Nico Balestrini's three keys in the creation of a new project

We previously mentioned that Nico Balestrini, a member of Santander X 100, would be our first guest at the TalkX of the second edition of Explorer in 2023. It was a very special conversation, held live in front of those selected for the Explorer Trip Valencia, which took place in September 2023. All of them, along with the users of our Twitch channel, heard the keys of this Argentine entrepreneur when it comes to launching a project.

“The first thing is the idea, and it’s important to keep in mind that you won’t be the only one with a good idea in a particular sector. Competition is there… and that means there is a market, a sign that you have come up with something of interest. Then comes the ‘roller coaster’ phase, the ups and downs. You know you’ll go through that; there will be days when you’ll even argue with other co-founders: starting a company is filled with tough moments, and it’s necessary to be conscious about that. In order to o handle it as best as possible, the third key is listening: let others share their experiences, how they manage their companies,” he explained. Nico delved into the three concepts with questions from our host, Aida Khalil, an Alumni Explorer, and those present in the chat via Twitch.

The idea

How do you recognize a good idea? Nico pointed out three key factors:

1. The market it targets is big enough.
2. It has a good business model.
3. It is well communicated, well-told. Our guest gave us an important piece of advice in this regard: “If you really want to sell something and make a change, do it in person, not in a video call. Of course, initially, contacts will be online, but later on, invest money and time in the journey and visit your client,” he added.

The roller coaster

“One day you’re motivated, thinking you can do it all, and the next day you’re not,” Nico commented, which is why it’s important to surround yourself with a team where someone occasionally suggests taking things calmly.

Of course, there are tips for managing these stages: “You have to separate where you want to go with your startup and when you can do it. Always remember to go back and look at why you did things,“ recommended Origino’s COO.

Listening

The people around an entrepreneur are one of the highlighted topics for our guest: they not only provide different perspectives but are especially important in the early stages. But when we talk about all those around our project, we don’t just mean a network of emotional support but also the individuals who will address practical aspects: “Of course, mentors are very important when you create something new, but at the beginning, it’s also essential to have good lawyers and accountants to avoid errors in bureaucracy or when investing money,” says Nico.

There are more mistakes that tend to occur, and the member of Santander X 100 shared with us the biggest one he had made: “I developed a product a lot without validating it as much as I should have. It’s a mistake to keep moving forward without users: validate first and pivot as needed,” he advised.

Nico Balestrini bid farewell to the attendees of his TalkX by recommending reading Asimov, among other authors. He then spent nearly an hour with selected Explorers in a private session, answering their doubts and questions.

If you want to see which other outstanding entrepreneurs have participated in our TalkX or discover more entrepreneurship tips, take a look at our blog!