5 Keys to Success For Social Entrepreneurs: Lluis Pareras at TEDxBarcelonaChange



I am the bad guy really I'm a venture capital investor I am the bad guy and I'm here not to make friends you will see that in in a minute first I'm the guy who says no I receive more than 400 business plans per year and I say no to more than 98% of them so how about that for being a bad guy and so my mind is really focused on destroying the idea on finding reasons to say no on killing the idea but number two and that's really worse than the first one oh boy now you're going to hit me big time because I've been trying to reconcile for the last year's money and the social sector by bringing for profits into the the nonprofit world and some people think these tools shouldn't be reconciled and they say Louis you're corrupting the soul of the social sector by bringing for profits into it and I say look the problems were facing are massive in scale don't tell me about the soul don't you dare tell me about solving those problems let's put everybody to the task for profits and nonprofits to make things better so I'm the bad guy and I'm really pissed stuff to be honest because I see lots of ideas that really could help a lot to lots of people and they never get to the marketplace because they are weak and I'm really terrible that and that's why I raised a venture capital fund to invest in bold innovative ideas and to help get to the marketplace because healthcare sector is very social by nature I mean everything you do in healthcare is social so I would like to share with you tonight the five things social software entrepreneur is have in common social successful healthcare entrepreneurs have in common okay I'm going to do like a reverse top five I'm going to start with number five they do know the real value of an idea let me tell you the real value of an idea is nothing zero nada if you take it to the marketplace it may be worth a lot both in money and social impact but its value depends on its execution not on the idea on itself so that's why we're looking for the team I mean we investors we don't invest in ideas that's so wrong we invest in the execution of ideas which is completely different and therefore we're looking at the team which is the most important thing okay number four they hate and I know Haley a strong word but I use I mean when I say hate I really minute they hate and behind every successful idea that someone who's really pissed off for example this entrepreneur I mean every year in Africa more than 1 million kids die because they drink water that it's not sanitized imagine the magnitude of the problem more than 1 million kids dying every year and there's then there's this entrepreneur that find out that with a straw it's called live show his company he can take the water through the straw and then the straw eliminates with a series of filters all the bacteria that are there and he can manage to save the lives of tens of thousands of kids every year now he deserves all our respect so he was really pissed okay number three they shout their existence to the world there's some moments when I'm for example and my office and then the entrepreneur would come and say Louise I'm gonna pitch you something but please let's keep it secret no one can learn about it because they would copy me you can't imagine how pissed I am going to hear that I mean there's blood in my shirt and it's not my blood so they want to share they shout the resistance to the world okay number two they are paranoid they focus on the weaknesses none of the things that they do good they focus on the weaknesses let me tell you something there is a way to find out if anyone is paranoid or not and I ask always the question and it usually ask the question at the end of the meeting when the entrepreneur is tired and it's caught off guard you see we investors are that smart and the question is mr. chief executive officer of the company what doesn't let you sleep at night now you can imagine how many people say well actually not bad I really sleep well I think I can make in so confident so bold isn't it now I don't want a bet for this guy but then now and then there's someone who says look Luis I mean I'm so frightened because maybe the Federal Drug Administration will kill the project and then there's these two competitors working in Palo Alto California have this technology and they're good and I need to stop them okay okay calm down I understand I understand okay so these are the guys that I want to bet I'm finally number one and the most important so far I mean by for its they they look both at the social impact and money at the same time okay and they do so because they know the idea is bold is big they need to attract money they need to attract venture cap and you know as a society we have a problem ourselves because we I mean we see a CEO for example of a dot-com company and he's making I don't know 1 million euros per year and we say I mean and and these guys a god ok but then we see the CEO of a company that's trying to bring an HIV vaccine to the to the to the sector and the guy tries to make I don't know 200 thousands a year and he's so selfish and he's like a devil I don't get it you gotta be kidding me this guy is actually helping people why should i me and if we want talent to the sector we need to attract the talent and and they need incentives people do respond to incentives ok so we need to bring everybody to the task and attract this talent so finally wrapping up let me tell you just that if you have an idea in healthcare please come and see me let's have a coffee together and maybe you'll find out at the end that I'm not such a bad guy you

12 thoughts on “5 Keys to Success For Social Entrepreneurs: Lluis Pareras at TEDxBarcelonaChange

  • Great talk, love the blood on the shirt line.
    That said, totally agree in regards to the dual vision of impact and money.

  • Here's a summary of the video!

    5. They do know the real value of an idea = nothing. zero.
    The value depends on the execution. not on the idea itself.
    We invest (NOT) in idea. We invest in the execution of the idea.
    PLUS The team is the most important thing.

    4. They hate.

    3. They shout their existence to the world

    2. They are paranoid. They focus on weaknesses. Not on the things they do good.

    1. They look at the social impact and money at the same time.

    HOPE THAT HELPS! HAVE A GREAT DAY!

  • Very interesting insights, your talk has me thinking about a social project I want to develop out of my own youtube channel.
    Even though I don't think I need money to get it going your insights will help me a lot to question my own attitude to the project, so thanks for that Lluis.
    Johnnie Lawson

  • Gives great insight on hard-nose choosing of projects for profits! Solving problems for profits and nonprofits. Great 5 keys social entrepreneurs. Believes the real value of an idea is "nothing" because the value depends on execution of the idea.

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