Latinos are one of the most entrepreneurial groups in the United States yet they tend to start small "mom and pop" businesses which may at their peak have a handful of employees and provide a decent living standard for the owners. This is a far cry from being the founder of the next Facebook or Yahoo! or Amazon or General Electric.
While things won't change overnight, these Latinos that are willing to take a risk to try to build a large growth business need to avoid some common assumptions which will make an already challenging process even harder:
Assumption 1: "What matters most to investors is having a great idea"
The idea for your business is actually less important than many Latino entrepreneurs recognize. Most successful businesses look very differently than when they first started. Pricing changes; business model changes; target markets change; all of the assumptions you had going into the new venture will change as you learn the reality of the business working in it day by day. Investors know this. What they are really looking for are founders and management teams that are willing to learn, able to adapt and have the skills that will make them successful.