Posted on Monday, Jan 25th 2021
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We hear a lot from Indian and Chinese entrepreneurs. We hear some from Europeans. But thus far, not as much from Latin American entrepreneurs. WEI President Belisario Rosas is Peruvian, and is also interested in fostering further entrepreneurship in Latin America.
Sramana Mitra: Let’s start at the very beginning of your personal journey. Where are you from? Where were you born, raised, and what kind of background? Belisario Rosas: I was born in Lima, Peru. Sramana Mitra: Did you grow up in Lima? Belisario Rosas: Yes, I did. I went through elementary, middle school, and high school in Lima. When I left, I wanted to study Medicine. So I went to McGill University in Montreal, Canada, to study Medicine. In the second year, I felt that it wasn’t my calling. I had a liking for computers. The IBM PC had just been released and I was hearing all about technology. I decided to not pursue Medicine and pursue business. I graduated with an Economics degree. As a pastime, I worked at a software company in Montreal and was learning part-time about computers. With a friend of mine, we created a small computer company to sell compatible PCs to other students. Sramana Mitra: What year was this happening? Belisario Rosas: This was happening in 1985. Sramana Mitra: You were still at McGill as a student though? Belisario Rosas: That’s correct. Sramana Mitra: What happens next? Belisario Rosas: I graduated and I intended to do investment banking. That didn’t really work out because of the crash. My now wife, Leslie, who was my girlfriend at that time, had just graduated and got a job dealing with digital equipment parts with Europe. Since I was visiting Leslie several times, she asked me if I wanted to run their PC division in South America since she was dealing with Europe. I said yes and worked for those guys for three years. Then we left the company and started our own business. Sramana Mitra: What was that business? Belisario Rosas: Worldcom Exchange. Sramana Mitra: What did you do? Belisario Rosas: At that time, we sold computer parts. Sramana Mitra: Did you bootstrap that business? How did that come about? Belisario Rosas: Yes, we bootstrapped. Sramana Mitra: For how long did you do that business? Belisario Rosas: Till now. That’s where we started our current business. Sramana Mitra: I see. So WEI stands for? Belisario Rosas: Worldcom Exchange Incorporated. Sramana Mitra: Got it. Let’s just go to the founding of the company. Tell me more about what was going on in the industry and why you decided to start the company? Belisario Rosas: We were employed by the previous company which was dealing and brokering computer parts. At that time, Digital Equipment was a US-based company and a leading mini-computer solution company. They had a difference of about 40% to 50% in price with the rest of the world. We were taking advantage of that to sell to European companies. At that time, the owners were a husband and wife going through a divorce. It was unbearable for us and we decided to leave the company.
Our conversation continues
here. This segment is a part in the series : Best of Bootstrapping . Bootstrapping to an Exit . Why is Bootstrapping Important? . How Can You Play this Low-Probability Game Intelligently? . Do NOT Go to VCs as Beggars - Go as Kings . Excess is NOT Required for Success . Bootstrap First and Raise Money Later . Some Bootstrapping to Exit Case Studies . The Buy Side of Bootstrapping to an Exit . Blitzscaling vs. Bootstrapping . Bootstrapping to Unicorns More »» . Cinedigm Acquires Bootstrapped 1Mby1M Company Future Today for $60 Million . Mailchimp Bootstraps to $600M Revenue . Bootstrapping from Arizona to $10 Million . Bootstrapped Basecamp Executes a No Nonsense Strategy . How Under30Experiences Bootstrapped to $5 Million . Bootstrapping with a Paycheck . How Algo.ai CEO Amjad Hussain Bootstrapped using Services from Michigan . Seed Investors Who Like Bootstrapped Businesses . How iHeartRaves CEO Bootstrapped a Niche e-Commerce Company to $20 Million . Bootstrapping with Services . How The Intern Group CEO David Lloyd Bootstrapped to $13 Million . How Passageways CEO Paroon Chadha Bootstrapped from Indiana . How SmartBuyGlasses CEO David Menning Bootstrapped to $50 Million . Death by Overfunding . How RainmakerForce CEO Mack Sundaram Bootstrapped Decisively to $5 Million+ . How FormAssembly CEO Bootstrapped a Virtual Company with a Paycheck . TimeSlips CEO Mitch Russo Bootstrapped to Exit with Sage . The VC-Entrepreneur Compensation Disbalance . BioConnect CEO Bootstraps with Sophisticated Strategic Maneuvering . Tremend CEO Marius Hanganu Bootstraps from Romania . Gesture CEO Jim Alvarez Bootstraps to $10 Million . SproutLoud CEO Bootstraps to $30 Million from Florida . Tuft & Needle CEO Bootstraps to Over $100 Million . Co-founders Bootstrap Linguamatics to Over $10M from the UK . Ownership Matters . Vainu Co-founder Mikko Honkanen Bootstraps from Finland . Entrepreneur Couple Bootstraps to $10M from Colorado . 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