emprendedor

Mission Complete: Thank You For Your Support

Hello Readers and Supporters of Entrepreneurial Trek,

Andrew and I are so excited to announce that Entrepreneurial Trek: South America is now available for purchase in both eBook and print versions. As a thank you to those that have either (1) donated to Entrepreneurial Trek, (2) subscribed to our blog and/or (3) actually participated in the interviews as a South American entrepreneur, we would like to offer each of you a FREE version of our Entrepreneurial Trek eBook. You guys ROCK!

You can download your copy of the eBook by clicking the button below and by using discount code FREE at checkout. Simply save the file to your Kindle or Apple Reader App on your tablet/mobile device, then start reading! The promo code will expire November 18, 2018.

We are eternally grateful and humbled by your support.

Andrew Bagwell & Kaitlyn Ersek Bagwell

P.S. If you have any trouble downloading your eBook, please reach out: Kaity606@gmail.com

P.P.S If you donated $50 or more to our Indigogo campaign, you automatically get a print version of the book. It’s in the mail! If you do not receive your book by November 18, 2018, please reach out!

P.P.P.S We will continue to steadily release interviews to this blog so stay tuned!

Vinyl Sound Peru: Creating a Community of Vinyl

Vinyl Sounds Peru

Miguel Locatelli, music aficionado and owner of Vinyl Sounds Peru, guided us into his vinyl store located in a hip Lima neighborhood. Vinyl Sounds Peru was started in 2013 and was recently named on of the top start-ups at Start Up Academy – a local incubator serving Lima-based Peruvian entrepreneurs.

Miguel started his career as a music teacher at a local University and eventually left to pursue his passion of vinyl. However, Vinyl Sounds Peru is more than just a music shop – it represents one of the largest communities of vinyl listeners in Latin America. According to Miguel (this translated from Spanish), “At Vinyl Sounds Peru, we believe in creating a community of Vinyl… not just selling music. We provide information and host events and get-to-gethers for Peruvians that appreciate Vinyl.”

vinyl

Disenos Ana Palza: Empowering Indigenous Culture

Disenos Ana Palza

The first thing we noticed when we walked into Ana Palza’s design studio, Disenos Ana Palza, were the mannequins adorned in colorful cholita dress, equipped with the iconic bowler hat, plush petticoats, shawl and huge decorative jewelry. Ana is a jewelry designer for Cholita fashion, the style worn by Cholas or Cholitas (the common term given to Bolivian indigenous women).

“It wasn’t too long ago when Cholitas would have been shamed for the way they dressed. They were discriminated against in their education, job opportunities and were even banned from certain parts of the city. Now, Cholita fashion is huge and even non-indigenous Bolivians are taking part, like me.” Ana participates regularly with the numerous fashion shows in La Paz, featuring solely Cholita dress. But, the biggest time in Cholita Fashion is Gran Poder, a two week long Christian religious celebration observed by the indigenous community in La Paz.

A big reason why Cholita fashion has become a movement in Bolivia was the presidential election in 2005 when Evo Morales, Bolivia’s first indigenous president was elected for the first time. His two terms has ushered in pride for Bolivian roots and reduced social injustice. The president was elected for a third term on January 22, 2016 (historically only two, five year terms have been legal).

Cholita fashion

“Fashion is seriously important to Cholita culture. It’s a huge status symbol. Wealthier Cholitas will spend up to 3,000 USD on a piece of jewelry and that doesn’t even begin to cover the expenses regarding their skirts, hat and shawl.” Cholita women who can’t afford a 3,000 jewelry set which includes earrings, pin for their bowler hat and shawl, can rent the jewelry at a lesser cost if they have the money, or settle for cheaply made copper jewelry (keep in mind, minimum wage in Bolivia was set at $215 a month in 2014). Ana is exploiting a middle of the road approach. “Our jewelry sets are about $300 and are handmade by Bolivians.”

It’s also important to Cholitas that they own a unique set of jewelry. The look of the jewelry is fiercely guarded secret in case competing women copy the style.

Ana has been in the jewelry business for 15+ years, starting when her sister and former business partner traveled to China and brought back Chinese styled and priced jewelry back as a gift for Ana. They quickly started a jewelry import business in Zona Sur (The wealthy district in La Paz) and employed over 15 women to help sell and create elaborate pieces. “But, like all good ideas, it was soon copied by other entrepreneurs. Margins slipped, we starting laying people off and eventually closed down the business.”

Two years ago, Ana started Disenos Ana Palza. “We are the only option available in Cholita fashion in the mid-tier price range. But, I know that because we have been successful people will soon start to copy our model. Our competitive advantage is our styles. We mix today’s Cholita fashion with older indigenous styles and modern western flairs. For example, this year our fish and coin jewelry has been very popular.” Ana shows us a special set of jewelry featuring fish (a sign of abundance) and old Bolivian coins. “Pearls have also been a hit.”

“I am very ADD,” admits Ana with a chuckle. “So, I am constantly creating. I think that is a big asset for me. Ideas just fly and I notice new trends all the time. The way my mind works helps me create and helps me stay ahead of the competition.”

Regardless, Ana says, “Entrepreneurs have to be adventurous, risk takers and can’t be afraid of failure.” Her piece of advice for current and wanna-be-entrepreneurs? “Figure out what you love to do and make that your business. If you love what you do, the money will come.”

Cholita 2

Barranco Beer Company: Brewing a Craft Beer Revolution in Lima, Peru!

Peru Emprendedor

“All hard work, deserves good beer,” says Andres Lefevre, Co-Founder and CEO of Barranco Beer Company, as he clinks glasses with us during the interview. We were ten minutes in to our conversation and already Andres was recommending our next round of craft beer produced by Barranco Beer Company. We could see that interviewing a brewer could be both fun and dangerous at the same time.

Andres is a maverick of a businessman (Which is saying something for those of you that know entrepreneurs) and isn’t afraid to follow his gut, even when partners, common cultural norms towards beer and the government are telling him otherwise. His attitude towards building a business is an attributing factor to why, Barranco Beer Company, a microbrewery and restaurant located in Lima, Peru has been a success.

From left to right: Andrew Bagwell, Andres Lefevre and Kaitlyn Ersek

From left to right: Andrew Bagwell, Andres Lefevre and Kaitlyn Ersek

“My father and uncle had the inspiration for this brewery,” says Andres of Barranco Beer Company. “A love for beer was always in the family. Some kids grow up having a small glass of wine for Christmas with their parents, I grew up with beer,”

Andres’ grandfather worked for the national beer company, Compañía Nacional de Cerveza, owner of Pilsen Callao. It was also the only true Peruvian option in beer at the time. “The problem was that Peruvian Beer just wasn’t that good. My father and Uncle understood that and wanted to work to make it better. They decided to go into business together and asked me to help them brew.”

At first, Barranco Beer Company was designed as a brewery only and the family had no intentions of opening it as a restaurant. They purchased the property and equipment and started testing brews while waiting for government approval to officially open up shop. “But the government wouldn’t let us open.” They didn’t want another alcohol-oriented business in the area.

Too late, Andres and his family already had the brewing equipment, bar and beer ready to go. “So we started the business anyways,” admits Andres with a chuckle. “We shoved all the tanks and supplies in the back of the shop and covered them up until evening. Then we secretly invited the community over for drinks.”

Unfortunately, Barranco Beer Company hasn’t been our only Peruvian business to start up without an official license. The government’s bureaucratic process is lengthy and our entrepreneurs complain that its holding start ups back from opening.

Eventually, the government and the Leferve family came to an agreement. Barranco Beer Company opened as a restaurant and brewery as opposed to an alcohol-only establishment.

Right off the bat, Barranco Beer Company was a success and reeled in a large following of locals and tourists. “But, I wasn’t happy with the beer we were serving,” admits Andres. “I wanted to serve the craft beer styles I loved in The States.”

Despite traditional attitudes that light lager, Pisco and Rum were the only alcohols of import, Andres instinctively believed that Peruvian culture, which prides itself on fine food, would mesh well with craft beer. “Peruvians have such an amazing palate,” says Andres. “I knew that Peruvian pride in food could translate to beer.”

Barranco Beer Company's investors weren't convinced and initially voted against craft beers. Without permission (A common trend?), Andres began releasing a different craft beer every month. Each beer was created with local ingredients like algarrobina, ginger, Peruvian cacao nibs and honey harvested from high altitudes in Cusco.

The craft beers were a hit and investors soon warmed up to the concept.

Andres believes that South America is going to be the next leader in craft beers. “Samuel Adams was a huge inspiration for me. They were the first to introduce craft beer to The States on a large scale.”

The climate faced by Jim Koch when he started Samuel Adams Boston Beer in 1984, was similar to the one faced by Andres two years ago in Lima. For Koch, with only pale lagers from mass-market brewers as an option, he understood that America needed a better brew.  

While traditionally only the National Beer Company manufactured beer in Peru, Andres and new microbrewers in Lima and Arequipa are brewing a craft beer revolution. “Peru went from a culture of anti Pale Ale to a culture that loves it. It’s a huge first step for beer. I would love to do for Peru, what Samuel Adams did for American craft beer.”  

When we talked to Andres he was only in year two of running Barranco Beer Company, but has seen great success to date. He is now selling his craft brewed beer all over Lima and is getting requests from Cusco, Arequipa and other large Peruvian cities.


Andres credits his success to taking a big initial risk by incorporating American style craft beer in Peru. “Many other ideas, cultures and concepts from The States could be very successful here in Latin America, you just need to find the one that clicks.”

Antigua Miami: "Anything could happen in Bolivia"

Bolivia entrepreneur

“Bolivia is a fun place to start something in. You never know what is going to happen. Anything could happen here,” says Sukko Stach, Founder of Antigua Miami, a café in the heart of La Paz’s bustling tourist district.

Sukko grew up in the Bolivian restaurant industry. When he studied at a Canadian University, he worked for and helped open several restaurants and bars in the area. “It was a lot of work and I put in a lot of energy for something that wasn’t my own.” So, Sukko decided to pack his bags and return to Bolivia to start his own venture.

“One of the great things about opening a business here in Bolivia compared to Canada is that the initial investment is A LOT lower,” explains Sukko.

Sukko discussing coffee with a customer from Germany.

Sukko discussing coffee with a customer from Germany.

“I decided to open a coffee shop as opposed to a bar or restaurant because a coffee shop is manageable by a single person and involves less energy,” says Sukko. Sukko sees Antigua Miami as an incubating space for future ideas. “It’s a way to test and better understand the Bolivian market in La Paz,” explains Sukko. In the future, he plans to open other businesses, starting with a micro brewery.

Despite the fact that Sukko opened the coffee shop only 10 weeks prior to our interview, Antigua Miami was already listed as the #1 restaurant /café to visit in La Paz on Trip Advisor. So far, about 80% of Sukko’s customer base are tourists. That’s because tourists tend to be more in tune with the coffee culture than do Bolivians.

The coffee shop itself is an accumulation of Sukko’s travels. “I was super inspired by traveling through Europe. I’ve been taking ideas from other places and have finally been able to put them all together and to manifest Antigua Miami’s identity.”

Bolivia emprendedor

When it comes to entrepreneurship, “It is about taking a risk and really following through with your ideas. A lot of people have great ideas. Having a good idea is just 5% of success. The rest is when you make those ideas a reality.” For Sukko, making his dreams a reality starts with putting his ideas on paper. “I carry around a moleskin journal and write down all of my dreams and ideas. You never know when one of those ideas will come in handy a few years down the road.”

Masterline Logistics: "If you die with your boots on, at least you can say you tried!"

bolivia entrepreneur

Entrepreneurial Trek: How did this business get started?

Jean Dessenoix: I grew up with a French diplomat for a father and a Mexican mother. We traveled the world and I fell in love with international relationships.

That childhood, primed me for international opportunities in business (politics just weren’t my thing). After a sting in the “Real World”, my wife and I teamed up to start Masterline Logistics in 2003. At the time, we were located in Mexico but after a couple years, we decided to move the business to Bolivia. It is important to us that we invest money in Bolivia and make sure that the money we did invest, stays in Bolivia.

Masterline has a very artistic and human approach to business that makes us different from competitors. That is my wife’s influence. She is a painter and the business has become the perfect joint collaboration between business and art. We are less focused on numbers and more focused on the relationships.

Being an innovative entrepreneur is a lonely journey (modestly speaking...I am still looking for the good formula and I may not find it at the end of this journey...). We are trying to build and prove our own business theory.

Jean Dessenoix Left, Kaity Ersek Right

Jean Dessenoix Left, Kaity Ersek Right

Entrepreneurial Trek: Why did you decide to start your business in Bolivia?

Jean Dessenoix: You don’t need to be in New York City to make money. Don’t get me wrong, the volume of business is larger in The States and Europe, but the rules in Bolivian aren’t so strict that it won’t let your imagination flow.

Look at it this way, when building a company in Europe you have to first consider the rules of the system and taxes and all that other crap. It is not only difficult, you just don’t want to invest the time into figuring it out. The system keeps creative people from launching new companies.

 

Entrepreneurial Trek: What makes Bolivia special?

Jean Dessenoix: I believe there are more opportunities and freedom in Bolivia. Everything is so new here and there are just so many needs for an entrepreneur to respond to. If you want to open a company in Bolivia, You will find an idea and, chances are you won't find a ton of competition. Plus, it is the only country in South America growing at 5%. Unlike the rest of the world, we really aren't feeling the economic crisis. 

The Bolivians are a very special group. Something like 50% of the people here are entrepreneurs. Everyone is buying and selling. They are constantly doing business.

 

Entrepreneurial Trek: What was your initial investment when launching the company?

Jean Dessenoix: About $13,000 USD

 

Entrepreneurial Trek: What is a mistake people make when starting a business? 

Jean Dessenoix: Some people make the mistake of starting businesses with their eyes only on the numbers. It is a very cold vision. I believe, you need passion and a goal. Running a business is more than just money.

 

Entrepreneurial Trek: What advice would you give another entrepreneur?

Jean Dessenoix: Forget about what you already know, open your mind to new things, new experiences, and new knowledge. Also, you have to invest more than 100% your effort. It is not just a business, it’s your life. If you die with your boots on, at least you can say you tried.

 

Entrepreneurial Trek: Do you have to go to University to be successful? 

Jean Dessenoix: I didn’t finish my university career. All those books just weren’t for me. I found that learning to sell was a more worthy education than what they were pandering at school. Your experience is your knowledge.

Forget all the years you spent in University. When you leave University, you know all the same things as all the other graduates. Instead of spending time there, try to understand the way the world works. Go travel and open your mind. Burn your passport and start fresh. Life isn’t always about numbers; it is about sounds, images and emotions too.

Start Up Chile: Can we create an entrepreneurial ecosystem in Chile?

Start Up Chile
Start up chile

“Five years ago, Start-Up Chile was born. Its mission – to literally transform the Chilean entrepreneurial ecosystem. It all began with a single question. What would happen if we could bring the best and brightest entrepreneurs from all around the world and insert them into the local ecosystem?” Would it create an entrepreneurial ecosystem in Chile?

While hanging out at El Centro De Emprendimiento Telefonica Open Future – one of Start-Up Chile’s co-working spaces in the trendy part of Santiago, and looking out at the multitude of entrepreneurs from all around the world, there is no question about it: Start-Up Chile is making a difference for these companies and the local economy.

Today, Start-Up Chile has accelerated 1,100 startups (about 300 per year) from 70 different countries, with about 35% of those entrepreneurs originating from Chile. 79% of those startups are still alive today, 1% have been sold and 20% have died. In addition to providing grants worth 30,000 USD to each team, a six-month mentoring period to jump start their businesses, and a kick-ass academic program, the best startups are also offered a spot on Demo Day where they have the opportunity to connect with investors in Latin America and the rest of the world.  

Chile emprendedor

According to recent data released by Start-Up Chile, their startups are having a big impact on Chile’s economy. 32% of startups in Chile have been funded (outside of Start-Up Chile’s grant), amounting to 41,559,000 USD, and their top 5 most successful startups have valuations from 10,000,000 to 75,000,000 USD. These startups are also responsible for job creation in both Chile and abroad; 485 foreign jobs and 974 Chilean jobs have been created thanks to Start-Up generations 1 through 12. The community has also seen an increase in incubators and accelerators. And the Start-Up concept has spread to Brazil, Peru and elsewhere in Latin America.

“There’s still a lot of ground to cover,” says newly promoted, Director Rocio Fonseca. “The future looks awesome and we are continuing to improve Start-Up Chile.” Already, Start-Up Chile has offered new programs ranging in time frames to meet the needs of different types of startups and industries. “We are also working on improving our academic program and building an investor club to help catalyze an investor ecosystem within Chile. As we continue to improve our services for startups we are hoping to retain more and more foreign startups in Chile” (About 10% of foreign startups are choosing to stay in Chile).

According to Apple Co-Founder Steve Wozniak, “It’s the greatest program I’ve seen of this type in the world! I’m gonna recommend it to my own kids.”

Chile emprendedor

5 Reasons Why You Should Choose Start-Up Chile

1.   It goes without saying that the 30,000 USD grant provided by the Chilean government is a tempting treat for any startup looking to make a name for itself.

2.   You are surrounded by some of the most creative, and brightest entrepreneurs in the world. Companies have come from 70 different countries to be part of the program with about 35% of entrepreneurs originating from Chile. As my great-grandfather used to say, “A wise man learns from his experiences, but a super wise man learns from the experiences of others.” By being part of a huge and extremely diverse community of entrepreneurs, you can further your entrepreneurial learning by hanging out with and learning from other startup founders.

3.   They are serious about educating entrepreneurs. Not only do you get access to mentors, but they bring in tons of workshops and events so you can get your learn on. For example, each week they have a intensive pitch training workshop that’s popular with the program’s current entrepreneurs.

4.     El Centro De Emprendimiento Telefonica Open Future Co Working Space is a fun place to work and network. We had the opportunity to sneak in (shhh don’t tell anyone) and hang out with some of the entrepreneurs at Start-Up Chile’s headquarters in Santiago.

5.   Santiago is just plain awesome! Chile’s capital is nestled in a valley of mountains, only a couple of hours from amazing surf, hiking, wine and skiing. The city itself is a fun mixture of cute cafes, businesses and a fun bar scene. Santiago, Chile has been one of our favorite cities (we do play favorites) in South America! What are you waiting for?

TOC: Keeping LATAM safe one fingerprint at a time

chile emprendedor
Chile Security

In Santiago, Chile, TOC is doing its part to increase security and privacy for consumers through its biometric security systems and electronic signatures. When wandering around Santiago, it isn’t unusual to find TOC hardware asking to capture your index of thumb finger and scan your identification card in exchange for signing a document and/or ensuring your identity. “Today, it’s easy to steal your information and assume a fake identity, but at the end of the day, these people could never steal who you truly are – and that’s recorded in your fingerprint,” states Ricardo Navarro – CEO, founder and inventor of TOC.

Identification cards are used in roughly 50% of the world (not in the USA). They carry a chip containing information on your identity including an image of your fingerprint, your national number, birthdate, address, etc. TOC reads identification cards and double checks information provided against fingerprints for security purposes. To ensure maximum security, TOC captures between 40 and 120 characteristic points that are unique to your finger. “We have never had a fraud or false positive identification, and our false rejection rate is the lowest on the market, lower than 0.8%” says Ricardo, “while our competition has a false rejection rate of 18-20%.” Watch the video below to learn more about TOC's technology (If video does not appear in email, click here.)

Their revenue model consists of three key points: the rental of their hardware with unlimited ID verifications, the number of electronic signatures, and their new development which works on smartphones and tablets with biometric sensors. Today, TOC is doing business in Chile and Peru. In 2014, they won the Innova BBVA contest, DigitalBank Latam contest in Santiago and recently the Digitalbank Latam contest in Lima.

TOC believes they have just started to unravel the future of technology. “We believe the progress we have made so far is just 10% of the potential we have as a team. I am always thinking of how to enhance people's lives through technology and continuously looking to improve technology.”

Evoluzion: Just say YES!

Chile Emprendedor

“We conducted research regarding tourism to indigenous communities, and discovered that for every $100USD spent in tourism, only $5USD stays in the indigenous community or developing country at large. It’s crazy!” Explains Marcelo Muñoz of Evoluzion. Evoluzion is a socially responsible tour operator company that focuses on providing experiences into the local indigenous communities of Chile. “With our tours we try to keep at least 70% of revenue in the community,” says Marcelo.

Before entering the tourism business, Marcelo had the opportunity to stay with a Mapuchue family in Chile, and see first hand the unique experience he could provide to tourists by bringing them to indigenous homes and teaching them local traditions. “I learned about their vision and their relationship with the land. The woman I stayed with became a second mother to me. She worked very hard for her family and to teach other tourists about her lifestyle with the Mapuchue.”

In addition to offering tours through the indigenous communities of Chile, Evoluzion collaborates and transfers skills to local people to become great tour guides while creating jobs and bringing more money to their villages. “We are partners with these local people from the beginning.”

Chile tour operator

Marcelo also offers consulting to other countries to promote responsible tourism within the indigenous communities of Latin America. A couple years ago he was invited to participate and consult as a coach with UNICEF Nicaragua and P-Lab. “Despite the fact that I had never left the country and was just piecing together my own responsible tourism company, when UNICEF and P-Lab asked me to help put together a responsible tourism program, I said yes straight away,” admits Marcelo. “Richard Branson probably said it best when he stated: “If somebody offers you an amazing opportunity but you are not sure you can do it, say yes – then learn how to do it later!”

After two weeks of studying every tour guidebook he could get his hands on, Marcelo flew to Nicaragua. The UNICEF Nicaragua project became a huge success. “I remember after presenting the results of the program and returning to Chile, I got tons of Twitter and Facebook messages from people saying how much they loved the idea and support for Nicaragua.”

It is experiences like the one in Nicaragua that motivates Marcelo to put 100% of his effort and time into Evoluzion. “I know that if I only put 50% of my efforts into the company, I will only get 50% of the results back.”

Today, Evoluzion is focusing on spreading the world about their unique and responsible tour operations.

Check out the link to Evoluzion’s facebook and website to learn more about their life changing tours: