Endeavor

I M P A C T R E P O R T 2 0 1 7 / 2 0 1 8 Daniel Echavarria is Managing Partner of Ganolian Investments and Director of Organizacion Corona, Sodimac Colombia and Corona Industrial and serves on the audit, investment, governance and nominating committees for several of the companies. He serves on the boards of several of Ganolian's portfolio companies including companies in student financing, healthcare and CPG. Daniel also serves on the board of directors of Fundacion Corona, a non-profit focused on education in Colombia, and chairs its investment committee. He is co-chair of Endeavor Miami and serves on the advisory board of NovoPayment, an Endeavor Miami company. In 2001 he co-founded TeRespondo.com, a pioneer in search engine advertising in Latin America acquired by Yahoo in 2005. Daniel served on the Family Council of Organización Corona in various leadership positions and previously worked at VB&P, a boutique investment bank, and GFG Capital, a multifamily office. He is co-founder of Miami Angels (formerly AGP) and was a founding investor M A N A G I N G P A R T N E R O F G A N O L I A N I N V E S T M E N T S E N D E A V O R M I A M I B O A R D C O - C H A I R in the LAB Miami. He has a Masters in Finance from London Business School and a BS in Business Administration with distinction from the University of Colorado in Boulder. What is the best advice you would give to a company looking to scale? A few comments on this. First and foremost, make sure you have the right team on board. In hiring and retaining talent, focus on character over skills and knowledge. Skills can be developed with training and knowledge can be learned, but character is more difficult to mold. Hire slow and fire fast. Ensure you have a clear understanding of your business economics when investing for growth. Many companies make the mistake of investing in growth before realizing whether their economic model is sustainable and/or profitable at scale. Lastly, don't lose sight of your customer and end- consumer. What is the relationship between company culture and business success? Everything. As they say, culture eats strategy for breakfast. Culture is the intrinsic engine that runs companies. The stronger and healthier the culture, the further the company will go. Why did you decide to become a mentor with Endeavor Miami? As a Founding Board Member, I feel a sense of responsibility towards the organization and its entrepreneurs. It's also a great way to give back to the community. I get to interact with talented entrepreneurs and feel I can have an impact at scale. What have you enjoyed the most throughout your time as a mentor? The part I've enjoyed the most is interacting with the people in the organization: the entrepreneurs, other mentors and directors and the Endeavor Miami team. I've met great entrepreneurs who are transforming their industries and changing the face of Miami. I have also enjoyed meeting and working with other mentors. I've learned and grown from the experience and at the same time I get the satisfaction of giving back. It's a virtuous circle of giving – the more I give, the more I receive. DANIEL ECHAVARRÍA endeavormiami.org

• Cover