miResi

Goals & Process

It has two different products. The main one, their core business, is that the residences pay them for every revenue they make. It's a very positive thing for the families, because the families will never incur an extra cost for coming to them and not only that, but they get discounts in many of the homes that they are able to admit. What the residences pay them is a one-off fee at the time of admission, which they deduct from their first monthly payment.  

On the other hand, they have created their own CRM and adapted this CRM and offered a subscription/monthly fee model for using their CRM to care homes, hospitals and even public administrations. 

Why did you choose this funding type?

At first it was only going to be private investigators, but the platform identifies you as a social project on a brand level, in a sector as sensitive as the one we work in, it is very important to position yourself as an ethical, social, inclusive project, so it was essentially because of the social visibility it gave.

Successes & Challenges

The important thing is not to give up and to have good planning. Their customer acquisition was 150 clients, and they started to generate content, to create actions for SEO and all of this is a very slow process at the beginning, but then little by little the results end up being very good. The main barrier is that the residential sector is very closed at the beginning. Getting the first residence was very difficult until it became more popular. For entrepreneurs, these beginnings can always be frustrating, because you need to validate your product and get a mass of users.

Takeaways & Additional Information

A good idea and a good execution are fundamentals. It is very important to be a determined person and not to be afraid to make mistakes, to try, because you have to press different keys until you find the right one and then start working. 

It is also very important to know how to communicate, to know how to sell your idea to your first customers, being confident in order to transmit the value of the product.  

The common denominator of any company, whether social or non-social, is the interest in generating profits, otherwise the company cannot maintain itself, it will not be able to grow and therefore, it will not be able to increase its activity. Precisely if you are a social enterprise, there is even more reason to want to sell, to want to grow, because the more you grow, the more people you can help.