Top 8 Insights From Startup Luxury Travel Hackers
Last Updated: By TRUiC Team
Any startup founder can tell you, there is a lot to learn when launching a startup. Fortunately for entrepreneurs and startup-lovers alike, one of the founders of Luxury Travel Hackers, Gary Kohn shared some impactful insights during our interview.
1. ‘Don’t Quit Before the Miracle’
“I heard a quote many years ago and it's always stuck with me and kept me going a little further when I wanted to quit. It's ‘Don't quit before the miracle.’ That always keeps me going a little further.”
2. Launching a Startup is Both a Sprint and a Marathon
“The schedule that it takes to really build a company is a sprinting schedule, but it has to be approached like a marathon.”
3. Don’t Start a Business Unless You Have the Drive
“Don't do it. Don't do it unless you absolutely have to. What'll happen is if you're not inspired to do what you do every single day, you're going to be pushing a rock up a hill. And the difference between pushing and being pulled to something is everything. And so I would say that every day you wake up, you ask yourself what your why is, and if it's compelling enough, it'll keep you going.”
4. Launch Your Startup for the Right Reasons
“Making sure you're doing it for the right reasons. I made a very big career change. I left a decent sized paycheck for a ‘no paycheck’ and for putting my own money into a company and a complete career shift.”
5. Identify the Primary Problem and Solve It
“Well, what we determined is that, you know, 80% of travelers choose their next vacation on social media, but no one's really leveraging that content and influence for booking. And so you're presented with this trip that ... you're watching other people do that you can't do. So, we also determined that ... people spend an average of seven and a half hours of additional research on multiple websites to build a vacation that was just presented to them. And so, we saw an opportunity to solve that primary problem. There's a lot of problems that we want to solve within the industry, but we wanted to tackle one at a time.”
6. Read ‘Venture Deals’
“The best book I ever read on business is ‘Venture Deals,’ and I think it's a must for any founder.”
7. Don’t Micromanage
“[...] always hire people smarter than you, and don't micromanage. Over[sight] is important, but let people do what they are good at. Let them do what you brought them here to do.”
8. Align Company Culture with Company Goals
“I think if people ... wake up and are inspired to go to work, then it serves them and serves the company. And I think aligning the company culture with the company goals is really important for success.”
Next Steps:
- Check out Luxury Travel Hacker’s origin story and ways to 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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