El emprendedor dentro de ti: Transformando ideas en realidad | Hugo Córdova Rivera | TEDxUPDS

Introduction and Personal Anecdote

• About 10 years ago, the speaker was in a similar situation to the audience, attending a congress where they were supposed to learn more about their career, but instead, they ended up learning about technology, which was contrary to their field of study in law (16s).
• At the congress, the speaker sat next to one of their law professors, who had attended the event out of curiosity, and they started a conversation that would change the speaker's life (45s).
• The conversation led the speaker to realize that humans are social animals, and interactions with others can create great opportunities for individual growth (1m7s).
• The professor eventually became one of the speaker's mentors, business partners, and investors, and they learned a lot from each other, including how to deal with defeat and failure (1m31s).

The Entrepreneur Within and Misconceptions

• The speaker wants to convey that everyone has an entrepreneur inside, regardless of their career, and that the concept of entrepreneurship has been misinterpreted as only being about providing a service or product to obtain economic resources (1m59s).
• The speaker believes that education, life situations, and personal experiences can help create innovative solutions to problems in society, not just individual problems (2m36s).
• The speaker asks the audience if they have ever had an idea that could have changed their life but didn't know how to capitalize on it or execute it, and is sure that most people have had such ideas but didn't know how to implement them (3m12s).
• The speaker thinks that one reason people don't pursue their ideas is that they may have studied something unrelated to the idea they have, and suggests that children are a good example to follow because they are objective and straightforward in what they say (3m43s).
• Children often have big dreams and solutions to problems, but these tend to fade away as they grow older, and it's essential to support and encourage them to turn their dreams into objective solutions to society's problems (4m1s).

Innovation and the True Meaning of Entrepreneurship

• When considering entrepreneurship, innovation is necessary, which involves doing things differently, often in response to problems, and this is the best time to make a positive impact despite the current economic and social challenges (4m36s).
• The true meaning of being an entrepreneur is not just about starting a business to make money, but rather about providing solutions to societal problems, beginning with one's own problems (5m22s).
• Many successful global companies were founded by individuals who created solutions to problems directly related to themselves, and it's not necessary to have an MBA or a high-level education to create a positive impact (5m43s).
• Many people with successful businesses, including those without formal education in economics, manage finances effectively, and this is evident in Bolivia where some entrepreneurs have achieved significant economic growth despite not having a formal education (6m27s).
• There is a flaw in the education system, which focuses on teaching how to make money but doesn't always translate to the educators themselves having financial success, and this flaw presents an opportunity to find new solutions to societal problems (7m24s).
• An entrepreneur is someone who provides feasible solutions to the significant problems faced by society (7m42s).

Examples of Low-Budget Entrepreneurial Ideas

• Examples of successful ideas with low budgets include online cooking workshops, which highlight the importance of proper nutrition for emotional well-being and stress management in entrepreneurship and personal growth (7m52s).
• Urban gardens are another interesting idea that can facilitate food access during scarcity, and this concept can be developed into an entrepreneurship project (9m10s).
• Creating courses to help older adults adapt to technological changes is a viable and affordable business idea that can be implemented without requiring extensive university education (9m48s).
• Clothing exchange parties are a great way to optimize resources and reduce spending during economic crises, and this concept is a result of entrepreneurial ideas from young people who are not held back by fear of failure (10m19s).

Overcoming the Fear of Failure and the Innovation Process

• The fear of failure can be a significant obstacle to implementing ideas, but it can be overcome by following three essential tips and understanding the three phases of the innovation process: observation, ideation, and implementation (11m0s).
• Observing the world with a different perspective can help identify problems that need to be solved, and this process can start immediately by paying attention to the challenges faced by people in daily life (11m31s).
• Money is not the primary objective, but rather a secondary one that will eventually come when a problem is solved for a sector with an urgent need for a solution (11m54s).
• To solve a problem, one must put themselves in the shoes of the person experiencing the issue, as it is technically and practically impossible to do so otherwise (12m17s).
• The process involves two phases: understanding the problem by putting oneself in the other person's shoes, and then implementing a solution from a personal perspective (12m30s).

Understanding the Problem and Implementing Solutions

• A successful example of this approach is a restaurant that understands its target audience is a person with hunger, and the most effective marketing strategy is to put the business in front of that person (13m31s).
• This approach is also seen in famous companies such as Airbnb, Uber, and Dropbox, which were created by founders who experienced a problem and found a solution (14m12s).
• The founders of these companies, such as Airbnb, initially struggled to pay rent and created strategies to overcome this issue, leading to the creation of a successful business (14m37s).
• Similarly, the founders of Uber experienced difficulty finding a taxi, leading to the creation of the company (14m45s).

The Importance of Perseverance and Learning from Failure

• Despite their success, companies like Uber and Dropbox did not initially generate significant income, with Uber only starting to capitalize and generate income in 2019, after nearly a decade of operation (15m12s).
• Some companies, despite not being profitable at first, have become successful after a decade, highlighting the importance of perseverance and not giving up in the face of failure (15m48s).
• If companies like OpenAI, the creators of ChatGPT, had given up, they wouldn't be where they are today, even though they were on the verge of bankruptcy and had a limited budget to function for a few months (16m28s).
• The key difference between successful companies and ordinary people is their resistance to failure and not giving up, as failure is a crucial tool for validating ideas and achieving success (16m55s).
• Accepting failure as part of the process allows individuals to learn from their mistakes and eventually create a successful product or service that has been validated by numerous failures (17m17s).
• Thomas Edison's invention of the light bulb is a classic example of perseverance, as he reportedly failed over 1,000 times before achieving success, but he viewed each failure as a step towards his goal (18m8s).

Collaboration and Networking for Success

• Collaboration is also essential, as working with others can lead to success, and not sharing ideas due to fear of them being stolen is a misconception, as collaboration can lead to greater achievements (19m1s).
• One of the few Bolivian companies has raised over a million dollars in investment, and it is likely the only technology company with a lawyer behind it, indicating the importance of collaboration and networks in achieving success (19m16s).
• Despite the achievements, there have been thousands of failures, and it is inevitable that failures will continue to exist, but it is better to face them collectively rather than individually (19m29s).
• Collaboration and networks are crucial in reducing the risk of failure in any project, and creating spaces for networking and innovation can help mitigate this risk (19m43s).
• This event should not be an isolated occurrence, but rather an opportunity to create networks, exchange numbers with speakers and other attendees, and collaborate on projects (19m51s).
• Working in groups can be more beneficial than working alone, as it allows for collective learning and innovation, similar to studying for an exam in a group (20m20s).

The Value of Time and Embracing Opportunities

• The most valuable resource that can be shared is time, and it is essential to make the most of it, as it is limited, unlike resources and ideas, which can be unlimited (20m40s).
• It is crucial to convert obstacles into opportunities for personal growth, and by doing so, everyone can achieve professional and entrepreneurial success (21m2s).
• Setting goals and working towards them can lead to success, and it is essential to make the most of the time available to achieve these goals (21m10s).