On itnig’s Podcast #40 Albert Domingo, CEO at NexTReT and partner at itnig takes us on a journey through his experiences as business creator but also investor and shares his point of view on project evaluation with us.

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


I would like to start telling the story about how we met Albert, our first investor at itnig. This story is closely linked to my own story as Bernat. While I was studying computer science at university I did a three months internship at NexTReT, a software company from Barcelona, Albert’s company.

I realized this was not for me and later set out to create itnig. When at itnig we decided to start our own business, I knew we needed funding but I had no idea where to go so I thought about my internship and went to see the founder and director, Albert Domingo. During my time as intern I had never met him but with this idea, very far from reality we eventually got to know each other. Albert Domingo told me very nicely that NO, he was not interested in investing but however we improved and improved the business plan and idea and eventually got to partner up.

This company was Camaloon, Albert invested and told people in his network about it and we were able to close a funding round with 12 partners.

One thing that Albert told me will always stay with me. It grounded me:

When I invest, I am sure about one thing: If I loose my capital, the entrepreneur looses his health.

He told me this very seriously, I got scared but more than anything this sentences has marked me. 7 years later his words are still in my mind — His message was very clear. Commitment and dedication are very important for Albert.

Albert, what is your story? What did you study and how did you create NexTReT?

I studied engineering and then worked in two companies, the last one in network solutions. When at this time, I made propositions of improvements I did not get very far. I decided to set out on my own, reached an agreement of 5 years with my university and this helped me get to met really good professionals. In 1993 there was a huge crisis in Spain and I was still able to reach new clients so I thought to myself: ”If I can do this now in this time, imagine what this could mean in a good economic time in Spain.”

This was the beginning of NexTReT. Our first client was Esade, then an ex-professor of mine moved to La Caixa, later we reached an agreement with TV3, and so step by step we reached a good client base offering our services in informatic systems and infrastructure. Our promise to the CEO is that their information technology will work, no matter the time of day.

Progressively the company grew, now we are 12 partners.

When I met people interested in creating their own business, I was always ready to help. Share my own experience. I like to share and to add value. That’s how I started to get involved with entrepreneurs, because I think there can be many things to start businesses. In 1999 I got involved in a project doing my first investment.

I have invested in many occasions but for me the investment is consequence of sharing. The order is: Getting to know somebody, and only when I feel good about somebody and trust this person, and I see that the person is committed (it’s not about leading an unhealthy life) we can take a step further into investing. Commitment is fundamental.

Commitment is fundamental, in all things in life.

If a person is not committed, no problem, but there won’t be an investment from my side. For me the first thing I look for is mutual trust, then I need to believe that I can add value and lastly the entrepreneur has to see me as adding value. However, investment is my hobby. my life and work is NexTReT and investment is my hobby.

You say you look for entrepreneurs who are committed to their businesses and don’t just leave their projects. Do you believe that there are some occasions when you see that it goes no further?

Yes, of course. There are times when it does not make sense to pursue. You need to know how to loose and when to stop. Right now for example I am in a similar situation with a great entrepreneur from Valladolid. I told the kid you need to stop. You gave it your all. You did the possible, we have lost the project and the investment but you need to stop and dedicate your talent to other projects.

There are two Albert Domingo — Albert Domingo from NexTReT and Albert Domingo outside of NexTReT. You say investment is a hobby to you but you dedicate a lot of your time. How do you organize your daily life?

My daily life evolves around NexTReT but of course I always manage my calendar myself. I have my family, my hobbies and organize my life around it.

AT NexTReT we have a General Director, we have a clear organizational structure and the business already works very smoothly. I maintain contact with our clients — that’s where I see my contribution.

What companies are you involved with now?

I don’t need to mention itnig’s startups right? To come back to the beginning of our conversation actually: I don’t remember having told you No but I do remember how we met.

Bernat was a kid who told me he wanted to create a business to sell buttons online. I had never bought buttons but he seemed to be a good kid.

Yes of course I am involved in other companies.The last project for example is a company that automizes vending machines, the decision was very quick, I liked the entrepreneur, it’s an innovative idea and a partner of mine is involved.

What is your advice to an entrepreneur who is looking to talk to you? What are you looking for in a project and in a entrepreneur?

I might not be in line with other business angels but for me, personally, I have a kind of order of what I look for.

First, there needs to be trust, I need to see brilliance in the person, I want to share in the project with other people and lastly I look at the project where I look for potential, a clear market and past accomplishments.

If somebody has a clear idea and wants to share it with me, I am happy to listen. If you look for it you will always find time.


Listen to our podcast to learn more about Albert Domingo’s journey and his perspective on investment and entrepreneurship. 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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T.

The story of Nitya’s vocation and dedication for Sales

A Sales profile detected in the Administration department

 

Nitya, Sales Manager in Quipu, has more than 20 years of experience in Sales. She started working very young, as she wanted to be independent as soon as possible. Thanks to her parents, both entrepreneurs, she started doing some administration and accounting very young, helping them in their daily tasks.

But her vocation for Sales was actually born a few years later, while she was working in a real estate agency. Although she was in charge of the administration, she succeeded in selling flats to the clients. This is the reason why she was offered a position in the Sales area in order to benefit from this potential. And here started her career in Sales.

Nitya’s passion for Sales

Today, Nitya has a passion for Sales. She likes being in contact with the clients since the beginning in order to create trust, listening to them and empathizing with them. For Nitya, it is important to understand the clients’ needs to know how to help them using the product she sells. Because if a client does not have the specific needs to be fulfilled by the service offered, they won’t buy it. A seller has to know what he is selling to know who and how he can help, because this is the final satisfaction: closing a deal by helping a client in his business.

A lonely but experienced start in Quipu which led to a team management

Nitya had the opportunity to develop her career in Sales in different firms. This is how Nitya arrived in Quipu with more than 20 years of her professional life dedicated to Sales in SMEs, more precisely in the area of technology and B2B software.

When Nitya started in Quipu, two years ago, she was alone in the Sales department. She was in charge of all the SDR part (Sales Development Representative), she was finding and generating leads, obtaining visits, doing demos of the product, as well as all the follow-up part until closing the sale. Later, people started joining the team as the startup was growing. Today, Nitya is our Sales Manager and she is in charge of the team capturing new firms as potential clients.

Nitya’s definition of the perfect Sales profile

To be able to sell a product to the clients, it is important to have a particular profile. Nitya explained to us what are the most important characteristics according to her to be a perfect salesperson.  

The Sales profile is extroverted and curious. Someone cheeky and shameless who is not embarrassed to ask lots of questions and able to entertain the relationship with the clients through a follow-up. A good salesperson also needs to be able to control their frustration so that if you don’t sell you are not discouraged.

Then, it is important to be flexible and to be able to adapt yourself. However, being able to express yourself and to share your opinion is also important. It is crucial to be able to learn and unlearn, and these are two things totally different according to Nitya. Every person can learn from anyone : juniors, seniors, interns and colleagues from any department.

“There are some things that look good to me, but maybe they aren’t. Sometimes there are new things better than the old ones, and we need to be able to change.”

 

Her daily life in Quipu

Once the acquisition team found people with the needs we cover or people who are looking for our services, these potential clients go to the Sales Team, and a Sales Development Representative listens to them and tries to get to know their business and needs. The aim is to teach them how the software works.

 

Nitya has lots of memories in Quipu. One of her best memories, although, is her first sale. Every time they close a sale, they celebrate it and communicate it to the others by ringing the bell. This is such a satisfaction for her because the whole firm learns of the good news and applause fills the room. She also remembers the first time she called the clients to talk with them about the product, her first demo, etc. Although it was a lot of pressure, it is now a good memory for her.

“In a startup, you have plenty of memories, and they are really good.

This is not a monotonous job, you are in contact with all the teams of the startups.

Things happen every day, this is nothing boring.”

 

As a Sales Manager, Nitya has to make sure the whole Sales Team has all the tools needed to develop the business. Everything needs to be 100% clear so the Sales Team can work. They need to know the pitch to tell to the clients, theirs needs, etc. Individually, they try to achieve common goals.

When Nitya was asked to describe Quipu in three words, she answered that, above all, “eQuipu” is the most important for her.

 

“I could say words like technology, simplifying, etc. But these words you can also find them in many other firms. For me the most important in eQuipu is the energy, vitality, movement, connection, etc.”

 

If you are eager to develop your career in the Sales department of a growing startup and to join this Sales Team which is facing new challenges every day, apply here!