Country: Sete Lagoas, Brazil
Profession: Manufacturing
Business: BÚFALO FERRAMENTAS
Partner School: FUNDAÇÃO DOM CABRAL
Business Overview
My father founded Búfalo Ferramentas in 1978. In 1996, I started running the business, but I began working at the company when I was 14. Although we had numerous clients, we did not have a business strategy. We also were involved in a number of non-revenue generating activities.
Challenges
At the beginning of the 1990s, the company was mismanaged and the country was experiencing an economic downturn. We had a lot of debt and short sales, and we had to dismiss all of the employees. Because of my young age and lack of business education, I felt limited in my potential at the company. I also realized that I needed to learn a lot more about accounting.
Results
Through 10,000 Women, I learned about the division of labor, and now delegate responsibilities so that I can focus more on marketing and increasing our sales. I have started to automate much of our production which has helped to increase our productivity. We have also set up a new showroom for our clients and in 2011 we gained 24 new clients. Revenues have increased 70%, and profitability has grown by more than 20%. I have paid off all of our company’s past debts to achieve a sound financial health. Because of our financial stability, I have been able to access more loans to purchase new equipment. When I started running the company, we had 14 employees and now we have 22. To pay forward the benefits that I have received through my training and mentorship, I have started a community group called “Women in Politics.” I organize meetings and lectures for local women and have been encouraging many other women to apply to 10,000 Women.
Future Goals
I would like to begin exporting our products, and potentially importing other products that our company could retail here. I have been approached by businesses in other regions who are interested in using my brand in their products. I am considering this opportunity and will most likely pursue it if I can be assured that the quality of my brand will be maintained.
Our weekly newsletter with insights and intelligence from across the firm
By submitting this information, you agree to receive marketing emails from Goldman Sachs and accept our privacy policy. You can opt-out at any time.