On the fourth attempt to open a business, you find the way and you will earn R$8 million

On the fourth attempt to open a business, you find the way and you will earn R$8 million

The first bet on entrepreneurship is not always the bet that will work. The track of Juliana Duarte, 38, from São Paulo, represents this well. Before founding SetYou, a platform for personalizing vitamins, minerals, herbal medicines, and supplements that recently received an investment of R$3.5 million, she had other experiences. In addition, he had to learn how to deal with the famous imposter syndrome.

She graduated in management with an MBA from the University of Chicago’s Booth School of Business, worked on mergers and acquisitions at large banks, such as Credit Suisse and HSBC, and later had the opportunity to receive support from Rocket Internet, the German fund that invests in people to make them pioneers Business and implementation of business ideas operating in other countries. Thus, he founded Tricae, a children’s article website that has reached R$200 million in revenue.

“I was 28, I was the co-CEO of a company that was making millions and I still find myself thinking: ‘Do I deserve to be here?’ , ‘Do I know what I’m doing?’ He remembers. At the time, she didn’t know that she was dealing with imposter syndrome, a condition common to many women that makes them question their competence and causes a lot of doubt and a feeling of inadequacy.

The merger ended, Juliana helped the merger completely but decided to leave the company, as she began to take on a larger corporate and non-entrepreneurial role, which she wanted. It was then that he decided to take advantage of this experience and launch a brand of children’s shoes. “The first factory crashed and in the second we had another problem. We only made it on the third try. However, after I got pregnant and had my daughter, I saw that wasn’t what I wanted to do yet,” Juliana.

Customer research and focus

In a change of course, the entrepreneur decided to create a healthcare group, along with Murillo Viana. “We delighted the health field for its ability to pass on more information to people about prevention and, in effect, patient empowerment. We searched the market in Brazil and the world and started personalizing vitamins and supplements,” he says.

The company began its path in September 2020, during the Covid pandemic, a period when the search for supplements to improve immunity was high. The nutritional supplement sector has been one of the fastest growing during the pandemic: data from Euromonitor indicates that the global market for vitamins and nutritional supplements represents nearly $110 billion.

More than 80,000 users and nearly 4,000 customers have passed through SetYou. Through the investment, the goal is to double the number of employees in the next six months, as well as increase revenue by up to seven times, compared to 2021. By the end of 2022, it is expected to earn R$8 million, in addition to attracting more than 10,000 new consumers. .

Artificial intelligence helps

To meet this demand, the startup is relying on the help of artificial intelligence. In an automated query, the user answers quick and objective questions via the chatbot. The test includes questions about eating and exercise habits, health complications, and medications.

The platform captures this data and recommends customized supplements according to what the body needs at that moment. There are over 60 ingredients, 200 standards and thousands of formulas created by a multidisciplinary health team.

Juliana and her partner Murillo Viana

Image: disclosure

The company has, for example, professionals such as pharmacists, nutritionists, and endocrinologists, as well as a group of seven doctors – all of whom are angel investors in the business. Recently, the company also closed a partnership with Pague-Menos. The idea is for SetYou to be a prescription tool in the network’s pharmaceutical offices.

According to Juliana, building a successful business begins with a few pillars. The first is to put your feet on the ground and take one step at a time, without bypassing processes in a thirst for growth. In this way, it becomes easier to plan the course of the company in the short, medium and long term.

“The first thing we did was develop a service prototype using only the resources needed to validate the idea, and with customer feedback, make modifications and improve it. Only then did we invest an angel in order to, and then yes, build in a more structured way,” he explains.

In SetYou’s first month, 2,000 people tested the platform, including doctors and interested clients. According to her, in order to talk to investors, in addition to numbers, it is necessary to create a good story about the company and be very clear about where you want to go.

But the entrepreneur assures that it was not an easy path.

“We struggled a lot and had to learn to hear the word ‘no’ without getting frustrated,” he says. In this sense, flexibility is key. “You’ll hear a lot of ‘no’ along the way and it’s tough. The secret is not to take the negative personally, or think it means the company isn’t good. It wasn’t meant to be an investor,” he says.

She even stresses the importance of seeking out funds and angel investors who are related to the business and can help structure the company. “For example, we didn’t have a health background and we knew it was important,” he says. “That’s why we looked for doctors who were investors.”

About impostor syndrome, Juliana says it still appears. But today she knows how to deal with it. “I’ve dodged that sound with a lot of work and results. And when it shows up, I send it away and tell myself I can do it,” she continues.

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