Comments on: The value of positive advisors http://www.fabricegrinda.com/entrepreneurship/the-value-of-positive-advisors/ Thu, 09 Feb 2012 20:59:42 +0000 hourly 1 http://wordpress.org/?v=3.3 By: Alexander Straub http://www.fabricegrinda.com/entrepreneurship/the-value-of-positive-advisors/comment-page-1/#comment-7167 Alexander Straub Mon, 01 Jun 2009 16:51:57 +0000 http://www.fabricegrinda.com/?p=720#comment-7167 Fabrice, what a brilliant piece, I totally agree with you. The last paragraph tells it all, you are 100% spot on and most people who have not build startup would never understand. We had the same experience at mondus, and all the numerous companies I have been building since. If IBX / Portum (on demand sourcing software), or OB10 (e-invoicing network), ((truphone)) http://www.truphone.com, the truely global mobile phone operator or now PIXSTA and its first implementation of Visual Search in the Fashion Field with Empora http://www.empora.com Smart strategic decision can make huge difference and I am in constant search for people joining my boards to add to the value of our companies at Straub Ventures. All the best, Alexander Straub Fabrice, what a brilliant piece, I totally agree with you. The last paragraph tells it all, you are 100% spot on and most people who have not build startup would never understand. We had the same experience at mondus, and all the numerous companies I have been building since. If IBX / Portum (on demand sourcing software), or OB10 (e-invoicing network), ((truphone)) http://www.truphone.com, the truely global mobile phone operator or now PIXSTA and its first implementation of Visual Search in the Fashion Field with Empora http://www.empora.com

Smart strategic decision can make huge difference and I am in constant search for people joining my boards to add to the value of our companies at Straub Ventures.

All the best,
Alexander Straub

]]> By: Lucas http://www.fabricegrinda.com/entrepreneurship/the-value-of-positive-advisors/comment-page-1/#comment-7112 Lucas Mon, 11 May 2009 15:01:51 +0000 http://www.fabricegrinda.com/?p=720#comment-7112 love it ! =) love it ! =)

]]> By: Madalin Matica http://www.fabricegrinda.com/entrepreneurship/the-value-of-positive-advisors/comment-page-1/#comment-7048 Madalin Matica Thu, 23 Apr 2009 11:18:50 +0000 http://www.fabricegrinda.com/?p=720#comment-7048 Great story. Well..I guess it's time for you to do it again :) Looking forward to see your next big thing up&running Great story. Well..I guess it’s time for you to do it again :) Looking forward to see your next big thing up&running

]]> By: daniel costa http://www.fabricegrinda.com/entrepreneurship/the-value-of-positive-advisors/comment-page-1/#comment-7010 daniel costa Sat, 18 Apr 2009 03:28:36 +0000 http://www.fabricegrinda.com/?p=720#comment-7010 It was a pleasure to deal with you and the Japanese... Excellent entrepreneurial experience! YES we STILL can!! Let's do IT again ;) It was a pleasure to deal with you and the Japanese… Excellent entrepreneurial experience! YES we STILL can!! Let’s do IT again ;)

]]> By: Fabrice Grinda http://www.fabricegrinda.com/entrepreneurship/the-value-of-positive-advisors/comment-page-1/#comment-7006 Fabrice Grinda Thu, 16 Apr 2009 10:38:56 +0000 http://www.fabricegrinda.com/?p=720#comment-7006 Zafari: Long story. Sales went from $1 million in 2002, to $5 million in 2003, to $50 million in 2004 and $200 million in 2005. I sold the company in May 2004 and stayed as CEO until December 2005. Unfortunately the Japanese company I sold it to was impossible to work with. They did not speak English. They did not understand the business. They did not let me invest in diversifying our revenues and expanding into conjoint businesses. Instead they took our profits and sent them to Japan. As a result, when, after I left, the margin compression and disintermediation I had told them would happen started happening, they were caught unprepared. Moreover, they managed to alienate pretty much the entire management team which left. Ultimately, they realized they could not manage the company and having lost most of their clients, they merely closed the business down. It was very sad. I definitely sold the company to the wrong buyer. Zafari:

Long story. Sales went from $1 million in 2002, to $5 million in 2003, to $50 million in 2004 and $200 million in 2005. I sold the company in May 2004 and stayed as CEO until December 2005.

Unfortunately the Japanese company I sold it to was impossible to work with. They did not speak English. They did not understand the business. They did not let me invest in diversifying our revenues and expanding into conjoint businesses. Instead they took our profits and sent them to Japan.

As a result, when, after I left, the margin compression and disintermediation I had told them would happen started happening, they were caught unprepared. Moreover, they managed to alienate pretty much the entire management team which left.

Ultimately, they realized they could not manage the company and having lost most of their clients, they merely closed the business down. It was very sad.

I definitely sold the company to the wrong buyer.

]]> By: Zafari http://www.fabricegrinda.com/entrepreneurship/the-value-of-positive-advisors/comment-page-1/#comment-7005 Zafari Thu, 16 Apr 2009 01:23:11 +0000 http://www.fabricegrinda.com/?p=720#comment-7005 If it were huge success why the hell today zingy is no more along with the acquired vindigo. Something was not revealed yet? If it were huge success why the hell today zingy is no more along with the acquired vindigo. Something was not revealed yet?

]]> By: Fabrice Grinda http://www.fabricegrinda.com/entrepreneurship/the-value-of-positive-advisors/comment-page-1/#comment-7001 Fabrice Grinda Tue, 14 Apr 2009 21:29:24 +0000 http://www.fabricegrinda.com/?p=720#comment-7001 Laurent: No one was pushing me to sell Zingy. I had no board or real investors - not through intelligent foresight, but because I could not raise any money for Zingy. Imagine raising money in 2001 for a B2C, telecom project. I don't thing I had finished the sentence that VCs had hung up on me :) Laurent:

No one was pushing me to sell Zingy. I had no board or real investors – not through intelligent foresight, but because I could not raise any money for Zingy. Imagine raising money in 2001 for a B2C, telecom project. I don’t thing I had finished the sentence that VCs had hung up on me :)

]]> By: Motivation, perseverance and stubbornness http://www.fabricegrinda.com/entrepreneurship/the-value-of-positive-advisors/comment-page-1/#comment-7000 Motivation, perseverance and stubbornness Tue, 14 Apr 2009 19:29:57 +0000 http://www.fabricegrinda.com/?p=720#comment-7000 [...] Another very motivating post from Frabrice Grinda, founder of OLX: The value of positive advisors. [...] [...] Another very motivating post from Frabrice Grinda, founder of OLX: The value of positive advisors. [...]

]]> By: Laurent Kretz http://www.fabricegrinda.com/entrepreneurship/the-value-of-positive-advisors/comment-page-1/#comment-6998 Laurent Kretz Tue, 14 Apr 2009 18:55:26 +0000 http://www.fabricegrinda.com/?p=720#comment-6998 sorry: actually 3 years for OLX vs 14 for Craigslist (1995) sorry: actually 3 years for OLX vs 14 for Craigslist (1995)

]]> By: Laurent Kretz http://www.fabricegrinda.com/entrepreneurship/the-value-of-positive-advisors/comment-page-1/#comment-6997 Laurent Kretz Tue, 14 Apr 2009 18:48:55 +0000 http://www.fabricegrinda.com/?p=720#comment-6997 As the post telling the story of your first ventures, again a great motivating post! You say you've seen "many great companies fail, while lesser ones were sold successfully" thanks to "smart strategic decisions". I think that there are no bad products, only poor sales reps. Placing OLX through distribution channels to get classifieds and traffic, pushing the product in developing countries with double figures internet population growth rates,... is just what makes OLX in 2 years what Craigslist took 10 to achieve. Also, while your Dad was urging you to wait to sell Zingy, I would be curious to know who (at the same moment) was pushing you to sell, and what their role was reg. Zingy ? Board advisors? board members? stakeholders? As the post telling the story of your first ventures, again a great motivating post!

You say you’ve seen “many great companies fail, while lesser ones were sold successfully” thanks to “smart strategic decisions”. I think that there are no bad products, only poor sales reps. Placing OLX through distribution channels to get classifieds and traffic, pushing the product in developing countries with double figures internet population growth rates,… is just what makes OLX in 2 years what Craigslist took 10 to achieve.

Also, while your Dad was urging you to wait to sell Zingy, I would be curious to know who (at the same moment) was pushing you to sell, and what their role was reg. Zingy ? Board advisors? board members? stakeholders?

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