Poster Child

The more time I share with bright and enthusiastic entrepreneurs, the more I understand entrepreneurship is an attitude, a state of mind. You don't need to found a company to be an entrepreneur, although doing it, is a great way to drive change and route your energy in the right direction.

Marc Vidal is the poster child for this mindset, it represents the entrepreneur at its best, the one that will change the world and at the same time will convince others along the road to do so. It's contagious. Marc will join iomando as an investor. Not him directly, but through Sitka Capital, an investment group where he actively participates.

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Hard Choices

It’s been just a couple of months since we released the iomando API to the world and the adoption has been great so far. Beyond the four customers we launched with, we are already in advanced talks with more than a dozen potential partners.

So far so good, but today I wanted to share some thoughts about the unexpected consequences that derived from the release of the iomando API. Precisely, I wanted to focus on the tensions that arise when you try to simultaneously develop two products that are not perfectly aligned in their end goals.

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Metrics

Although we absolutely understand that metrics are a key component for driving growth and the underlying guide to optimize for the most critical issues, since the beginning, we’ve always struggled when it came to measure success within our company.

Despite, we have to admit that during the first year and a half of iomando's operations, we were everything but data-driven. It’s not that we didn’t care, it’s just that the daily work sucked a lot of our time and we weren’t placing enough value in the measurements to take a break and start planning for it.

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Changing Behavior

One of the hardest things about starting a company is that barely nobody knows you. It may sound like an obvious thing, but it has huge implications and sometimes it can be neglected. 

The main problem we faced with iomando is that people were not aware that what we offered was even an option or a possibility, and pushing against market trends makes starting up even more difficult.

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On Business Models

When investors ask for defensibility, they are implicitly asking for your unfair advantage, trying to foresee beyond technology and understand if you have already studied the end game.

I have learned this the hard way. Technology is not an end by itself, it’s the support function of something bigger: your business model. This is the story of how we rethought our business model at iomando in order to get the most of what made us unique.

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