5 Insights From the Founders of Travel Startup Baboo
Last Updated: By TRUiC Team
Any entrepreneur can tell you that launching a startup is a learning process. Therefore, one of the best things you can do prior to launching a startup of your own is to learn from those who have blazed the trail. We were fortunate enough to hear some valuable insights during our interview with Paul Sarfaty and Rick Carassai of Baboo that will inspire, motivate, and teach aspiring and established entrepreneurs alike.
What advice do you have for aspiring entrepreneurs?
“Most importantly, take on a project that you really believe in [that] is not simply about making money, but is about helping others and making the world a better place.”
What is your advice for entrepreneurs in your industry specifically?
“Research your startup's vision and mission in order to help clarify why your company exists and where you are going. You should be able to describe your organization's mission clearly, and you must be able to answer these questions: ‘Why you do it,’ ‘what you actually do,’ ‘who you do it for,’ and “how you plan to carry out your mission.’”
What is your advice for coming up with a unique startup idea?
“Identify and fix a problem. With this step, take the time to learn all about the industry that you want to get involved with, doing extensive research to learn as much as possible about the niche, and getting the facts straight will aid your startup in the long run. Many strong ideas are needed in order to filter out the business concepts that will be successful and those that should be left alone.”
What is your advice for overcoming challenges and failure?
“Don't ever lose sight of your ultimate goal. Keep chasing your dreams. Allow your fantasies to empower you. Allow them to inspire you with passion and enthusiasm. The moment you cease dreaming, you will be back to where you started. To overcome all the challenges you will experience, you must have a powerful driving goal or motivation, and this motivation is supplied by your dreams.”
What is the biggest lesson you learned and what can aspiring entrepreneurs take from it?
“It's okay to start something new if it isn't perfect. It was difficult for me to wrap my head around and accept the idea of building an MVP (minimum viable product). Perfectionism runs in my blood, and it was important to me to achieve perfection in everything we did.
The problem is that to create perfection from the start, startups require significant investment capital, which is seldom available. Having a work area where you can learn and understand various challenges and opportunities while building the final product is extremely important.
For maximum input and feedback from the target audience, focus on the core features, functionalities, and competencies that allow your business to gather as much validated feedback and learning as possible, with as little effort and budget as possible.”
Next Steps:
- Check out Baboo’s origin story and how you can support them!
- Keep up with more startup companies by following Startup Savant on Google News!
- Start your own startup by reading our guide on how to start a startup.
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