12 Mar ENFOCUS CONSULTING – FELIPE CORDERO
Enfocus is Instant Consumer Intelligence. We help brands to talk with their clients to know their needs, experiences, expectations and thus know what product or service they can offer, how to improve campaigns, etc.
Enfocus was born in Chile 3 years ago and it has been 3 years of continuous learning, to improve the software according to the needs of the clients, to understand what the users who use our app are looking for and to know better the market given the tough competition that there is SaaS.
Get to know Felipe Cordero, CEO&Founder, and his experience about being a “Eurolatina” startup!
What makes Europe a great opportunity for startups from LATAM?
It was clear from the beginning that the United Kingdom was the market to enter by volume, maturity, a highly developed regulatory framework and treaties at the tax level. For us given our business, and the handling of a huge amount of data and confidential information of our client, it was clear that the UK regulations, so developed in the topic of data protection, information management, etc., were the best framework of action.
What are the main challenges startups are facing when expanding to LATAM/Europe?
I would say that at the macroeconomic level I notice that there is more risk aversion from investors than before. The increase in rates at the global level means that there is a greater scarcity of risk capital available and we see investors more cautious when it comes to investing and taking risks than a few months ago.
· There is a lot of competition in the mobile apps market and that is also a challenge, we have to be very quick hiring the talent we need because “it flies” and as you think, the person you wanted to hire yesterday is no longer available. Startups cannot compete with the large salaries paid by corporations.
· The bureaucracy is always another challenge for the entire entrepreneurial community, getting work visas is a complex issue, among many other things that should be taken into account when expanding a business with a digital base throughout the world.
Key learnings/recommendations for startups planning to enter the LATAM/European market.
· Being an entrepreneur is difficult and you have to fight every day to get ahead.
· Networking 24/7. It is essential to make contacts, have networks, make yourself known, etc. Active networking is a job in itself, it is key if you want to succeed!.
· Find a balance between day-to-day business, serving your customers and the development of new business or new products; it requires a lot of planning.
· Be very active and fast when hiring and firing people for your company. If you find the right person, contract it now! If you have to take someone from the team and let him or her go, do it now!