The Entrepreneurial Spirit of DR: Lessons that Inspire
Jun 11, 2023When you think about the Dominican Republic (DR), stunning beaches and breathtaking landscapes might come to mind. Yet, my recent visit proved that the country is so much more than a picturesque holiday destination. DR is a vibrant hub of entrepreneurial spirit, a characteristic that continues to amaze me, and one I believe could benefit the Corporate Divergent Community.
I landed in DR for a family vacation, mainly to celebrate my daughter's fourth birthday. Little did I know, my motivation for entrepreneurship would be even higher after this 7 day vacation. I discovered that DR is full of hustlers (in a good way)– the street vendors, the 'colmados' (bodegas) being run out of homes, families tending to their aloe vera fields, and those that migrated to the USA for work, only to invest in rental properties back on the island, their 'ferreterĂas' (hardware stores), and more. The number of small businesses and solopreneurs you notice on the island is impressive.
It seems like almost everyone had a day job as well as additional income sources on the side. People are extremely creative in finding ways to make extra money, whether that comes from starting a business, manual labor, or providing a service for someone in the neighborhood. While a lot of the businesses in the Dominican Republic is traditionally marketed through word of mouth or family members promoting your goods and services, more and more people are beginning to take advantage of the digital world by leveraging services like Google Maps and social media platforms for marketing.
By leveraging technologies that are used by more developed and well funded companies these creative entrepreneurs are able to gain some of the same advantages. For example, by listing their business using Google Maps, their potential customers can easily find them over the majority of competitors on the island that may not be using google business listings. Aside from Google, another example is that these entrepreneurs create their own social media accounts, such as on Facebook, Instagram, TikTok and Twitter, to further increase their visibility and reach a larger audience. By making use of these digital tools, these businesses improve their chances of success and gain more customers. Because they have limited funds for marketing, leveraging free social media in fun and creative ways gives them a reach and brand recognition that they otherwise wouldn't have.
In the USA, we tend to rely on corporate conglomerates for almost everything, but in DR, the mom-and-pop stores and resourceful individuals seemed to fill every nook and cranny. This system not only provides livelihoods but also distributes profits, a concept I believe is more beneficial than having concentrated wealth in the hands of a few. As these micro and small business owners generate profits, they then circulate those funds within the community to the other local businesses. These funds eventually get invested in improving homes, areas used for commercial purposes and bringing in additional investment for construction and land development.
During my trip, I encountered even more examples of entrepreneurial ventures that left a lasting impression on me. Beach vendors offered an array of products and services, from hats and floaties to food and boat rides. I came across individuals providing niche services out of their homes, such as renting helium tanks for balloons or offering custom printing for party characters and cupcakes. The versatility and ingenuity displayed by these entrepreneurs was inspiring.
I also had the pleasure of hiring a woman who balanced a full-time job with a side hustle, bringing joy to children's parties with her popcorn machine, snow cone machine, bouncy house, cotton candy machine, and games—all transported in a wagon pulled by her SUV. These examples demonstrate the resourcefulness and dedication of individuals in DR to create opportunities for themselves and their communities.
One key observation I made during my time in DR was the stark difference in the entrepreneurial mindset and approach between the Dominican Republic and more affluent societies. In the USA, starting a business can be challenging due to extensive red tape and high initial expenses. Moreover, competing against established corporations with their brand recognition and financial resources can seem daunting.
Source: BizLatinHub
However, in DR, the process of starting a business appears more accessible and less burdened by bureaucratic obstacles. There is also a cultural preference for buying local and fresh, which fosters support for local businesses and fuels the local economy.
Dominicans possess a remarkable ability to leverage their creativity, problem-solving skills, and strong networking to overcome challenges and carve out their place in the market. This resilience and adaptability are valuable lessons that the Corporate Divergent Community can learn from.
Reflecting on my trip, I realize how it has recharged my entrepreneurial energy. I'm buzzing with ideas, from exporting items for my online resell business to exploring car rentals via Turo when I return to NY. I am eager to experiment with these ideas, knowing that it's through trial and error as well as taking calculated risks that we inch closer to our goals of financial freedom and of creating a successful business venture..
The culture in DR also left a lasting impression on me. Everyone I encountered was incredibly helpful and committed to providing exceptional service. Word-of-mouth recommendations and networking play a vital role in their customer acquisition strategy. The resourcefulness and creativity displayed by Dominicans in problem-solving were inspiring, and I encourage the Corporate Divergent Community to embrace these qualities.
In more advanced economies, it's easy to feel discouraged by market saturation and competition from larger corporations. However, by adopting the Dominican spirit of quick problem-solving, we can uncover unique opportunities and solutions.
It's essential not to let red tape or the fear of failure deter us from taking that crucial first step. Start with a commitment to explore different types of businesses and strive to turn a profit, even a modest sum, such as $50. If you can find a way to produce $50 then you can focus on scaling and expanding your earnings.
My trip to the Dominican Republic re-opened my eyes to the boundless potential of entrepreneurship. The spirit of innovation, resilience, and community support I witnessed in DR has ignited a fire within me. I believe that by incorporating the lessons learned from this vibrant country, the Corporate Divergent Community can uncover new paths to success and nurture a thriving culture of entrepreneurship.
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