April 30, 2023-Rockaway, NJ-Get the inside scoop of what it’s like to be a founder and Chief Operating Officer (COO) of a digital payment provider with this exclusive interview with Don Farias, Founder and COO of Lucrotec! Hear his inspiring story and learn some of his secrets to success.
What inspired you to found Lucrotec in the digital payments space?
“I was always interested in growing companies, and when I saw an opportunity to innovate in the digital payments space, I decided to take on the challenge of founding Lucrotec. I was inspired by the prospect of providing top-notch customer service and staying ahead of the curve in technology, and wanted to create a company that could make a real difference in the industry. One of my biggest motivations was to help enterprises drive savings and manage their payments more effectively. It’s been an amazing journey ever since!”
What are the challenges faced by founders?
“As a founder in the digital payments space, you’re responsible for creating a vision for the company and executing on it. This means you must be comfortable taking risks, making tough decisions, and working through challenges. In addition, you must have a deep understanding of the digital payments industry, including the latest trends, technologies, and regulations.
One of the biggest challenges faced by founders in the digital payments space is keeping up with the rapidly evolving industry. Technology is constantly changing, new regulations are being introduced, and competition is fierce. To succeed, you must be able to stay ahead of the curve, adapt quickly to changes, and continue to innovate.
Another challenge is building a team that can help you execute on your vision. You need talented individuals with a range of skills, including technical expertise, financial acumen, and strong leadership abilities. Additionally, you must be able to motivate and inspire your team to achieve their goals, even in the face of adversity.”
How do you overcome challenges?
“To overcome challenges, it’s essential to stay up to date on industry trends, technologies, and regulations. Attend conferences, read industry publications, and network with other industry leaders to stay informed and make connections that can help you stay ahead of the curve.
It’s also important to build a strong team with a diverse range of skills and expertise. Hire individuals who share your vision and are passionate about the digital payments industry. Empower your team to take ownership of their projects and provide them with the resources they need to succeed.
As a founder and COO, it’s also important to be adaptable and flexible. Be open to new ideas, be willing to pivot your strategy when necessary, and embrace change as an opportunity for growth.
Finally, it’s important to stay focused on your vision and maintain a positive attitude. You must be able to stay ahead of the curve, build a strong team, adapt quickly to change, and maintain a positive attitude. With the right mindset and approach, you can overcome challenges and achieve success in this dynamic industry and help enterprise drive savings along the way.
What advice would you give someone who is interested in working their way up the ladder at Lucrotec?
My advice for someone interested in growing their career at Lucrotec is to stay engaged, inspired, and be willing to learn. Be sure to take advantage of the opportunities available to you such as training programs, seminars or webinars, certification courses, or other professional development activities.
Volunteering in different departments allows you to gain a better insight on how the entire company operates and gives you a greater capacity for problem solving later on. Take on responsibility and own the projects that are assigned to you by learning new skills or technologies to move them forward. All of these steps will help increase your value within the organization and improve your chances of advancing your career.
About Lucrotec
Lucrotec is a thriving FinTech company that provides a managed payment service to its clients. Lucrotec delivers operational efficiencies for accounts payable and accounts receivable, better payment security, and vendor expense transparency. It does so without IT integration, OpEx/CapEx expenditures, or disrupting established accounts payment processes.
Additional information about Lucrotec can be found at www.lucrotec.com, requested via e-mail at info@lucrotec.com, or by calling 1.855.677.6348.