WEBVTT

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Hello emperors, how are you welcome
to one more edition of CAFI tols startups

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in the BC with Make Buness Flow, where we have as always a great

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character, a great guest, a
great ally, the entrepreneurial ecosystem and will

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entrepreneurship in the world. Expert in
many things, in entrepreneurship, experts in

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business. He has worked from very
large companies to startups that has already launched

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him and that he will talk to
us today our good friend Alejandro Peñas,

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who from Madrid, Spain, accompanies
us to talk to him today and reads

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a little bit his review, who
engineer of telecommunications for the UpM. He

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also worked for five years in the
world of conjuring in Mackenzie and after that

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he was another four years working in
the corporate world for TMF Group between England

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and the United States. After that
period in the world of big business,

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he spent a brief period working on
a startup called Ondtrack and, although it

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did not work as such, it
was the lever to launch himself into the

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world of entrepreneurship, where in the
two thousand eighteen he mounts two planes as

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a partner that is a construction company
focused on the world of detail reform and

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after that, three years later he
remains as a single partner and continues to

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grow to the company, until reaching
the twenty- three employees and six seven

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million euros of affection in two thousand
twenty- three, opening office in Malaga,

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Spain at the beginning of the two
thousand twenty- four, but from

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the two thousand twenty- three he
combines the leadership of two planes with the

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launch of first, a project focused
on the formation and accompaniment of the SMEs,

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as they hear it and as they
see it This is Alejandro Peñas who

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accompanies us today and before talking about
these, of the welcome also to our

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friend Karina Razic and to the taste
of Kinnin, who accompanies us, does

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not talk about how boys are happy
to be here again and above all with

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Alejandro. So thank you very much, moving away from participating, so,

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comrades, we started welcome to Star
Cups Copy Tolks, the first podcast designed

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by the incubator and accelerator Stark Cups
and conducted by Alejandro Lómez. Our main

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objective is to connect more entrepreneurs with
the innovation and penture capital ecosystem in Mexico,

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Latin America and the Ligueon Valey.
As we enjoy a delicious cup of

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coffee together, we begin now.
Yes, welcome, Alejandro Peñas, how

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are you telling us please, where
this character named Alex Peñas comes from,

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who from Madrid, Spain, has
done so much to talk about entrepreneurship as

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they see you in the cooperative world. But how it' s born,

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how you really decide to get into
business. And I know you' ve

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been working for a long time for
a Big Fight company called McKenzie, where

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I' d like you to talk
a little bit about where you come from

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and, above all, I know
where you' re going. So Alex

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is welcome to this Stark of PS
Tolks program. Thank you very much to

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Alexander for an enlarged question. Look
I tell you why I started or how

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I started in the business world,
because I study telecommunications and I, when

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I was seventeen, which is the
phase in which you decide what to study,

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I had the doubt whether to throw
in the life of engineering or on

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the path of business. I always
liked riding things there. I liked including

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you when I was younger and I
decided because I said Mira, I can

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do engineering and if I' m
wrong, then I do a master'

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s degree and business study. Otherwise, I think it was possible and well,

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I didn' t finish more or
less right because I studied engineering.

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He didn' t convince me and
I said look, let' s go

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to business life and do a master' s degree. In fact, in

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the last year of career I studied
a master' s degree that was a

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bit of a bridge, was a
master in strategy of new technologies. Then

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I went from the technical part to
the more management part. And at that

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time the world of consulting, as
it seemed like a great opportunity to learn

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from business in a very wide way, to discover different industries, to work

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with very good people, to learn
from them. And it was a first

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great experience for five years working first
in Spanish or in England. If you

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want, I' ll follow a
little how it came to this day.

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But the world of consulting, what
took me was to work with the hand

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of big companies and hence, when
I spent a few years of that consultant

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I wanted a little more action,
because the consultancy did not stop being to

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make recommendations. And well, what
happens when you run. And that'

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s why, after those years,
I went into the corporate world. Why

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corporate at that time, because it
was the natural thing, the most common

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thing when you were in the consulting
world working for large companies, because the

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most normal thing was to make the
leap to the big company. We'

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re talking about two thousand thirteen.
The world of startups still perhaps in Europe

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was not so developed and it was
very normal that the one who worked in

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consulting passed to the big company and
the truth I had a good time.

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I was working between England, after
the United States, four and a half

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years, working in a large company
with nine thousand employees and was fortunate enough

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to work near the management team and
to have access to positions of some leadership.

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Although I was a young man at
the time, but I arrived in

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Miami, I was responsible for the
Central American and Caribbean area. In fact,

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he was traveling a lot to Mexico. We had him there in an

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office with a hundred people and we
really had a lot of trouble. Then

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I spent the day between Miami and
Mexico and learned a lot there. I

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learned more from very good bosses,
but I felt a bit like going back

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to Spain. And then, at
that time two thousand seventeen, I had

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the opportunity to join a status in
Madrid, in the world I was doing

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for maybe some kind of truck Uber. It' s called a track and

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I came as a business responsibility in
Spain. The thing didn' t play

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and I said look, now or
we' ll never start what happens when

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you' re working in the world
of big business it' s very difficult

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to jump into entrepreneurship, because that' s what you say the opportunity cost

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pays you very well, you pay
very good salary and you say hey I

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' m going to stop charging this
and put me to zero tomorrow. Besides,

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at that time I had a baby
on the way back in the second

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then, well I got fired back
then and I said Mira, it'

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s time. And that was my
hard one. It makes my first company,

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in the 18th plan is the construction
company, I set it up with

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a partner, with the idea of
improving a little what I was already observing

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as a customer, which was the
world of reform in Spain. In that

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case, although then I' ve
already learned that I' ve really passed

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the same place almost everywhere. WOW. And, yeah, there' s

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already five and a half years to
set up the company and make it grow.

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And along the way, then,
according to the company, it has

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been settled, for I have been
able to devote the time to the second

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project. First of all, years
and a half ago, to support small

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business as the PIME world. I
think he' s there, there'

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s little talk about him and he
lends himself a little sele gives little affection.

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And as in the constón, I
have seen myself surrounded by pynes all

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day, both from my suppliers,
in my competition to one of my clients,

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but an architecture studio. I have
seen the difficulties of small business and

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to make it do a small project
and I appear some idea of a project

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to try to support and collaborate with
small business, Well how interesting the topic

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is, because I am still very
intignant with you with which you talk to

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me. Like you, I lived
that subject of studying engineering. I first

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studied four years as an engineer.
Number of engineer I changed at the end

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of the world, business, you
marketing. I realized it was better for

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that subject. Creativity was more my
thing than engineering. But it was because

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from also very young, I went
to work on the topic of the radio

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and I realized that good. Now
I do, though not literally on the

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radio, but the topic of communication, entrepreneurship, but whenever you see with

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the desire to consult and you are
right. The conltura is very funny.

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But it simply gives recommendations when you
enter the challenge of you to live that

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same world of entrepreneurship and to say
ah gee not only the recommendation lived to

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the man what you are going to
do, you do not have to live

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or to learn it very bad,
that you tell me and what I would

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like to enter with you a context, to open the two planes. I

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know you started your project because you
were working for companies too those issues and

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you decided now I' m going
to do the best, I' m

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going to start and I' m
going to work on two S talk plans.

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Really how this project is born,
two plans and at what point you

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decided to leave Mackenzie to enter this
project. The move to the plans occurs

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when I am in Spain at that
time I had been in this startup for

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months that doesn' t work the
thing, then I was already in a

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position to be basically jobless. The
most normal, the most common thing with

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my profile would have been probably to
return to the coprobative world. It had

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been ten years for me and after
having a bad experience in the startup world,

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perhaps the most logical thing would have
been to go back to a company.

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But always, I always had a
little entrepreneurial restlessness and at that time

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I put several ideas on the table
and well, we can throw it down

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the startup way. When I say
I' m going to start, I

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mean a project that withdraws to funding
to grow a high pace that then,

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because that' s looking for round
of funding and I said Mira. I

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don' t fancy that model,
because it came from an experience right where

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it was a startup that had grown
too fast, too soon. And well,

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I went out a little bit with
the choice learned from trying to look

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for something different and it seemed to
me that setting up a zero company,

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that is, without presence of correction
going a little bit to polmon, it

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seemed to me that it was what
attracted me most in the long term,

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that I think a very important difference
between the world pimn the world of startups

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is been horizon, temporary. I
think the startup that starts I think has

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in mind I want to break a
market, I want to grow this all

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speed, accompanied by investors and powerful
equipment. And the normal thing is that

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these companies go well, because at
the age of five or ten, they

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come pay the bag while riding a
pynet. In my opinion, to look

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for a project of life from a
professional point of view, i e I

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am going to create a project.
And well, in my case, I

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hope that it will pass through generations. Am seems very nice to me.

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So a little romantic. When you
see a company that says it is a

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third generation, he said he was
cool to see how a project started sixty

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years ago, already passed by grandparents, parents and the new generation are getting

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into business. I like the idea. I know it' s not going

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to be a lot of challenges,
but good that the decision is passed a

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little bit and why, why in
construction, I had no idea of construction,

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but I was reforming the house with
my wife and the reform sector,

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the construction in general and the reform
in particular, it' s a sector

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that I think is unprofessional, it' s a very difficult but very difficult

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sector. I didn' t know
that at the time. I saw the

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unprofessional thing and I saw that I
had many opportunities from that perspective, very

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consulting, not from outside, not
that you say look here someone comes one

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day. There' s no one
in the day. The next day someone

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shows up and then he doesn'
t come back and you say here a

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fifty percent chance to improve those caus
It' s fast we do sometimes as

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consultants. Then I said good.
Okay, here' s a chance.

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A large market is a market that
will not disappear in the short or medium

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term. And there I threw myself
with a partner who was the person who

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had reformed our house, trying,
therefore, to lay the foundations of a

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modern project and to always seek,
for what I say the continuous improvement,

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that makes that little by little,
because you can differentiate yourself from your competition.

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That was a little reason to start
on two planes you put, always

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in the center of business finance.
Then I' d like you not to

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tell me why there' s a
visitive publication making a little time where you

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have the finances in the middle and
around operations, marketing, etcetera, etcetera.

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I' d like you not to
source or why you think finance is

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at the center of business. At
first we organized the company around five pillars.

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So we talk about strategy, we
talk about the commercial area, the

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equipment, the operations, the finance, so, when I tried to represent

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those five pillars, for me they
have a sequential order, that is,

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strategy. For me it is the
starting point, because without strategy, because

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it does not know what you do, or why or how you differ.

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After the strategy, I think the
next step for me is a logical point

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of view, is commercial. If
you don' t sell a euro,

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because it' s already true and
good, you sell a euro which is

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the following, because you sell a
little more, because you have to hire

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equipment. All right, you already
have business strategy, team and as the

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team grows, because you have to
lay the foundation for a solid operation,

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operations and finances, because for me, the bonds, then, for me

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there is a sequence of those four
pillars, it is four areas and that

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passed the bonds that for me are
continuously at the center of the challenges,

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that is, each of these four
hours that I write. I think they

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need to be reasonably attacked. Sequently, although you' re always going to

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have a team challenge, even if
you' re already trying to improve processes,

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but finances from day one or you' re very careful with the business

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model, or it won' t
work when you' re growing up as

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you' re not able to sell, because you' re going to break,

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but as fast sales, you can
also break then. For me finance

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is that piece of the five that
you have to keep an eye on it

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all the time. Continuously it can
take you the Not that the bond takes

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you to the fret of the company
is that if you do not have enough

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attention to the finances of your company, the prodidos can end you at any

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time, then carry very badly,
as if you are going very well.

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And that' s why we put
it in the center, because you can

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never stop thinking about it. Usually, a pima, when it starts,

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usually starts to work with the gesture
shop because the accounting part is not optional.

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The accounting part is a regulatory issue
and you need someone to do the

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accounting part as well as the tax
part as labor. So there' s

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your partner, who is the gestoria
and the small entrepreneur, usually doesn'

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t have a strong management training.
So I think that, in a slightly

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wrong way, he considers gesturery to
be his financial parnel and that is not

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entirely correct. The story. It
can help you to present, therefore,

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the accounting accounts, to present taxes
for payrolls, but it is not that

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person who will necessarily help you,
to prepare a budget, to understand that

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they will have challenges in your box
within three or six months. So I

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think there is a very strong lack
of support for small businesses. From the

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source. I lack support is the
entrepreneur and the one who does not seek

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it. He does not look for
it because he is not aware of the

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importance that finance has for his business, things like really understand from a conceptual

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and then practical point of view,
the difference before an account results and a

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cash flow, which may sound very
obvious to some, but a lot of

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small entrepreneur does not finish understanding why
I am growing up, why I am

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doing very well, because I am
very profitable and I have no nest in

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an account. That is a tough
challenge or preparing a budget for next year

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and seeing where I have to invest. If I want to grow up,

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then I' ll have to invest
somewhere. They' re the type of

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o. Let' s analyze my
gross image how it evolves, because it

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marges in rutuous is what allows me
to hire people in office. It'

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s going to allow me the day
in a piece of furniture to a bigger

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office. These are concepts that I
in the world of a big company,

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because they are totally out of control
and, that is, you have financial

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departments within the company, be big, with equipment from the control was the

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financial or small company, you do
not stop to think when you are very

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small that I will invest 500 euros
in a strong person that will help me

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to lay the financial bases, it
is not your priority at that time.

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Maybe it was one way. I
always encourage small businesses since they start running

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their business a little bit, to
seek financial help as soon as possible and

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the more, the less prepared one
feels. For the issue of numbers before,

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00:16:30.120 --> 00:16:34.039
it is important that you have that
support. Speaking I have an external

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financial director, because the company does
not give me the numbers to have a

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financial director and full- time would
not make any sense, probably with the

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size of business I have. But
for three years now I have been working

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with an outsider who dedicates me a
few days a week and thanks to that

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because I have a senior external perspective
of someone with experience can help me think

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about business in the medium term.
I know I trade with him, so

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he' s very good. Well
and you realize how finance thinks, because

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not necessarily engaging in the world of
fractional finance as I say part- time

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means that the person knows, not
that, he/ she also has to

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have knowledge of what it means for
a pyne finances. But what happens to

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me many times and I talk with
august a lot and sometimes with aleh is

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that today he made a publication on
Linkedin. That is exactly the subject of

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00:17:30.119 --> 00:17:37.079
the tanicatap of finance. There are
many entrepreneurs who can' t deal with

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the excel sheet beyond you making it
perfect for them. I' ve worked.

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I have, I' ve had
partners and partners where I did the

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forms and there was no way that
they read them and I mean, and

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accept us and explainable. Well,
now let' s go over the valachir

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and we' ll understand each of
these numbers. And it' s very

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difficult. I mean, there'
s a kind of panic tac that grabs

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them when they have to understand the
finance companies that are growing up right now.

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I am working with several companies in
Spain. We' re getting a

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little billed. Facuran well, but
today, for example, I was called

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00:18:15.519 --> 00:18:22.319
by one of the entrepreneurs and she
told me I' m having a panic

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with what you' re teaching me. But not because you teach it wrong

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or because you demand me too much, but because I find it hard to

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understand all this and move it for
the business to offer as having as a

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turning point. I don' t
know if it happens to you, they

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listen to it, you see it. We' ve followed him through the

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work we do. Yeah, yeah, you see, there' s a

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percentage of the population that' s
not a lot of numbers and it'

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s okay. I mean, just
like me, I' m not art

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from artistic elements. I' m
a deniability to paint, to sing,

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to do anything that has to do
with the artistic event. I' m

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an anticus denied and I think I
do, because I think the numeric issue.

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There are people who are not attracted
to them or are not well and

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clear, you put an extel with
an account, results, with forty lines,

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and it should not be obvious.
Yeah, I see it, and

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of course that' s a huge
risk, so that person has to have

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a right hand. It is a
business to someone who does have common finances

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responsibilities, because if not, on
the contrary, it is tereogrific. I

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was listening to cases you' re
talking to a person less close to someone

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who had bought a short- term
debt asset, so I was eating him.

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I was basically eating the debt back. I couldn' t because I

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didn' t, because that was
simply a very bad financial management if I

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didn' t have long- term
debt with an asset that incorporated something of

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a term. They are very basic
things that can throw you away, because

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it was the business, especially businesses
that on top grows more or less fast,

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because I know how to know a
similar case to little by little with

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00:20:03.039 --> 00:20:07.039
a person who comes opening beauty clinics
very careful with that type of growth that

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00:20:07.039 --> 00:20:11.200
requires an initial strong investment, which
then delay openings for a thousand reasons.

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Then he doesn' t come in. Income doesn' t come in when

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you expected, because it' s
three months you can break your east and

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the extels already know how they are, they' re very nice, but

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they don' t work. They' re never real, never mind the

295
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excel you do. I' ve
done a lot. I already realize that

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I am incapable and, moreover,
being aware that of how dangerous the death

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00:20:30.480 --> 00:20:33.599
is, I continue to do it
very badly, especially when they are new

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ideas. Extremely, when you have
a new idea in your head and you

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00:20:37.920 --> 00:20:40.200
try to project it into this one. I' m not going to be

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00:20:40.279 --> 00:20:42.000
conservative in conservative milk. Sales always
start much more. This one you'

301
00:20:42.079 --> 00:20:45.160
re waiting for. You like it
or you don' t like the coastals

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you have there from day one,
because you need it to try to get

303
00:20:48.279 --> 00:20:52.720
the ligros that you don' t
get, then it' s a very

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00:20:52.720 --> 00:20:53.279
difficult exercise, even for those who
reason us. You also like it I

305
00:20:53.319 --> 00:20:56.400
don' t tell you anymore to
make you don' t enjoy it and

306
00:20:56.400 --> 00:21:00.559
it gives you a little favor.
That alexo is very torrent because as a

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00:21:00.559 --> 00:21:04.960
cojutor, a business or entrepreneurship mentor, it has been my turn to work

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with both roads, with startups,
entrepreneurs or entrepreneurs who have time in the

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00:21:10.759 --> 00:21:12.559
work with their SMEs, if you
want to accelerate. But if I have

310
00:21:12.680 --> 00:21:15.839
noticed two different things, at least
finance, for example, when we do

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00:21:15.839 --> 00:21:19.400
the financial runs, be an SME, because it is safer because you see

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historical, you project sales, costs, expenses and more or less it was

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matching up with the caps you put
and that goes at least we analyze them.

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00:21:26.920 --> 00:21:30.440
When it' s a startup that
starts, which is an innovation factor

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00:21:30.799 --> 00:21:37.079
that doesn' t exist in the
market and projects those finances in the long

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00:21:37.160 --> 00:21:41.799
term, you never get the reality
is that they never fit, because that

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00:21:41.839 --> 00:21:45.160
learning curve, which is at the
beginning that is often called the death curve

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00:21:45.279 --> 00:21:51.079
or death fence, where many things
happen. The primer doesn' t visualize

319
00:21:51.079 --> 00:21:53.799
that reality. The market doesn'
t even know them, not because it

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00:21:53.839 --> 00:21:56.240
hasn' t made a mark,
but because the value proposal has communicated to

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00:21:56.240 --> 00:22:02.240
us. Or the market is too
new that it does not adopt this product

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00:22:02.240 --> 00:22:04.359
so fast. But here, speaking
of the subject of entrepreneur, entrepreneur,

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I see two very interesting things.
One is adaptability. The advantage I see

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00:22:08.680 --> 00:22:15.079
in startups or entrepreneurs is that they
adapt quickly to the need to tighten the

325
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belt for many times. They'
re not going to eat, they'

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00:22:18.640 --> 00:22:19.359
re not going to make any profit. You know that very well and well,

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00:22:19.440 --> 00:22:25.640
they have more endurance to get it
out. When I see entrepreneurs coming

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00:22:25.640 --> 00:22:29.839
in the coporative world, as is
your case that I do not see that

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00:22:29.839 --> 00:22:34.039
there is decided like this with you, but I have seen it with other

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people are so used to a good
salary, to a good life, to

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travel, to make big budgets.
So we' re going to sell so

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much and sell so much. And
when it happens in the world of entrepreneurship,

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00:22:44.599 --> 00:22:48.599
that world collapses very quickly. It' s not really that when you

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00:22:48.680 --> 00:22:55.559
say" wow" if it'
s very different to work for a company

335
00:22:55.839 --> 00:22:59.160
established for many years to undertake this
project that with this ideology, doesn'

336
00:22:59.160 --> 00:23:02.559
t work quickly. In your case, it was your job to make those

337
00:23:02.680 --> 00:23:04.599
mindset changes, to say, to
be in the coporative world. Let'

338
00:23:04.640 --> 00:23:11.039
s call the less comfortable part of
being a startup emperor more comfortable. You

339
00:23:11.079 --> 00:23:17.119
got that exchange. I think it' s inevitable, the shock, the

340
00:23:17.200 --> 00:23:23.279
big company show. The annoying thing
is that when you invite yourself to your

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00:23:23.359 --> 00:23:26.759
big business career and work around for
a few damages, you' re not

342
00:23:26.759 --> 00:23:30.240
aware of what you' ve got, you' re not aware. Then

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00:23:30.279 --> 00:23:33.640
you leave the big company and start
a company and what I do in the

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bad. How nice it was to
have paid the payroll and at the end

345
00:23:37.720 --> 00:23:44.759
of the month that was wonderful.
Now, if the first few years,

346
00:23:45.400 --> 00:23:48.720
if you get something at the end
of the month in the box, it

347
00:23:48.720 --> 00:23:53.880
' s already one. Then I
think there are a number of things going

348
00:23:53.880 --> 00:23:56.799
on there. On the one hand, usually, the person who comes in

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00:23:56.920 --> 00:24:00.559
the corporate world and who is well- off has also I think that an

350
00:24:00.599 --> 00:24:04.720
older age, then has already settled
in. And when you get settled back

351
00:24:06.000 --> 00:24:11.480
what you already have. That is
very complicated the one who undertakes directly,

352
00:24:11.480 --> 00:24:15.440
because by definition, it will be
younger and easier, because having a very

353
00:24:15.559 --> 00:24:19.319
austere life when you are not young, very young, than getting used to

354
00:24:19.359 --> 00:24:25.319
having a great apartment, having therefore
travel up down every day and, suddenly,

355
00:24:25.400 --> 00:24:26.680
not being able to continue doing it. Then the shock. I can

356
00:24:26.720 --> 00:24:33.400
see it very clearly there. Hey, there' s one topic I see

357
00:24:33.480 --> 00:24:37.000
interesting because I' ve had to
work with many emperors in Spain. I

358
00:24:37.119 --> 00:24:41.759
feel my perspective. As a Mexican, I have had to bring in Silicon

359
00:24:41.079 --> 00:24:45.200
Valley and also in Mexico and there
is a lot of Spanish doing entrepreneurship outside

360
00:24:45.200 --> 00:24:48.759
of Spain. That tells me that
Spain is a great entrepreneurial world, a

361
00:24:48.880 --> 00:24:53.000
great country that wants to undertake.
It' s your perspective on Spain and

362
00:24:53.079 --> 00:24:59.200
the entrepreneurial spirit. Well, good
question, I don' t think we

363
00:24:59.319 --> 00:25:04.960
' re in valleys yet. The
entrepreneur is still a little more fond of

364
00:25:06.000 --> 00:25:11.079
him when he embarks on business.
I believe the entrepreneur much less. In

365
00:25:11.160 --> 00:25:17.519
Spain, at least the entrepreneur is
very often associated with employee primer, with

366
00:25:17.640 --> 00:25:26.319
wanting to enrich himself at the cost
of giving the ball with the image of

367
00:25:26.400 --> 00:25:30.920
those cases that have really been like
this, which have not been the best

368
00:25:30.960 --> 00:25:36.559
examples of entrepreneurs. That' s
a perspective, a perspective of vision within

369
00:25:36.599 --> 00:25:40.720
society. And here you start in
a startup way, that' s still

370
00:25:40.759 --> 00:25:44.920
very cool. So that says it
looks good and I learn it a SME

371
00:25:44.920 --> 00:25:48.480
and I try to give it a
little color there in Linkedino, because I

372
00:25:48.720 --> 00:25:56.359
think it' s just like saying
challenger that I set up a startups and

373
00:25:57.000 --> 00:26:03.519
sees the same recognition then from there
Spain, and not just Spain, I

374
00:26:03.960 --> 00:26:06.799
think they are countries where it is
difficult to undertake. It' s a

375
00:26:06.880 --> 00:26:08.519
point of view. One of the
biggest challenges is the issue of hiring and

376
00:26:08.640 --> 00:26:17.799
answering is a very complex issue when
you have regulations that are very supportive of

377
00:26:17.880 --> 00:26:22.319
the employee and probably for good historical
reasons, but perhaps no longer such a

378
00:26:22.440 --> 00:26:26.599
good reason. Today, it is
very difficult to make the decision to incorporate

379
00:26:26.640 --> 00:26:32.000
employees into the company, both labour
costs and then the difficulty of firing even

380
00:26:32.480 --> 00:26:38.359
of necessity. I' d tell
you, even in case of poor performance,

381
00:26:38.799 --> 00:26:41.119
they' re complex processes. They' re getting more and more challengers

382
00:26:41.640 --> 00:26:45.359
and that puts a lot of obstacles
on you when it comes to wanting to

383
00:26:45.359 --> 00:26:51.240
grow up and hire. Then I
would not say that it is a country

384
00:26:51.279 --> 00:26:56.519
especially like saying that facilitating understanding is
a shame. Then it is reflected in

385
00:26:56.559 --> 00:27:03.440
the mentality of many Spaniards who do
not necessarily seek entrepreneurship. Then they'

386
00:27:03.519 --> 00:27:10.519
re in studies in the past that
there' s a lot of Spanish they

387
00:27:10.960 --> 00:27:12.559
want between official or similar And understanding, I think maybe they see a lot

388
00:27:12.559 --> 00:27:15.759
of Spanish. That way, because
the difficult thing in Spain, goes to

389
00:27:15.799 --> 00:27:18.799
the United States, to Mexico to
undertake. There' s a little,

390
00:27:19.000 --> 00:27:25.519
a pity. I think you can
make a better country interesting. There is

391
00:27:25.599 --> 00:27:29.319
one subject that I have also seen
a lot about Spain, especially in Mexico.

392
00:27:30.039 --> 00:27:33.920
I heard a subject I think in
a document, documentary or magazine I

393
00:27:34.000 --> 00:27:37.400
don' t remember well, but
I know that in Spain it is forbidden

394
00:27:37.480 --> 00:27:41.559
to start in garages, when,
for example, in Silicon Valley, because

395
00:27:41.640 --> 00:27:44.480
everyone is born in a garage.
Apple, Google, Facebook was born in

396
00:27:44.480 --> 00:27:48.279
garages. What reason do you think
you consider a country like Spain, even

397
00:27:48.720 --> 00:27:52.559
in Mexico, is the same,
although it is not as such and legal.

398
00:27:52.680 --> 00:27:56.079
The issue of starting in garages is
not really a very good breeding ground.

399
00:27:56.599 --> 00:28:00.400
Mexico to undertake. There are possibilities
of there, but it doesn'

400
00:28:00.440 --> 00:28:03.359
t have the capabilities that your torrent, for example, a California, where

401
00:28:03.440 --> 00:28:10.400
everyone is enterprising or seen European countries
like Finland Switzerland, who really like entrepreneurship

402
00:28:10.480 --> 00:28:14.759
and from the government, push everything
to do it. What do you think

403
00:28:14.799 --> 00:28:18.240
about these policies in Spain, where
it is forbidden to undertake in a bucket.

404
00:28:18.440 --> 00:28:22.039
This is, this is real.
I hadn' t heard it.

405
00:28:22.359 --> 00:28:26.279
He' s heard a lot of
stories from the American who set out in

406
00:28:26.279 --> 00:28:30.279
the garage. I hadn' t
heard the stories in Spain. In Spain

407
00:28:30.319 --> 00:28:33.400
most people live in an apartment,
they don' t have a garage.

408
00:28:34.559 --> 00:28:40.640
I had not had policies against entrepreneurship. The one with the garage, usually,

409
00:28:41.000 --> 00:28:42.640
has a house and in a house
that I refer to a chalaine,

410
00:28:44.039 --> 00:28:45.839
a family member, with which I
think he can learn in his garage.

411
00:28:47.720 --> 00:28:49.519
I don' t think anyone will
tell you otherwise. Another thing is that

412
00:28:49.599 --> 00:28:53.559
there is not much support for entrepreneurship. That' s what I buy from

413
00:28:53.640 --> 00:28:59.440
you, and I always say one
thing is that small business is treated like

414
00:28:59.480 --> 00:29:03.079
it' s a company. It' s the rules, it' s

415
00:29:03.079 --> 00:29:06.839
almost the same. The tax regime
is almost the same. I say almost

416
00:29:06.880 --> 00:29:11.039
the same, for example, to
pay less taxes for the first two years,

417
00:29:11.240 --> 00:29:14.359
the first two years, practically does
not give the benefit. Well,

418
00:29:14.640 --> 00:29:17.240
then, there' s a little
advantage. But as you grow a little

419
00:29:17.240 --> 00:29:21.319
bit. I have the situation myself
of growing up and finding myself in which

420
00:29:21.359 --> 00:29:25.799
I am paying much more taxes than
I am bringing into my literal pocket because

421
00:29:26.480 --> 00:29:30.440
I have no money in the bank
account to do both, i e,

422
00:29:32.359 --> 00:29:34.680
or paying taxes, because I have
given a profit, but the benefit I

423
00:29:34.680 --> 00:29:37.440
say last year I do not have
that child in a bank account and that

424
00:29:37.519 --> 00:29:41.880
is sometimes not understood. Then I
have to pay myself fifty zero euros of

425
00:29:41.960 --> 00:29:45.519
taxes or seventy zero and I haven' t paid that money in my pocket.

426
00:29:47.240 --> 00:29:51.839
Then how could I be paying more
taxes? That in an individual is

427
00:29:52.079 --> 00:29:56.599
not given. In an individual they
retain him with a percentage of what they

428
00:29:56.599 --> 00:29:59.640
do. Here that you can find
this situation and especially hard, it seems

429
00:29:59.680 --> 00:30:03.519
to me that it is a small
company and I think that there, then,

430
00:30:03.759 --> 00:30:08.160
would have wondered if there can be
no progressive regimes like the one that

431
00:30:08.359 --> 00:30:12.119
gains grinding two hundred and zero euros
has from the fifty zero has a marginal

432
00:30:12.160 --> 00:30:15.319
tax of forty- five to forty- seven fifty percent and it is not

433
00:30:15.359 --> 00:30:18.200
the same as the one that gives
twenty zero that maybe they do not stop

434
00:30:18.599 --> 00:30:22.640
anything, because I think that the
small company should be facilitated, especially when

435
00:30:22.640 --> 00:30:26.200
you are creating employment, you are
leaving employment, because hear support because this

436
00:30:26.240 --> 00:30:30.880
company is investing not in that growth, because no, no, do not

437
00:30:30.960 --> 00:30:33.319
put the entrepreneur between the sword and
the wall of having to pay too little

438
00:30:33.799 --> 00:30:37.319
and living on the limit or paying
the same taxes as if it were a

439
00:30:37.319 --> 00:30:40.640
consolidated company. For example, I
didn' t go to the garage,

440
00:30:41.000 --> 00:30:42.440
I hadn' t heard it.
But the lack of a little support,

441
00:30:42.799 --> 00:30:48.480
better support in the initial stages and
I think it could be improved. I

442
00:30:49.200 --> 00:30:56.079
didn' t want to comment here
in France lately they' re implementing special

443
00:30:56.160 --> 00:31:00.759
policies and there' s no better
question. What differences there Spain, for

444
00:31:00.839 --> 00:31:06.000
startup and for SME entrepreneurship, when
it is already a little more advanced,

445
00:31:06.440 --> 00:31:12.200
because being I incorporated in the ecosystem, I see that there are a lot

446
00:31:12.279 --> 00:31:18.240
of people who do not want to
join as a limited company or limited liability

447
00:31:18.400 --> 00:31:22.640
company or with the types of companies
that exist in Spain, because they find

448
00:31:23.319 --> 00:31:26.839
it very expensive to have a company. Then they' re autonomous. Most

449
00:31:26.960 --> 00:31:33.359
are entrepreneurs, self- employed who
then arrive at a time that has a

450
00:31:33.359 --> 00:31:36.000
limit that, but at the same
time, looking at the taxes they pay.

451
00:31:36.880 --> 00:31:40.759
It is impressive how much taxes are
stopping in Europe in general, which

452
00:31:41.599 --> 00:31:45.799
many countries are changing. For example, France, as I repeat again,

453
00:31:45.519 --> 00:31:52.720
is looking at this policy so that
more new ventures will come to France.

454
00:31:52.960 --> 00:31:56.160
And that moves the economy a little
bit, because in general, what you

455
00:31:56.200 --> 00:32:00.119
see in Europe is a more employee
mentality. That is, people like to

456
00:32:00.200 --> 00:32:05.039
be either a state employee or an
employee of a private company. As you

457
00:32:05.160 --> 00:32:07.440
say, they' ve got everything
figured out, even my husband. I

458
00:32:07.480 --> 00:32:15.160
am married to a Frenchman who comes
to me from an entrepreneurial family and yet

459
00:32:15.200 --> 00:32:19.240
he went to the other side,
as I say, to the employee,

460
00:32:19.559 --> 00:32:23.920
who has everything comfortable to pay for
everything that travels everywhere. He was a

461
00:32:24.039 --> 00:32:30.480
consultant like you, and when I' m working here he kind of doesn

462
00:32:30.200 --> 00:32:34.920
' t understand, as you say, that an entrepreneur has to work much

463
00:32:34.920 --> 00:32:37.359
more than forty hours. It'
s not like that. From now on

464
00:32:38.640 --> 00:32:45.240
I see that it is still in
Europe that that was forgotten. I remember.

465
00:32:45.640 --> 00:32:52.240
My grandparents who came from Spain to
Argentina, both my Croatian grandparents and

466
00:32:52.359 --> 00:32:57.240
my Spanish grandparents worked, but in
a way that I never saw a person

467
00:32:57.400 --> 00:33:01.039
working so hard, and that is
the culture that is forgotten in Europe that

468
00:33:01.119 --> 00:33:06.920
today needs to be recovered and for
that to make it easier. Like you,

469
00:33:07.079 --> 00:33:12.000
you say why so much tax if
I get taxed, because I'

470
00:33:12.079 --> 00:33:14.759
m going to have more money in
the bank, as you say, and

471
00:33:14.839 --> 00:33:17.440
I' m going to be able
to throw more stuff into the company and

472
00:33:17.440 --> 00:33:19.559
I' m going to be able
to grow more. I don' t

473
00:33:19.680 --> 00:33:22.559
know what you think of that vision, that I see it here in France,

474
00:33:22.559 --> 00:33:27.039
too. Well, the tax issue
in Europe, I say, is

475
00:33:27.079 --> 00:33:30.599
terrible in many countries in Europe and
I think it has a very strong impact

476
00:33:30.640 --> 00:33:34.079
on the rate of entrepreneurship and wealth
creation at the continent level. And well,

477
00:33:34.119 --> 00:33:37.960
so I think that in the next
few years we are going to stay

478
00:33:37.960 --> 00:33:43.359
behind, both with respect to the
United States and China, and we are

479
00:33:43.440 --> 00:33:45.880
going to be going further and further
behind, because there are more and more

480
00:33:45.960 --> 00:33:49.200
regulations at European level that are becoming
more and more involved in working and in

481
00:33:49.200 --> 00:33:52.279
being able to create businesses and do
them yourself is regulatory. It' s

482
00:33:52.440 --> 00:33:55.440
all regulation and that at last has
very strong things for the company to comply

483
00:33:55.440 --> 00:33:59.119
with that regulation. It' s
not obvious. I know companies from various

484
00:33:59.200 --> 00:34:01.039
sectors that tell me it is that
for the first company it cannot even start,

485
00:34:01.359 --> 00:34:05.160
they cannot start working because it needs
to comply with such a level of

486
00:34:05.160 --> 00:34:10.239
regulation. That on the food issue, when you think you tell me look

487
00:34:10.280 --> 00:34:14.840
at my sector, all the companies
are being comforted because they can' t

488
00:34:14.880 --> 00:34:19.599
survive small businesses. It' s
an example. So I think there'

489
00:34:19.760 --> 00:34:22.679
s a chip change and fast or
we' re going to have a medium

490
00:34:22.960 --> 00:34:24.360
- term problem, not short-
term, but medium- term. I

491
00:34:24.400 --> 00:34:29.920
think so. There you commented on
the issue of society, which I think

492
00:34:30.360 --> 00:34:32.559
is good in Spain, as reference
There are three million companies. Practically two

493
00:34:32.559 --> 00:34:36.639
thousand nine hundred and half are autonomous. There' s a million zero-

494
00:34:37.000 --> 00:34:43.039
fifths that are autonomous. Well,
it' s a phase there are those

495
00:34:43.079 --> 00:34:45.199
who want to be autonomous and stay
at that point there are those who stop

496
00:34:45.199 --> 00:34:50.000
it. It' s a phase
towards building a project in cheese. It

497
00:34:50.039 --> 00:34:53.079
' s a very complicated fagia,
because at that stage the autonomous, because

498
00:34:53.119 --> 00:34:57.719
he' s usually seeing 27 things
at once. Then it' s very

499
00:34:57.920 --> 00:35:00.199
difficult to do 27 things. Well
one, usually does one or two tests.

500
00:35:00.679 --> 00:35:04.639
Well, when you have to make
the commercial leg on the operating part,

501
00:35:04.800 --> 00:35:08.440
the financial part, it' s
very complicated. Then no. It

502
00:35:08.480 --> 00:35:14.599
is not obvious that they can move
towards consolidating stronger projects. Yes, I

503
00:35:14.639 --> 00:35:17.440
know many cases of self- employed
people who are growing up and remain autonomous,

504
00:35:17.719 --> 00:35:22.199
because they sometimes fail to understand the
advantages of having a society well,

505
00:35:22.480 --> 00:35:27.000
even from a risk point of view. So, fiscally, it doesn'

506
00:35:27.039 --> 00:35:31.800
t change much between those social upheavals. They don' t change the taxes

507
00:35:31.920 --> 00:35:35.760
you pay or don' t really
change us. In reality, when you

508
00:35:35.800 --> 00:35:39.760
are going to build in a society
you have more flexibility to pay yourself,

509
00:35:40.800 --> 00:35:45.159
not even if you continue to grow, because you can set up a corporate

510
00:35:45.199 --> 00:35:46.679
structure that allows you to make investments
efficiently. Physically, then the issue of

511
00:35:46.719 --> 00:35:51.760
society when you start to grow is
a good idea. The costs of maintaining

512
00:35:51.760 --> 00:35:53.280
society are also not great and it
is not a positive issue. It'

513
00:35:53.320 --> 00:35:57.960
s a maintenance issue of creating society, which good is a one- time

514
00:35:58.039 --> 00:36:00.280
thing and it' s also not
an expensive issue and then maintenance that so

515
00:36:00.320 --> 00:36:02.440
you have to keep it and that
can cost you at best a thousand euros

516
00:36:02.440 --> 00:36:07.840
baths. But I think that there
I do encourage that self- employed entrepreneur

517
00:36:07.920 --> 00:36:12.400
who is growing and who has already
put in employees, to think or to

518
00:36:12.480 --> 00:36:15.199
review without setting up a society or
not, and I know of cases of

519
00:36:15.280 --> 00:36:17.360
people who the gestorial tells him no
yes, it is like autonomous who is

520
00:36:17.360 --> 00:36:20.599
more efficient. Again, the gesturing. You have to be very careful about

521
00:36:20.679 --> 00:36:23.559
the type of advice you receive from
a gestoreria can already be very good,

522
00:36:23.599 --> 00:36:29.599
accountingly, not necessarily legally and often
because you have a close deal with the

523
00:36:30.119 --> 00:36:35.079
entrepreneur, they are encouraged to give
a number of opinions. Many occasions are

524
00:36:35.119 --> 00:36:37.519
not prepared for various opinions. We
had a talk doing a lot a month

525
00:36:37.719 --> 00:36:43.079
ago where some lawyers came in and
it was precisely an autonomous woman who had

526
00:36:43.079 --> 00:36:45.480
four employees who already billed money.
I was telling him I don' t

527
00:36:45.559 --> 00:36:46.079
know whether to make a society or
not. I' ve been told no

528
00:36:46.159 --> 00:36:50.480
gesturery and the lawyer said look.
I am very cautious when it comes to

529
00:36:50.519 --> 00:36:53.119
giving opinions, but in your situation
I have no doubt about creating a society

530
00:36:53.199 --> 00:36:57.760
because you protect yourself you are a
legal point of view and, besides,

531
00:36:58.079 --> 00:37:00.000
you will not stop more taxes,
it will cost a thousand years to maintain

532
00:37:00.079 --> 00:37:05.199
it and when you grow up,
it will allow you to do so well,

533
00:37:05.199 --> 00:37:07.280
you are much more efficient, even
fiscal. So that' s where

534
00:37:07.320 --> 00:37:13.519
a lot of things cross in quays. Turning to the general issue, I

535
00:37:14.679 --> 00:37:20.639
think we need, I think I
can reduce taxes so that that money can

536
00:37:20.719 --> 00:37:22.320
be reinvested in the economy. In
the end, what we find is a

537
00:37:23.280 --> 00:37:29.119
very strong tax cup, especially from
the world is hiring. It' s

538
00:37:29.199 --> 00:37:31.800
just that often one says and here' s another challenge, that the employee

539
00:37:31.840 --> 00:37:35.480
doesn' t even finish seeing everything
one is paying in taxes for him.

540
00:37:35.840 --> 00:37:37.559
I have my NPR, I mean, the taxes I pay for my payroll.

541
00:37:38.199 --> 00:37:43.039
And if you see the part or
you' re seeing every day what

542
00:37:43.039 --> 00:37:45.039
you pay for when you make your
sales statement, you' re not necessarily

543
00:37:45.199 --> 00:37:51.239
seeing everything that the company paid for
by you isn' t aware, but

544
00:37:51.280 --> 00:37:53.079
most of it I' m not, and many times you get on with

545
00:37:53.159 --> 00:37:55.719
a ratio almost one to one,
with seven. Then why can' t

546
00:37:55.760 --> 00:37:59.199
you pay better salaries in Spain,
which is one of the most common complaints,

547
00:37:59.440 --> 00:38:02.199
because in part because it costs much
more than the salary that appears in

548
00:38:02.360 --> 00:38:07.440
the contract. So we are in
a dynamic, a little more dangerous and

549
00:38:07.519 --> 00:38:12.519
that does not facilitate anything the development
of new companies, the contracting and,

550
00:38:12.559 --> 00:38:15.199
in the end, the growth of
the economy. I have just seen an

551
00:38:15.360 --> 00:38:20.119
income chart, the product of internal
utrol per inhabitant of the United States versus

552
00:38:20.159 --> 00:38:24.880
that of Europe, taking off like
a Boing 7 and 4 7 aircraft and

553
00:38:24.880 --> 00:38:29.880
Europe flattening. And this has to
do with taxes and it has to do

554
00:38:30.360 --> 00:38:34.559
with the great state structure that Europe
has in general, because both all countries,

555
00:38:35.000 --> 00:38:39.239
almost all countries, have to maintain
schools, hospitals, all health care.

556
00:38:40.639 --> 00:38:45.119
I mean, it' s a
very important cultural change of mindset that

557
00:38:45.199 --> 00:38:46.159
Europe needs, which I don'
t know if it' s going to

558
00:38:46.159 --> 00:38:51.199
make it. It' s very
difficult to compete against America, that everything,

559
00:38:51.679 --> 00:38:54.320
almost everything would tell you that in
ninety- nine plus nine is private.

560
00:38:54.719 --> 00:39:00.320
I think the mail is just not
private. So well nothing to add

561
00:39:00.800 --> 00:39:07.960
last sentence to that is really hard, that is, creating more work in

562
00:39:07.039 --> 00:39:12.599
Europe and raising salaries, as you
just said, when the biggest component is

563
00:39:13.599 --> 00:39:19.239
the tax part. That happened for
a long time in Argentina. Also now

564
00:39:19.360 --> 00:39:22.599
we' re on our way to
lower taxes. I think that' s

565
00:39:22.840 --> 00:39:27.559
going to be an explosion of work, an explosion of production, because what

566
00:39:27.639 --> 00:39:32.480
we need worldwide, I' m
not just saying for Europe or Latin America,

567
00:39:32.639 --> 00:39:37.519
is that the product of internal use
per person grows, because if not

568
00:39:37.159 --> 00:39:40.039
people earn less and less, they
eat worse and worse. I mean,

569
00:39:40.199 --> 00:39:45.280
it' s all a chain that, especially in Latin America that we'

570
00:39:45.320 --> 00:39:51.920
re seeing, that' s not
usual to listen to certain policies that say

571
00:39:52.039 --> 00:39:58.840
these impulsions are necessary to have this
protection for the weak citizen, and I

572
00:39:58.840 --> 00:40:00.760
think that' s not necessarily the
case. I believe that lower taxes can

573
00:40:01.159 --> 00:40:07.199
continue to protect the weak citizen who
needs it. And that' s the

574
00:40:07.199 --> 00:40:10.599
key, because, well, everyone
has their opinion. I do not think

575
00:40:10.679 --> 00:40:16.199
it is necessarily positive that in a
developed country it can hardly be in a

576
00:40:16.199 --> 00:40:21.599
hospital. I don' t see
it right, but that doesn' t

577
00:40:21.639 --> 00:40:24.760
mean that in a developed country you
can practically not work and collect and that

578
00:40:24.760 --> 00:40:29.760
nothing happens. And this situation is
tremendously common in a country like Spain,

579
00:40:29.920 --> 00:40:32.360
which there are twenty zero reasons why
it cannot collect money being able to work,

580
00:40:32.800 --> 00:40:37.239
how it can be that there is
an unemployment with which we in Spain

581
00:40:37.280 --> 00:40:40.639
have the most cars in the European
Union and I know dozens and dozens of

582
00:40:40.719 --> 00:40:46.679
employers who do not find workers.
I myself, how can it be that

583
00:40:46.719 --> 00:40:51.960
people complain because they don' t
find work and I don' t have

584
00:40:51.960 --> 00:40:54.800
construction workers. It' s just
that we' re in a childish society.

585
00:40:55.880 --> 00:41:00.440
You need work. Go work on
a carpenter and this is where you

586
00:41:00.440 --> 00:41:07.159
need labor. Not everyone here finds
their back, their corner so they can

587
00:41:07.519 --> 00:41:12.000
' t want to work. There
are a thousand reasons why you have employees

588
00:41:12.079 --> 00:41:15.880
and suddenly you don' t have
them. I shared the case. Paternity

589
00:41:15.960 --> 00:41:22.119
leave. The ternity in Europe can
go every year. In my spañas are

590
00:41:22.119 --> 00:41:24.639
an hour of six weeks, four
months and I am a father three times

591
00:41:25.119 --> 00:41:32.039
and I honestly four months a couple
both around a newborn child. I'

592
00:41:32.119 --> 00:41:37.360
m sorry, but I think it' s time to go to work,

593
00:41:37.679 --> 00:41:39.440
because besides, when you' re
home, he' s working on your

594
00:41:39.519 --> 00:41:43.559
partner for you, because a person
can' t hire someone in three months

595
00:41:43.719 --> 00:41:45.320
and when I' ve learned he
tells him to leave. There are a

596
00:41:45.360 --> 00:41:47.719
thousand situations that are absurd. Paternity
is now. You can take two weeks

597
00:41:47.800 --> 00:41:52.480
today and two weeks next month from
two weeks to the next. All the

598
00:41:52.559 --> 00:41:55.559
regulations are being developed to create a
level of comfort that we will not be

599
00:41:55.559 --> 00:41:59.599
able to afford. But well,
we already take into account with the time

600
00:42:00.119 --> 00:42:04.760
in Argentina, now that the new
chamos that are passing this on a political

601
00:42:04.760 --> 00:42:09.480
level, how it has also affected
the issue of entrepreneurship on this side,

602
00:42:10.119 --> 00:42:14.679
because comparing it with what Alejandro tells
us in Spain or in the case that

603
00:42:14.840 --> 00:42:17.280
the meetically carina in France, in
Mexico, I see it similar. The

604
00:42:17.400 --> 00:42:23.079
problem with hiring staff is a headache. There' s, there' s

605
00:42:23.159 --> 00:42:28.800
not a design software company there or
a builder. The truth is, it

606
00:42:28.920 --> 00:42:31.159
' s very complicated. In Argentina
the same thing happens to us a little

607
00:42:31.159 --> 00:42:35.199
bit from Argentina as well. At
ease, yes, a little when we

608
00:42:35.280 --> 00:42:38.639
talk to European, especially in Spain. It' s like I feel like

609
00:42:38.840 --> 00:42:42.800
I come from the future and I' m weapons. Swarzeneger' s going

610
00:42:42.880 --> 00:42:45.519
to tell him that all this is
going to happen because he' s talking

611
00:42:46.239 --> 00:42:47.840
to me about things that we live
and well, he was talking about one

612
00:42:47.840 --> 00:42:52.440
to seven. I' ll explain
that quickly. It means that when the

613
00:42:52.519 --> 00:42:57.760
employee receives a thousand, he gets
a thousand seven hundred more, which the

614
00:42:57.800 --> 00:43:02.360
employee also gets. So in all
the parts that you can draw regulations so

615
00:43:02.400 --> 00:43:07.639
that that person in earning a thousand
wins a thousand seven hundred and I don

616
00:43:07.760 --> 00:43:10.239
' t know Alexander pays just two
hundred of that. For example, a

617
00:43:10.280 --> 00:43:15.360
numerical example. In Argentina it'
s only about six, which is a

618
00:43:15.360 --> 00:43:17.519
bit. I think the average,
but Upper Brazil has a lot more.

619
00:43:17.559 --> 00:43:23.719
When I was doing numbers for regionals, it is also expensive to hire,

620
00:43:24.519 --> 00:43:29.079
although it has a lot of hiring
modality, that are good, that in

621
00:43:29.079 --> 00:43:30.599
Argentina we do not have them.
It looks like they' re coming,

622
00:43:31.119 --> 00:43:37.920
it' s really good. Then
we had a bit of a poltio,

623
00:43:37.559 --> 00:43:44.000
but for years we had a de
facto change in the labor market, which

624
00:43:44.079 --> 00:43:51.840
was that they all ended up hired
without the benefits of an economy that looks

625
00:43:51.880 --> 00:43:53.400
like Swedish, with the problems they
have in Latin America. Then he expelled

626
00:43:53.400 --> 00:43:58.639
a lot of people. I think
he had found a balance between that,

627
00:43:59.280 --> 00:44:04.800
because endo finds it the right way
or the wrong way. He ends up

628
00:44:04.800 --> 00:44:08.519
working it out. But, yes, there are many similarities, but to

629
00:44:08.559 --> 00:44:15.079
change a little bit and get out
of politics and undertake durism. I wanted

630
00:44:15.119 --> 00:44:20.119
to ask him why always when I
taught startups and so on. I see

631
00:44:20.119 --> 00:44:23.039
a lot of difference between SMEs and
startup. There' s nothing that people

632
00:44:24.559 --> 00:44:29.559
get confused about. I wanted to
see how I' m going to Alejandro,

633
00:44:29.760 --> 00:44:35.320
if there' s also a change
of mindset, if the two entrepreneurs

634
00:44:35.360 --> 00:44:37.320
are similar and one just want faster
and the other I don' t know.

635
00:44:37.599 --> 00:44:42.039
It' s in a traditional model
that I do. One wants to

636
00:44:42.079 --> 00:44:44.840
change the world, the other doesn' t want to see. In the

637
00:44:44.880 --> 00:44:47.280
world of startup, they are a
woman so much different. I was talking

638
00:44:47.480 --> 00:44:50.719
before the temporal orizon. No,
no, no, no, no,

639
00:44:50.719 --> 00:44:50.719
no, no, no, no, no, no, no, no,

640
00:44:50.719 --> 00:44:50.719
no, no, no, no, no, no, no,

641
00:44:50.719 --> 00:44:50.719
no, no, no, no, no, no, no, no,

642
00:44:50.719 --> 00:44:50.719
no, no, no, no, no, no, no,

643
00:44:50.719 --> 00:44:50.719
no, no, no, no, no, no, no, no,

644
00:44:50.719 --> 00:44:50.719
no, no, no, no, no, no, no,

645
00:44:50.719 --> 00:44:50.719
no, no, no, no, no, no, no, no,

646
00:44:50.719 --> 00:44:50.719
no, no, no, no, no, no, no,

647
00:44:50.719 --> 00:44:50.719
no, no, no, no, no, no, no, no,

648
00:44:50.719 --> 00:44:54.000
no, no. I think they
usually set up a startup. I,

649
00:44:54.360 --> 00:44:59.320
too, create a difference, probably
in entrepreneurship age. I think it

650
00:44:59.400 --> 00:45:02.480
' s very common for the entrepreneur
to be very young. I think there

651
00:45:02.519 --> 00:45:08.000
is an ambition perhaps also linked to
the issue of the less realistic, less

652
00:45:08.000 --> 00:45:12.639
realistic age, which is more ambitious. Let' s just say that he

653
00:45:12.719 --> 00:45:14.760
wants to change the world that sets
up a first, usually, that will

654
00:45:14.800 --> 00:45:20.440
change the world, although then,
the biggest companies in Spain, for example,

655
00:45:21.239 --> 00:45:22.639
were SMEs, that is, you
take the ibex. I don'

656
00:45:22.639 --> 00:45:24.039
t mean the United States, which
there is, which is true, which

657
00:45:24.119 --> 00:45:29.519
is a model where the largest companies
are technological in Spain. There are many

658
00:45:29.519 --> 00:45:31.760
other countries that are not and you
have in the rades of Spain, France,

659
00:45:31.760 --> 00:45:36.760
etc, because you have builders,
you have car companies, you have

660
00:45:37.639 --> 00:45:40.679
INDITEXA companies. In Spain they are
companies that were born Mercadona, for example,

661
00:45:42.199 --> 00:45:44.159
or a cane markets. They are
companies that are na inan like a

662
00:45:44.159 --> 00:45:46.639
first. They were not born in
the spirit of changing the world. But

663
00:45:46.840 --> 00:45:51.559
hey they had a company there,
an entrepreneur with a lot of strength that

664
00:45:51.679 --> 00:45:55.960
they hit with the key in their
space and see where they arrived later the

665
00:45:55.960 --> 00:46:00.440
model, the model extremely different,
because good in one, basically because you

666
00:46:00.599 --> 00:46:04.519
fight to get some funds and with
those funds because you have to go as

667
00:46:04.519 --> 00:46:06.719
fast as possible. Of course,
there, for example, we return to

668
00:46:06.760 --> 00:46:09.679
the subject we were talking about earlier, those exceles that are so unrealistic of

669
00:46:09.719 --> 00:46:13.039
the startup. There' s one
thing going on, and if you don

670
00:46:13.159 --> 00:46:15.079
' t do that extel that shows
you that in four years it has 10

671
00:46:15.519 --> 00:46:20.599
million turnover, nobody invests you.
Then you need esextel to get the investments

672
00:46:20.639 --> 00:46:23.360
and then you' re in one
in a very very complicated loop. Not

673
00:46:23.480 --> 00:46:28.199
because now you have to say it' s in a tremendously uncertain environment.

674
00:46:28.320 --> 00:46:31.000
You have to be able to deliver
a result. They are really ambitious,

675
00:46:31.199 --> 00:46:36.920
to say the least. No.
So you get into one on a tremendously

676
00:46:37.000 --> 00:46:40.519
challenging circuit, having to run,
showing quickly that that works to grow,

677
00:46:42.199 --> 00:46:45.679
so you can raise money the next
round and that do it four or five

678
00:46:45.679 --> 00:46:49.880
times. Not if you do with
the key of the market, you are

679
00:46:49.960 --> 00:46:52.320
with the key of the product and
there is mark fil, because it will

680
00:46:52.360 --> 00:46:53.440
be able to fly the thing ninety
percent, because it does not fly.

681
00:46:53.519 --> 00:46:57.840
And so, in general, because
it ends half- starred, but without

682
00:46:57.960 --> 00:47:01.519
waiting for all the SMEs, because
I am a much less risky environment,

683
00:47:02.199 --> 00:47:06.480
where you do not intend to prove
that you are going to solve a problem

684
00:47:06.480 --> 00:47:09.280
that is not solved. Usually,
they may be exceptions, but if I

685
00:47:09.360 --> 00:47:12.679
come in tomaña in a fruit shop. I' m not going to prove

686
00:47:12.760 --> 00:47:15.440
that people buy fruit that and it' s already proven. That' s

687
00:47:15.480 --> 00:47:16.199
a big advantage. I don'
t have to prove it. It'

688
00:47:16.239 --> 00:47:20.000
s already proven. The prod MARKETFIPT
has already been demonstrated. And what can

689
00:47:20.000 --> 00:47:22.559
I do if I can get in
to improve it, if I can bring

690
00:47:22.880 --> 00:47:27.519
something from another sector to combine it
with this and be able to go further,

691
00:47:27.880 --> 00:47:28.800
I can say that I' m
going to set up a fruit chain.

692
00:47:29.199 --> 00:47:30.800
Well, listen, maybe. You' re doing really well and then,

693
00:47:31.480 --> 00:47:37.360
thirty years later you' ve set
up a great chain of tuterian but

694
00:47:37.400 --> 00:47:39.840
they' re usually rusty, you
call the term rego and that at least

695
00:47:39.880 --> 00:47:45.480
maybe ambitious, at least from an
origin, although then they can actually go

696
00:47:45.559 --> 00:47:51.280
away financially, because they usually go
much more to lung supported by bank debt,

697
00:47:51.760 --> 00:47:53.639
much more common to dilute. It' s also a market, it

698
00:47:53.639 --> 00:47:57.320
' s a company that' s
not liquid. So it doesn' t

699
00:47:57.320 --> 00:48:00.199
make any sense that the investor vetoes
a series that is his cousin and a

700
00:48:00.280 --> 00:48:05.280
millionaire out there, but you don' t usually go looking either and the

701
00:48:05.280 --> 00:48:07.480
valuation of those companies. So,
well, I' m two tremendously different

702
00:48:07.480 --> 00:48:12.679
models. I am, I am
very much pushing him that he who is

703
00:48:12.719 --> 00:48:16.920
an entrepreneur or wants to be.
Consider the chemical model with its advantages and

704
00:48:16.920 --> 00:48:21.840
disadvantages. But when you look at
a time horizon of twenty thirty years seen,

705
00:48:22.079 --> 00:48:25.119
if you want to have a company
of thirty years old, a pyribe

706
00:48:25.159 --> 00:48:29.239
is a fantastic model, it will
be slower at first, certainly, no

707
00:48:29.320 --> 00:48:32.280
doubt, but in twenty thirty years, the Persian will be yours. That

708
00:48:32.400 --> 00:48:35.840
doesn' t usually happen with the
starter knot. It does not mean that

709
00:48:35.880 --> 00:48:37.119
this has gone well, because it
will have many millions of euros in the

710
00:48:37.119 --> 00:48:40.559
bank. That' s not the
shot either. But if you set up

711
00:48:40.639 --> 00:48:46.199
a company and get it you are
like saying you are ambitious and want to

712
00:48:46.199 --> 00:48:51.400
grow continuously, I augure you a
great future because, because it is not

713
00:48:51.440 --> 00:48:53.920
the usual thing for SMEs and MEDIA, because listen, because it is on

714
00:48:54.159 --> 00:48:58.280
the market, but they do not
usually have an ambition to do one by

715
00:48:58.280 --> 00:49:00.880
ten to ten years of sight.
It' s not usually you have ambition

716
00:49:01.239 --> 00:49:06.119
and you' re growing up,
continually reinvesting. You can be really far

717
00:49:06.119 --> 00:49:09.440
away. In addition, circumstance that
you can go on the way buying other

718
00:49:09.440 --> 00:49:13.519
companies, because those previous ones are
taking care of themselves. Many of the

719
00:49:13.639 --> 00:49:17.000
children are not on the sides so
I' m a story at twenty,

720
00:49:17.320 --> 00:49:20.840
thirty years. Since that' s
not very fashionable, I think it can

721
00:49:20.840 --> 00:49:23.920
be very pretty for whoever wants to
start. Yeah, no doubt, it

722
00:49:23.960 --> 00:49:28.599
' s time for us to be
topisting everything. We don' t want

723
00:49:28.639 --> 00:49:32.800
everything to be exponential at ten x
raise capital with rounds every year. The

724
00:49:32.840 --> 00:49:36.519
reality is that there is still a
great opportunity for the pines. As you

725
00:49:36.599 --> 00:49:38.079
say. This is where he is
born first that he prays. I would

726
00:49:38.159 --> 00:49:43.119
like you to really give us what
is the reflection you have learned with first,

727
00:49:43.320 --> 00:49:45.800
because I do believe that innovation does
not always have to be disruptive.

728
00:49:45.960 --> 00:49:49.239
It is also a gradual innovation where
you hear. If he does it right,

729
00:49:49.400 --> 00:49:52.719
I can do it better, without
becoming a complete disruption in not breaking

730
00:49:52.760 --> 00:49:57.760
markets. Then there is always an
opportunity for an SME that can improve things

731
00:49:57.840 --> 00:50:05.119
as they are today. How has
it worked for you to share best practice

732
00:50:05.159 --> 00:50:09.920
experiences with the other companies that ask
for your support first and he starts because

733
00:50:10.159 --> 00:50:15.440
I found, as I think,
as a company that I consider the plans

734
00:50:15.440 --> 00:50:22.840
an SME. It was not easy
to find training and support focused on SMEs.

735
00:50:22.480 --> 00:50:27.159
When a moment in a startup is
quite simple. I think there is

736
00:50:27.159 --> 00:50:30.880
an ecosystem around the startup that can
accompany you if that' s what you

737
00:50:31.840 --> 00:50:34.079
' re looking for in the first
place. It' s not like that.

738
00:50:34.119 --> 00:50:39.639
I did not find a major lack
of training in management issues adapted to

739
00:50:39.679 --> 00:50:45.320
small business or an example, very
silly of who can teach you how to

740
00:50:45.400 --> 00:50:52.679
recruit, because when you are a
multinational, recruiting is one thing. When

741
00:50:52.760 --> 00:50:57.719
you have five employees, no brand, you' re absolutely no one else.

742
00:50:58.599 --> 00:51:04.079
Where we talk about recruitment for an
SME. I haven' t seen

743
00:51:04.159 --> 00:51:07.480
a lot of people talking about these
issues. So first you try to attack

744
00:51:07.559 --> 00:51:13.000
that space, look for SMEs that
have ambition to grow that there are and

745
00:51:13.480 --> 00:51:19.480
that their founders have certain shortcomings.
In what is management. It is the

746
00:51:19.480 --> 00:51:22.119
logical and normal thing that is very
good at making wooden tables, because usually

747
00:51:22.199 --> 00:51:25.599
it does not know much about management, because it has dedicated its time to

748
00:51:25.599 --> 00:51:29.400
learning carpentry, just as it is
about managing companies. He can' t

749
00:51:29.400 --> 00:51:34.480
make wooden tables. Both things happen
then, because we look for those small

750
00:51:34.559 --> 00:51:37.119
companies, because we work with emplesas
between five and thirty employees, usually with

751
00:51:37.159 --> 00:51:43.679
ambition to grow, with a certain
good, since potential to learn management tools

752
00:51:43.920 --> 00:51:49.800
of the big company applied or adapted
to the small one. Talking, for

753
00:51:49.800 --> 00:51:54.960
example, about an organizational chart or
organizational structure is a tremendously trivial concept in

754
00:51:55.079 --> 00:52:00.280
big business not only that, but
you have a human resources department. Small

755
00:52:00.480 --> 00:52:02.079
business. When you have ten,
fifteen, twenty employees, you don'

756
00:52:02.119 --> 00:52:07.800
t have a human resource person,
you can' t pay for it practically

757
00:52:07.880 --> 00:52:10.599
ever, and I' m not
saying it' s the function of that

758
00:52:10.599 --> 00:52:12.760
human resource person to design a constructive
one. But the founder also doesn'

759
00:52:12.840 --> 00:52:15.519
t know what a design of an
eye- catcher is either. So give

760
00:52:15.559 --> 00:52:19.840
those tools, teach what it means
in your company, how could you design

761
00:52:19.880 --> 00:52:22.320
it, how can you think about
your company? Three years of sight are

762
00:52:22.360 --> 00:52:30.039
silly examples, but really necessary to
be able to share such tools with small

763
00:52:30.079 --> 00:52:34.360
business. And that' s where
we are, with our first focus.

764
00:52:35.679 --> 00:52:37.920
Like that, I' m talking
about the financiers we talked about earlier.

765
00:52:37.119 --> 00:52:43.199
How to make a budget, how
to think about how to have a cost

766
00:52:43.199 --> 00:52:45.280
reduction mentality is that you can do
every three months to just your costs,

767
00:52:46.039 --> 00:52:52.320
or how can you think about when
to discount bank funding when you don'

768
00:52:52.320 --> 00:52:55.159
t? Why are these questions for
us, because they are very basic,

769
00:52:55.519 --> 00:52:58.519
but for that he has a small
business and it has not been financial,

770
00:52:58.840 --> 00:53:02.320
because they probably are not so.
Before querina asks you the last question,

771
00:53:02.840 --> 00:53:07.400
alex I' d like to ask
you for recommendations. We are being seen

772
00:53:07.440 --> 00:53:12.599
in this program by entrepreneurs from Mexico, Spain, France, Argentina and other

773
00:53:12.679 --> 00:53:16.360
countries that dominate such as Chile,
Peru, among others. But I would

774
00:53:16.480 --> 00:53:22.400
like you to be heard watching us
give an important recommendation that both startup emperor

775
00:53:22.400 --> 00:53:27.320
who is beginning as that SME that
occupies support. What you can tell her

776
00:53:27.360 --> 00:53:30.719
as a recommendation to what she focuses
on these days. In the end,

777
00:53:31.000 --> 00:53:36.079
when you have undertaken it or you
are in understanding, you can usually learn

778
00:53:36.119 --> 00:53:42.119
the ways or crash over and over
again, or you can try to look

779
00:53:42.199 --> 00:53:45.360
for ways and not crash. And
one of the best ways and I think

780
00:53:45.480 --> 00:53:49.320
to avoid when I' m going
to you, I mean basically to make

781
00:53:49.400 --> 00:53:53.679
mistakes and learn from tropics. One
of the best ways to avoid those or

782
00:53:53.719 --> 00:53:58.280
to reduce the number of mistakes is
to find someone who passed by three four

783
00:53:59.239 --> 00:54:01.599
years ago, I don' t
say twenty years ago, because there they

784
00:54:01.679 --> 00:54:06.199
have already been able to forget what
that situation was like. But the one

785
00:54:06.280 --> 00:54:09.119
who was like you three years ago, try to find someone who made you

786
00:54:09.199 --> 00:54:14.480
a cable, the one where you
want to be in four or five years,

787
00:54:14.679 --> 00:54:16.719
come closer, try to get me
to make you a fit, because

788
00:54:16.760 --> 00:54:21.320
it can avoid huge mistakes and I
see him every day in the first few

789
00:54:21.320 --> 00:54:24.559
years. This is about the imposter
syndrome that comes a time when you in

790
00:54:24.599 --> 00:54:29.320
your head have a series of things
in your head that you consider so obvious

791
00:54:29.880 --> 00:54:32.000
that not so they have value.
And I, when I talk to entrepreneurs

792
00:54:32.039 --> 00:54:36.320
who are starting out, I say
things for a couple of years and tell

793
00:54:36.320 --> 00:54:38.960
you what a good idea. The
truth. I don' t think so.

794
00:54:39.519 --> 00:54:44.480
I don' t think so because
I' ve already given myself three

795
00:54:44.559 --> 00:54:46.559
heads against that problem. The third
one has already been well recorded and it

796
00:54:46.760 --> 00:54:52.320
is no longer obvious to me then
to try to reduce, not eliminate,

797
00:54:52.960 --> 00:54:57.199
but to reduce the number of times
we are wrong and to have someone.

798
00:54:58.039 --> 00:55:01.079
That, then, the word of
my environment important mentors to me because it

799
00:55:01.119 --> 00:55:05.280
has passed by. I think it' s something I was wrong there.

800
00:55:05.840 --> 00:55:09.079
In my case, don' t
look for that figure. He said figures

801
00:55:09.239 --> 00:55:13.280
and I think he could have helped
me a lot now. Now look at

802
00:55:13.280 --> 00:55:16.960
what he did much more in different
ways, formal and formal, but something

803
00:55:16.960 --> 00:55:22.320
I use much better where this one
is than I' m going to hear

804
00:55:22.400 --> 00:55:27.239
from as much as I can And
sometimes, when we get very small,

805
00:55:27.880 --> 00:55:30.920
he goes with so many problems that
doesn' t give him much life to

806
00:55:30.920 --> 00:55:32.119
take the water upside down. But
I think it' s probably one of

807
00:55:32.159 --> 00:55:37.519
the biggest levers to grow in shape
a. The reality is that I think

808
00:55:37.519 --> 00:55:42.599
that, as it has always added
quite a lot of value to this podcast

809
00:55:42.679 --> 00:55:46.519
or this episode of startup Poby Tolls, when we no longer only talk about

810
00:55:46.559 --> 00:55:51.760
startups either, we also talk about
Pymex, SMEs, forgiveness, corporates,

811
00:55:51.760 --> 00:55:54.320
advantages, disadvantages. I think both
roads have the good to do. However,

812
00:55:54.719 --> 00:55:59.559
I have nothing left but to thank
you. Alex, if you have

813
00:55:59.639 --> 00:56:01.960
any more comments, please also tell
us where you can be contacted. If

814
00:56:02.199 --> 00:56:07.039
you want to talk to you directly, learn more about the first, two

815
00:56:07.159 --> 00:56:10.119
plans, or just say hello or
ask, as we have as entrepreneur entrepreneurs,

816
00:56:10.480 --> 00:56:13.960
where they can contact you. Al
Lix is a hundred to meet me

817
00:56:14.039 --> 00:56:17.519
at Linkedin dejandro peñas There, as
Karina said, I write to myself frequently

818
00:56:17.519 --> 00:56:21.320
of good Alians, but they can
write me direct messages. Sometimes they fuck

819
00:56:21.400 --> 00:56:23.599
up for them to answer, but
I usually answer all the messages. If

820
00:56:23.679 --> 00:56:28.159
someone wants to do a construction theme
in Madrid or Malaga, there are plans,

821
00:56:28.480 --> 00:56:31.320
two plans, com but can also
write via linka if they prefer.

822
00:56:34.360 --> 00:56:37.719
And the money thing does bring me
back. First, because first with Iria

823
00:56:37.719 --> 00:56:42.280
a primer com and our is our
page where you can see the programs that

824
00:56:42.719 --> 00:56:46.320
we have and we are continuously looking
for SMEs that want to incorporate to our

825
00:56:46.400 --> 00:56:50.880
comfort, which is first club.
So they have multiple ways to find us.

826
00:56:51.039 --> 00:56:53.039
Well, Alex, thank you so
much for all this time you'

827
00:56:53.119 --> 00:56:57.519
ve given us. As always,
I am sure that I added a lot

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00:56:57.599 --> 00:57:00.679
of value to the community that is
listening to us or is currently seeing us

829
00:57:00.760 --> 00:57:06.119
in Nesta Btolks and I have nothing
left but to thank you for your time,

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00:57:06.320 --> 00:57:09.840
your support and your desire to share
all your experience with this great audience

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00:57:09.840 --> 00:57:12.840
that we now have in startups and
Flow. And, well, emperor friends,

832
00:57:13.440 --> 00:57:15.840
thank you for following us this program
of Star buc ofy Tolks with support

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00:57:16.039 --> 00:57:20.760
from Mak Bnness Flow. Thanks Carina, thanks to Gusto. Thank you,

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00:57:20.760 --> 00:57:24.280
Alejandro. Thank you very much,
Alejandro Peñas for this great interview you just

835
00:57:24.360 --> 00:57:28.840
gave us and, above all,
add value to this community. Thank you

836
00:57:29.039 --> 00:57:30.840
very much and we will see you
in the next session that you have an

837
00:57:30.840 --> 00:57:38.880
excellent afternoon. Thank you for joining
us on one more episode of Starkcoups,

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00:57:39.079 --> 00:57:45.199
SCOFF and Tolks TE. We look
forward to our next chapter sign up for

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00:57:45.360 --> 00:57:51.199
free on our Stark Cups Com online
platform, where you can incubate and accelerate

840
00:57:51.280 --> 00:57:55.599
your startup with the best training courses
for entrepreneurs, live mentoring and even develop

841
00:57:57.039 --> 00:58:01.599
your beach to raise capital in our
network of star Corps investors. Inmavation starts

842
00:58:01.719 --> 00:58:02.920
wither cap of caty