Advice to future entrepreneurs and young professionals in emerging markets and elsewhere (post NOT written by AI but out of decades long observation, self trial & error and personal maturing):
Often I get asked on bits of advice for young entrepreneurs, professionals and investors. I reflected on the single best advice I could give in the myriad of books/pundits/youtube words of wisdom, AI guides and others out there. This is to keep and foster your personal reputation. It will be your most powerful asset – hard to build, easy to lose but invaluable when stellar. This advice is also globally applicable but with specific focus on low trust societies in emerging markets such as Latin America and parts of Asia.
Many times as a young and aspiring individual one is tempted to cut corners, overpower another negotiation partner or simply do things half-right with people with whom one is paired with along one’s professional journey. All with the apparent reward of a little monetary or seemingly career advantage. That does not necessarily mean effectively cheating or committing an outright fraud/crime but aiming to tweak things in one’s favour more than a moral compass would find in balance.
It will eventually fall back on you and where trust is broken once and reputation destroyed, it is difficult to build it up again. It is not easy as a young and energetic person in a short term, instant reward minded environment to free oneself from the pressures of societies and peers but it is the right path to follow.
In emerging markets paradoxically sometimes you do not have to even have the best and most technologically advanced solution to offer but if your reputation and the people who speak well of you are impeccable, this alone can open sufficient doors to build a meaningful businesses or to pursue a corporate career where you do not have to be the smartest and brightest but the most reliable and well respected.