How to be a Disciplined Entrepreneur when crossing boarders?
Den Shyan Chuang asked 3 years ago
An excellent friend of mine, Gonçalo Abreu, in Lisbon owns Alfredo (www.alfredo.pt), a real estate AI algorithm for valuating property in Portugal, and is considering expansion into the American market.
Although he launched Alfredo in 2019 without being as disciplined an entrepreneur as you teach (I’ve sent him a copy of your book), he has managed to penetrate 20% of the Portuguese market without funding and being up against deep-pocketed competitors!
On the DE canvas I think that my friend has a solid foundation up to a certain point, hence being able to attain a significant market share with certain limitations, he has a strong multidisciplinary group from college friends, so all steps I rate as “green” until 5 and/or 6. The reason for this is that his marketing and communication channels could use some work. Alfredo did not have a sales team until now, for example. Does this analysis make sense?
Also, Gonçalo and his founding team will be visiting Boston from the 13th to the 18th of November to investigate the real estate market talking to people in the fields of real estate, AI and big data. Is there anyone at MIT whom would be interested in having an ideas exchange about their venture or related topics? (They are all fully vaccinated and will have valid covid tests while they are there)
Thank you!
Bill Aulet answered 3 years ago
First of all, Wow!!! Your friend Goncalo has been able to gain 20% of the Portuguese market without funding and being up against deep-pocketed competitors! That is some great market validation to work with. It sounds like he has a solid foundation in the first box (Raison d\’Etre and the items listed there) which is great. Based on market traction, I am less worried about boxes 2 and 3 (but still would go back and sharpen them). My focus based on what you have described would be on Box #4, \”Competitive Advantage\”. AI and ML would really help there but not necessarily constitute a good core. The data is the key. While I am not sure what they do, I will make a guess as to who to speak to when they come to Boston? Might try Peak State Ventures as they do a lot in this space. Mac Dougherty is a partner located in Boston and could be a touch point – https://www.linkedin.com/in/mac-dougherty/ Another one who is involved in this general space is Kosta Ligris — https://www.linkedin.com/in/ligris/ Lastly is a new group at Suffolk Construction – Boost headed by Wan Li Zhu https://www.linkedin.com/in/wanli/ Try them to start and maybe others have thoughts as well.
Den Chuang answered 3 years ago
Your analysis has been shared with Gonçalo. I very much agree with the part on competitive advantage, it is absolutely spot on! I also shared those contacts with him and from what I hear, he had a meeting with at least one of them, and he is very grateful for that, thank you Bill!