Daniel Paluch

How did your experience at IE prepare you for your professional career? In what ways do you think the MIM program changed your life professionally and personally?

Knowing that I've always wanted to be an entrepreneur and always wanted to do something myself, I obviously looked for a university that would provide an environment where this career path would be nurtured. Needless to say, IE was, in that sense, very great for entrepreneurship. 

I remember we had a brainstorming session in one of the courses, and the premise was to turn a bad business idea into a great one. It was very because we were first asked, what are the worst ideas we can think of, which are never going to work? And then the ideas were switched between teams, and you had to turn these ideas into a real business. This problem-solving approach is what you need in the real world and especially in entrepreneurship. So, IE changed me professionally, I would say it really helped me progress from a job entrance level to a professional level. 

My time at IE was the first experience abroad for me. I was in a completely new environment, and I had to adapt to living in a Spanish speaking country, not speaking Spanish. I sound so old saying this, but maybe the experience turned me into an adult. 

What is one thing you wished you knew, when you were a student?

One thing I learned during my time at IE that I didn't learn during my undergrad is that it really pays off to go the extra mile. And it’s not about being top of the class or anything like that, but rather knowing for yourself you've tried everything you could, you've really pushed it as far as you could, so you won't have to look back and have regrets. Maybe, I could have pushed a little further. What could have been if I would've given it my all? 

That's what I learned in the Masters, because I was so inspired by other students. In all honesty, I walked into the classroom and felt, “hey, these guys might be way smarter than me. This is going to have a great impact on me.” I just felt like I was surrounded by amazing people, and it really had a great impact on me. And it pushed me to new heights and to really make the most of it.

What is the importance of maintaining close ties not only with your peers, but also with the institution?

My parents have raised me with the conviction that you should always treat people the way you want to be treated. And I'm always under the impression that if you nurture relationships, something good will come of it.

I've met a lot of amazing people at IE and, of course, I'm not hoping to get a business relationship out of every contact or thinking it's going to benefit me in a professional setting. When you do something nice for someone or if you keep in touch and you call someone from your intake every now and then and catch up… People memorize these things. And maybe they will recommend you to something. And it's like I said, it doesn't have to be in a professional sense, because you might end up meeting your future wife through an acquaintance like that, you never know what's going to happen. In that sense, I always try to nurture relationships, whatever kind.

Also, on a more professional sense, I’ve stayed in touch with some of my professors, for example, Dushinka Karani, who was my marketing professor. She actually helped us shape our first marketing strategy at Broidr. In a professional sense, it made a lot of sense, to stay in touch with IE and with the alumni network. 

I obviously also go to the alumni events, I went to the last one in Berlin and was quite surprised to see some people I didn't expect to see there, people I already knew from Berlin, and then found out they went to IE as well. And that's how the circle closes, I think it will always pay off to nurture relationships like that.

Are Entrepreneurs Born or Raised?

They're not raised, they are 100% made. I think anybody can be an entrepreneur if they want to. I do believe there's a certain innate quality, for example, it does play in very handy if you're very proficient in sales, because at the end of the day, entrepreneurship is, in my opinion, a lot about selling, pitching your idea, and convincing people. And that goes from raising VC money to talking to clients, selling your product, talking to partners, convincing them of whatever deal you have in mind. I think that predisposition is quite important, but that is also something that can be learned. If you have the right tools, such as the right access to knowledge, whether it’s books, masterclasses, or mentorships, and if you know the right people and you're in the right circle, I think anybody can become an entrepreneur. IE is the best example, this university turned me into a better entrepreneur than I was before, and that was due to the tools I had. I was fortunate enough to go to this university and be in this amazing environment. 

What are the most difficult parts of being an entrepreneur?

I've always to this day struggled with self-discipline. As an entrepreneur, you need to have absolute, hardcore self-discipline. Also, I very much thrive on an environment that motivates me. So, I don't know if I could be a solo entrepreneur, in all honesty. I really thrive in a team.

Another thing that was tough at the beginning was coming out of the master’s and seeing your friends going into investment banking, going into consulting, getting entry-level salaries of €70,000 or €80,000; and you're thinking, “what the hell are you doing and trying to build your own business when you could be earning those amounts of money?” But at the end of the day, there are many more important things than money, and I'm not an entrepreneur for a monetary reason. Of course, I would like to earn a decent living, but we're doing it for the impact. We're doing it for the freedom we can have in our lifestyle. That freedom, to me personally, is super important; I would rather cut my salary and have that freedom, being able to meet you here in Madrid for this week instead of being always limited in my opportunities. 

One more thing that is difficult is the pressure that weighs on you in the sense that one decision could be a make-or-break decision, right? These are decisions as basic as choosing a partner. If that partner has a bad reputation, it could completely destroy your business. If that partner has a good reputation and good relationships, it could boost you to a new level. Making these decisions is very difficult sometimes because you never know what the outcome is. You trust yourself in that you're well-informed, but you can never be sure. That's something I think is sometimes very difficult.

You were a finalist at the IE Venture Lab in 2023 with your company, Broidr. When and where did you find the idea for your company?

Our CEO and co-founder Julien Chabert is also part of my music project, that's how we got in touch. We met through music and this passion project we had, and we started doing merchandise with our label, Artefax Movement. That was the first touchpoint of merchandise. Julien has a professional background in textiles and organic textiles, and in 2021-2022, we started observing the merchandising market as a whole because it was very relevant at that moment during the Covid pandemic. A lot of companies were switching to home office only, and companies were forced to find new ways to reward their employees. You had to send gifts, swags, t-shirts, and all sorts of gifts. We were receiving that as well from the companies we were working for at the time. And we noticed that the market was broken, there’s a lot of low-quality stuff being gifted and thrown away instantly, completely defeating the purpose of merchandise. Many of these gifts were not sustainable and had very poor quality. We started observing that and thinking, “hey, there's an opportunity here; there's room for improvement.” 

We started looking into the process of sourcing merchandising as a company, we started ordering the merch and found this convoluted maze of different printers and providers. Very few agencies could act as full-service providers. We found that not only the offering was of poor quality, but also that the means to search for merchandise were very complicated. It's not an easy process. It's not like an easy web shop where you can just drag your logo and buy it. We thought, “wow, there's really room for improvement here.”

I was still at IE doing my master's, and Julien had already decided to start the company in mid-2022. I was there from the start, but I watched it from the sidelines to see how it would unfold. I was happy to join as an intern, but I couldn’t be fully on board because I had to finish my master’s first. In December, when I graduated, I went in full-time, and that's basically how we started.

Coming from a sustainable textile business perspective, we knew where to source our merchandise for the label from sustainable sources. But we never thought about the bigger picture of the corporate merchandising business..

Can you describe your experience at the Venture Lab and how it helped you achieve your entrepreneurial success?

It was my idea to join The Venture Lab, I had to convince my co-founders. We were super busy already with starting the company—we had revenue, a product, and a service. We were quite ahead of some of the people in the Venture Lab, who were pre-product and pre-revenue. So initially, there was some pushback from my co-founders. They questioned if it would really help us, but I assured them, saying, “hey, IE knows what they're doing when it comes to entrepreneurship and nurturing young companies.” So, we enrolled, and it was a great experience. 

We were a bit sad we didn't make it to the final stage, but one thing that might have made it better for us would have been doing it in person in Madrid. But it was very enlightening to work with other people starting companies or having ideas. It broadens your horizon, helps you think outside the box, and you get inspired by other participants. They have great ideas, and you start thinking about how you can implement those ideas into your business model. It broadens your horizon, and it's not just about winning the venture, it's about the knowledge and the experience you gain. Also, it was great to pitch again, we had pitched to VCs before, but this really forced us to rework all our slides and create a compelling pitch. This isn't something you typically do unless you're in a program like this. It really forced us to analyze ourselves and work on our pitching process.

Is there any advice that you would give to future or current students who are thinking about joining the Venture Lab?

Just do it. Ideally, do it in person. The conversations you have in person are way more profound than through a screen. The pitching process feels more real if you're standing in a classroom in front of real people.

What I really liked about it is that it doesn't feel like dry classroom work or a thesis. You're actually working on something you're passionate about because it's your idea. It nurtures your thinking-outside-the-box approach and is a great exercise in exploring the unknown. If you have an entrepreneurial vein or want to try the entrepreneurial path, the Venture Lab is a great way to start. It really gets you into the mindset of entrepreneurship, understanding what it means to pitch if you want to go down the VC route.

With this business idea, you're trying to disrupt an existing, well-established, multi-billion industry by offering highly curated corporate gifts and other types of merchandising that are ethically sourced and sustainable. How is this revolution going so far?

In short, very good. At this point, we've onboarded more than 120 clients. We've been in business for almost two years, and we're solidifying our product-market fit. We're expecting to exceed €500.000 in revenue, which I did not think was possible in the second year. I'm very happy with the progress and excited to see where we go next.

It's also interesting that your idea addresses not only the difficulty of getting decent merchandising for companies but also ensures it's sustainable and ethically sourced. It’s obvious that you are aiming to have a positive impact with your company. Is there anything you would say that alumni can do to create a positive impact not only within the community but also for the rest of the world?

I believe when choosing an entrepreneurial path, you should really focus on the impact you're having. You shouldn't do it to build a company within two years, increase its value as much as possible, and sell it just for the financial gain. That shouldn't be the motivation to become an entrepreneur. It should be about the impact or the mission that you're on. I'm not saying I disregard the financial aspect, like I said before, I'm trying to make a decent living. But as an entrepreneur, you should always focus on something that has a measurable positive impact. Don't follow the money; follow a broader purpose and a goal. This is something we learned in the Venture Lab and in entrepreneurship classes. It's about the impact that generates lasting success.

What's your day-to-day like?

Actually, after this interview, this day would probably be my normal workday. The amazing thing is, I have the freedom to work from anywhere I want. My day-to-day is usually very busy but very exciting and eventful. It's never repetitive. We visit partners and clients a lot, so I need to be in Central Europe mostly. There are always new challenges, but in a positive way. It's always very rewarding and exciting. I really love having the freedom to go wherever I want.

You were featured in the Forbes 30 Under 30 Europe 2024 list, in the Retail and E-commerce category. Congratulations! What was your initial reaction when you found out you had been selected?

Thank you. My initial reaction was disbelief. I couldn't believe it was real. Shortly after graduating, I put the Forbes 30 Under 30 logo on my vision board and set it as a goal. It felt surreal that I had reached it so fast. That's why I couldn't believe it at first. It took me a few days to digest it, but I was very excited and over the moon.

What do you think sets you apart from others in your field, leading to your inclusion in the list?

I think with our business and our approach we are creating a positive impact, the sustainability approach is what sets us apart. Sustainability is becoming increasingly important, not just for us but also for organizations like Forbes. They recognize that it's not solely about monetary achievements, they’re coming around the fact that it’s also about the broader impact, that you need to create an impact with your business. I believe that’s what sets us apart and why we were chosen, let’s face it, there are other companies that scale faster than us, but they might have a business model that’s not sustainable.

Who is the most fascinating person you have worked with or met? And if you could steal an object from their office, what would it be?

I don't have a specific go-to answer because I've met so many inspiring people, I don’t think I can point my finger at one person. However, the most inspiring individuals I've worked with are my current co-founders. They inspire me every day, pushing me to new heights with their professionalism and expertise, which helps me grow as well.

If it were someone exceptional that I could have met, like an idol of mine with an impressive entrepreneurial journey, I would probably say Richard Branson. And if I could steal something from him, it would be his journal or the mental health books he reads to stay sane while running his empire. Understanding his processes, the way he operates, how he manages his workday, and his overall approach to life would be incredibly valuable. I very much relate to him because he has his roots in the music industry, he started with a record shop and managed to build an empire from it. 

Just like Richard Branson, you're a music enthusiast and the co-founder of a music label, Artefax Movement. How do you manage your time to attend both your businesses?

That's a good question. In all honesty, it's very tough at the moment. Our business takes up a lot of my time, it's definitely not a 40-hour workweek—more like 50, 60, sometimes 70 hours. Unfortunately, I don't have a lot of time for the record label right now, but this is temporary. Things will eventually slow down, and we'll be reviving the label. I have some DJ gigs planned for this year, so I try to keep a little balance towards my hobbies and passions. I struggled with balancing my first job and running Artefax simultaneously at the beginning of my career. I realized that to do something properly, you have to focus on one thing, so I decided to focus on the business right now. We're keeping Artefax on the sidelines but definitly reviving it soon.

You mentioned you’re currently bootstrapping your business, but eventually, you'll be able to hire more people and have more free time for your passion project.

Exactly, that's the goal.

For me, music is something I can't live without. What's the one thing you can't live without?

That's a great answer. I relate to that a lot. I also listen to music in every situation of life—it's very necessary for me. Interestingly, when a Forbes editor asked me the same question, I said my calendar because I'd run around like a headless chicken without it. I schedule my entire day in ten-minute blocks. But music is crucial; I listen to it every day, and it keeps me sane. Additionally, my journal is something I can't live without. Writing down my day-to-day thoughts helps me revisit situations and conversations, providing new realizations and clarity.

And it really keeps me sane because sometimes you overthink stuff and you go crazy. So, I would say journal, music, and a stoicism book by Marcus Aurelius. You can tell I have a lot of practices to keep sane.

Can you tell us something most people wouldn't know about you?

One thing most people don't know about me is that I miss Madrid a lot, and I'm actually thinking about moving back. 

What's your measure of success?

My measure of success is happiness and being content with what you do. It should be fulfilling, whatever you do. Of course, in our modern society you can't completely disregard status, financial gains, and that sort of thing. But at the end of the day, if you're happy with what you're doing and it fulfils you, and you don't feel stressed out on your day-to-day, and it gives you energy rather than robbing your energy, I think you're in the right profession. 

If you had a billboard that you could display to the world, what would you write on it?

This is a phrase I'm stealing from a podcaster called Theo Von. He once said, “Just ask her out. It doesn't matter what she is, whether it’s a job, a new city, a person, an opportunity, or a fear.” Take a plunge into the cold water and see what comes of it. And if it's a very big billboard, you could add, "You'll be more thankful in 50 years, knowing you've given it your all and you've tried, rather than sitting there with regret and thinking what could have been."