the need for interference from a central bank. The fact that cryptocurrency is decentralized is also seen as a tremendous asset to enthusiasts from around the world.

 

Bitcoin: The First Cryptocurrency

 

The supposed founder of Bitcoin, Satoshi Nakamoto, is a man shrouded in mystery. What is known about the creation of Bitcoin is that the first cryptocurrency came into being in late 2008 with the publication of a landmark paper by Satoshi entitled, “Bitcoin: A Peer-to-peer Electronic Cash System.”

 

In that paper, Satoshi outlined the ways in which Bitcoin would utilize the blockchain, a record keeping system for cryptocurrency transactions, in order to keep the nascent currency up and running. The first block of the blockchain wasn’t “mined” until early 2009 when Satoshi himself mined the aptly named Genesis Block.

 

A Year After Bitcoin, Rivals Appear

 

If you had purchased $1,000 of Bitcoin around the time that the Genesis Block was mined, you would have about $45,000,000 today.

 

Though that’s an impressive number, Bitcoin spurred a number of rivals that may have hampered its own success. Rivals to Bitcoin, sometimes known as altcoin, cropped up almost immediately after Bitcoin’s creation in 2008.

 

A few years after Bitcoin, rivals were purportedly offering altcoins with greater levels of anonymity, a key concern for those trafficking in altcoin, and faster transaction speeds. The Litecoin and Namecoin were early cryptocurrency rivals to Bitcoin.

 

Bitcoin Crashes Before Recovering

 

Bitcoin is today valued at around $9,500 per coin. It wasn’t always this rosy a picture. In 2013, Bitcoin had real problems. The price of Bitcoin dropped well below $1,000 for the first time, and eventually the price of Bitcoin would reach its all-time nadir of around $300 per coin.

 

Later in 2013, the value of Bitcoin would once again rise above $1,000. Four years later, Bitcoin would surpass the $10,000 mark for the first time. 

 

Bitcoin is the first cryptocurrency, which opened the door to other cryptocurrencies. As the world begins to accept cryptocurrency as a legal form of payment, it will be interesting to see how it will be regulated. 

Understanding Risk Management

Everything we do involves a degree of risk, but, without taking on those risks, we would never achieve anything. This is where risk management comes in. It’s a process of analyzing a situation to determine the risks of taking on a particular project. In some cases, those risks may be minimized, so the chances of success are made more likely. This process of managing risks helps us to move forward more efficiently, so we can evolve as a society.

A Deeper Look at Risk Management

The larger the project you’re undertaking, the more in-depth your risk analysis must be. For instance, a corporation taking on a new project will have to look into how the risks will affect the entire organization. A failure may affect every department within the organization, so it’s important to understand and prepare for these risks. ERM, or enterprise risk management, is a system that analyzes the risks for every department within the organization. This type of risk management process will even explore what risks the organization’s outlets will face.

In doing their jobs, risk management professionals must also determine ways for minimizing risks. This may involve recommending more insurance for the business, which will allow the business to continue operating. Risk managers may also have to consider how the health and safety of the business’ employees will be affected by the venture. Everything from ensuring the continued management of the company to addressing the possible financial fallout must be considered.

Businesses aren’t left to try to analyze these risks on their own. Today, there are many organizations that create and publish risk management standards. These companies will come out to audit your business or help you analyze how a proposed project will affect your company. These standards are often followed uniformly by many businesses within a given industry to ensure every company is following similar guidelines. This helps keep risks somewhat level among every business, which may make the playing field more even. Adhering to a set list of standards helps organizations better understand the risks of operating in a highly competitive environment.

While every endeavor includes some degree of risk, it’s important to separate good risk from unnecessary risk. This process of analysis can help you achieve success more often by limiting your exposure to bad risk. Regardless of what type of project you’re pursuing, thorough risk management can help you develop a more successful strategy.

3 Ways Entrepreneurs Can Lower their Stress Levels

 

 

Being an entrepreneur can be extremely stressful. Just like everyone else, entrepreneurs still have bills to pay and in some cases even a family to support. As their business grows, more and more people become dependent on them for their livelihood as well. This can place an incredible amount of pressure on entrepreneurs. The higher your stress rises, however, the less capable you are of making calm, rational decisions which can actually jeopardize your business. For both business and health reasons, it is important to keep stress levels in check. Here are three ways entrepreneurs can lower their stress levels.

 

  1. Unplug

 

It is vitally important for entrepreneurs to take some time every day and every week to simply let the world run without them for a while. While this can in and of itself be stressful for an entrepreneur, it is important. If you don’t, you will eventually burn out. Vacation is also critical, so don’t put it off “until you get your business up and running.” Without taking time for self-care, you won’t make it that far.

 

  1. Delegate

 

For an entrepreneur, delegation is similar to a new parent hiring a babysitter. It is just as nerve-wracking and just as important. While your business may be “your baby” it’s going to take a village to make it a viable proposition – just like raising a child.

 

  1. Take good care of your health

 

Exercise, eating a healthy diet and getting a good night’s sleep might be some of the hardest challenges for busy entrepreneurs, but they are also the most important. Building a business is a marathon, not a sprint. If you put managing your own health on a back burner while you are building your business, there is a good chance you won’t be around to enjoy it once it is viable – if it ever even makes it that far. In addition, all three of these activities work together to help you reduce stress. 30 minutes of brisk exercise can help burn off adrenaline and even help you get a better night’s sleep. A good, healthy diet can give you energy to make it through the long days and even get a good workout in at the end.

Understanding the Latest Passport Changes

Passports are a requirement for international and domestic travel. Increased threshold of threats to security, especially terrorism, are prompting most countries across the globe to revolutionize their passport regulations and requirements. The US and other European countries have been on the forefront as far as the introduction of the new passport changes and requirements are concerned. Here is an overview of what has changed or is expected to change in the near future regarding how you apply and use your passport.

 

  1. Passport Makeovers

 

To enhance the speed of processing of passengers in airports, passports are being incorporated with microchips designed to hold passengers’ data. The machine-readable microchip will make it possible for instant changes to be affected across all airports and countries. For instance, the microchip can be instantly updated across all airports, thereby affecting travel restrictions more effectively at the touch of a button.

 

  1. Improved Security Features

 

To make passports more tamper-proof, new security features are expected to be incorporated in order to decrease the prospects of criminals defrauding customs agencies and personnel. The data chip will be virtually impossible to replicate, thereby eliminating prospects of forgery and other forms of malicious tampering.

 

  1. Strict Application Rules

 

In order to curb the increased threat to national security, governments, led by the United States, have revised rules and regulations for applying for passports. For instance, if a passport photograph does not meet a certain requirement of clarity and size, the application will be turned down. Other aspects include the restriction on the use of eyeglasses on passport photographs and the requirement to produce proof of US citizenship, including birth certificates among other requirements which make the application process watertight.

 

  1. Passport Renewal Regulations

 

Governments across the globe have enforced a 6-month validity rule requiring all passport holders to have their passports’ expiry date not less than 6 months from the time of entry to a country. This implies that you will have to renew your passport way in advance before the 6 months travel restriction period. Individuals having passports expiring within 6 months will be denied entry. The entire passport renewal process has been made much simpler in most countries as one can renew online at the click of a button.

Top Three Franchises for 2019

When you think of a franchise, you think of food — Dunkin Donuts and McDonalds. Both of these companies have strong brands and bring in a great deal of money. We even see ads looking for people to become franchisees. What exactly is a franchise? And why do people buy into them? When you (the franchisee) buy a part of a business from the owner (franchisor), you are getting the rights to sell the company’s products and/or services as well as use its brand, processes, business model and equipment. Although you pay the franchisor an initial fee and royalties pertaining to the business, you do get support and use of the trademark. It’s important to note that the franchisor retains the license to the business whereas the franchisee can only use it. The franchisor grows his business through the franchises. It is not the same as growing a business by increasing its locations (e.g. Starbucks).

People are quick to buy a franchise because they are essentially cash cows. They also want to learn how to manage a business. That said, let’s take a look at some franchises that will be popular this year.

  1. McDonald’s — This will always be a popular franchise. The company started out as a small hamburger shop and became a multi-million dollar corporation. Brothers Maurice (Mac) and Richard McDonald opened their restaurant in 1948 in San Bernardino, California. Restaurant equipment salesman Ray Kroc saw how the brothers sold their food cheaply with a self-serve counter and came up with the idea of franchising the restaurant. The first franchise opened in 1954 in Des Plaines, Illinois. McDonalds continues to grow based on its brand, quality of food and reinvention (e.g. renovated restaurants).
  2. Dunkin Donuts — The fast food chain is now called Dunkin (or DD). The franchise decided last year to drop the “Donuts” and focus on beverages. Like McDonalds, the chain has grown due to its brand, products and convenience. It was started by William Rosenberg in 1948 and was originally called Open Kettle. The mission was to sell donuts and coffee quickly. However, after meeting with consultants, it was changed to “make and serve the freshest, most delicious coffee and donuts quickly and courteously in modern, well-merchandised stores.” The name was changed to Dunkin Donuts in 1950 and the first franchise opened in 1955. The mission holds true today with numerous franchises across the nation.
  3. The UPS Store — Originally called Mail Boxes Etc., this postal services company grew and embraced technology. It created the “business services category” with its digital capabilities for small businesses. In 2001, UPS acquired Mail Boxes Etc. and became the world’s “largest franchisor of retail shipping, postal, printing, and business services centers.” In 2003, the UPS Store Brand was introduced. In 2012, the Mail Boxes Etc. was absorbed into the UPS Store. Last year, the UPS Store was ranked #1 by Entrepreneur Magazine’s annual “Franchise 500.” There is no doubt this franchise will continue to be popular.