In itnig’s Podcast #39 you’ll hear from Jesús Monleón and his story of entrepreneurship: Cofounder of eMagister, Seedrocket, Offerum, Glamourum, early team member of Trovit and active investor with invested entreprises like Captio, Tiendeo, Redbooth and Mailtrack.

Bernat Farrero, CEO at itnig, Jordi Romero, CEO at Factorial and Juan Rodríguez, CEO at Camaloon speak with Jesús Monleón about his experiences and learnings and his advice for fellow entrepreneurs. Listen to our podcast on Youtube, iTunes or iVoox.


Jesús Monleón, how did you start?

I studied Business Administration and when I was at university I was curious about starting my own business. At that time, around 1996, at university we got an Internet connection and as I had started to think about creating a job portal I found out about Infojobs. I saw they were close by so I went and met Iván Martínez and Nacho González-Barros at the university campus in Cerdanyola.

Later I started working in the financial sector, but I quickly realized that this was not for me so I left and decided to create a business with my cousins.

This is when emagister.com — a search site for classes — was born in 1999.

Why emagister?

I thought to myself “If Infojobs went well, what I can do that is related?” At that time there were a lot of educational offers in the newspaper and everybody was already talking about how Internet was going to change education.

The first thing I thought was that to start out we need a team and so I gathered my cousins: I was the oldest with 22 years and then there were my cousin Juán Ramón, who was an engineer, another cousin Jordi Castellò had studied economics and Monica joined us in administration / finance.

We already knew each other, we even had created an ice cream kiosk at High School together.

We found our first investor and now really had to think about how to get this started. That’s when I remembered Grupo Intercom and called them up. And we set out to work. Our expectations were far from reality: In the first year we made 600 Euro in revenue, our prevision was of 6 Million Euro.

We had traffic, we knew that people were confirming classes through emagister but we hadn’t yet figured out how to monetize it.

Thousand of tests later, we still had no business model and we had given ourselves a year to get this working. Through an outside input to change our contact forms and ways to connect schools & students, we switched to a model based on leads. That’s when emagister takes off. We had traffic, a working business model and very few competitors. This was the beginning in 2001.

What did you do after emagister?

From my experience at emagister I saw that being part of a startup was tough and my impression at that time was that Internet was a bluff, entrepreneurship was shit, and only investors are winning.

So I went into the financial sector to make some money. I moved on to La Caixa’s Venture Capital department. With a team of four people we were searching for Catalan operations for the bank. I got tired after a while and needed some more action. I was part of the start of the bank’s Venture Capital department for entrepreneurs — a very interesting experience with very good investments — and decided to start again. That’s when I met the Trovit team and joined them.

At Trovit everybody was very techy, we were making money with adsense, my role lay in business development. First we sold Banners and then set up a pay per click system. I built up our commercial team.

Trovit went very well. It’s a good business. A company generating EBITDA.

*laughing*

As an entrepreneur but also from the other side as investor I have learned that investors are not my friends. As an entrepreneur I want to drive the company, drive the bus and want the investor to join the journey, to hop on the bus but not to interfere with me driving.

I don’t like to depend on investors. Investors are not your friends.

Years later I founded Seedrocket, as something I would have like to have when I started out with emagister. Seedrocket is an association without profit focus, we are a group of friends who have known each other for a long time and work together.

I was looking for people who could help me with their experience and place . a minority investment.

In 2007 I met Vicente Arias from Softonic, Grupo Intercom, and we talked about creating an incubator or investment fund. We were looking at YCombinator and Seedcamp models, just when YCombinator was starting out in the US. So we invested small amounts of money, 20.000 Euro, in three projects, offered offices and mentorship. I was looking for people who have had experiences creating companies, sharing what they have learned not in technical terms but more about relationships with cofunders, investors…somebody who has gone through the same as the entrepreneur.

The accelerator business model is really hard and I saw it would lead me to do things i was not fond of like selling to big corporates. So we are just a club of friends.

Follow the rest of his story and reflections in the podcast:

And today, what is your day to day life like?

I am spending my day on the phone. Basically spending my time on Seedrocket for founders fund, talking to entrepreneurs all day and to my own small investments. Spending my time talking to the different business.

Today I live off my own investments. It started out as ahobby and evolved into investments who have brought high returns.

As an entrepreneur, what do you recommend? How to start a technological project?

First thing, find a team. And then, launch.

Find the best team. This does not have to be a guru, nor the most experienced person but good people.

How do you define good people?

There are people with a certain talent and attitude.

I don’t mean technological capacities — Especially if the founding team are able to gather smart people around them and give less experienced people the chance to learn. This was amazing at Offerum, the team was growing with the company. When you are 23 years old, you don’t have any experience, everything you do is for the first time, but some people have a certain talent, a capacity that can be build out.

The hardest is finding good people. And there is no manual. And what is ‘good’ is hard to define.

Even talking to professional investors, the topic of good people has no answer. I think it boils down to ‘perception’, the perception you have of the person.

What is the last investment that you are crazy about?

Tuvalum — a bike marketplace.I like it because it combines SEO and a marketplace, of demand and offer, which gives room to arbitrage. It’s a very interesting project now and I believe it’s replicable internationally. In 3 years I have no idea how I will see it, this is pretty random but at the moment I really like it.


Listen to our podcast to learn more about Jesús Monleón and emagister’s journey. Learn more in this Podcast in Spanish on our Youtube channel, listen to it on iTunes or enjoy it through iVoox and subscribe to our newsletter to stay always up to date.

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W.

WHY YOU SHOULD CONSIDER A COWORKING SPACE FOR YOUR STARTUP

Your home office or a coffee shop won’t be enough!

Yes, we all know the tale about the guy who starts a small company in their garage or basement, has a brilliant idea and becomes the next Steve Jobs. It’s true, most successes have very humble beginnings. It’s also true that not all garage or basements are going to magically get you a successful business. They might work in the very (veeeery) early stages of your startup, but you can’t always meet a client at coffee shops, not to say your basement. 

A great, if not the best, solution is to find a coworking space. Coworking spaces have become very popular all over the world, either for freelancers or entrepreneurs and startups. 

Coworking spaces are not just big rooms with desks and chairs with high-speed wifi. The areas are made to be exciting places to work and improve your productivity.

As a startup, you need to find resources fast and affordably. More importantly, you’ll need motivation. This is why you should consider a coworking space. 

Here are some basic but amazing benefits from coworking spaces:

Community

Joining a coworking means joining a community.  Being surrounded by other entrepreneurs, freelancers and talented independent people is without doubt a one of the best features of a coworking.

Motivation is key when starting a new project and trying to develop your own business. The road will get though and you’ll appreciate other entrepreneurs’ vision and support! Other workers’ feedback can be very useful to improve your service/product before trying to sell it to the world. 

Networking, networking and…networking!

As a startup, you’ll be looking for networking opportunities. Most coworkings host professionals from different kind of industries, which can open up many doors for you and your business. Not all coworking spaces are about networking, some of them prefer to have a quiet individual work environment, so as a startup you have to make sure to choose a coworking with networking opportunities.

At Itnig, for example, we love to share ideas and support other entrepreneurs. Don’t be shy, some of the other coworking tenants can bring great business opportunities, or even become new clients (and friends)! 

Budgetfriendly

As entrepreneurs (or people for that matter) it’s very important to understand the importance of money, more specifically: budget. Tight budgets call for smart spending. Coworkings are usually budget friendly, most of them offer different membership options depending on your startup’s needs and budget.

Amenities 

A coworking provides you with everything needed to be as productive as possible. High speed internet connection, printers, conference rooms and COFFEE. Some coworkings even plan afterwork activities and events to make it all more fun! As a startup, a coworking space is your best chance at having all the basic amenities but also the fun ones, like a ping pong table or a nice chill out terrace. 

Happy clients

As you grow and have more clients, it can get messy if you keep meeting them in coffee shops. Coworking spaces offer office services such as conference rooms. That way your meetings will be more professional and comfortable for everyone. 

Barcelona is a city full of coworkings of every kind! Our Itnig community keeps growing, we now have up to 20 startups such as Andjoy, Classlife, Factorial and Freeverse, all under the same roof. We have afterwork activities and we also plan different kinds of events open to anyone interested in marketing, tech stuff, entrepreneurship and design. Our space is about 2.100m2 with up to 800m2 of conference rooms, events space, ping pong and fun activities. 

There’s also  wifi, endless coffee and talented people. Join us!