The power of words is the generic title chosen to cover a series of meetings with major entrepreneurs in a collaboration agreement signed between the hotel chain Novotelof the AccorHotels group, with the Magazine Entrepreneur.
The meeting held yesterday took place in one of the halls of the Novotel Madrid Campo de las Naciones. as a host, Marc Serrols, Operations manager, greeted all those present, to then give way to the meeting of entrepreneurs, whose protagonists were the co-founders of BuyVip: Gustavo Garcia Brusilovsky Y Jose Luis Vallejo.
To appreciate the size of the guests and to motivate the participants, he recalled Alexander VesgaDirector of Magazine Entrepreneur and moderator of the meeting, the company’s success story represented by BuyVip, which was acquired by the multinational in 2010 Amazon, world leader in internet sales. “A turnover of 140 million euros, 7 million active users, a presence in 7 different countries and it is said that it was sold for 70 million” were some of the BuyVip figures pointed out by Alejandro Vesga.
The implementation of the idea is crucial.
García Brusilovsky wished to downplay the feat, recognizing that neither the idea was his own nor the sale easy. “A friend told me about a business model that works in France that consists of selling clothes and accessories online. The project itself fascinated me from the first moment, but I lacked the technological part to implement it. So I called José Luis.”
But if the originality of the idea is not the basis for its success, the “ability to implement” seems to have been decisive. The same business model that works in one market cannot be directly replicated in another. You have to polish a lot of things to make it fit for the new environment. There were more people who tried the same idea, but few of us are still alive,” added the CEO of SingularJose Luis Vallejo.
A promising future
However, none of the speakers were against replicating models that work abroad, especially in a market like Spain, which is facing serious disruptions. “Being an innovator in Spain is much more difficult than being one in the US,” García Brusilovsky said. “Here, the first thing investors want to know is who else is doing the same thing as you and that it’s working for them.” However, he wanted to emphasize that “in Spain, many disruptive ideas have recently emerged at international level, monetized with spectacular operations”.
Both entrepreneurs were very optimistic about the current framework conditions, less in terms of the administrative framework and more in terms of the cultural change that the country has experienced since the beginning of 2015. “Now people are thinking about working as entrepreneurs. I see such an avalanche of entrepreneurship, with prepared people, with bright ideas, confidence and a global vision that strikes me as positive. I believe that there is no one who can stop this because we have a group of entrepreneurs who will have a very serious international impact,” García Brusilovsky predicted.
As a testament to the robust health with which some business initiatives emerge, cases of transactions and exits by Spanish organizations that bring in international funds. However, Brusilovsky indicated that valuations have fallen over the past 4 months, a correction he says is “quite reasonable”. For his part, Vallejo clarified that when someone is selling at a price, it is because someone else is willing to pay it and valuing a business is not always easy. “Sometimes they buy from you not just because of your sales capacity, but because you are able to offer theirs in another market. It’s a way to shorten the path.”
This part also alluded to the case of some companies adopting the strategy Gain traction without having to charge anything. Gustavo García justified this by saying that “sometimes it can be more interesting to be down to earth and create value from that moment. That’s something the investment community respects a lot, what doesn’t work is not having income or traction.”
Regarding the experience of selling BuyVip to Amazon, the achievement was to triple the investment made of 25 million, but they recalled that the path was not easy and that they a eBay counter offer to expedite the multinational’s decision.
Where is there a business opportunity?
Alejandro Vesga wanted to know where the speakers saw a business opportunity at that point. While here Gustavo García stayed more in the technological part of e-commerce with a 100% mobile approach and cloud services, the personal commitment of José Luis Vallejo, also an investor, said that in the last 3 years he had chosen health and biotechnology sectors.
The event, open to the participation of the entrepreneurs present, was dynamic and welcoming. To do this, they had conditioned the large space of the Novotel Campo de las Naciones in accordance with the brand’s line and its concept. EasyLiving with which they want to create close spaces that invite people to participate. The result was a transparent and comfortable assembly that was carried out by today’s standards Arantxa Fernandez Guerra, manager of the hotel. At the end of the meeting, Novotel offered the participants a cocktail that highlighted one of its strengths: restoration.
In this cooperation agreement between Novotel and Emprendedores Magazine announced Alejandro Vesga Upcoming Events similar to yesterday. Next: June 28 in Barcelona.
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