Change in the team
There have been some changes in the coaching team and the focus is now on training the new coaches. When asked what the biggest challenge is in training the coaches, Adrian has an immediate answer: they have to develop the right "feel" to select suitable entrepreneurs and accept them into the BPN program. You have to learn to "schmöcke" that certain something. Learning these components takes place in part only through gaining one's own experience as a coach and is a process.
In general, Nicaragua is very eager to maintain or even slightly increase the level. Adrian can count on the support of the two site managers in Managua, who have already been working for BPN Nicaragua for 6 and 8 years. This is a great help and Adrian appreciates it very much.
In Managua, a major road reconstruction project is currently on the agenda. As the BPN office is located in the center of the city on one of the main roads, it is possible that our office will be affected by reconstruction work. Adrian explains, "It is not yet clear when and how exactly the plans will be implemented, but it will have a strong impact on our office location, especially during the works. The road will be widened, which will make the already limited parking space even smaller. We remain flexible and are monitoring the situation."
Course of 2022 so far
The acquisition of participants in Nicaragua is very time-consuming. It often takes several personal contacts and inquiries before someone can be won over. However, the team is doing everything in its power to select numerous new companies again this year. Usually, most new program participants are recruited in May/June and August/September, which is why the main season is still to come this year.
Economically, the inhabitants are fishing their way from one crisis (uprisings in 2018) to the next (corona pandemic and hurricanes). The difficult conditions, which have now lasted for several years, are leaving their mark. Many people are emigrating to try their luck elsewhere. For those who stay, the financial situation is sometimes strained. Investments - such as seminar fees - are being considered very carefully and made hesitantly. The entrepreneurs try to make the best use of the cost-benefit ratio with the available funds. It is encouraging that BPN Nicaragua is in negotiations with a possible partner for the resumption of the offer of credits. As soon as a decision is foreseeable, we will inform accordingly. Otherwise, a relatively normal year is on the agenda in Nicaragua. There are no elections or other extraordinary items on the country's agenda. Let us hope that the companies can thus recover somewhat from the past turbulent years and develop within the framework of the still challenging general conditions.
Feedback from BPN program participants - Trend: Dentists
In 2022, the 2 seminars on time and financial management have already been held in Nicaragua and were well attended. Currently, there is an accumulation of dentists who use the BPN offers. For example, a dentist who attended both seminars reported to Adrian that he found the tool he received, the financial table, enormously helpful. He will use it for his practice and has had some "aha experiences" as a result. Adrian explains with a smile that he is pleased when the participants talk about "aha experiences" instead of "shock moments". It is very nice to observe how the entrepreneurs subsequently apply the new knowledge in practice and thus begin to reinvest part of their income in the company and build up reserves. One dentist, for example, realized that she would already have to think about buying a new dental chair when she saw that the current model was slowly coming to the end of its useful life and had become obsolete. Other dentists in the seminar even gave her tips on maintenance work and how she could optimally plan the purchase of a new chair.
As an entrepreneur, especially in a country like Nicaragua, the topic of resilience is unavoidable. Adrian reports that he is confronted with this topic again and again, especially in personal contact with entrepreneurs in coaching sessions. It often helps to confirm to the entrepreneurs that they are on the right track and to give them what they call "fresh air". After a coaching visit, the entrepreneurs gain hope and tackle things that they had previously put off or for which they had previously lacked the necessary portion of courage and self-confidence. Adrian and his team are very touched when they receive feedback from entrepreneurs like "I would have given up if it wasn't for you.
We are grateful for the strong commitment of BPN Nicaragua and look forward to many success stories from the 2022...
