Manila Startup Week's Speed Mentoring at iAcademy

Great minds converged at Manila Startup Week's Speed Mentoring at iAcademy on May 19, 2015.  Startups asked mentors about business, challenges they face and more.  Here are some motivational words from the mentors:   

Peter Paul V. Cauton of STORM Benefits

"When you build a startup and it starts making money, the temptation is to do more startups.  That was my first mistake.  I started building startups that were a bit far from my area of expertise, some startups I wasn't even passionate about, but there was an opportunity. The second mistake was partnering with the wrong people, for one reason or another.  That founder selection is crucial part of the journey and also focusing.  The partner thing is like getting married.  If you do that wrong, it's very difficult.  An employee you could just let go of.  But a partner, you can't if you already did equity so it's a crucial part"

RJ David of OLX.PH

"I already believe you're doing the right thing by doing a startup.  If ever you wanted to do something, you should do it now.  You should find the right person to do business with.  I was  just lucky that I did it my wife.  Find the right people.  My biggest mistake was to do everything on my own then I realized that I became the biggest bottleneck of the company and hiring the best people was the best thing that happened to us."   

Frederic Levy of CashCashPinoy.com

"Don't be afraid.  There's no fear.  Fear is the worst thing that could happen to you in everything in life and especially in business.  Yes, it's tricky game.  Yes it's complicated.  Sometime not too friendly, sometime you will be too advanced, sometime you will be too late.  Sometimes everything changes too fast.  It's true.  But don't be afraid even to fail.  Don't be afraid.  It's part of the game."

Judah Hirsch of Salarium

"We have a concept called GSD "Get Shit Done".  Often in the Philippines because of transportation and telecommunication issues, it's very hard to get things done in the day.  I look at the end of my day and I say you don't get to accomplish very much, but I think that's a really important concept.  Every single day you should wake up and say ok what can I get done today. What do I need to get done?  You should have action plans for day, a week,  a month.  And just everyday grind through that list.  That's my advice to budding entrepreneurs.  Be relentless on that list.  Always GSD."

Farouk Meralli of mClinica

"I pitched on this idea.  I said look we don't have any data on emerging markets.  I think we could solve this through technology, mobile technology specifically.  It was the head of emerging markets, someone in pharma, and he agreed to it.  That was just an idea and he signed it.  He funded a pilot.  And he said 'I will do it but you have to do it in the Philippines'.  He said the Philippines because it was a strategic market for them.  They said if it could work in the Philippines, it could work anywhere in Southeast Asia.  I got on the plane to a country where the technology didn't exist, with a team I didn't have.  But I had to figure it out.  That's how it started two years ago.  I was betting on myself at the end of the day.  But that's what startups are."  

Diego Ramos of ExigoVentures.com

"When you think of starting a business, always think how you're going to exit.  Exit doesn't mean you're gone bankrupt.  Exit could be a JV (joint venture), a merger, a scale to other countries.  If you have a vision and you start it, make sure you have the end product in mind."

Arup Maity of BlastAsia

"Keep it real and create value over everything else." 

John Bibal II of Globe Telecom

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For more info about Manila Startup, please check their website:  

http://manila.startupweek.co/

Enjoy your Startup!