Emprender e Innovar en America Latina | Daniel Wainmann | TEDxQuito

TEDx Talks

29 Sept 201819:14

Summary

TLDRThe speaker emphasizes the importance of innovation, disruption, and impact in entrepreneurship, highlighting the significant economic benefits it brings to countries like Israel and Ecuador. Despite challenges in Latin America, the speaker shares personal experiences and lessons learned, advocating for dreaming, focusing on solutions, strategic planning, and surrounding oneself with valuable partners to achieve success in disruptive entrepreneurship.

Takeaways

🚀 Entrepreneurship is a creative and challenging activity that requires innovation, disruption, and impact to be significant.
💡 The success of a startup is often measured by its ability to be sold for millions of dollars, reflecting more than just personal financial gain but also economic benefits for countries.
🌍 International studies show that countries like Israel benefit significantly from entrepreneurship, with billions of dollars in revenue from startup exits and IPOs.
📈 While countries like Ecuador have collected less in taxes compared to what Israel has gained from entrepreneurship, there is a growing movement in Latin America to foster a more supportive environment for startups.
🛠 The speaker emphasizes the importance of tenacity and learning from failures in entrepreneurship, highlighting that success often comes after numerous setbacks.
💭 The speaker suggests that dreaming while being awake is crucial for entrepreneurs, emphasizing the need for grounded aspirations.
🔍 The problem is more important than the solution; entrepreneurs should focus on solving problems rather than just having ideas.
⏱ Allocate 80% of time to strategizing and only 20% to execution to ensure thoughtful planning before action.
📊 Luck, talent, and experience play different roles in entrepreneurship, with strategy being the most significant factor to compensate for any lack of the others.
🤝 Surrounding oneself with a valuable team can help compensate for personal shortcomings and is essential for entrepreneurial success.
🎯 Defining clear objectives before seeking results is vital; many entrepreneurs mistakenly adjust their goals based on outcomes rather than setting and achieving them.

Q & A

What are the three key ingredients for a successful entrepreneurship according to the speaker?
-The three key ingredients for a successful entrepreneurship are innovation, disruption, and impact.
How does the speaker define the success of a startup in terms of financial outcomes?
-The success of a startup is defined by its ability to be sold for millions of dollars, which is not only about the entrepreneur making money but also about the country benefiting from such transactions.
What study did Pida Belushi conduct, and what were its findings regarding entrepreneurship in Israel in 2017?
-Pida Belushi conducted a study that found Israel earned over 20 billion dollars from entrepreneurship in 2017, primarily through the sale of companies and exits, which was nearly double the amount collected in taxes in Ecuador.
What is the speaker's perspective on the state of entrepreneurship in Latin America compared to Silicon Valley and Europe?
-The speaker believes that Latin America is not yet a friendly environment for entrepreneurship, with the exception of countries like Brazil, Argentina, and Mexico, which have made efforts to create suitable environments. However, there is a strong movement towards the advancement of entrepreneurship and startups in the region.
What challenges does the speaker highlight that entrepreneurs face in Ecuador?
-The speaker mentions the lack of incentives for entrepreneurship, few high-quality incubation ecosystems for startups, and limited support in terms of investments or venture capital funds as some of the challenges faced by entrepreneurs in Ecuador.
What is the significance of the term 'hood' in the context of Israeli military service and entrepreneurship?
-The term 'hood' represents a set of qualities such as audacity, courage, questioning, and tenacity, which are considered essential for entrepreneurship and are often developed through the Israeli military service.
What personal transformation did the speaker undergo in Ecuador, and how did it affect his career path?
-The speaker underwent a significant personal transformation after moving to Ecuador, which led him to leave his military occupation and become an entrepreneur focused on solving mobility and automotive industry problems.
What is the speaker's first lesson for entrepreneurs about dreaming and being grounded?
-The first lesson is to learn to dream while being awake, meaning to have aspirations and ideas that are rooted in reality and not just in sleep or fantasies.
What is the 80-20 rule the speaker mentions, and how does it apply to entrepreneurship?
-The 80-20 rule suggests that 80% of the time should be dedicated to strategizing, evaluating, and planning, while only 20% of the time should be spent on execution.
How does the speaker describe the distribution of luck, talent, and experience in the life of an entrepreneur?
-The speaker allocates 10% to luck, acknowledging that not everyone has good fortune all the time; 10% to talent, which is the academic capacity and knowledge one has; and 80% to strategy, which can compensate for the lack of both luck and talent.
What is the speaker's advice on setting and achieving goals for entrepreneurs?
-The advice is to define objectives first and then achieve them, rather than adjusting goals based on outcomes, which is a common mistake made by many entrepreneurs.
Can you provide an example of a successful project that started in Ecuador and expanded globally?
-One example is ChevyStar, a service for automotive assistance that started in Ecuador, was validated, and then expanded to Colombia and Venezuela, eventually being sold for 80 million dollars.
What is the significance of the story about Waze and how does it relate to Ecuador's role in validating global projects?
-The story of Waze, an Israeli project that was validated and incubated in Ecuador before being sold to Google for 1.1 billion dollars, demonstrates how Ecuador can be a platform for testing and launching successful global ventures.
How does the speaker describe the essence of being an entrepreneur in Ecuador despite the challenges?
-The speaker describes the essence as finding opportunities within difficulties, using the challenges as a means to innovate and validate projects that can succeed on a global scale.

Outlines

00:00

🚀 The Essence of Entrepreneurship

This paragraph discusses the critical elements of entrepreneurship, emphasizing the importance of innovation, disruption, and impact. It highlights the process of creating startups, securing funding, and transforming ideas into sustainable business models. The speaker also touches on the economic benefits of entrepreneurship, citing examples from Israel and Ecuador to illustrate the significant revenue generated through the sale of companies. The paragraph sets the stage for a deeper exploration of the challenges and rewards of entrepreneurial ventures, particularly in Latin America.

05:03

🌟 Military Service and Entrepreneurial Spirit

The speaker shares insights from his personal journey, starting with his military service in Israel and how it influenced his entrepreneurial mindset. The concept of 'hood' is introduced, encapsulating traits like audacity, resilience, and tenacity. The narrative then shifts to his move to Ecuador, where he transitioned from military to entrepreneurship, focusing on mobility and automotive industries. The speaker reflects on the hardships faced during his early entrepreneurial years, drawing parallels to a tough boxing match and emphasizing the importance of dreaming, perseverance, and learning from failures.

10:05

🤔 Prioritizing Problems Over Solutions

In this paragraph, the speaker delves into the nuances of entrepreneurship, stressing the importance of focusing on problems rather than just ideas. He outlines several key lessons for aspiring entrepreneurs: the necessity of dreaming while being grounded in reality, the significance of dedicating time to strategy over execution, and the balance between luck, talent, and experience. The speaker also underscores the importance of defending objectives and not letting results dictate goals, highlighting the common mistake of entrepreneurs in setting targets based on outcomes rather than clear objectives.

15:06

🌐 Ecuador as a Testing Ground for Innovation

The final paragraph showcases how Ecuador, despite its challenges, can serve as an ideal testing ground for entrepreneurial projects. The speaker recounts two success stories: the implementation of a vehicle assistance service by General Motors in Ecuador, which was later expanded across Latin America, and the growth of a technology platform that was eventually acquired by Google. These examples demonstrate how even in a non-conducive environment, disruptive ideas can be validated and scaled globally. The speaker concludes by expressing his passion for entrepreneurship as a way of life and a means to make a difference in the world.

Mindmap

Keywords

💡Entrepreneurship

Entrepreneurship refers to the process of designing, launching, and running a new business, which typically involves risk-taking and innovation. In the video's context, it is portrayed as a creative and challenging activity that includes innovation, disruption, and impact. The speaker emphasizes the importance of entrepreneurship in economic growth and its role in transforming ideas into sustainable business models.

💡Innovation

Innovation is the introduction of new methods, ideas, or products. It is one of the three key ingredients mentioned for a successful entrepreneurship, alongside disruption and impact. The script discusses how innovation is crucial for creating startups and transforming ideas into real services, highlighting its role in economic advancement and the creation of new business models.

💡Disruption

Disruption in the context of entrepreneurship refers to the act of challenging the status quo and introducing new ways of doing things that can overhaul existing markets or industries. The video emphasizes the importance of disruptive startups in creating significant economic and social impacts.

💡Impact

Impact in entrepreneurship denotes the effect or influence that a business or its activities have on the economy, society, or the environment. The script underlines that an impactful venture is one that goes beyond financial success, contributing to the broader good and potentially leading to the sale of the business for substantial sums.

💡Start-up

A start-up is a young company that is in the initial stages of its operations. The term is used in the script to describe the type of ventures that are often the result of entrepreneurial efforts, particularly those that are innovative and disruptive. The speaker discusses raising millions of dollars to finance these ventures and their potential for significant growth and profit.

💡Business Models

Business models describe the rationale of how a company creates, delivers, and captures value. In the script, the creation of sustainable business models is highlighted as a critical component of successful entrepreneurship, necessary for the viability and growth of a start-up.

💡Venture Capital

Venture capital refers to the financing given by investors to start-ups with perceived long-term growth potential in exchange for equity or debt. The script mentions raising venture capital as a significant step in the process of establishing and scaling a start-up.

💡Ecosystem

In the context of entrepreneurship, an ecosystem refers to the network of organizations and individuals that support the growth and development of start-ups. The script discusses the lack of a supportive ecosystem in certain regions as a challenge for entrepreneurs, emphasizing the need for incubation and investment environments.

💡Tenacity

Tenacity is the quality of being determined and persistent, especially in pursuing a goal. The speaker in the video uses the term to describe the resilience and determination required of entrepreneurs, who must overcome numerous setbacks and failures on their path to success.

💡Disruptive Entrepreneurship

Disruptive entrepreneurship involves creating new markets or significantly altering existing ones through innovative products or services. The script shares examples of how, despite unfavorable conditions, disruptive entrepreneurship can lead to global success and substantial financial returns.

💡Validation

Validation in entrepreneurship is the process of confirming that a business idea, model, or product is viable and has potential in the market. The speaker discusses using Ecuador as a 'laboratory' to validate business ideas before expanding them to other markets, highlighting the importance of this step in the entrepreneurial process.

Highlights

Entrepreneurship is one of the most creative and challenging activities a person can undertake.

For an enterprise to be significant, it must include innovation, disruption, and impact.

Entrepreneurship involves creating startups, raising millions of dollars in financing, and transforming innovative ideas into real services.

The creation of sustainable business models and selling these companies for millions of dollars is a key indicator of successful entrepreneurship.

International auditor Pida Belushi analyzed that in 2017, Israel earned over 20 billion dollars from entrepreneurship through the sale of companies.

In 2017, Ecuador raised a little over 13 billion dollars, showing that a country could live off entrepreneurship.

Latin America is not yet a friendly environment for entrepreneurship, except for some exceptions like Brazil, Argentina, or Mexico.

There is a growing movement in Latin America towards advancing entrepreneurship and startups.

In Ecuador, there are serious problems for entrepreneurs, with few incentives, ecosystems, or support in terms of investments or venture capital funds.

Entrepreneurship must go through failures; there is no entrepreneur who has achieved success without numerous setbacks.

The speaker started entrepreneurship when the term did not exist, creating startups and raising capital when these concepts were not common.

The speaker emphasizes the importance of 'chutzpah' (audacity, nerve, and boldness) in Israeli culture, which is crucial for entrepreneurship.

In 2009, the speaker moved to Ecuador as an advisor for the Ecuadorian Air Force, leading to a personal transformation and a decision to become an entrepreneur.

The speaker's first eight years as an entrepreneur were challenging, but perseverance and learning from failures were key.

The first rule for entrepreneurs is to learn to dream while awake, meaning to have grounded but ambitious goals.

The problem is more important than the solution; focusing on solving problems leads to good ideas.

80% of time should be dedicated to strategy and only 20% to execution.

Luck, talent, and experience are crucial; strategy should be given 80% of focus to compensate for lack of luck and talent.

Defend objectives and do not let results become objectives; define goals and then achieve them, not the other way around.

Every difficulty in entrepreneurship allows for new opportunities to open up.

Ecuador has a spectacular market, small but with incredible people, making it a great place to test and validate business models.

Chevystar, a project that started in Ecuador, validated its models and expanded to Colombia and Venezuela, eventually being sold for 80 million dollars.

Waze, a project born in Israel, was validated and incubated in Ecuador, leading to its expansion throughout Latin America and eventual acquisition by Google for 1.1 billion dollars.

Despite an unfriendly environment, Ecuador allows for disruptive entrepreneurship on a global level.

The speaker is involved in multiple startups, impacting over seven countries and raising more than 30 million dollars.

Entrepreneurship is a way of life, not just about making money, but about making a difference and making the world a better place.