Kim Gamez, Tech Government and Entrepreneur

Erica Klass in Jackson Journal

In an trade – occasion planning companies – that has been shaken to the core by Covid-19, Kim Gamez is discovering satisfaction in an exit. After Mi Padrino shrank throughout the pandemic, the startup did not have the exponential demise that it and its traders have been hoping for; but it had one which was ok. The phrases of the deal weren’t disclosed.

The corporate’s value lay in its massive Latin American consumer base, social media following, and trusted popularity.

When Gamez and her husband have been requested to be padrinos for his or her niece’s quinceañera in 2015, they have been thrilled. In Latin America, padrinos sponsor numerous facets of a celebration, together with clothes, venue, music, and cake.

Quinceañeras have a good time a woman’s fifteenth birthday and the transition from childhood to maturity. “It is not accomplished due to a household’s financial scenario, however as a result of the group honors the particular person being celebrated,” Gamez stated.

A Padrino can even tackle the position of organizing the presents, which was the case with Gamez. “It is a good looking a part of [her husband’s Mexican] tradition however I hated the method. At that time there was nothing that organized the method.

Gamez noticed a spot out there that they may fill by organizing the reward supply course of on-line. PayPal, Venmo, and Fb might all be used to provide financial items, so she centered on one thing else.

There was an untapped alternative to attach reward givers with reward makers. She used a dropship mannequin that allowed wholesalers and artists to sell their wares with out going by means of retailers. Sellers have been chargeable for fulfilling orders. I first wrote about Mi Padrino and its enterprise mannequin in 2019.

Later, Mi Padrino enabled distributors equivalent to DJs, musicians, photographers, and venues, amongst others, to promote their companies.

Mi Padrino grew from 50,000 customers within the first yr to hundreds of thousands of customers earlier than the pandemic. It additionally had a major following on social media.

When the pandemic hit, occasions stopped. The corporate circled.

One of many producers of Mi Padrino began making masks. Mi Padrino made it simple for colleges and healthcare techniques to purchase at no cost. It later constructed a website to sell masks to earn money. The masks helped them get by means of the summer time of 2020, then everybody bought into the masque.

By the winter of 2021, Gamez laid off 17 of their 20 workers. Nonetheless, she knew she had one thing of value for any firm seeking to enter the Latina market. “Mi Padrino was seen as a trusted model,” she stated. “We had hundreds of thousands of customers and an enormous following on social media.”

Gamez was featured at Queenly, a proper put on market for ladies of all ages and sizes. Andreessen Horowitz is among the traders. “It [Mi Padrino] matches them completely,” stated Gamez. “And it was nice timing for us.”

“It wasn’t the exit everybody wished, nevertheless it was an exit,” Gamez stated. Mi Padrino’s traders included Astia Angels, Chloe Capital, Put money into Detroit, Put money into Michigan, Portfolia and Texas HALO.

Through the financial downturn attributable to the pandemic, Gamez constructed her popularity as a thought chief and turned that right into a job as head of digital advertising and marketing at David’s Bridal. She began out as a advisor and wowed them along with her concepts on tips on how to construct natural visitors.

Gamez additionally leverages her startup expertise as an Entrepreneur in Residence on the College of Michigan and Michigan State. Her recommendation to startup founders elevating cash throughout the present enterprise capital disaster:

• Focus: “Do not cook dinner the ocean,” she stated. Mi Padrino didn’t use off-the-shelf software program. As a substitute, it constructed totally different techniques for the three divisions and needed to preserve all of them. That was rather a lot for a small staff.
• Develop slower: Discover out what clients need as an alternative of counting on assumptions. Even when created with Excel spreadsheets, take a look at ideas.
• The proof is within the pudding: Earlier than elevating enterprise capital, present that the corporate can generate income.

What classes have you ever realized from navigating the pandemic?