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Alejandro Betancourt Article Recap

Alejandro Betancourt is an entrepreneurial success story that began with humble origins. Alejandro Betancourt was born in 1967 to a low-income family in the Dominican Republic, and he left home at age 12 after his mother died of a heart attack. His mother’s death had been a turning point in his life, triggering something inside him. He sold his car to purchase radio contacts and then began taxiing. He would take passengers to their destinations, but he also began to drop them off at some of the larger hotels in Havana’s tourist areas.

During this time, Alejandro Betancourt discovered that his entrepreneurial spirit manifested itself by wanting to become a taxi driver. So, he began by doing whatever it took to obtain the necessary licenses and permits to drive a taxi on the streets of Havana legally. Alejandro Betancourt spent time as a shoe salesman. He even lived as a vagabond to sell his shoes until he had enough money to get into the University of Havana and study in economics. Instead, he dropped out in his senior year to take care of his ailing father, with whom he reconnected after decades of separation.

Alejandro Betancourt started his first business, a small food stand, in a neighborhood of Miami. After he had built up his clientele a bit, he began to open other stores. He also bought turnip greens from local farms and brought them to the stores he had opened there. His business was growing steadily, and soon, he had enough capital to start another store on the more expensive side of town.

Alejandro Betancourt expanded all of his businesses through word of mouth, which was how he drew in clients at first. However, his success is largely attributed to the fact that he developed a business model based on establishing long-lasting relationships with his clients, who come away from his businesses completely satisfied.