Demystifying the failure of the entrepreneur

This text is published by the Tribune Diario de Sevilla and can be read in pdf here

Demystifying the failure of the entrepreneur

In this day and age is key to have a positive attitude towards error. In Mediterranean countries do not speak of failure, always tend to use the term "bad luck." The Anglo-Saxons the face of a more natural and certainly more practical.

If we venture to write a story of successful entrepreneurs, sure candidates would come up from under the rocks ready to tell his story. It is an attractive picture. If we do high-profile failures, it is possible that we could just answers and people to participate in our history. The failure not only does not sell, is unpopular and no one wants to leave in that photo. Few curricula reflect unsuccessful experiences and that, in my opinion, is wrong.

In Spain, the failure is a stigma. If an entrepreneur is thrown into an adventure and this does not come to fruition, generally do not try again, I would even venture to say that is socially marked. It is a shame and a huge differentiating factor that characterizes our entrepreneurial class in comparison with other countries.

But there are many examples that show us that sometimes sequels were good, Thomas Edison failed thousands of times before finding the ideal filament for his incandescent light bulb. Richard Brandson (Virgin founder) had two failed businesses before enjoying success. Even Google, the Internet giant has developed or purchased projects has had to close due to its low interest, or closer Telefónica and its failed social network Ketek.

All successful entrepreneurs have a "more or less, list of failures behind them. To be more talk about the successes and failures does not mean they do not exist, in fact, you can not understand a brilliant career but is built from the point of inflection of one or more failures. The error is learned, success is enjoyed.

We are in a country where statistics indicate that on average, 80% of new projects fail within five years and 90% is less than 10 years. For entrepreneurs, the reasons for failure are not usually found outside their companies, is in and from within that we must analyze and identify the causes of failure and a large number, the main culprit is the ability of responsible management.

I remember a long meeting with a venture capital fund of Silicom Valley several years ago. I was very surprised when looking at an investment of several million dollars on an Internet project in Argentina, the one rejected by the less curious reason: the entrepreneur had not failed before. I was very impressed and I remember I wanted to dig into the topic. To my surprise, he responded naturally. "It's the best master entrepreneur can do, we have lived profiles, among other, s that experience and have learned from it. Sailing in calm seas is relatively simple, we want people who have sunk and at least once his own ship in a storm. That moment always comes, and if not already done so, could this be the occasion. To return to see us live and learn after that experience, give us more confidence. "

This episode left me thinking. In Spain nobody would have discussed in any case the profile of the entrepreneur as that was what we would not hesitate to call a successful career. The U.S. market saw incomplete and was based on the premise that "always comes failure." The entrepreneur who lives over and over again successful initiatives is nothing more or less bright; is simply very lucky. No one guarantees that if problems crop up your intuition and luck to overcome moments of crisis.

All quite frequently receive invitations to participate in a seemingly safe business within a strongly growing sector with a target ready to purchase, but that is not enough and, does not serve as a starting point, aside from completely define and in depth the Business Plan, there are always variables to be studied in depth, fellow travelers, the time of launch, responsiveness and where we can reach failure. Being aware of our limitations, is the best way forward.

When an error is plugged, it inevitably resurfaces. The key is to not only hide, but to share the mistakes, analyze them and to build from them, live them as one more experience in the evolution of a project and, in any case, as traumatic something to be ashamed.

To err may be a good starting point to start building in the right direction.

Tags: coaching , Diario de Sevilla , Entrepreneurs , failure , failure entrepreneur , Newspapers , stands

Genolab, chapter one

Well, lately I have not wanted to talk a lot of Genolab , but this post should be something like a gun.

I've been working for a year and a half on this project for biotechnology and the Internet to be officially presented next September. Genolab attempt to popularize the field of genetics in prevention, through genetic analysis and a social network based on our DNA. The goal is to help improve the quality of life of people through awareness and prevention of ourselves.

Similarly, Genolab intended to be an Open Source platform for genomic research in Spain. It is a very ambitious and innovative, and above all, is a huge work that lie ahead.

Today we can announce the first round of financing of the company that we founded Maximum Mateo, Dr. José Ignacio Lao Villadóniga and myself.

Matthew takes maximum 33 years in the pharmaceutical industry and has left Juste Laboratories to become the Director General of Genolab.

Dr. Lao is one of the great experts on genetics and preventive medicine, and is the Medical Director Genolab.

I will do the duties of CEO.

With first round of financing is the company gets 1.2 million Euros between equity and debt of the founders, several private investors and family offices, with the newly installed lab, office and backoffice web. The test and testing is done in 1 ½ months ago and we are preparing a production "wholesale" shortly.

Likewise with these funds will complete the staff necessary to develop his project, efforts to add new laboratory science team and our office. If you want to work with us please send your CV to jobs@genolab.com

Genolab has its own laboratory in TecnoAlcalá , technology park of the Community of Madrid in Alcalá de Henares, where is our science team and undertake the work of R & D and our genetic test. The headquarters will be in San Sebastian de los Reyes, Madrid, wall to wall with the offices of Entertainment Networks.

This is a very special project which I hope will be widely discussed and that we have, since the maximum, Ignacio and I started working on this one and a half ago, many hopes.

To read the press release of the funding round, which was distributed today you can see it here.

Tags: DNA , Dr. Lao , financing , genetics , Genolab , genome , Maximo Mateo , social network

2B will participate in the Project BlackBio

I think it's time to become more active in investments, after some months in which he was not in my point of view a lot of sense to move, and especially economic risk-taking, I think we should start doing things, rather than the overall situation, because we are living in fear, we have become accustomed to it.

It is no secret, although it is true that I have been very zealous in what I posted about it, I work for almost 1 ½ years with many others in the draft Genolab , and we can begin to provide information in brief but today does not play, today I wanted to take this opportunity to announce, as was made public yesterday, my participation in another innovator in the field of biotechnology.

I invested in a project that I particularly like, 2B BlackBio , a Spanish biotech company that was created with aim of leading to a scenario of personalized medicine based on genomics and proteomics, and will have as the main market in Europe, Asia and America, it is a company born from Spain with national and international capital and global.

For that reason and that a global approach has been presented Blackbio 2b 1 month ago Forum Deutsches Eigenkapitalforum in Germany, which is very unusual for a Spanish company. Just as participate in a few days Biomedica 2010 . Aachen, Germany.

This first round has closed an extension of 400,000 Euros of private capital, private investors have signed a number of national and international companies. In addition to my shareholding in the company, is a pleasure to be one of the directors of the same .

I think we're at a key stage Biotech companies, just visit USA to see that the line of Internet / technology and Cleantec Biotechnology and is increasingly fine, I would say almost nonexistent. It is an area where you have to be, and also for me to participate has a huge added, the first synergies and partnerships developed with Genolab, and in second case the presence as founder and CEO of Pedro Franco de Sarabia , founder one of the oldest companies in the sector in Spain, BioTools and reference person in the field of biotechnology.

2B BlackBio, will house developments and third, with focus on research in oncology, Wellness, Cardiovascular, Allergy, Microbiology and Pharmacogenomics, using various tools such as protein microarrays, real-time PCR

Currently BlackBio already has signed its first international patent, developed a revolutionary Biokit BlackLight Sepsis Kit (patent PCT ES2009 000 507), which identifies four hours in any bacterial infection, even without any symptoms where the infection could come

Also in short time more will be presented four patents on which the equipment works BlackBio months ago.

S i want you can follow me on Twitter

Tags: 2b blackbio , biotechnology , biotech , blackbio , Genolab , investment , patents , Pedro Sarabia franc

The ICO: dizzy partridge

Tags: 5 Days , Electronic Commerce , Entrepreneurs , ICO , entrepreneurs plan