Markus Feigelbinder, founder and managing director of the travel tech startup Fineway, talks about his role models and why it is so important for him as a founder to be open-minded. He also skillfully dismisses prejudices about startups. company financed with over 20 million euros The Munich resident founded the company together with Markus Bohl in 2015. An interview.
Munich Startup: Markus, What motivated you to start the company?
Markus Feigelbinder: The idea for Fineway and our Instant Trip Planning It arose from a personal circumstance. Before each of my vacations, there were long discussions about who should take charge of the travel planning. It became clear to me that the time spent comparing offers, researching options, and planning everything was disproportionately large. Booking travel is complicated, time-consuming, and annoying—I often wished I had a good spirit who knew exactly what I wanted and could pick the right one from the millions of offers.
When the desire for a “good spirit” motivates you to start a business
The technology that embodies this spirit already exists. And no one needs to spend hours on end, stressed out at work, searching travel portals for accommodations, flights, or leisure activities. Fineway was born from this realization.
Did you have any role models when you started your business?
Of course, everyone looks with admiration to stars like Jeff Bezos and Steve Jobs, who stuck to their vision and, despite various obstacles, turned their idea into a successful company, practically an empire. Their enormous success alone provides inspiration.
“Role models can be found everywhere”
Over time, however, I've realized that while it's nice to read books about successful people, ultimately it's the people in my immediate environment who influence me. Role models can be found everywhere. It starts at university and continues with colleagues, bosses, partners, co-founders, and investors. You just have to be open to seeing the strengths of the people around you and using them to your advantage. This influences your daily actions and motivation much more directly than abstract role models you've never met.
That's why it's so crucial for a founder to build a network of people who inspire them, serve as role models, and offer sound advice when needed. In my opinion, that's much more important than following an entrepreneurial idol. The people mentioned earlier—Jobs and Bezos—are role models in the sense that they transformed an industry and showed it new directions. Ultimately, that's Fineway's vision, too. We want to turn the travel industry on its head.
When and where do you get the best ideas?
If only you could plan it. If I knew that I regularly get flashes of inspiration in the shower, that would be great, and I'd know what to do. Personally, I can't identify any pattern. Sometimes a brilliant idea comes when I least expect it, while driving, on vacation, or while shopping. Sometimes I need a more active environment, where the pressure is higher, or where we work specifically on ideas as a team.
In general, my advice is to trust yourself. I've never seen someone completely without ideas on an important topic—especially one that's close to their heart. And if they do, colleagues, partners, etc. can provide the crucial impetus for a good idea. You just have to be open to inspiration—no matter where it comes from.
Don't let yourself be imposed with limits that don't exist
Your biggest weakness?
Often, perceived weaknesses suddenly become strengths in a different context and become talents. In general, thinking big and pursuing seemingly impossible goals can be seen as a weakness, as it prevents you from immediately taking action and thinking in terms of achievable dimensions. As a founder, however, this helps me immensely in seeing a vision and inspiring a wide variety of people to embrace it. So, I consider it a talent.
The biggest mistake you have ever made?
The biggest mistake was not questioning common opinions and thus imposing limits on ourselves that don't actually exist. Just because "you" believe something isn't possible or feasible doesn't mean it won't work. It's worth trying things out, because you can't go backwards. The worst that can happen is that the others are right.
Be ready to give something
Your secret weapon when networking?
Entire books are filled with this topic. Ultimately, however, it's always about talking to other people. Even the best-intentioned tips can't get around it. Getting out and meeting people is your secret weapon. I also believe a network only survives if you're willing to give something. Talking to people and believing that all it takes to solve your problem is a fallacy. In a network, I also share my expertise and connections. You should be willing to do that.
Does this seem like a good time to start a business? Why?
If you have a good idea that's crying out for implementation, "now" is always a good time. The political, economic, and social conditions only change over the long term. This means you have to make the best of the current situation and look for ways to launch your business with the best possible prospects. Of course, every industry is different in this regard.
In general, for example, there's still work to be done on the political conditions to facilitate more company start-ups. But that shouldn't deter anyone who feels the urge to start their own startup from taking action. The time was, of course, ripe for the use of artificial intelligence like Fineway.
Work-life balance versus social isolation
The three worst prejudices you have encountered in your everyday life as a founder?
Especially in Germany, there are fixed ideas about startups and their founders.
Often, people don't bother to address the topic. People tend to simply say that startups only use the label "innovative" because everyone else is doing it. However, most founders—like us at Fineway—aspire to do something new, think differently, and change an industry. I find the stereotype that founders simply repackage old things and call them innovative to be completely inappropriate. Fortunately, more and more people are open-minded and understand the founders' approaches.
Another prejudice focuses on personality and social circles. Why should founders automatically be denied friends and family? That's nonsense. It's logical that founders make certain concessions to advance their vision. But the idea that this inevitably leads to social isolation is a prejudice. This black-and-white thinking helps no one and, in the worst case, deters capable people from starting their own businesses simply because they believe starting a family will then no longer be possible. Yet there are many positive examples of work-life balance in the everyday lives of founders.
Finally, I find the assumption that all founders have to be incredibly young strange. The popular belief is that founders come together at a very young age and then tinker with more or less realistic ideas. Who says you can't start a company at 40? With all the experience and a large network, it's not as far-fetched as people generally believe.
What’s on top of your desk right now?
One thing that's constantly on my desk is bringing more great employees on board. We're fortunate to have a highly motivated and talented team. But we're growing and still need good people. This starts with travel experts based in the respective countries and knows the country inside and out as a travel destination, and continues with AIExperts and data scientists. Since not only technical expertise is important, but also personality and a passion for travel and AI, we pay close attention to detail. This has worked well so far, but recruiting definitely needs to be a priority.
Where are you going on holiday next??
Northern destinations are very appealing to me. As luck would have it, my next destination is British Columbia, on Canada's west coast. I've been putting it off for a long time, but Canada has long been on my list of preferred destinations. The area from Vancouver to the almost untouched north appeals to me. And luckily, we can avoid the hassle of booking a trip.
Have fun on your next trip, and thank you for your open answers, dear Markus Feigelbinder!
