"Entrepreneurship is Not a Matter of Money, It Is a Way of Life" TEDx Quito

Aug 23, 2019 12:00:00 AM

“Entrepreneurship is Not a Matter of Money, It Is a Way of Life” TEDx Quito


TEDx Quito was held for two days at Teatro Sucre, and it brought together important figures who have worked in different social, political, cultural and innovation spheres. They all agree on the same idea of ​​contributing to a better world. This scenario was the right place to talk about disruptive entrepreneurship with one of the best exponents in the area for Latin America: Daniel Wainmann, founder of  Location World.

During an interesting conference, Wainmann shared details of his story as an entrepreneur, leaving in evidence what were the keys that led him to success which he still maintains. In his opinion, for a project to be important and relevant, it must include three very special ingredients which are: innovation; disruption, which must be about something that generates an important or determining change; and impact.

For the founder of  Location World, talking about entrepreneurship in Latin America is still a utopia. This is because the region is not yet entirely friendly towards this issue, with some exceptions such as Brazil, Argentina, Mexico, Colombia, and Chile, which have made efforts and their governments have invested in having these types of environments.

Five Rules for being an entrepreneur in Ecuador and in the world

With over 20 years as an entrepreneur, Daniel Wainmann an Argentine - Israelite, realized that Ecuador allows for disruptive entrepreneurship to happen. In order to do carry this out, it is necessary to take into consideration what he refers as his Five Rules:

  • First rule of the entrepreneur: You must learn to daydream, "unfortunately there are people who do not dream enough and when you do not dream, it does not work. But when you dream enough, the venture becomes good enough".
  • Second rule of the entrepreneur: It is not important to think about the idea we have, what is important is to think about the solution we are going to give. "Because when you think about the solution, you finally have very good ideas", he claims. 
  • Third rule of the entrepreneur: apply 80 - 20 that is, 80% of the time you have to devote to think, generate and evaluate strategies and only 20% of the time is spent on execution.
  • Fourth rule of the entrepreneur: apply 10-10-80, this will have to do with three elements present in the life of each and every entrepreneur: luck, talent and strategy. “Not everyone has good luck, that's why we must allocate 10% to luck.  We must apply 10% to talent, because we do not know it all. However, for strategy, we should devote 80% towards it, because with a good strategy we will compensate the lack of luck and the lack of talent ".
  • Fifth rule of the entrepreneur: Define your objectives and do not allow the results to be confused with these objectives. "We should paint a target to then launch an arrow, that if we do not aim at the center, nothing will happen. We should not throw the arrow and then realize that we must paint a target, because this is a blunder, and I could say that the 80% of entrepreneurs make this mistake."

These are some ideas that Daniel Wainmann shared along his conference at TEDx Quito. He emphasized that even though there are many difficulties that Ecuadorian entrepreneurs may face, the secret to be a good entrepreneur lies in rescuing great values ​​during these problems. "Because entrepreneurship is a way of life, it is not a matter of money. Entrepreneurship is about making a difference and making a better world".

You can watch the conference below