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While the times of Henry Ford may be over, the principles of being a successful entrepreneur have not died—not completely, anyway. As CEO of Sun Holdings—the fastest-growing and largest Hispanic-owned company in the Dallas/Fort Worth area—Guillermo Perales shows that today’s entrepreneur has a lot in common with America’s long history of business professionals. Even in today’s information-driven, online world, Guillermo Perales has shown that today’s entrepreneur must be ready to adapt to a business environment that shifts very rapidly. This article discusses some of the characteristics of the modern, US entrepreneur—all lessons learned from Guillermo Perales, who operates 33 Golden Corrals, 46 Cici’s Restaurants, 3 Krispy Kreme and 167 Burger Kings! Pick the right line of work. The business world learned a lot from the boom and bust of the .com industry: the classics still work. Guillermo Perales, for example, is a restaurant franchisee. Sun Holdings, his company, has franchised almost 400 restaurants, and has maintained a growth rate of over 50 percent since its founding in 1997. Something as classically American as the restaurant business shows that the future of the entrepreneurial spirit does not have to be online. As Franchise Times awarded him the 2013 Franchise Dealmaker of the Year, you can rest assured Guillermo Perales' business advice is sound! Limit potential losses before you start. This principle works just as well for all business decisions and development practices as it does for being an entrepreneur. Seasoned entrepreneurs like Guillermo Perales, however, have learned that starting any new business or franchise is about never paying more than what you can expect in return and/or can lose. “Acceptable loss” is the term most commonly used. Recently, Guillermo Perales has diversified his portfolio by acquiring 52 Arby's restaurants - rest assured that he did plenty of risk management before taking on such a feat. Find support. Guillermo Perales knows that entrepreneurs never work alone, and some of the best business leaders do not make it far without financial support. By pitching your idea to potential investors—in a PowerPoint, by creating a dynamic website, or offering a professionally written business proposal—you’re creating a solid investment. Guillermo Perales has been recognized by the International Hispanic Franchisee Association and Ernst and Young; he has also been the recipient of the 2013 American Dream Award. Can't get that far without support! Get the word out. Guillermo Perales would advise that this be a kind of catch-all category, where getting the word out includes selling your new project or product, networking with other entrepreneurs and investors, and by making what you do important to your community. Entrepreneurs only become known as such when what they love to do, or when the new venture they are developing, takes off. By networking, an entrepreneur shows dedication and belief in their investments—something that is highly contagious in investors. As Guillermo Perales operates 33 Golden Corrals, 46 Cici’s Restaurants, 3 Krispy Kreme and 167 Burger Kings, he knows how to garner support and get the word out. By following some of the principles learned and modeled by one of the most famous Hispanic entrepreneurs in the US (Dallas Business Journal named Sun Holdings number one of the Top 25 North Texas Minority-Owned Businesses at the beginning of 2013!), it is clear that in Guillermo Perales, the spirit of the modern American entrepreneur can be clearly seen. Sources: http://www.entrepreneur.com/article/207488
http://www.forbes.com/sites/actiontrumpseverything/2013/02/20/becoming-an-entrepreneur-is-less-scary-than-you-think-a-case-study/
http://www.wikihow.com/Become-an-Entrepreneur
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