People 25 February 2019
It can seem rare when best friends team up, go into business together and build something successful. For Gabi Koshgarian and Catherine Wang, CEO's and Co-Founders of blankbox, this decision came naturally.
Pictured above, are Founders and CEOs, Gabi Koshgarian and Catherine Wang. (Photo Courtesy of blankbox)
They met their senior year of college and remained best friends beyond the walls of College of the Holy Cross. Having both worked in finance and living four blocks apart they figured there was nothing else to do besides getting in to business together. The pair, who specialize in “ready-to-Gift" gift boxes, are using blankbox to create an “elevated experience" for their customers, especially those who love gifting, are looking for something personal, customized and easy to buy. In three simple steps, one would choose a box design, select crinkle cut or tissue paper and wait on its arrival. Whether they want to celebrate the big or little things in life, Koshgarian and Wang hope to provide a resource for them to do so.
This six-month old company provides everything needed to send a “chic and customized gift" minus the gift, of course. These female co-founders sat down with SWAAY to share with us their journey into entrepreneurship, overall goal of blankbox and what they hope for in the future.
Behind the scenes of blankbox...
1. What was the inspiration behind the company's name?
We both love giving gifts, and will put in effort to make our gifts thoughtful. Unfortunately, that makes gifting somewhat of a hassle: toddler-style wrap jobs, “crap! the card!" last minute sprints, and uninspiring department store gift bags when we're really desperate. We wanted to bring a gifting experience to market that essentially solved all the hassles of gifting that we ourselves had experienced.
The name blankbox actually came to one of us in the middle of the night. Not kidding! We had been trying to find a name that captured the essence of our box, which can be used for any occasion from traditional holidays to the little things: “will you be my bridesmaid?", “congrats on your promotion", etc. We kept saying to ourselves, okay it's a ________ box' and filling in the blank, so it finally hit us: blankbox!
2. You explain how you'd both been searching for a better gifting experience prior to launching this company. How does your brand differ from other gifting services? What do other companies lack, that blankbox offers?
Before blankbox, if you wanted to give a gift you had a few options: traditional gift wrap, company branded wrap (think department store gift box), or a pre-curated gift box.
With traditional gift wrap, you get to thoughtfully choose the gifts, but then struggle with creating an elevated presentation and the inconvenience of going out to buy the wrapping supplies (does anyone actually know how to wrap well besides my mother? Also, once you become a mother do you magically gain the skills to wrap? Need to know).
With packaging, like a department store gift bag, you again get to choose the gifts but are limited to that one retailer. Giving a box [that is] branded with a company name doesn't exactly scream personal. Lastly, you have numerous companies offering pre-curated gift boxes that offer the opposite experience: elevated presentation and convenience, but lacking the personal and thoughtful gift choice.
That's where blankbox comes in.
We solve for what each of the above options lack by giving gifters the convenience and elevated presentation of a pre-curated gift box, but with the ability to personalize with any gift they'd like. We provide elevated packaging without 'in-your-face' company branding sent directly to your door. As our customer, all you do is add your gift [and] give! As a plus, with no visible branding on the box (it's on the bottom), they are meant to be kept or reused. To date, we've seen creative reuses like coffee table centerpieces, bookshelf decor, momento boxes, and of course re-gifting.
“blankbox is about so much more than the boxes" - blankbox
(Photo Courtesy of blankbox)
3. What was your journey into entrepreneurship like as best friends? Especially when you were bringing blankbox to life?
You know it's funny; we all hear these warnings about working with or employing friends and family members because feelings can get hurt if it doesn't work out. [Though], for us it's been a great experience, really fun and has made us closer [as] friends.
We have the ability to separate blankbox conversations from friend conversations. We're both very direct people in general, so when either one of us is being tough or pushing back at the other because we disagree on a business decision, it's understood that it's not personal. We've approached things differently several times, but there have been very few times where both of us feel strongly about the same thing.
If we could give one piece of advice to close friends thinking about starting a business together, it would be to make sure you “work the same way". By this I mean, you may have different skill sets to bring to the table, but you both need to have a similar work personality for it to work.
For us, we are both organized and get things done quickly. So, it's never the case where one person doesn't do something they say they would do or where one has to chase the other. This is absolutely key to maintaining our friendship and business relationship without issue.
4. You have a newsletter called, 'the fill.' How does 'the fill' carry out your company's mission and add on to the overall experience?
So excited you noticed! This is a very recent addition to blankbox and we're really excited about it. The point of “the fill' is to be for content what our boxes are for gifting. We want to create elevated content that is actually meaningful to our reader base, gets people excited and relates to their lives.
As blankbox has grown, it's become about so much more than the boxes themselves; people want to hear our story and our experience in the female founder community, and we are consistently asked for advice on what gifts to include in a blankbox (hint: it fits a bottle of wine. just saying). We figured “the fill" was a great place to start with.
For now, we're keeping it short and sweet with a once-per-month release, including founder features, tailored gift guides and behind the scenes blankbox action. We'd love to hear any ideas you or anyone else has about content to include!
'The fill' will contain monthly gift guides. Each [one] will be curated by us, with a fun twist on a holiday happening that month. Any gift on this gift guide will be brands and founders we love and have experienced enough to recommend, and will not be sponsored content. Our website will allow customers to click through to purchase on each brand's site.
Stay tuned for more exciting gift related things in the coming months!
5. What would you say keeps you motivated each day when it comes to running your business and why?
We're constantly networking and meeting new people as part of growing our brand; with that, obviously, comes explaining what blankbox is and who we are over and over! There is NO feeling in the world better than explaining what blankbox is and seeing someone's eyes light up, or hearing them say “Oh my god. That makes so much sense. I needed this…" We have heard “I needed this..." more times than we can count, and it's even more exciting when they become a customer!
We'd be lying if we said every single thing we do for blankbox is fun and exciting; there are definitely more arduous tasks (have you ever cut a massive roll of bubble wrap into the same size pieces for 2 straight hours? Not fun. [And] don't even get us started on taxes). So there are definitely nights we'd so much rather swan dive into bed than do work, but remembering that at the end of the day, we have a product that people understand and that excites them - that validates the work we're doing.
6. Did you face any challenges that almost deterred you from continuing with this business? Do you have any advice that you'd like to share for new entrepreneurs and female founders?
I would say the biggest challenge at first was not knowing how to do some of the things we needed to do: namely, designing the boxes and building our website (on a self-funded budget). We are incredibly lucky to have our designer Madeline, who is not only super talented but one of Gabi's best friends! We must have gone through thousands of designs before finalizing our [three] to launch with, so without Madeline there's no way we could have made this a reality. Same goes for our website designer Sami. He was able to visualize what we wanted, and create it without getting distracted by us constantly barking changes in his ear. Right before launch, we decided we wanted to launch with optional handwritten gift tags, as this would make the packaging even more personal - the only problem was, neither of us can calligraphy. One long social media stalk session later, and we found Brittany, a talent-turned-friend that is indispensable to our product!
Along these lines, there are always going to be skills you don't have going into entrepreneurship. In more traditional jobs, it's okay to get segmented into one skill set or another – as an entrepreneur, you're everything at once. Some of our best advice is to not panic about things you can't do. Look around at your network – friends, family, colleagues, etc. More times than not, there is someone in your inner circle who can teach you what you don't know, or help you get it done. And don't be afraid to ask. Whether it's finance, graphic design, social media, or anything else, there is always someone who knows more than you and will help you if you ask. And if not, Google is your best friend. It's definitely ours!
(Photo Courtesy of blankbox)
7. What do you hope to accomplish with blankbox in the years ahead?
We launched with [three] designs and one size to test the market - in the coming years we would love to grow our collection into more designs and more sizes! We're also exploring design collaboration ideas and would love to collaborate with NYC-based artists, designers, and/or women we admire to create limited edition collections.
On a bigger picture scale, we're so excited to continue expanding blankbox's market share and do our part to preserve the thoughtfulness and personal touch behind gifting, even as everything around us becomes less interpersonal (seamless pizza to our apartment 2 blocks away...check!)
Whether it's your child or your brand, there is nothing quite like the excitement you get when you see the fruits of your efforts grow. In the face of aversion, you must remain cool-minded and adaptable to remain effective. This can be quite stressful, and every minute counts. Alone, the responsibility can be overwhelming - wouldn't it be nice if things just ran themselves sometimes? Especially those things that we do mindlessly all the time, and seem to take up most of our time?
When you start a business, you soon come to realize that in order to grow your brand, you need to be extremely organized. And to be efficiently organized, it is imperative that you master the art of managing your time. The saying 'time is money' rings true when it comes to growth. This is why we're going to provide you with helpful tips that will allow you to save time so you can focus on growing your brand.
Use the Right Tools
Technology has changed the way we conduct our business with each other. Today, more than ever before, we have access to data which gives us clearer insight and vision, as well as better tools for productivity. However, as we all know, this is all conditional to your intent. As much as a smartphone can be a tool for productivity, it can also be a fantastic source of distraction and procrastination, which is directly detrimental to said productivity. Automation is an advantage that is available to almost everyone today when it would have been unthinkable just a generation ago.
When a brand is still young, the team is still close-knit and there isn't too much coordination necessary when it comes to keeping up to date and on top of work. Chat groups and video calls can do, as well as simple task-managing apps. But as you grow, your workflow becomes more complex and the volume of data generated by your company will very quickly become a logistical nightmare.
Telltale signs of data overwhelming are endless excel sheets, frantic Post-it notes all around the (real or digital) office, and relying on the consumer rather than business-oriented data storage and communications solutions. These have their limits, and investing in a holistic company-wide system will not be a waste.
Work More Effectively
Your workflow can be simplified into smaller tasks which follow each other in a sequence, which can have conditional elements to it. That's where automation comes in. If you can draw it in a flowchart, you can automate it. Tasks that would have taken days can be outsourced to a machine that will not only perform but also learn in the process.
There is now a myriad of online services for freelancers which essentially give them the productivity potential of a small firm. We're now at the point where bots at https://www.hellobonsai.com/contract-templates can generate custom templates for the documents your brand needs, replacing the need for a legal consultant to intervene. You just need to know what you want to automate, and what you want to make out of it. If you create a logical process from the inception of your brand, then the automation will be seamless, as all you will need to do is add more tasks.
Be Mobile and Flexible
Most of your coworkers and clients will probably already have a smartphone, or will soon. It is also very likely that beyond using these for leisure and social activities, they use them for work. It is now normal to switch off the heating in that apartment you've been renting out while you are on holiday because your AirBNB tenants are overusing it. Or to track the status of your latest food delivery while you are sitting on the toilet.
Consumers today are not only constantly on the move, but they are also increasingly data-focused. They will be looking for results and have the capabilities they need to research, analyze, and calculate what they deem necessary to ensure they will be making the right decision. They thus also expect the same in return, in the form of bespoke customer service that is both intelligent and responsive.
Data is everywhere and is relatively easy to obtain. In a single click, you can generate a web analysis that will reveal more information about your blog or website than your doctor will ever tell you about your own body. Before diving into this ocean of data, take time to identify what is really important to you. Brainstorming is a great tool to really identify and prioritize what you and your team should be focusing on first. If you try to wage war on all fronts, then the chances of winning are slim.
With the right tools and the right method, you can save yourself quite a considerable amount of time. With both the agility and flexibility that data managing and automation software brings to the table, you will see an increase in your productivity. Careful planning is key, and if you focus on streamlining your workflow, you will be able to take your brand to the next level.