All posts tagged argentina

  • Digital Innovation in Latin America

    TropicalGringo Speaker

    Note: After a great comment from a reader (see below), I’ve re-written (or added some ideas) to this post.  Thanks to one and all who push me to improve the quality of what I communicate in this blog!

    As I’ve written previously, I define digital innovation as the ability to create innovative new business model enabled by new digital tools. When I think of the state of digital innovation in Latin America, the first thing that comes to mind is untapped opportunities.

    The big question is whether some of these untapped opportunities will be taken advantage of by startups, by big  companies or both (e.g., acquisitions, etc.).  The reality is that, with a plethora of new digital tools available, anywhere there are complex problems, there are usually new ways to solve these.  What’s required are talented entrepreneurs passionate about treading untrodden territory.

    Read more

  • Emerging markets have a unique opportunity that most will squander.

    Think biggerThe other day I wrote a post about thinking bigger and now see that the concept has applicability to countries as well as startups. I took a day trip to Medellin yesterday to talk, along with my friend Conrad Egusa, with the management team of a multibillion dollar corporation with almost 200,000 employees.  They are taking a serious look at Colombia and, particularly, Medellin.  It really made me think about something that I’ve stated verbally but don’t think I’ve written here.  That we are living during a moment in history when a number of things are shifting (e.g., economic power,  penetration of digital tools, etc.).  Many countries (particularly, in emerging markets) such as Colombia can either decide that the future will be much different than the past and start making decisions commensurate with the opportunity before them or squander their window of opportunity and forfeit a much brighter future to emerging market countries who have more insight into this new global context.

    This event reminded me of the beginning of the year when an agency in Boston, Massachusetts (Jim and Sandy) reached out to me through my blog here because they were planning to visit Colombia.   For anyone reading this who needs confirmation that writing a blog and connecting with the outside world is rewarding, this should be proof enough.  In that case, I was able to connect them with the national government as well as my Founder Institute alliance partner, Ruta N, and they ended up having a tremendous visit.  In this case, it wasn’t a case of connecting them with others (they had that covered), but more a matter of giving them the low down from a bicultural perspective on what we see here.

    Going back to the session we had yesterday morning in Medellin with this impressive group of visitors.  First of all, it was impressive to see that the whole management team from the Chairman and CEO were present.  I just looked at their corporate website and it’s and looking at the management team pictures it’s amazing to see that they were all here.  It was really stimulating to follow their thought process in terms of analyzing the potential for doing business in Colombia and the types of deep, penetrating questions that they asked.

    Read more

  • De Fundador a CEO

    CEOAutor: Ingeniero en Computación Hernán Miguel Amiune – Profesor de la Universidad Católica de Córdoba Argentina en Programación Online – CoFundador CEO de elMejorTrato.com México. Especializado en Data Mining. Actualmente responsable de la expansión de la empresa a toda Latino América.

    Existen dos formás bien distintas de crear una empresa, una es consiguiendo inversores que crean en el proyecto y la otra es conocida como bootstraping en donde los fundadores comienzan desde cero y a través de la reinversión de las ganancias que va generando la empresa comienza a crecer. En el primer caso, el CEO existe desde el día uno y mayormente se dedica a venderle la idea a inversores e invierte casi la totalidad de su tiempo en buscar capital para hacer crecer la empresa lo más rápidamente posible.

    En el segundo caso, bootstraping, es prácticamente un requisito que los fundadores tengan solidas habilidades técnicas las cuales les permitan comenzar con el proyecto aun sin mucho dinero. En estos casos se podría llamar al fundador CXO, en donde X = {E, T, F, …}, es decir el fundador no es solo Chief Executive Officer (CEO), sino también Chief Technology Officer (CTO), Chief Financial Officer (CFO) y muy probablemente mucho más también.

    El primer paso en el bootstraping es generar ganancias para poder reinvertirlas y seguir creciendo, lograr esto no es tarea fácil, de hecho hay muy pocos que lo logran y lograrlo es realmente un éxito. Muchos, luego de conseguir este éxito, se encontraran más que cómodos manteniendo la empresa tal como esta pero en la mayoría de los casos el siguiente paso es hacer crecer la empresa, llevarla al siguiente nivel.

    Para ello un paso fundamental es el de realizar la transición de fundador a CEO o para decirlo de otra forma de CXO a CEO. Esta decisión es muy importante para el fundador ya que debe decidir si deja de realizar muchas de las tareas que realmente hace y que probablemente esté comido y a gusto haciendo para dedicarse exclusivamente a la toma de decisiones. Para llevar a cabo esta transición existen una serie de pasos que aunque a continuación se enumeran alguno de los más importantes a modo de receta, estos ocurren gradualmente y en un periodo prolongado de tiempo, como todo en la vida, nada ocurre de un día para el otro.

    Dejar de lado la arrogancia y seleccionar el personal

    Quizá el cambio más importante que deba llevar a cabo el fundador es el de dejar de lado la arrogancia de creer que es necesario para todas las funciones de la empresa. Seguramente si logró llevar a la empresa de cero a generar ganancias es más que bueno en lo que hace pero es fundamental encontrar para cada puesto una persona que sea aun mejor para esa tarea y en ese sentido deberá tener la humildad necesaria para reconocer las habilidades de los demás, reconocer, confiar y respetar a esas otras personas que lo reemplazarán y que pasarán a ser claves para la empresa.

    Chess

    Mucho se ha hablado de la importancia que tienen los equipos para pasar de un startup a una empresa exitosa y mucho se ha hablado de la importancia de la selección del personal pero poco se ha dicho de la importancia que tiene el fundador en este proceso. Nadie conoce mejor las tareas que se deben realizar en la empresa que el fundador, nadie las conoce con tanto detalle ni sabe cuáles son las habilidades necesarias para llevarlas a cabo. Por ello el fundador juega un rol fundamental en el proceso de selección del personal más capacitado y de mayor importancia. En este momento de selección, la capacidad del fundador de reconocer y atraer gente más talentosa que él mismo es lo que hará la diferencia entre el éxito o el fracaso o cualquier punto medio entre estos dos.

    Distribuir las responsabilidades y automatizar los procesos.

    Un segundo paso o mejor dicho un paso que va de la mano con la selección del personal de jerarquía es la distribución de las responsabilidades. De nada sirve seleccionar a una sola persona súper capacitada para que reemplace al fundador en todas las tareas. El nuevo CEO debe distribuir todo el peso y la carga que estaba soportando como fundador en varias personas altamente eficientes, cada una en su especialidad. Esto obviamente se llevará a cabo gradualmente, es decir, la X de CXO tendrá cada vez menos valores disponibles para la X hasta que el único valor sea E.

    Todo este proceso llevará a una empresa más sólida, la cual se encontrará apoyada sobre varios pilares los cuales sostendrán la estructura de la empresa y le darán la base para seguir edificando y creciendo.

    Por otro lado el fundador al conocer todos los detalles del funcionamiento de la empresa deberá decidir, ya contando con profesionales altamente capacitados, cuales procesos se podrán automatizar a fin de evitar la contratación de personal no imprescindible, lo cual seria una ineficiencia muy cara para una empresa en crecimiento.

    En resumen el paso de fundador a CEO implica pasar de ser imprescindible para la empresa a pasar a ser totalmente prescindible, en el sentido de que la empresa deberá funcionar automáticamente en donde en CEO sólo se dedicará a tomar decisiones estratégicas y no de funcionamiento básico de la empresa.

  • Colombian Startup Ecosystem mentioned in Forbes

    Colombian_StartupsI tell ya, what a difference a few years make.  About two years ago, Adeo Ressi, founder and CEO of the Founder Institute, acquiesced to opening a chapter of this startup incubator in Colombia, I was able to commence from pretty intense work in developing an ecosystem in this country.  Even though there have been some Colombian startup success stories headed by people such as Andres Barreto, Juan Diego Calle, Martin Schrimpff and Jose Velez whom I mentioned in a VentureBeat article at the end of 2011, the term “Colombian startup” has been closer to being an oxymoron than many here would like to admit, but things are slowly changing and, today, Forbes published an article about Adeo Ressi and the Founder Institute where the Colombian chapter is discussed.

    This isn’t the first time that Adeo has mentioned Colombia in the press.  After visiting Colombia for the first time and then returning to kick-off the first Founder Institute semester here, he came away from the experience with a fondness for the country.  He’s also mentioned the impact that the Founder Institute is having in Colombia in interviews with the New York Times and Businessweek, among others.

    Although I’ve mentioned several times that the Colombian ecosystem still has a ways to go when compared to other countries in the region such as Brazil, Argentina and probably also Chile and Mexico, there’s a growing group of competent people in-country laboring push Colombian entrepreneurs to new heights.  I have written a number of times about the ecosystems of Argentina and Brazil as well as new startups in Argentina such as Joincube and others such as Smowtion and Brazilian players such as Compra3 and even Pio.la from Venezuelan uber startup guy, Hernan Aracena.   Nonetheless, these countries have already created some leading startups such as MercadoLibre and Buscape, among others.  Thus, I’ve always been cognizant of the fact that the efforts in Colombia are the ones that most need visibility within the the global market.

    Starting in 2009 with an article I wrote for VentureBeat on LetMego, a startup from founders Alex Torrenegra and Leonardo Suarez, I was able to start things off. After this, VentureBeat went on to publish my article on real estate portal VivaReal not only on their site, but also in the digital edition New York Times right before that company started raising an important round of funding and explosive growth.  Later, I was able to highlight Zio Studios’ funding round in 2011.  Aside from this, when interviewed for publications such as Inc Magazine, I don’t miss the chance to promote the reasons why investors should think about Latin American startups.

    Ok. Well this has all been well and good.  Promoting the Colombian and Latin American ecosystem is important as is educating local entrepreneurs on the basics of creating a viable startup.  Nonetheless, my efforts in this respect have an egotistical motive and an attempt to solve a curious problem: myy desire to run an investment fund while living in a country that I’ve grown fond of (and gave me a beautiful wife and children), but that didn’t have a viable startup ecosystem. Hence, two years ago, I started the promotion phase (highlighting existing successes and educating potential entrepreneurs) and am now ready to start a more “meaty” phase of working full-time to develop strong startups, which I also recently wrote about.

    As I mentioned, since working as a Strategic Investment Manager at Intel Capital, my goal has been to create my own fund and fund companies which I feel can become high impact startups.  During that stint, I presented four companies in one year to the investment committee at headquarters in Santa Clara, California (quite uncommon in Latin America at the time).  This, even though I was unable to present one of the deals I was most enthused about (it was counter-intuitive at the time).  I was even reprimanded by my bosses for suggesting it (the company went on to be wildly successful).

    Probably the most rewarding experience was working with a company called JackBe that we didn’t fund during my tenure, but that I advised to change their business being a technology provider within the Pharma industry to becoming a tools company.  Since then, I’ve felt my path lay in funding and working with startups.  In order to accomplish this while living in Colombia, I’ve had to develop a step by step strategy.  I’m about midway through a strategy, which, every day gets closer to becoming reality. :)