In case you avoided reality last week – because it was a pretty rough one – we introduced Meridian by Latitud, a business account built for venture-backed startups in Latin America with an offshore holding company structure.
(Yep, the kind of startups that are really looking for financial alternatives atm )
If you are interested in our product, register for the beta waitlist to be the first to know when we start onboarding customers.
What is Meridian? Why are we doing this? How did we come up with such a cool name?
Find out on this chat between our CEO Brian Requarth and Patrick Kolencherry, Principal Product Manager here at Latitud.
Latitud team last week: Rocky seas make good sailors 🧘
The rocky seas:
Once upon a time 🧚, Sergio Furio from Creditas said:
"There's no such a thing as a peacetime CEO in LatAm. What the hell is that?"
And we REALLY felt that this time, didn't we? 🥲
When crisis strikes and you are forced to activate your wartime CEO superpowers as an early-stage founder, what do you do?
You go and listen to Stelleo Tolda's reassuring bits of advice on how to act in the face of the storm and with a team that is about to panic.👇
Identify the people who will have to step up and deal with the major issues arising from the crisis. Make sure someone level-headed has this role.
In the case of the recent SVB scenario, it was key to have a person check all liquidity issues and evaluate the company's runway.
Both were key for understanding if you had the cash you needed for, let's say, payroll, urgent suppliers, or a good sense of if your company would survive the next few months. And this had to be done FAST.
Make sure everybody on your team knows what's happening.
Having a very clear communication plan for the whole company is the only way to have every team member on the same page. It will decrease uncertainty and might even push people to GSD in order to help row the boat.
Don't let your team get anxious, just tell them what's going on .
Extra points if you do the same with your stakeholders, clients, and community.
Lastly, breathe. This too shall pass.
To be on high alert and make decisions quickly with little or no information it's horrible a must when facing a crisis. But you should not lose sight of the long-term.
The problem won't last forever and you need to have people thinking about the business mid to long-term as well.
When the storm passes, where will your anchor be?
Last week, right after announcing Meridian to the world, we gathered up with all of our Angel Fellowship community based in São Paulo.
The buzz? Gabriel Vasquez from a16z was in town, so we kidnapped him asked him to give us a live session on how a16z assesses deals.
The truth is, after last week's rough days, being with our community was all we needed. Glad to see every paulista angel IRL and those who connected online as well 💙
Gabe, blink twice if you need help!
Do you or someone you know want to be part of the Angel Fellowship? Check out all the info about our program and join us next time!
Learn about the Angel Fellowship
Our CEO Brian Requarth is now a (baby) shark (tuturu tuturu) and will be part of the investors’ gang in the new season of Shark Tank Mexico 🦈.
Tune in to the Sony Channel – #NoAd – and check if he says "and for that reason, I'm out" to anybody 👀.
(Hot for March 2023)
🇨🇴 Promesas colombianas
Last week, Forbes Colombia shared their edition of "30 promesas de negocio 2023" and, on the cover, we got to see some community fellows 😍 – we feel like proud parents every time this happens.
Shoutout to Francisco Jassir (Farmu), Angela Acosta (Morado), Valen Valencia (Vaas), and Juan Pablo Ortega (Yuno) for strengthening the Colombian entrepreneurial landscape!
-> Every time one of your friends subscribes to our Newsletter, your wartime superpowers activate ✨ So ask them to subscribe!