In this NGPF podcast, Luis shares with our listeners the trials and tribulations that accompany the start-up world. He discusses the arc of his current venture, Remoov (my investment fund is a small investor), from the conception of the idea to getting that early traction to raising money from investors. Listen to this podcast and you will get a peek behind the curtain to see the grit and persistence required to succeed as an entrepreneur. Enjoy!

Details:

• 0:00~2:01 Introduction
• 2:01~5:08 Luis’s background leading up to Remoov
• 5:08~8:18 Personal finance habits growing up 
• 8:18~13:44 Life post-MBA
• 13:44~18:42 Understanding distressed debt and distressed securities
• 18:42~20:50 The start of Remoov
• 20:50~21:23 A word from NGPF
• 21:23~23:26  The start of Remoov, continued
• 23:26~26:51 The fundraising process
• 26:51~29:31 The consideration of profitability 
• 29:31~32:52 Business model of Remoov
• 32:52~36:14 The hiring process and working remotely
• 36:14~38:39 Experience of being a Latino entrepreneur 
• 38:39~40:25 How to instill entrepreneurship in students 
• 40:25~41:42 Conclusion

Resources:

• Remoov 

Details:

• “People nowadays throw stuff away that has value mostly because of the pain and friction of actually going through the sales process. Maybe if you have one item, you can list it on Craigslist, and it takes 4-5 hours to sell one item. But let’s say you have 10 items, that’s 40 hours and that’s a real pain. What we do is bring efficiency in the process of upcycling.” 

• “The lack of knowledge in personal finance amazes me. This is not just in high school but in college as well and even in business school. How little we really get taught about personal finance and the importance of understanding savings and compound interest and paying off loans with high interest, those little things can make a huge impact and it can allow pretty much anyone to take control of their financial position.”

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.