Founder of Packaging Startup Packlane Shares Their Top Insights
Last Updated: By TRUiC Team
Any entrepreneur can tell you, 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 Miriam Brafman of Packlane that will inspire, motivate, and teach aspiring and established entrepreneurs alike.
What advice do you have for aspiring entrepreneurs?
“Be as capital efficient as possible before taking on outside funding. It helps if you choose a high margin product or market segment.”
What is the best method you've found to avoid burnout as an entrepreneur?
“Maintaining strong outside friendships, family, and relationships. Spending time outside in nature and getting enough sleep.”
What is your advice for coming up with a unique startup idea?
“Have lots of diverse experiences so that you're exposed to plenty of stimulus and information. Be relentlessly curious. Try and train your mind to spot gaps or shortcomings in the market. Have great taste so that you have the vision and foresight to know when something has massive potential but isn't living up to it. Read about founding stories of great companies. Learn business strategy and how investors evaluate early-stage companies that eventually go on to be market leaders. Reverse engineer how smaller (but successful) companies gained initial traction and identified their opportunity in the market. Bounce ideas off of smart people and/or online communities. Join online communities and monitor the conversation — what are people looking for these days? Where are the unmet needs and pain points?”
What is your advice for overcoming challenges and failure?
“Challenges and failure can be overwhelming and deflating, but very few things aside from health setbacks are powerful enough to keep you down for good. It's helpful to have that perspective. You can almost always bounce back from failure with more wisdom and experience as long as you're able to sustain your energy levels.”
What is the biggest lesson you learned and what can aspiring entrepreneurs take from it?
“Things will get difficult along the journey whether you're an entrepreneur or ambitious operator within a company. Steering the ship through the difficult parts and learning how to navigate choppy waters is where the biggest learnings and growth come from. You almost never learn anything by abandoning projects or jumping ship.”
Next Steps:
- Check out Packlane’s company profile 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 How to Start a Startup guide.
Tell Us Your Startup Story
Are you a startup founder and want to share your entrepreneurial journey with our readers? Click below to contact us today!
