Session 6

This was an interesting topic since Jesus started his website (idealista.com), in the face of many competitors and sites that did something similar.  His strategy is something noteworthy as well, in that he focussed his service on Madrid first, to start with something focussed, do it well, perfect the interface and experience, then expand. It is usually good advice for any entrepreneur to focus on a particular market, and not try to be everything to everyone.

Sessions 4 and 5

Now that I've gathered my thoughts a little I figure I will update this.  So session 4 was at least refreshing to hear someone a little more down to earth and modest, however I was not sure what I could take away from it, other than buy your own server at first.

Session 5 though was great.  The idea for the website was good, and it has also added a lot to an idea that I had.  I will surely incorporate this concept of voluntarily sharing your style and personal information, as an additional feature of a concept I have been thinking about for a while.

I suppose what this course has taught me is that website concepts are viewed as more favorable investments than more hardware types of ideas. Usually biotech and medical devices, imaging, and other areas are more appealing to me, but since the barriers to online ideas are much lower it makes them a better idea coming out of graduation.

Looking forward to today's session.

Session 3

So my ignorance regarding blogging has shown in that I posted things in the comments section for session 2.  So

For session 3, I thought this was the best session I've had so far in my exchange here at IE.  At first I was afraid that Jorge's success would prevent any useful takeaways from his visit since most people can't raise financing the way he did/can.  For most of us, raising financing is a challenge, whereas he was talking about it as more of a chore, something he just has to do but without any uncertainty at all..as if he had a universal formula that always worked.  I think he failed to mention how his experience at telecoms and consulting companies helped him network, and more importantly, get into a room to pitch to the most receptive people, who will understand your business plan.

But overall it was great.  The following three things I found very insightful and helpful:

1. Really good point about the focus vs. diversify.  i.e, putting your own money into the business  disrupts these interests.  A VC diversifies with multiple focused companies, not a single company that tries to diversify. 
2. I Like the point about how banking regulation is changing the attitude and perception of investors, who now look for unregulated investments in the wake of the regulatory changes. This may be a new avenue to pursue when searching for risk tolerant investors
3. The point about the focus on new processes is really interesting.  I have often thought along these same lines, however the challenge is deciding how much to disrupt with one new product or service.  Often ideas that provide the right mix up new value and savings but also integrating with infrastructure that private and public entities have already invested in (and hence are still interested in earning a return on).  Trying to sell an entire new process that would render already purchased capital obsolete may not be the best proposal.  Nonetheless, I think the focus on new processes was a good verbalization of what I have felt for a while.

Session 2