In May 2018, Pulse co-founders Lara Daniel and Chris Kastenholz revisited the ESADE Business School in Madrid, where they both attended graduate school before starting the Pulse Group in 2014. Since Pulse's inception, their startup has grown at an exponential rate, now boasting a team of over 125 and 4 global offices in Hamburg, New York, Milan, and London. At the beginning of the year, Forbes even recognized this success by awarding Lara and Chris as one of the “30 under 30” leading young entrepreneurs in their industry. Lara and Christoph were therefore honoured when invited to share their influencer marketing expertise at TEDx, a video series that showcases different speakers from around the world.
In their talk, Lara and Chris discussed their experience and addressed six myths about entrepreneurship in order to inspire others who are looking to start their own business. We’ve wrapped up the key takeaways for you, but you should see the video for yourself!
Myth 1: Don’t partner with your partner. Lara and Christoph are both a couple and co-founders of the Pulse Group. They communicate that what’s most important when choosing a business partner is sharing the same vision.
Myth 2: The idea is everything. For them, it’s important to know that your idea does not have to be perfect from the start as it will evolve over time until you find the sweet spot. Having started their own fashion label before creating Pulse, Chris and Lara know that what’s important is that you get started in the first place. Things will then fall into place.
Myth 3: Keep it a secret. From their experience, the value of sharing your idea and having others question and challenge it will always be much higher than the risk of someone stealing your idea. If you believe in your idea and are eager to put it into practice, no one will be able to stop you.
Myth 4: You need money. Lara and Christoph were able to grow the Pulse Group without any outside investments. This allowed them to control their own business decisions, ultimately making the company what it is today. They urge founders to reflect about whether they really need the financial help, or are just taking on investors to ‘approve their pitch’ before making decisions that will impact the ownership structure of the company severely.
Myth 5: Know it all. You don’t have to know it all. There is a lot of power in acknowledging areas in which you are not an expert that you can hire others to teach you and compliment your skills.
Myth 6: Have a plan B. Don’t invest time and resources to making a plan B. Put everything you have into plan A!