Empanada Empire: Pilar Guzmán's Journey & Partnership Tips | Wealth Wednesday

Latin Wealth

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. Follow us on IG: @latinwealth Email for questions or inquiries: [e-mail]