Technological Institute
Company: Technological Institute of Stock Investments
Date: Jul 2020 – Nov 2021
Location: Seville, Spain
Metodology: Lean
Role: Growth Project Manager
key Responsibilities
Lead the innovative growth strategy for the IBT Institute, overseeing the successful opening of new offices in the Basque Country.
Coordinate a multidisciplinary team, supervise each stage of the project, and ensure compliance with deadlines and quality standards.
Strategically plan feasibility studies, location selection, and resource management to drive sustainable growth.
Personnel selection based on key skills to strengthen the organization’s culture of innovation.
Execute the expansion of the IBT Institute by implementing growth strategies
ABOUT
The Project
IBT is a Technological Institute of Stock Investments and Trading, providing the strategies and tools necessary to navigate the world of financial markets with the goal of promoting financial literacy, emphasizing learning through practice, and continuous improvement.
Scope: carry out a geographical expansion and diversify the training offerings in the Spanish-speaking market, strengthening the position and increasing the customer base while establishing valuable partnerships in the process
SCOPE
Objectives
#1- Establish a presence in the Spanish-speaking market, including Peru, Colombia, and Mexico, by implementing an online marketing and training strategy with the aim of acquiring 1,000 new customers within the first three months from the launch.
#2- Open a new office in Bilbao, Spain, within a period of 6 months, with the goal of strengthening the presence in the national market and providing in-person training.
#3- Diversify training program offerings to attract a broader audience, introducing two new specialized courses in financial technology, blockchain, and cryptocurrency trading.
#4- Establish strategic partnerships with local universities to certify our finance training programs, to be completed within 6 months, resulting in at least two strong partnerships.
#5- Implement a strategic training program for the sales team with the goal of increasing the closing rate by 7% in the next three months.
Key Achivements
✅ B2C Crypto Assets Training Program Success: The development and leadership of the training program during the expansion resulted in notable success. Clients experienced returns exceeding 120%, generating a high level of satisfaction and confidence in the services.
✅ Effective Marketing Strategies Triumph: The formulation of highly effective marketing strategies led to the acquisition of 4,000 new clients during the first month of launch, making the product one of the best-selling for five consecutive months. This success consolidated the position in the market and significantly contributed to the company’s growth.
✅ Optimized Closing Rate: The implementation of the strategic training program for the sales team resulted in a 7% increase in the closing rate of sales, proving crucial to optimizing sales metrics and maximizing the impact of the expansion.
✅ Milestone Expansion Achievements: The opening of new offices in Bilbao and penetration into the Spanish-speaking market were significant achievements. The project strengthened its presence in Spain and established a solid foundation in key countries in Latin America.
✅ Revenue Growth: As a result of implementing proposals to clients, business presentations, and strategic alliances, there was a 10% monthly increase in revenue. This contributed to the financial viability of the expansion and the generation of value for the company.
✅ Pioneering Innovation in Investment Strategies: The contribution to financial innovation, including algorithmic trading, consolidated leadership in the financial field. Additionally, training programs on blockchain technology, NFTs, and cryptocurrencies were created, demonstrating the ability to adapt and leverage emerging trends. This strengthened the offering and positioned the project as a leader in the convergence between traditional finance and opportunities in the digital era
Resources Used
✔️ Allocated Budget: The project was executed within the confines of an allocated budget for the expansion. This budget encompassed various aspects, such as product development, marketing, personnel hiring, training, technology, and other operational expenses. Effective management of this budget was imperative to ensure that all activities were conducted within the predefined financial limits.
✔️ Marketing and Advertising: Involvement in formulating marketing strategies and utilization of financial resources for advertising campaigns, product and service promotion, lead generation, and increasing IBT’s visibility in the new target markets was a key aspect of the project.
✔️ Human Resources Management: The project included the recruitment of additional staff for the expansion, with a focus on ensuring appropriate allocation of funds to cover salaries and benefits for the new team. This also extended to providing necessary training and development opportunities.
✔️ Training and Development: Resources were allocated to the training and development of existing staff, ensuring their readiness for new responsibilities and challenges that emerged during the expansion.
✔️ Operational Expenses: Daily operational expenses were managed to ensure efficient allocation, sustaining the smooth operation of existing offices while implementing expansion activities.
✔️ Training Infrastructure: For the expansion, suitable infrastructure was required for training and in-person classes. This entailed searching for and renting training rooms, audiovisual equipment, teaching materials, and other resources essential for providing an effective learning environment.
Risk assesment
01- Delays in the Opening of New Offices
Identified Risk
One of the risks was the possibility of delays in the opening of the new offices in Bilbao, which could impact the expansion and the launch of training programs in that region.
Approach
A contingency plan was established, including a flexible schedule and additional time for the search and preparation of the offices. Constant communication was maintained with the teams involved in the office opening to identify potential obstacles and take proactive measures.
Impact
Despite facing unexpected challenges that caused a slight delay in the opening of the new offices in Bilbao, proactive planning and the implementation of contingency measures allowed for efficient overcoming of these obstacles. Although we experienced a minor delay, we successfully mitigated any negative impact on the expansion, ensuring a successful launch in that region and keeping our long-term objectives intact.
02- Customer Acquisition Below Expectations
Identified Risk
There was a possibility that the acquisition of new customers might not meet the initial expectations, which could impact projected revenues and the project’s profitability.
Approach
We strengthened marketing and sales strategies, closely monitoring key performance indicators and adjusting customer acquisition tactics as needed. In addition, we implemented customer follow-up and retention programs to maximize long-term value.
Impact
We successfully exceeded customer acquisition expectations in several target markets, resulting in a positive impact on project revenue and profitability.
03- Workload Overload for the Development Team
Identified Risk
Due to the creation of new products and improvements in the platform, there was a risk that the development team might face a workload overload, potentially leading to delays in deliveries and a decrease in quality.
Approach
Development tasks were carefully planned, clear priorities were established, and additional resources were provided when necessary. Continuous communication was maintained with the development team to assess their workload and ensure alignment with established timelines.
Impact
The effective management of these risks minimized the negative impact on the development and outcomes of the project. Delays and technical issues were promptly addressed, and marketing strategies helped attract customers to the store, generating sales and positive market acceptance.
Metodology
📅 Waterfall
Traditional project management approaches, such as the waterfall model, were utilized for the planning and execution phases. This facilitated the establishment of clear milestones, definition of tasks, assignment of responsibilities, and the creation of a logical sequence of actions. This methodology proved particularly valuable in areas where a structured process was required, such as the opening of new offices.
🔄 Agile
Traditional project management approaches, such as the waterfall model, were utilized for the planning and execution phases. This facilitated the establishment of clear milestones, definition of tasks, assignment of responsibilities, and the creation of a logical sequence of actions. This methodology proved particularly valuable in areas where a structured process was required, such as the opening of new offices.
🚀 Lean Startup
Lean Startup principles were applied, especially in the development phase of new courses and services. This involved prototyping, rapid testing with select customer groups, and iteration based on feedback. This methodology effectively allowed us to validate our ideas, saving resources and avoiding costly developments that might not meet market needs.
Key Takeaways
🤖 Act like a robot
Emotional management has been a pivotal learning experience in my journey, particularly during my tenure as a Project Manager, as I delved into professional trading, and while overseeing an investment fund. In the realm of finance, psychology plays a crucial role. The human mind, by its very nature, isn’t equipped to navigate the perpetual uncertainty of the market, turning the management of emotions such as euphoria, fear, and sadness into an ongoing challenge.
I learned that it’s paramount to navigate risk by establishing loss limits. Additionally, possessing the ability to close a trade with profits without being blinded by ambition is crucial, given the market’s penchant for unexpected twists. This knowledge wasn’t solely acquired in formal education but was also gleaned through hands-on experience in trading and avid reading of psychotrading literature.
Through this journey, I discovered that during moments of high volatility and intense emotions in trading, it’s essential to act like a robot adhering to a clear strategy. This entails having a laid-out plan with predefined rules: if a specific situation occurs, I execute a particular action; if another unfolds, I act in accordance with the predetermined plan. Upholding discipline and not succumbing to emotions has proven to be a valuable lesson.
Technological Institute of Stock Investments
Key responsibilities:
- Lead the innovative growth strategy for the IBT Institute, overseeing the successful opening of new offices in the Basque Country.
- Coordinate a multidisciplinary team, supervise each stage of the project, and ensure compliance with deadlines and quality standards.
- Strategically plan feasibility studies, location selection, and resource management to drive sustainable growth.
- Personnel selection based on key skills to strengthen the organization’s culture of innovation.
Successfully execute the expansion of the IBT Institute by implementing growth strategies.
the project
IBT is a Technological Institute of Stock Investments and Trading, providing the strategies and tools necessary to navigate the world of financial markets with the goal of promoting financial literacy, emphasizing learning through practice, and continuous improvement.
Scope: carry out a geographical expansion and diversify the training offerings in the Spanish-speaking market, strengthening the position and increasing the customer base while establishing valuable partnerships in the process
Objectives
#1- Establish a presence in the Spanish-speaking market, including Peru, Colombia, and Mexico, by implementing an online marketing and training strategy with the aim of acquiring 1,000 new customers within the first three months from the launch.
#2- Open a new office in Bilbao, Spain, within a period of 6 months, with the goal of strengthening the presence in the national market and providing in-person training.
#3- Diversify our training program offerings to attract a broader audience, introducing two new specialized courses in financial technology, blockchain, and cryptocurrency trading.
#4- Establish strategic partnerships with local universities to certify our finance training programs, to be completed within 6 months, resulting in at least two strong partnerships.
#5- Implement a strategic training program for the sales team with the goal of increasing the closing rate by 7% in the next three months.
Key Achivements
results
✔️ B2C Crypto Assets Training Program Success: The development and leadership of the training program during the expansion resulted in notable success. Clients experienced returns exceeding 120%, generating a high level of satisfaction and confidence in the services.
✔️ Effective Marketing Strategies Triumph: The formulation of highly effective marketing strategies led to the acquisition of 4,000 new clients during the first month of launch, making the product one of the best-selling for five consecutive months. This success consolidated the position in the market and significantly contributed to the company’s growth.
✔️ Optimized Closing Rate: The implementation of the strategic training program for the sales team resulted in a 7% increase in the closing rate of sales, proving crucial to optimizing sales metrics and maximizing the impact of the expansion.
✔️ Milestone Expansion Achievements: The opening of new offices in Bilbao and penetration into the Spanish-speaking market were significant achievements. The project strengthened its presence in Spain and established a solid foundation in key countries in Latin America.
✔️ Impressive Revenue Growth: As a result of implementing proposals to clients, business presentations, and strategic alliances, there was a 10% monthly increase in revenue. This contributed to the financial viability of the expansion and the generation of value for the company.
✔️ Pioneering Innovation in Investment Strategies: The contribution to financial innovation, including algorithmic trading, consolidated leadership in the financial field. Additionally, training programs on blockchain technology, NFTs, and cryptocurrencies were created, demonstrating the ability to adapt and leverage emerging trends. This strengthened the offering and positioned the project as a leader in the convergence between traditional finance and opportunities in the digital era.
Core team
The project involved the participation of a team of passionate entrepreneurs committed to delivering an exceptional Christmas experience.
Project Manager
- Define Strategic Vision: Establish a long-term vision for the company, aligning operations with future objectives, and preparing it for challenges in the financial and technological fields.
- Lead Innovation: Spearhead the exploration of technological opportunities and disruptive solutions, keeping the company at the forefront of finance and technology.
- Fund Management: Make strategic financial decisions, manage the company’s resources, and seek investments to enhance profitability.
- Academic Leadership: Oversee the quality of the Ph.D. program in Big Data for Finance, ensuring teaching excellence, and keeping it updated with trends in the field.
- Development of Strategic Relationships: Establish and maintain key relationships with partners, collaborators, and allies in the financial, academic, and technology industry to expand the company’s reach and opportunities.
Growth Project Manager
- Coordinate Departments: Align objectives and assign tasks, ensuring efficient execution aligned with project goals.
- Product Development: Ensure that training programs, courses, and services meet quality standards and market needs, actively participating in their development.
- Conduct Training: Establish direct contact with clients to understand their needs and gather crucial feedback for continuous program improvement.
- Financial Management: Oversee the allocated budget, conduct investment analysis, and manage resources to ensure profitability and alignment with financial goals.
- Problem Solving: Identify and overcome project challenges, make informed decisions, implement corrective measures, and seek efficient solutions.
- Communicate and Report: Maintain clear communication with all stakeholders, generate periodic reports to inform about project progress, achievements, and challenges.
Programmer
Sales Team
- Contacting Leads via WhatsApp: Initiating effective conversations with leads who entered through the Facebook Ads funnel, using personalized messages to generate interest and provide relevant information.
- Phone Calls: Making calls to leads to deepen communication, answer questions, clarify doubts, and provide details about the products or services offered.
- Follow-up: Maintaining proactive follow-up with leads, providing ongoing support, nurturing the relationship, and ensuring that interests and needs are addressed.
- Customer Service.
Communication Leaders
- Teaching Online and In-Person Classes: Providing effective classes in both online (webinars and recordings) and in-person formats, delivering clear and enriching content.
- Content Creation: Developing high-quality educational material, including presentations, exercises, reading materials, and instructional resources.
- Tutoring and Student Support: Offering individual or group tutoring to clarify doubts, provide guidance, and offer academic support.
- Assessment and Correction: Evaluating students’ progress, correcting exercises and exams fairly, and providing constructive feedback.
- Interaction and Response: Maintaining constant interaction with students, answering questions, encouraging participation, and ensuring a comprehensive educational experience.
Product Developers
- Research and Analysis: Investigate the market, analyze trends, and assess customer needs to identify opportunities for developing new products or enhancing existing ones.
- Design and Creation: Design and create innovative products, working closely with design and technical development teams to ensure product viability and effectiveness.
- Testing and Improvements: Conduct rigorous testing to ensure product quality and functionality. Iterate and make improvements based on user feedback and internal testing.
- Project Management: Lead product development projects, establish timelines, allocate resources, and ensure efficient execution.
- Interdepartmental Collaboration: Collaborate with marketing, sales, and other departments to align product strategy with company objectives and market needs.
Resources Used
Financial Resources
✔️ Allocated Budget: The project was executed within the confines of an allocated budget for the expansion. This budget encompassed various aspects, such as product development, marketing, personnel hiring, training, technology, and other operational expenses. Effective management of this budget was imperative to ensure that all activities were conducted within the predefined financial limits.
✔️ Marketing and Advertising: Involvement in formulating marketing strategies and utilization of financial resources for advertising campaigns, product and service promotion, lead generation, and increasing IBT’s visibility in the new target markets was a key aspect of the project.
✔️ Human Resources Management: The project included the recruitment of additional staff for the expansion, with a focus on ensuring appropriate allocation of funds to cover salaries and benefits for the new team. This also extended to providing necessary training and development opportunities.
✔️ Training and Development: Resources were allocated to the training and development of existing staff, ensuring their readiness for new responsibilities and challenges that emerged during the expansion.
✔️ Operational Expenses: Daily operational expenses were managed to ensure efficient allocation, sustaining the smooth operation of existing offices while implementing expansion activities.
✔️ Training Infrastructure: For the expansion, suitable infrastructure was required for training and in-person classes. This entailed searching for and renting training rooms, audiovisual equipment, teaching materials, and other resources essential for providing an effective learning environment.
Risk assesment
Several potential risks were identified that could have impacted the development and outcomes of the project. Below, we will analyze some of the identified risks, how they were addressed, and the impact they had:
1. Delays in the Opening of New Offices
Identified Risk
One of the risks was the possibility of delays in the opening of the new offices in Bilbao, which could impact the expansion and the launch of training programs in that region.
Approach
A contingency plan was established, including a flexible schedule and additional time for the search and preparation of the offices. Constant communication was maintained with the teams involved in the office opening to identify potential obstacles and take proactive measures.
Impact
Despite facing unexpected challenges that caused a slight delay in the opening of the new offices in Bilbao, proactive planning and the implementation of contingency measures allowed for efficient overcoming of these obstacles. Although we experienced a minor delay, we successfully mitigated any negative impact on the expansion, ensuring a successful launch in that region and keeping our long-term objectives intact.
2. Customer Acquisition Below Expectations
Identified Risk
There was a possibility that the acquisition of new customers might not meet the initial expectations, which could impact projected revenues and the project’s profitability.
Approach
We strengthened marketing and sales strategies, closely monitoring key performance indicators and adjusting customer acquisition tactics as needed. In addition, we implemented customer follow-up and retention programs to maximize long-term value.
Impact
We successfully exceeded customer acquisition expectations in several target markets, resulting in a positive impact on project revenue and profitability.
3. Workload Overload for the Development Team
Identified Risk
Due to the creation of new products and improvements in the platform, there was a risk that the development team might face a workload overload, potentially leading to delays in deliveries and a decrease in quality.
Approach
Development tasks were carefully planned, clear priorities were established, and additional resources were provided when necessary. Continuous communication was maintained with the development team to assess their workload and ensure alignment with established timelines.
Impact
The effective management of these risks minimized the negative impact on the development and outcomes of the project. Delays and technical issues were promptly addressed, and marketing strategies helped attract customers to the store, generating sales and positive market acceptance.
mETODOLOGY
📅 Waterfall
Traditional project management approaches, such as the waterfall model, were utilized for the planning and execution phases. This facilitated the establishment of clear milestones, definition of tasks, assignment of responsibilities, and the creation of a logical sequence of actions. This methodology proved particularly valuable in areas where a structured process was required, such as the opening of new offices.
🔄 Agile
Given the development of new products and platform enhancements, agile principles were implemented, allowing us to swiftly produce high-quality products, adapt to changing needs, and maintain a continuous delivery of value throughout the IBT expansion.
🚀 Lean Startup
Lean Startup principles were applied, especially in the development phase of new courses and services. This involved prototyping, rapid testing with select customer groups, and iteration based on feedback. This methodology effectively allowed us to validate our ideas, saving resources and avoiding costly developments that might not meet market needs.
Key Takeaways
🤖 Act like a robot
Emotional management has been a pivotal learning experience in my journey, particularly during my tenure as a Project Manager, as I delved into professional trading, and while overseeing an investment fund. In the realm of finance, psychology plays a crucial role. The human mind, by its very nature, isn’t equipped to navigate the perpetual uncertainty of the market, turning the management of emotions such as euphoria, fear, and sadness into an ongoing challenge.
I learned that it’s paramount to navigate risk by establishing loss limits. Additionally, possessing the ability to close a trade with profits without being blinded by ambition is crucial, given the market’s penchant for unexpected twists. This knowledge wasn’t solely acquired in formal education but was also gleaned through hands-on experience in trading and avid reading of psychotrading literature.
Through this journey, I discovered that during moments of high volatility and intense emotions in trading, it’s essential to act like a robot adhering to a clear strategy. This entails having a laid-out plan with predefined rules: if a specific situation occurs, I execute a particular action; if another unfolds, I act in accordance with the predetermined plan. Upholding discipline and not succumbing to emotions has proven to be a valuable lesson.