keskiviikko 12. huhtikuuta 2017

Financial Management and Valuation of Startups Part 2 - IWBAS

Interview with Mr. José Luis Ruiz del Portal Tranche

We interviewed Mr. Ruiz
 del Portal Tranche on Wednesday 29 March about higher education, working life for the graduates and business relations in Spain. 

Higher education, business studies

Mr. Ruiz del Portal Tranche kindly told the standards to the Spanish application process, structure of studies and durations of studies come from European standards MBA and BBA. Students who apply to the business studies need to have a certain average of grades and a minimum degree from earlier studies. Applicants have a central exam of two days to test their skills.

There are two different variation of higher education in Spain; public schools which are financed by the state and private schools. Private school system is close to the system in USA. Studying in a private school is very expensive. The BBA studies last four years.

Working life for the newly graduates

After the business studies not so many students want to become entrepreneurs in Spain. It is common at the moment students move abroad after studies to find a job. The most important reason for this is that the unemployment rate is high. Mr. Ruiz del Portal Tranche thinks it will be easier in a few years to find a job after studies because at the moment Spain is recovering and growing. Already in 2016 about 500 000 new jobs were generated.

Business relations

Mr. Ruiz del Portal Tranche has lived in Netherlands over 20 years. At the moment he doesn’t know if the trade between Spain and Finland will grow.

Mr. Ruiz del Portal Tranche shared tips about what to take into consideration while doing business with the people from Spain. He told the Southern Spain is more chaotic and informal compared to the Northern Spain. Overall Spanish people are talkative and flexible. Mr. Ruiz del Portal Tranche told Spaniards are not always so reliable of their word for example they might say:  ” I will call you later”, which does not necessary mean they will call. Another example he told was it is common to have one to two months of term of payment. Most importantly Mr. Ruiz del Portal Tranche told that the Spanish are not as organized and strict about timetable as the Finns are. Mr. Ruiz del Portal Tranche mentioned younger generations speak more English than older generations in Spain. That’s why it would be important to be able to speak Spanish.

Business world in Spain is very hierarchical. Bosses are not very open for critic coming from the employees. Overall people don’t work so well in groups for example compared to the people in Netherlands. It might be difficult to get in touch with someone in charge since it is normal to have a secretary.  

Five most interesting points about the lecture:

  1. What investors are paying attention to when evaluating whether to invest in a startup
  2. How to increase the value of a company
  3. How much of shares should the entrepreneur be willing to give to investors
  4. Different kinds of metrics to calculate a business’s success.
  5. Is a business scalable or not

     Written by: 16liko5