Ignite Startups: Ignacio Viau on Finding Product-Market Fit and Scaling Hokali
Episode 68 of the Ignite Podcast
In this episode of the Ignite Podcast, host Brian Bell has an insightful conversation with Ignacio Viau, the co-founder and CEO of Hokali. Ignacio shared his fascinating journey from Argentina to becoming a startup founder in San Francisco. For those who may not have time to listen to the full episode, here’s a detailed recap of Ignacio’s inspiring story and the evolution of Hokali.
Embracing the Spirit of San Francisco
Ignacio Viau's journey began in Argentina, where he was born and raised. A lawyer by training, Ignacio decided to move to the United States nine years ago, settling in San Francisco. He was immediately captivated by the city's vibrant culture and its spirit of innovation and entrepreneurship. This passion for the entrepreneurial ecosystem of San Francisco set the stage for his future ventures.
The Birth of Hokali
Hokali started as a solution to a personal problem Ignacio faced. As an avid surfer, he struggled to find a surf instructor in San Francisco. This challenge, combined with his background as a surfing and kite surfing instructor, led him to co-found Hokali. The company began as a B2C sports lesson marketplace, aiming to connect sports enthusiasts with instructors, starting with surfing lessons. Ignacio and his co-founder Thomas quickly realized that finding a surf instructor through traditional methods like Google or Yelp was cumbersome, thus creating an opportunity for Hokali.
Pivoting to a B2B Model
After two years of operating as a B2C marketplace, Ignacio and his team discovered a critical insight: the highest retention and satisfaction came from children’s lessons. This led Hokali to pivot to a B2B model, focusing on after-school programs and schools in need of sports, music, and art instructors. This strategic shift proved to be a game-changer, allowing Hokali to tap into a more consistent and scalable market.
Ignacio emphasized the importance of listening to customer feedback and being willing to pivot. This adaptability led to the creation of the Hokali Academy, a program designed to vet and train instructors, ensuring they meet all legal and educational requirements. This move not only enhanced the quality of the instructors but also added significant value for the schools.
Overcoming Challenges and Finding Product-Market Fit
Ignacio’s journey was not without challenges. He spoke candidly about the difficulties of acquiring customers in a B2C marketplace and the high costs associated with it. However, the pivot to a B2B model brought a significant breakthrough. By focusing on schools, Hokali was able to reduce customer acquisition costs and achieve a high sales conversion rate. Ignacio shared that Hokali now boasts a 40% conversion rate from meetings to signed contracts, a testament to their strong product-market fit (and the power of well executed pivots).
The Vision for the Future
Looking ahead, Ignacio envisions expanding Hokali’s reach to more cities across the United States. Currently operating in San Francisco and Los Angeles, Hokali aims to be in 5,000 schools within the next five years. Ignacio is also excited about the potential to revive their B2C marketplace once they have solidified their B2B foundation. This future expansion will allow them to offer private lessons to parents and further grow their platform.
Personal Reflections and Insights
Ignacio’s journey from a lawyer in Argentina to a tech entrepreneur in San Francisco is a story of resilience, adaptability, and innovation. He highlighted the importance of being humble as a founder and truly listening to what customers want. His experience underscores the value of perseverance and the willingness to pivot when necessary to find success.
For those interested in entrepreneurship, Ignacio’s story is a powerful reminder that the path to success is often nonlinear. It requires a willingness to learn, adapt, and continuously seek out new opportunities.
Ignacio Viau’s journey with Hokali is a compelling example of how identifying a simple problem and being open to change can lead to creating a successful business. Hokali’s evolution from a B2C marketplace to a thriving B2B platform showcases the power of listening to customers and pivoting strategically to achieve lasting success.
Stay tuned for more inspiring stories on the Ignite podcast! 🚀
Chapters
1. Introduction to Ignacio Viau and Hokali (00:00 - 02:59)
2. Falling in Love with San Francisco (03:00 - 04:19)
3. The Origins of Hokali (04:20 - 07:01)
4. Pivoting to Focus on Children (07:02 - 10:18)
5. Building the Hokali Academy (10:19 - 13:44)
6. Challenges in Consumer Marketplaces (13:45 - 17:21)
7. Expanding Beyond San Francisco (17:22 - 20:03)
8. Product-Market Fit and Business Strategy (20:04 - 24:39)
9. Entrepreneurial Lessons and Personal Growth (24:40 - 28:19)
10. Vision for the Future (28:20 - 32:58)
11. Closing Thoughts and Reflections (32:59 - 36:49)
12. Rapid Fire and Q&A (36:50 - 51:58)
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