Between devaluation and the crisis
But the road is not easy for businessmen, and even less so for Argentines. What are the complications that must be overcome when performing?
I think in Argentina we have a lot of work to make life easier for entrepreneurs. We have a very high degree of informality and it is necessary to make an effort so that entrepreneurs find an accessible pathway towards formal procedures.
Moreover, we realized that instead of being an export company, we must be a global company. They are better able to withstand the ups and downs that every country goes through. I think that in this sense, unicorns are the ones that have managed to go global.
Is the devaluation of the Argentine currency against the dollar an advantage or a difficulty?
Today it is difficult because even though there is an exchange rate that appears to be attractive afterwards, the movement that must be made to enter or withdraw funds is so complex that it does not help the entrepreneur. On the other hand, I want to stress that it shouldn’t be the case, life is easier when you don’t waste time thinking about these issues.
How does an entrepreneur access international investment funds?
To seek investment, the best thing is to create an attractive establishment. In any case, when starting a business, I will not look for investors. I will try to start off with friends, my savings, and use the money I get to start my business. When a company is operating and attractive, it is much easier to get investors, rather than trying to do so with just a presentation.
Another important point is knowing the region in which the company will operate. Many entrepreneurs believe that they will not succeed unless they raise capital and move to Silicon Valley. But why would they want to settle there if they knew its territory better than anyone else? They know their country, the capabilities it has, and they are ready to develop projects that someone from outside might not undertake.
We, for example, organize talent in small towns that would not otherwise be reached by a multinational company. That’s why I say it’s so important to start in your neighborhood, because you know it in a unique way. It was very difficult for Amazon to succeed in Latin America and China, where there are other players E-Commerce They are more local and they know their country better.
What other advice would you give to entrepreneurs in the region?
They must be ready to start working in different places, countries and cities. Americans have launched an app and it’s a hit in their own lands. If they want to expand, they only go to some large areas. The Google thermostat, Nest, for example, only works in developed countries. This never happens to a local businessman. So I recommend, first of all, that you go to many places, but they are places that other people do not go to.
Second, I suggest you think global, not source. Then I advise them to look for a great opportunity and a good team to be able to follow it. If you are going to do something great, it cannot be a small opportunity, it must be a very big opportunity. And to be able to attack it you need to have a great team by your side. This is the key.
Finally, I tell you that there is nothing great to build in the short term. It is important to always have a very ambitious North to unite your team in this direction.