Key factors for creating a successful startup.
Ralph Michaud, a systems engineer by training, had a corporate career, working for companies such as IBM, DHL, Cacesa Tech&Logistics, more recently, Copa Airlines. He obtained an MBA from IE, which allowed him to access managerial positions, particularly in the field of logistics.
The startup world was not entirely unfamiliar to him. In December 2019, he fully immersed himself in this world, initially as an entrepreneur with a startup called “Seven Percent.” Later, driven by his passion and the search for purpose, he joined the challenge of Star Startups, alongside CEO Kelvin Carbonell.
During the question and answer session, we asked him some questions such as:
– What are the key characteristics of a successful team? One of the main indicators is dedicating oneself 100% to the project, having a willingness to learn, resilience to failure, and being a person of action, avoiding over-analysis.
– Why would someone make the leap to entrepreneurship coming from a corporate background? Because you have to do it, because you need to, because it burns inside you… Ralph believes there is no other reason to enter the world of entrepreneurship. It’s important to “unromanticize” entrepreneurship, but it’s evident that it’s a necessity.
– What is your opinion on the ego of an entrepreneur? It’s good to be confident, make decisions, and follow through with them. But it’s important to listen and observe those around you in the process. Surrounding yourself with people who provide different opinions and perspectives is crucial. Sometimes, when startups start gaining traction, many become blinded by the belief that they have the “unicorn.” It’s important to stay grounded.
– One of the most challenging roles to fill is that of a CTO. What are your thoughts on this? And what technologies do you think can have a greater impact on startups? It’s true that technical profiles are more challenging, but technologies like No Code have emerged for early stages. On the other hand, the market seems to be heading strongly towards AI, not tomorrow but today. As for Blockchain, there is a lot of hype, but there is a feeling of trying to force-fit that technology. Industry 4.0 is something that has a lot of future potential, and Ralph believes it will have a long way to go.
– Star Days: What was the winning proposal in the last edition? It was a solution in the funeral industry. A niche business with stable demand, a “market that never dies” ^^.
We concluded the event by providing value with references.
Podcasts to delve into:
– “Kaizen” by Jaime Rodriguez de Santiago.
– “Itnig” by the Factorial team.
Books to explore:
– “The Lean Startup” by Eric Ries.
– “The Mom Test” by Rob Fitzpatrick.
And we wrap up with the lesson that Ralph would have liked to internalize years ago, leaving us with two pearls of wisdom:
“Deepen your self-awareness. Know who you are, accept yourself, and this will open up a professional path that aligns with your understanding of life.“
“Everything has a solution, everything passes. Do what you feel you must do because everything passes. Especially if you are a young person.“
We look forward to seeing you in future podcasts. Take care, guys and girls in the trenches.
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