Founder of Travel Startup Govy Shares Their Top Insights

“Find your community. I often hear and see people post about the startup life being a lonely endeavor — which I understand, but it doesn't have to be if you surround yourself with like-minded people. There are tons of options out there where you can find your support system. It's just about putting yourself out there.”

“Avoid the late night work time. Granted, it's a necessary evil sometimes, but try to avoid it if you can. It sounds pretty tactical, but it really does help. I can tell you from firsthand experience. When you allow yourself time to rest and recharge, you get a higher quality work product every time.”

“Validate, validate, and validate some more before spending any money. Talk to friends, then talk to their friends. Join Subreddits, Slack channels, meetups, and talk about the problem you're trying to solve. One lesson I learned the hard way was building first and asking questions later. I spent time and resources on something that people didn't really want or need. There's the old startup saying, ‘fall in love with the problem, not the solution.’”

“Redefine failure. A failure is actually the best thing to happen to a founder. It's an opportunity to dissect what went wrong, ask why, and test how to change it for a positive outcome. Then, rinse and repeat.”

“Make use of free resources. In my first business, I spent time and money on things that didn't actually matter because there wasn't even a validated problem to tackle! Almost everything someone needs to get an idea started is available for free in some form or another. Entity structures, advisor agreements, marketing templates, and even no-code platforms are all out there.”

“Start the process now. It's all about forming a relationship like any other. You wouldn't approach a random stranger on the street and ask for money to invest in your idea. Building trust and credibility take time. Include that time in your fundraising strategy.”