A post by Indira Palomino Delgado, a WiT Peru volunteer = )
Thanks to the invitation of WIT Peru, I attended the event organized by E – Quipu PUCP, which was presented Andrés Moreno to tell a little of his personal history and Open English and how to get financing for a startup.
Undoubtedly , Open English is a benchmark for startups in Latin America. I think the vast majority have laughed with their business advertisement, myself included, and many entrepreneurs now have the dream tosucceed in their technology company. And how do I do it? What steps follow? Andres Moreno gave us some tips here and tell you what caught my attention the most:
I’ve always heard of entrepreneurs and motivators. Not only visualize what you want to achieve but also how we see ourselves in the future, and behave as such.
2. Entrepreneurship is a lifestyle
Undoubtedly one of the most difficult changes in the venture, because sometimes our habits are so ingrained that it is difficult to create new ones. There is the challenge, entrepreneurship is changing the way we live day to day, we must deal with greater uncertainty, failures, unforeseen and move on.
3. Don’t leave the university
Andrés Moreno is one of the most successful entrepreneurs who did not finish college and its main advice is not to leave school .
The presentation also included a section on how to get funding for a startup . Here are some that I thought were important :
1. Have defined the business model, how will the company generate revenues? While there are cases of successful startups like Facebook world that began with no idea how to monetize, they represent far less than 1 %.
2. Be clear about how to get new customers. What will be the strategy? . For Open English it was advertisements.
3. Calculate the margin per customer, ie the net value that enters the company so that each customer pays for all the time you use the product / service. (after deducting the expenses and costs of the product / service offered , as well as sales and marketing expenses to attract customers ) .
I hope the post will be helpful , and to continue working on our businesses. I think we’ll find our own formula and success concept in our own way! .
Thanks for the post Indira!