Adventures in entrepreneurship and venture capital in Latin America
Most entrepreneurs that are fundraising focus their pitch for the current money needed, with some 5-year supporting financial plan. The storyline is about the now and about the far future. I would argue that the successful raise is the one that focuses on the next funding round, not this one. The logic is straightforward: no investor wants to be left […]
That was supposedly Jesse James’ response when asked why he robbed banks. Might be apocryphal, but no less insightful for it: look for opportunities where you have the best chance of success. My friends and co-bloggers, Avikk Ghose, Leonardo Shapiro, and I feel very strongly that where the money will be in the coming years is in […]
To fund or not to fund? By Gabriel Manjarrez This question comes up a lot, especially in startups in Mexico, where externally funding a venture is much less common than in the US. All respect to the Bard, though, that is actually not the question. The question is really ‘how fast do you want to grow?’ I […]
“Hire slow, fire quick” By Gabriel Manjarrez This is now an oft-used term but no less valuable for it. McKinsey did a research study in the mid-90’s trying to assess the effectiveness of CEOs at hiring their executive teams. They tracked shareholder value over a leader’s tenure and then mapped the hiring/firing of their direct […]
“Nada esta escrito en piedra.” “Nothing is written in stone.” By Gabriel Manjarrez This is my favorite personal saying, and I use it frequently when talking to people inside and outside Mimoni. As I mention in a previous post, “The round room problem”, you need to be 100% focused on your model until you should […]
This is my own metaphor for what is a constant challenge to entrepreneurs: Focus. Almost by definition good founders never stop looking for ideas and opportunities, both within and outside their current business. That can lead to disastrous distractions. This is the issue with the round room; some of those doors are created by well-meaning […]
“Tell me what you pay me for and I’ll tell you what I do” By Gabriel Manjarrez Though this is not a popular Mexican saying, it is a key management tool. I attribute the saying to Javier Palomarez, a former boss who was professional, inspiring, smart and fun. He is currently the CEO of the […]
“Camarón que se duerme, se lo lleva la corriente” “Shrimp that falls asleep gets taken by the currents” By Gabriel Manjarrez Clearly this does not translate very well, but it is an oft-used metaphor for not letting your business be overtaken by competitors doing more-innovative things. Mexico, like many developing economies, is suffering the consequences of […]
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