Yesterday I participated as a jury in a competition for entrepreneurs. One of the things I do in my day to day is advising people who want to start news business projects and accompany them in the early stages of launching theirs companies. I got me a place in this world and, unless these events, the rest I like it. In a sector dominated by men, sit on the jury a young woman gives very good image. I suspect that's the reason why I am invited. I seem not valid motives. As I can’t change their way of thinking I try to take advantage of his weakness.
Or by whatever, but these events are very boring, they allow me to strengthen my professional contacts and that suits me. I had no choice but to accept the invitation even while in late August. Luckily they were generous with air conditioning or I couldn’t have resist the torpor.
The event I'm talking about was organized by a city council and was about business ideas. When I say ideas, I mean that participants had been limited to writing a business plan. It is not required to participate any activity initiated in the market. You know how far you can be innovative on paper. There are no limits to the imagination
I will summarize a few of the exhibits to give you an idea of how it was the circus of horrors. Obviously I will not share any information that could identify any of the people I talk .
The guy who had invented “the google of…” and wore a suit of his older brother
25 years boy. He wears a suit of a size more. He is not ridiculous but it is clear that the suit is not his. He did not feel comfortable with his clothes. Besides his hands are sweating and rubs its in his pants to try to dry them.
He has invented the google of… “ .He has the most innovative idea in its sector. His voice trembles as the slides go by. However he seems very convinced of what he is telling us. In its economic plan we can see a profit of 2 million euros the first year. Where do I have to sign?
When speech time runs out, begins the time of the questions the jury. Me: How do you come up with your idea? He: I take a programming course. I saw all the possibilities and the teachers encouraged me to undertake. All right. Another fool motivated. Me: Will you develop your programming all alone? I see that in your budget does not show anything about pay programmers, designers, etc. He remains silent for a moment. I think I've managed to make him doubt. Well, many start in a garage without means. Why I not go to me?
Poor guy. Someone has to tell him. You're not a genius!! You've never worked in a real company. You have made a 150h course you the basics for programming. That's all your training. In the real world they are creating projects with real armies of programmers, with highly qualified designers and marketing expert. They will not hesitate to kill you if, being very optimistic, you get to steal a single customer.
How long do you think you are programming? You're gonna be a minimum of three years with your level of knowledge. When you want to launch "your google" technology will be so different that your idea of two million will not be worth anything. Even if your company was ready today they would eat you alive.
Girls who want to sell expensive cupcakes
(Decorated cupcakes are not common in Spain .In recent times we have been populars for a few people by the influence of TV and Internet . The vast majority of people still prefer the local pastry.)
Two women enter the scene (aprox 40). They tell us they are unemployed for a long time and need a new project that excites. A few months ago they learned to make foundant cakes and cupcackes watching videos on youtube. They will open a pastry shop in a working-class neighborhood where her cakes will be sold for a price that is twice that of the local pastries. Triple the price that industrial pastries. But they have seen on the internet that foundant and cupcakes are cool.
To make the numbers add up in their business plan they will have to ask the bank for a loan of EUR 60000 to reform the local and look according to the aesthetics that have seen it work.
Me: Would ye already have chosen a local? They: Yes, we have found one, right next to the “Ferretería González”. It is very spacious and has lots of light Me: How big is it? They: Enough to fit 20 tables
Me: Do you need an investor ? I have spare money
I thank the gods that this couple does not have enough friends to start their own funds. Natural selection remove them. They come to the bank and, if the principal has a little common sense, not grant them the loan. Otherwise condemn them to ruin
They want to sell , in a neighborhood where 75 % of residents are over 60, a neighborhood where the purchasing power is really low priced obscene nice muffins.
If they had studied a little of their target audience would have concluded that their idea is preposterous and is doomed to failure. Those who could be their potential customers will not pass in front of their door. I figure above that of the people who pass through his shop window only 0.2 % may feel the urge to buy.
The winner (she still doesn’t know).
Young woman, about 35. She is a good communicator. She doesn’t seem too nervous. She has invented a contraption. Naturally I can’t explain her idea. It is a very simple invention that solves a problem of urbanism.
The product which is intended to replace, which is used toda , involves a cost of 500% plus for municipalities which she proposes. She has found a different solution to an existing problem of cost savings.
It has long in her mind. The idea is very elaborate. When she came up she decided to study how it started. She has attended conferences and courses thousand over the past year. She has realized that she can’t control everything and, as she knows it has something powerful, she has decided to invest what they can of their unemployment benefits to outsource the things she can’t do. ¡Rigth!
She will win a cash prize. She will make the most of each euro.
During the day pass in front of us seven other entrepreneurs more. I don’t think any of them succeed. They have good intentions but that is not enough.
Being an entrepreneur is trend. We sell the idea that everyone can undertake. That is not like that. I’m sorry, someone had to say it. Most people who try to take fail. Many of those who try end up ruined
We love news like: “garaje + idea + an investor knock on your door with millions of euros”. If something is news is because it is not usual.
In a business plan you can include everything whatever you want. Do not deprive yourself. Permit yourself big dreams. But then you have to go outside. You 're going to have to defend yourself from many enemies. You have to cover all your flanks. And you watch annoy someone. Very careful take a client to a big fish . They will try to kill you.
You will need to know accounting, marketing and legal issues. You will need to know about everything. You need to know how to sell. There is nothing to sell itself. You need tenacity, resilience. If no one has told you yet the road is full of stones, some of them are huge.
I have spent many nights crying to fulfill my dream. I worked every Saturday and Sunday of the first two years to fix the errors found during the week. Today I have 12 employees in my first company and I am proud. Now I'm working to launch a new project. And I know I still have to shed many tears because I am not satisfied with what I have. I am determined to do everything necessary to make my small plot in the world a better place.
We loves the law of minimum effort. Forget the euphoria of your eureka moment. Think like a machine. __ Behind every great success there is always a great execution. An idea by itself is worthless. Learn. Identify your weaknesses and form yourself. Do not be impatient. I do not care that you consider higher. I do not care you need money urgently.
