Get ready for an extraordinary entrepreneurial journey with Pedro Lima, the resilient founder of "MAIDOT." Pedro's story is a rollercoaster of experiences, from childhood ventures to the creation of a groundbreaking platform. His unwavering determination and resilience have defined his path to success.
The Entrepreneurial Spirit:
What motivated Pedro to embark on his entrepreneurial journey? His passion for innovation and business management began at a young age. Pedro's journey is a testament to his resilience, demonstrated by numerous ventures, setbacks, and the determination to overcome every challenge.
Discovering Market Needs:
Identifying market opportunities is fundamental in entrepreneurship, and Pedro's journey was marked by opportunities that unfolded over time. He initially recognised the potential to create a platform that simplifies the process of requesting quotations from handymen. However, the path to realising this vision was fraught with obstacles.
The early stages of Pedro's entrepreneurial journey were marked by trust, naivety, and challenges. He faced instances of betrayal by acquaintances and challenges related to trust and finances. Yet, Pedro's resilience and determination kept him moving forward.
Building a winning Team:
Building a successful team is crucial, and Pedro prioritizes qualities such as honesty, dedication, and a shared passion for the company's mission. He believes in seeking individuals who genuinely embrace company culture and exhibit unwavering enthusiasm for their work..
The Long-term vision:
Looking ahead, Pedro's vision for MAIDOT extends into the realms of AI and IoT. Collaborating with notable partners, he aims to pioneer groundbreaking projects in these fields, further solidifying MAIDOT's position as an industry innovator.
The essential entrepreneurial Skill:
Resilience, according to Pedro, is the most important skill for an entrepreneur. It's the tenacity to withstand challenges and keep moving forward.
The Driving Force:
What motivates Pedro as an entrepreneur? It's the passion to innovate, improve, and take control of his own future.
Words of Wisdom:
For aspiring entrepreneurs, Pedro emphasizes the importance of research, preparation for pessimistic scenarios, and unwavering self-belief. He encourages continuous learning and innovation as keys to success.
The Impact of Entrepreneurship:
Pedro's entrepreneurial journey has transformed his life, turning naivety into assertiveness, and shaping his understanding of business management. Most importantly, it has revealed the strength of his family, particularly his supportive wife.
Pedro aspires to be an example for others, motivating and leading by example. Sharing his past experiences can help many avoid the pitfalls he encountered.
Pedro's journey with MAIDOT is an embodiment of resilience, determination, and a relentless pursuit of innovation. Explore MAIDOT's mission and vision at www.maidot.pt/en/ and join us in celebrating visionary entrepreneurs like Pedro Lima.
Full interview below 👇
What motivated you to start your company and how did you begin your entrepreneurial journey?
What motivated me to start MAIDOT was at that time (2013) already having more than 10 years experience in web development and business management. I always dreamed of having my own business and actually it all started at a very young age. I have many stories such as starting to sell juice at the age of 9 or close to that, but completely fail at the location, trying a remote control cars shop (at the age os 11) and having only 1 customer, preparing a arcade house, cleaning it, preparing it just to be expelled by the owner after everything painted fresh and prepared (no contract signed and we we very young, at the age of 13 roughly). Having a "bar" that actually started to have some success (at the age os 18) but then a "business partner" cheated all others and stole all money we had made (we ended up having to put our money to pay expenses and close the bar). And many other things along the way. So RESILIENCE is definitely my middle name!
Identifying a market need is crucial for any business. Can you share the story behind discovering the market opportunity that led to your business idea?
Initially, back in 2010 I identified the opportunity to create a platform so that people could go and ask for quotations to handymans, in a very simple and intuitive way. Unfortunately, I could only move forward with the idea in 2013 and even then, I got cheated by a old friend of mine that promised me he would invest a lot of money in the business (leading me to give up on real investors). Turns out he had no money at all and still to this day I don't know why he cheated me like that... Then the platform (called MaiFix) actually had some degree of success, we won a contest with "10 selected national projects" to have an investor putting that business in the US (a Portuguese lawyer born and living in the US). Turns out he literally invested ZERO (although the investment advertising was "capless investment". After so much time and money invested to adapt the platform for the US market, we actually lost market in Portugal. We then tried to sell in Portugal the platform to a big international group (OLX Group in Portugal) and they asked "if we were mad because it had nothing to do with their verticals". A year and a half later, they launched "Fixando", a platform that was at that time a COPY of MaiFix... And other stories alike!
Starting a company often involves overcoming obstacles. Could you tell us about a significant challenge you faced during the early stages of your company and how you navigated through it?
Being cheated multiple times were definitely huge obstacles along the way. I tended to trust a lot in people (too much actually, I was really naive). I was also a little bit cheated by employees, but I guess that's "part of the game".
Building a strong team is essential for success. What qualities were you looking for when assembling your founding team, and what advice do you have for others in this regard?
Better than having an expert employee, is to have an honest and dedicated colleague. Someone we can trust (never blindly though) and that actually embraces company culture (but truly, not just "because it's a funny person"). When we search for someone, we should first search for those that are truly passionate about what they do or will do. Someone that shows that true "gloss in their eyes" when they talk about what they do. Those that like to help others and are always humble to learn more.
Looking ahead, what's the long-term vision for the company? How do you plan to continue innovating and making an impact in your industry?
I'm actually shifting more into AI and IoT. With the proper partnerships that I already got, specially with two professors in the UK, Prof. Dorothy Monekosso and Prof. Paolo Remagnino, we want to create some very interesting projects along the way.
What is the most important skill for an entrepreneur to have?
What motivates you to be an entrepreneur?
The passion to innovate, to do better and have the ability to be in charge of my own future
What advice would you give to someone who wants to start their own business?
First and foremost, do your research! Is there a market for your idea? Great. Now build a pessimistic scenario (I really mean it), can you survive with that scenario? Awesome. Then brace yourself, go forward and remember: there's a great chance for things to actually be worst than your pessimistic scenario, so be VERY resilient! believe in yourself, no matter what. Innovate, listen to other people, create partnerships, learn, learn more and learn again. Keep learning and innovating, you will get there someday!
How has entrepreneurship impacted your life?
In so many ways that almost seem like the wildest ride on a rollercoaster. I turned around from being a very naive person to be a lot more assertive and realistic about my expectations. Learned a TON about overall business management. Last but not least: learned that I have THE BEST FAMILY and without them, I would never be who I am today! My wife is my main pilar.
Is there anything else you would like to share with us about entrepreneurship?
I want to be an example for others. I want to motivate and "lead by example". Storytelling some of my past journeys and what I've been through, certainly will help a lot of people avoiding many mistakes I did.
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