IMMIGRANT TO ENTREPRENEUR
Tiago Prado is the Co-Founder of BRZ Insurance, a company that provides insurance services for Brazilian immigrants in the United States. He was born in the state of Goiás, Brazil, and moved from Brazil to the United States at the age of 14. He faced various difficulties during his youth and completed only his elementary education in Brazil due to the need to work from a young age.
His transition from Brazil to the United States without completing his education led him to work in various jobs, many of which were considered low-paying and essential, often referred to as “subemployment.” However, with persistence and a determination to improve daily, Tiago exceeded expectations. Over the years, he embarked on a journey to achieve his dream and financial independence, overcoming many obstacles in his life and going from rags to riches.
At a crucial point in his life, Tiago found a mentor in Chuck Joyce, who provided personal guidance and invested in and believed in his protege’s potential. After earning his high school equivalency diploma, Tiago enrolled in Bunker Hill Community College and later transferred to Tufts University, where he graduated with a degree in Economics.
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INTERVIEW WITH TIAGO PRADO
I was born in an entrepreneurial environment; everyone in my family had a business. My grandmother was an entrepreneur, my father, before he passed away, was a farmer, my mother owned a restaurant, and my stepfather owned an awning company. I started working at a very young age, helping my family in the snack bar they had. My family is all entrepreneurs, and we faced many difficulties because we didn’t have as many resources as other families. Since I was a child, I had this entrepreneurial spirit; I used to pick acerola berries from a tree in our backyard to sell to people.
What is the value of my knowledge and education if I don’t help people who don’t have the same knowledge I’ve acquired? I want to leave a legacy; I have to make a difference because my mentor, Chuck, once told me that I would meet people who started like I did. My way of continuing this legacy came from the idea of keeping the chain going, of making a difference in people’s lives, helping them grow in a country different from their country of origin.
Chuck Joyce was my mentor, and he was the one who encouraged me to study and work in the financial industry. He was like a father figure I never had in my life. He motivated me, helped me, and provided financial support. One day, I asked, “How can I ever repay you for everything you’ve done for me?” And he replied, “Tiago, one day you will encounter other ‘Tiagos’ down the road, and you will help them, and that’s how you repay me.” But now, I’m going to repay with very high interest because I’m going to help thousands of people.
Without a doubt, I would have made many different decisions, and that’s why I want to share my knowledge with beginner entrepreneurs. I always say, “It’s cheaper to learn from others’ mistakes than our own.” So, if I had the wisdom I have today, I might be in a better place, but if I hadn’t made those mistakes, I wouldn’t have the knowledge I have today.
This project stems from the need to define what wealth means for immigrants, not just financially, but everything they can do to improve their quality of life and that of the people they care about and love. Wealth is having a good home for your family and your mother, a good car, and providing a better education for your children. Wealth is going to sleep and waking up the next day saying, “Wow, I’m leaving a legacy.” It’s not simply accumulating money in the bank.
We can also talk about people who have accumulated money in the bank and haven’t left any legacy because one thing is independent of the other. But do you need so much money without knowing the limit to be wealthy? No! I know many people who are wealthy, not financially, but personally.
BRZ was undoubtedly transformative in my life because of the knowledge I gained in the process of starting, expanding, and scaling the company. It was highly relevant to the Tiago 2.0 that exists today, and without a doubt, the experience of marketing such a complex product to Latinos in the United States will bring invaluable lessons to Imigrante Rico.
The first step is to let go of the inferiority syndrome. Often, we apologize too much and forget about our skills, strengths, intellectual capacity, and what we can truly accomplish and offer in the market. It’s important to be aware of our mistakes and shortcomings, but we tend to focus on our weaknesses instead of valuing our best qualities. All the experience gained in other countries can be adapted to the United States. So, if you’re a Latino in the land of Uncle Sam and thinking about entrepreneurship, I’ll bring tools and resources to help you adapt to your daily life and business.
Rule #1 for me is that you have to know what you don’t know because half information is worse than none. We hurt ourselves with what we don’t know. Many believe that half information is enough to make decisions, and from my own experience, it doesn’t work. If you lack knowledge, where can you find it? Hire a consultant, a mentor, find a partner, read a lot, take courses, always seek ways to gain the missing knowledge.
In summary, Rule #1 is: Be intellectually honest and know what you don’t know.