Building a solid team is not just a priority: it is a matter of survival for any company that wants to climb. Even more when the regional context changes at high speed and the entrepreneurial environment becomes increasingly competitive.
According to report 2024/2025 Global Report: Entrepreneurship reality checkprepared by the Global Entreneurship Monitor (GEM), Latin America and the Caribbean historically maintained high rates of early entrepreneurial activity (TEA).
However, regions such as North America and Gulf States are significantly increasing their levels, which implies new challenges and greater pressure for Latin American ventures.
One of the biggest challenges indicated by the study are Business Framework Conditions (EFCS), evaluated mixed – and in many cases below the level considered sufficient – by national experts in the region. This reflects a weak institutional environment and an still fragile support infrastructure for early companies, which forces to redouble efforts in the construction of resilient and adaptable equipment.
In this context, there are three essentials to form a high performance team: talent, passion and purpose.
First, talent. The region has a population base that firmly believes in its abilities. According to the GEM report, a very high percentage of adults considers having the necessary knowledge, skills and experience to undertake: 83.9% in Ecuador, 79.3% in Guatemala, 74.8% in Argentina, 69.9% in Chile, 68.6% in Uruguay, 66.6% in Mexico, inter alia.
This self -confidence is a valuable capital, but must be channeled with criteria. Building talented equipment is not just to gather technical skills -such as those demanded today by the Fintech, technological or data-, but also to identify and enhance that entrepreneurial attitude that is already present.
However, talent is not everything. There is a second engine that differentiates teams capable of holding over time: Passion and purpose. In Latin America, these factors are far from being accessories.
The GEM report shows that a large proportion of initial stage entrepreneurs is motivated by “making a difference in the world.” The motivation to build wealth or high income is also strong, as in Guatemala (83.9%) or in Brazil (69.3%). And live with an inescapable reality: undertake out of necessity. In countries such as Venezuela (93.6%), Ecuador (90.6%), Argentina (88%) and Mexico (81%), many undertake to make a living.
In other words, building a team aligned with the purpose implies understanding this complexity. The purpose is not an abstract concept: can arise from both the need to survive and the desire to transform. The important thing is to channel those diverse motivations towards a shared mission. When that happens, cohesion is stronger, even in adverse contexts.
The third pillar is culture. And not as a “Nice to have”, but as the cement that joins talent and purpose. Culture is expressed in how decisions are made, how it is collaborated, how the unexpected faces. It is not decreed from above: it is grown from day one and demands coherence.
After almost eight years leading Alprestamo, the first marketplace of financial products in Latin America, I can affirm that regional expansion would not have been possible without a team that combines capacity, conviction and cohesion. There is no growth strategy or innovative technology that replaces that. In fact, according to CB Insights, 23% of the startups that fail do so for not having the right equipment. That statistic is a clear reminder that without a team, there is no company to climb.
Therefore, for those who are starting – or rethinking – their entrepreneurial path, the Council is this: Look for talent, yes, but do not neglect the purpose. And make sure that culture is not an accident, but a conscious choice. In that triad, I think, there is the key to building not only a business, but an organization that leaves a footprint.
CEO and co -founder of Alprestamo.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
