By: Jose Shintate
During the summer 2007, I worked in Colombia with Ideagro, a manufacturer of agricultural machines. The goal of the project was to create a growth strategy for the next 3 years for Ideagro, including an implementation plan to help the company achieve this growth. The project was developed in two phases: the first were a market study was developed, and the market potential in Colombia determined. As a result, a series of recommendations were developed, with a special focus on the recommendation to create a sales structure with multiple channels. On the second phase these recommendations were detailed, especially regarding sales, and it was also created a system to track costs on a real basis per machine and channel.
In order to develop the work at Ideagro, I worked closely with the entrepreneurs, Mauricio and Arturo, and also with the new Ideagro general manager, the production and design chief. An Endeavor mentor was essential in helping formulating the sales model and acted as a sounding board as well. I also had extensive support from Endeavor Colombia, especially the head of the office and the responsible for Entrepreneur services. I could learn a lot about how to effectively be a self – starter, and how to involve several different people in common project. Many challenges were around the project, from the infra-structure of the fledgling company to the lack of information on the market. Some experiences were enriching and off the beaten track, such as roaming around Bogota in search for a new site for the plant, and going to the national agricultural fair to benchmark competitors.
The sale a stake of Ideagro to investors was a remarkable moment, since it provided an opportunity make a difference in a crucial moment for the entrepreneurs. I helped revising sales contracts and pointed risks to the entrepreneurs such as dilution, and introduced topics on their relationship with the investors, such as their changing roles and the requirements to run a company professionally, such as reporting.
Overall, I believe I helped set the importance of management information in Ideagro, as well as importance of developing more professional practices such as planning and goal setting rather than reacting passively to each daily crisis.
To me, the experience was very rewarding. I especially feel more confident regarding the challenges faced by entrepreneurs, and about the mindset it takes to overcome them. I expect to steer my career towards entrepreneurship in a near future, and the summer further inspired me to develop this career path by broadening the possibilities I had previously thought about.
0 Responses to “Ideagro”