Monday, December 7, 2009

Federico Folcia >

Federico Folcia, Founder, Roomorama

What do you need to be an entrepreneur?
You need an interest in finding problems and a talent in solving them.

What did inspire you to start your business?
I believed this could be my opportunity to do something truly unique and memorable. Also, it seemed to be the right time to get started as I had an idea to pursue, the financial resources and the desire to make a radical career change.

How did you finance it?
Both with some personal savings and the support of my family

Being Hispanic…Does it have any influence on your business?
I am very passionate about life the same way I am with work, so definitely it has a positive influence on my business.

In the face of adversity, how do you decide to keep going?
A famous Latin saying is “Per aspera ad astra” which means “to the stars through difficulties”. If you want your business to succeed, take adversities as part of the equation.

What is the biggest challenge your business has faced?
The biggest challenge has been putting together the right team of people I could trust.

If you could change one thing about your business, what would it be?
Of course, I wish I had more experience when I started this business so that I would have made fewer mistakes and wiser decisions on many occasions. However, nothing really prepares you for starting your own business – you just have to dive into it, and learn as you go.

What was your childhood ambition?
I wanted to do something creative and innovative that would give me the possibility to travel around the world. Roomorama allows me to do so.

Tell us about three entrepreneurs that you admire?
First I admire my parents, the other 2 are Michael Bloomberg and Sergio Marchionne from Fiat.

For business meetings: breakfast, lunch, or dinner?
Lunch is the best occasion for a business meeting.

What sacrifices on your personal life did you have to make in order to become a business success?
To begin with I quit a comfortable job at that time, and hence a clear (and fairly lucrative) career path. Also my lifestyle has dramatically changed; I am responsible for every aspect of the business and I do any work I can’t afford to hire someone else to do, this means I am committed 24/7 to my business. While it’s true that you can manage your own time when you have a business it’s also very difficult to just simply take a weekend off because nobody else will have the passion and dedication you have.

What is your favorite quote?
“Do something worthremembering” – E. Presley

Is it difficult to be unconventional?
It is more difficult to be conventional because your options are limited.

Biggest mistake made?
I trusted somebody assuming we were on the same page without taking any precaution and it turned out to be a complete failure. Lesson learnt.

Do you consider yourself an innovator? Why?
I do. I want to make people appreciate a different way of traveling and open people up to the idea of renting out their extra space by giving them a platform that makes it simple and secure. Selling people this new concept is challenging, and requires being creative and persistent.

About the Company: is a website that connects travelers with hosts who provideshort-term rentals in major cities worldwide. The apartments on Roomorama range from professionally-managed suites to individually-owned homes. On, travelers can communicate and transact with hosts easily and securely, allowing them to find their home-away-from-home and truly live like locals.

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