TV Shows For Entrepreneurs

Is there such a thing as TV shows for entrepreneurs? As a busy entrepreneur, you probably don’t have a Friends marathon as a priority (no hate intended, we love Friends).  Truth is between work, family, trying to have a social life and maybe even making it to the gym, time is limited for Netflix, HBO, Amazon Prime or whatever it is that you use to watch your favorite series. 

However, we strongly believe that a good tv series can be useful to disconnect for a while and even inspire and motivate you. We came across 6 binge-worthy TV shows for entrepreneurs and the startup community:

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Top 5 Tech, Entrepreneurship & Marketing Communities in Barcelona

We found great tech, entrepreneurship, and marketing communities in Barcelona! If you’re looking for after-work activities, you should consider joining communities that share your interests. Being part of a community is part of Barcelona’s culture. You get to learn about different topics, meet new entrepreneurs and projects, and also discover places that you never knew about.

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Why You Should Consider a Coworking Space For Your Startup

Yes, we all know the tale about the guy who starts a small company in their garage or basement, has a brilliant idea, and becomes the next Steve Jobs. It’s true, most successes have very humble beginnings. It’s also true that not all garage or basements are going to magically get you a successful business. They might work in the very (very) early stages of your startup, but you can’t always meet a client at coffee shops. That’s why you should consider a coworking space for your startup.

Your home office or a coffee shop won’t be enough!

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Itnig Coffice Grand Opening

Hi entrepreneurs,

As you may know, our podcast and our spaces are growing fast so as we want to see you often at Itnig, we will organize plenty of tech and startup events. Be sure to join our Meetup group!

We also want to take this opportunity to share with you some nice tools for your business starting from Google’s ranking factors in 2019. If you are looking into understanding finance, check out this article or directly check our recent podcast with CFOs!

– Itnig’s team

Podcast #106: Company valuation with Mattieu Carenzo

In this week’s podcast, we get deep into understanding how to know how much a company is worth. Mattieu Carenzo is a professor on Entrepreneurship at IESE and a successful early-stage investor in companies like Glovo.

Mattieu, Bernat, and Juan discuss the importance of company valuation when investing. Mattieu even ensures that it doesn’t matter the valuation at which you invest but the valuation at which you divest!

This week’s podcast is brought to you by Colchón Mofeo. Buy your mattress now and get it in just 24. You have 100 days free return and you can save 80€ with the code VCOLE. Check out colchonmorfeo.com and change your idea of rest.

The reasons why Disney will dominate the media industry

Disney is a media industry with no doubt. However, the perception that Disney is only a producer of children’s content is long gone. The company has managed to multiply by 10 its market capitalization in 10 years and I believe it will do it again in the next 10 years based on 3 factors: content, an entry in new businesses, and spillover effects on current businesses.

CONTENT

Disney has been making movies for almost a hundred years. They have been movies for all the family but targeted to kids, which are the ultimate decision-makers when going to the movies. This is an example of the classical content they were producing up until the last 10 years.

Found in Pinterest https://www.pinterest.es/pin/129548926755761740/

Despite having a powerful content library, Disney has amassed the most impressive collection of content in the world via acquisitions:

  • 21st Century Fox: 71B
  • Lucasfilm (2012): 4B
  • Marvel (2009): 4B
  • Pixar (2006): 7B
  • Hulu (2009): ??. They acquired 30% and an additional 30% with the acquisition of Fox

With the recent acquisition of Fox, there are only big four other movie studios left in the market: SonyWarner BrosUniversal, and Paramount.

Just to give perspective. This is the list of the top 3 grossing movies for the last 3 years. Spoiler, they are all from Disney:

  • 2017: Star Wars The Last Jedi (rubbish if you ask me), Guardians of the Galaxy 2 (not great) and Beauty and the Beast.
  • 2018: Black Panther, Avengers: Infinity War and Incredibles 2.
  • 2019: Avengers: Endgame, Captain Marvel and Aladdin (Still not counting with Toy Story 4, Spiderman, The Lion King, Frozen 2 and Star Wars: The rise of Skywalker)

Having content as an asset in the movie industry is relevant because of the fact that over 90% of every year’s Top Box Office Hits are not original. Notice that the 9 hits mentioned above are not original content, including Captain Marvel which is a character well known despite debuting in theaters. Moviegoers are risk-averse and showing characters the public is familiar with is synonymous of success in a market where the production of a movie can cost hundreds of millions of dollars.

Another essential part of the content are the actors. They give credibility to a movie and top talent can’t wait to appear on a superhero movie. Just look at the roster of Avengers Endgame with cameos from the likes of Robert Redford, Rene Russo, Michelle Pfeiffer, Michael Douglas, Natalie Portman, William Hurt, Samuel L Jackson or Ken Jeong, the Asian character on The Hangover. All of this without accounting for the main characters. Where else can you see this?

Source: https://www.editorchoice.com/avengers-endgame-cast/

NEW BUSINESS

One of the acquisitions mentioned is Hulu, a streaming platform in the US which also allows watching live content. I believe this is the future. Cable TV operators are doomed. The number of subscriber to Cable TV in the US has declined over the past years.

Source https://www.statista.com/statistics/536356/cable-shopping-networks-revenue-usa/

It’s clear the consumers are opting in to streaming on-demand platforms such as Netflix, HBO, Hulu, and Amazon Prime. That’s why Disney is launching Disney +.

This is a global trend. People across the world may not own a TV, but they have smartphones and internet connection. Netflix has launched a 3$ monthly cell-only subscription in India. Check this relentless growth of subscribers by Netflix.

Take a look at the last Shareholders report by Netflix, a public company that is burning billions every year -3,5B$ in 2019- and is expected to invest 15B$ in 2019 alone in new content. In my humble opinion, Netflix has by far the best streaming platform and the content is remarkably good, just look at the masterpiece Stranger Things season 3.

Source: https://s22.q4cdn.com/959853165/files/doc_financials/quarterly_reports/2019/q2/Q2-19-Shareholder-Letter-FINAL.pdf

Netflix will be the main competitor of Disney, who will claw back its content from other platforms over the next years, reducing the earnings of licensing rights, but attracting customers to their platform. I believe there will be a time where platforms won’t share much content, but eventually, this will rise opportunities for multiplatform viewing apps and some years from now, platforms will reshare content once they settled a loyal customer base. Users will be subscribed to multiple platforms and they would still like to watch what’s best in every one of them. It’s not a winner take it all market.

My final bet is that there’s another big piece of content that is currently slipping away from streaming platforms, live sports. This is the last resort of traditional TV and cable TV operators who have been able to tell customers when and where to watch TV. This is no more, TV is dead.

SPILLOVER EFFECTS

Let’s get some perspective here. Disney is a corporation that currently (2019) has annual revenues of around 70B$ and a net income of around 13B$ (15–20%). Where do they make money from? This is a comparison YoY between the fiscal years ended on September 30th. of 2018 vs 2017. All areas grow except for merchandising. Figures in B$.

Source: company reports

MEDIA

The main source of income is Media Network, which comes from ESPN, Disney Channel, ABC… Here’s the evolution of this revenue stream fro the last decade.

Source: https://www.statista.com/statistics/193211/revenue-of-walt-disneys-media-network-business-since-2008/

With the acquisition of Fox, this chart is going to experience a huge vertical shift.

PARKS AND RESORTS

Parks and resorts are the second biggest revenue stream of the Mickey Mouse company.

Walt Disney World Resort (Flick: Atiq Nazri)

This is a chart with the number (in millions) of yearly by visitors by each park. Around 150 million people go to a venue managed by Disney somewhere on the planet. This can only be achieved by a great hospitality experience and the best content:

Source: https://www.statista.com/statistics/194247/worldwide-attendance-at-theme-and-amusement-parks-since-2010/

STUDIO

This is the revenue that comes from the distribution of movies and music.

The chart below displays the Box Office market share evolution. Disney has managed to multiply by 2,5 in ten years, and now with the inclusion of Fox, the market share could get just shy of 50%, which is ridiculous. This is a major spillover effect from the massive content acquisition.

Source: https://www.cnbc.com/2019/06/14/disney-on-pace-to-earn-9-billion-at-the-global-box-office-in-2019.html

DIRECT TO CONSUMER

This is where the new platform Disney + will come into play. Disney + is a SVOD (Subscription Video on Demand) as far as we know. Other alternatives are AVOD (Advertising Video on Demand) where the users access for free but get adds (Youtube) and TVOD (Transactional Video on Demand) which is what Google is doing among others.

One of the first screenshots Disney shared for Disney +

So far they have had Hulu in this category, but with the introduction of Disney +, this will become of the main revenue streams for Disney. Eventually, the main one if you ask me. My guess is that in one year, Disney + can produce revenues of about 20B$ and grow from there. This is what Netflix is doing right now.

The advantage of Disney + is that they already have the content and they would only need to produce specific content for the platform such as The Mandalorian or the Marvel spinoff series with Black Widow and more. That would imply big operating profits since most content has already been amortized. The downside, however, will be the loss of the licensing revenue they get from streaming onto other platforms included in the Studio section. I’m betting this will be a money-printing machine.

CONCLUSION

Disney is a media industry, a company that has endured through decades, and over the last years has taken on a path of content acquisition and generation that pays off very well. This is why I am “holding” on its stock.

Disney’s stock price evolution over the years

Itnig invests in Syra Coffee ☕

Itnig invests in Syra Coffee and to tell you all about it, in our episode #100 we interviewed Yassir Raïs, founder of Syra Coffee, who is rapidly growing a successful business in the specialty coffee sector. We at Itnig deeply believe in his project and we have decided to invest in accelerating its growth!
Syra and Itnig together became what we call Coffice, an office space that offers coffee for everyone.

Podcast #100: From 1 to 100 cafeterias with Yassir Raïs from Syra Coffee

We got to the podcast 100 already, and to celebrate it we have invited Yassir Raïs, founder and CEO at Syra Coffee. At Itnig we believe in the potential of his project and Itnig invests in Syra Coffee through the Itnig Fund to support its growth. His claim is to democratize coffee, good coffee. He believes that specialty coffee should not be expensive but it should remain of outstanding quality. His success in his fist shop in Gracia (Barcelona) has encouraged him to dream big and scale the business to become the leader in the sector.
We compared the business to Luckin Coffee (over 1.700 shops) and Starbucks. Check it out here!

View on YouTube | Listen on Spotify | Listen on Apple

Syra was born in 2015, in a small pedestrian street in the neighborhood of Gràcia, in Barcelona.

A design-driven coffee company

Small coffee shops, take-away, meticulously designed, and focus on one product only: specialty coffee. They are coffee-roasters and select import, cup, and roast every single bean of coffee served in their shops.

Every product, merchandising, coffee, location, or communication is meticulously thought, develop and created, internally. From our takeaway paper cups (customized even in the most invisible parts) to every single corner of our coffee shops, and to our unique communication with costumers.

Come to Itnig Coffice on Pujades, 100 and have a delicious cup of coffee while meeting super interesting people!

Bernat Farrero – On Sales Leadership

Bernat Farrero on sales leadership:

I want to talk about sales leadership and to do so, let’s start with some of the values that define a leader:

– A leader is somebody who reaches their goals and achieves beyond their individual abilities aligned with their own values and the organization’s values. A leader without a team is not a leader. A leader works for the team, not the other way around.

– Humbleness. Leaders must get to know themselves first, acknowledge their limitations. Acknowledge they have no recipe for success (no one does). They will succeed only by being curious and trying things faster, testing, changing things again, failing again, learning as fast as possible. In sales, everybody notices when things work well, success is measured in € vs budget. A leader must embrace results with no buts and take action to reach the goals.

– A leader works harder, a leader cares about the goals more than anybody else, they took full ownership of the goals. A leader does about anything to remove bottlenecks away on his team, they assist, train, support everybody, anything it takes. They are always the best resource for their team.

– A leader will always be available for everybody in their team, for personal and professional issues. They go the extra mile. They make sure everybody knows that. They earn the team’s trust.

– A leader makes everyone aware that teamwork is not negotiable. Without a cooperative team, there’s no leader. Lone wolves kill the growing/changing organization. Growth happens only WITH the team, not at their expense.

– Leaders communicate all the time, they don’t keep things to themselves, they are honest with their team. They share good and bad. They share the why’s. They trust their team. Trust precedes process and it is the only path to grow at a scale.

– Leaders learn fast and learn mostly from their team. The team has the most valuable knowledge a leader can get, it doesn’t come from books, blog posts, degrees or mentors. The team gets the real shit from the front line. A leader listens to their teams’ impressions and ideas, they explore them all and give feedback. Leaders generate a culture of idea generation and idea sharing. Leaders stay away from guru preaching.

– It’s important to understand people’s personal and professional ultimate goals and motivations. Leaders spend time asking them on their one on ones and they think about them. They write them down. Everybody is playing the movie of their lives, a leader must find out which one is it, they make sure each team member keeps being the hero of their movie.

– Leaders always lead by example, not by title. They show real bravery. Leaders go first to battle. They call leads and close customers. They apologize to customers when the company screws up. They take the shit first. They don’t leave anyone behind. They don’t show their rank, their status, their difference, their pedigree. Startups are flat meritocratic organizations. Leaders must understand well the company goals and they put them first, they are prepared to step down, or step aside, or leave the company at any moment if needed. Company goals are what matters most. Leaders show this to everyone. Company/collective oriented leaders always thrive.

– Leaders celebrate every victory. They visibly show the pain of every defeat. They take every opportunity to show they care. They analyze why/what/how and find out always changes to be made. Then they go and make the changes. They change anything or everything, but never keep on doing what doesn’t work. They shake the whole company inside out before/when goals are not met.

– Leaders set goals that are both ambitious and achievable. They work along the team to make sure they meet the goals. They are flexible when the goals are set wrong. They are implacable when goals are not met.

Most people will never be a leader. It takes time and patience, it takes survival skills, it takes real personal strength. But after committing to all these things, things start to work. Leaders are such when and only when they brought teams to make things work, nobody becomes a leader just by trying it. True leaders make sure they don’t leave the boat until things work (as they will work, ultimately!). They don’t leave the job undone.

– Bernat Farrero CEO at Itnig

Bernat on sales leadership: Bernat has co-founded many companies, such as Itnig, Factorial, Camaloon, and Quipu. His day-to-day, however, is dedicated to being CRO at Factorial. He’s a natural leader with a passion for business development and growth.