Alex Furmansky is the founder of Budsies, the company that turns artwork or photos into custom stuffed animals and brings smiles to thousands of families worldwide. The company is also home to two other brands: Petsies (custom plush lookalikes of pets and other unique custom pet gifts) and Stuffed Animal Pros (custom plush mascots for brands and book authors). Previously, Furmansky also founded Sparkology, the number one dating site for young professionals in New York City.
He’s been featured on Shark Tank, CNBC, and Fox News, and in The New York Times, HuffPo, Mashable, etc. Prior, Furmansky was director of business development at OpenPeak, iBanking M&A analyst at Evercore Partners, and consulted tech companies with growth strategy. He is a graduate of University of Pennsylvania’s School of Engineering and Wharton School of Business. He likes tech discovery, sailing to horizons, surfing Cali sunsets, random walks through NYC, hidden vineyards, staring at airplanes, and investing in people.
What is Budsies all about?
Budsies is all about handmade, personalized gifts. We are the world’s best team for turning drawn characters into real, 3D, custom stuffed animals. Our original debut was with bringing children’s drawings to life. Since then, we’ve expanded to making adorable plush lookalikes of people’s pets (Petsies), working with brands and book authors to bring their characters into the hands of fans around the world (Stuffed Animal Pros), and custom gifts like pillows, socks, face masks, and keychains.
The common thread across all of our services is the exceptionally wholesome joy they bring. Everything we do serves our mission of making the world more huggable, including our Budsies Pals program. Last year we delivered handmade plushies to over 100 children in hospitals or long-term care facilities.
Tell us a little bit about your background and how you started your company?
First and foremost, I’m a proud older brother, a caring son, and a grateful founder. As a first-generation American, our family did not have much during my childhood and that has awarded me both the hunger to strive for growth and the humility to know my limitations. I was between projects when the idea for Budsies struck me. I noticed my brilliant sister Michelle playing make-believe with her generic stuffed animals all while her own collection of sketched characters adorned our kitchen fridge. Why couldn’t she play with her own creations?! The very first Budsies plush we made was of Dongler: my sister’s red pig with a wonky snout, blue legs, and fun antennae on this head. He’s now our mascot and we sprinkle fun cartoons of him throughout our customer experience.
What are your plans, how do you plan to grow this company?
We are continuing to iterate our operations and design prowess to deliver superior custom plush services. We’re also expanding our portfolio of products to maximize our impact on families around the world. For example, we recently launched our Photo Pillows product, which is a great way for people to share their love, especially when you can’t visit family and friends due to COVID-19 social distancing rules.
What were the top mistakes you made starting your business and what did you learn from it?
I did not come from a background in manufacturing operations so I did not fully appreciate the value of robust operational processes with redundancy. During my first holiday season, my one and only production line went down and we were completely stuck. Beyond that catastrophe, we would get set back for days even when small supplies like tape guns and packing meters would break. I’m really grateful that our customers were so supportive and understanding! They gave me the runway to learn from my mistakes. We’ve gotten much better at operations since then, and we’re constantly auditing and learning how to ensure a great customer experience.
How do you separate yourself from your competitors?
Our services are unparalleled because our ever-growing team is as invested in the products as our customers are. We genuinely love the products we ship and the impact they have. Every customer that interacts with our brand receives a memorable experience.
What are three books or courses you recommend for new entrepreneurs?
- Zero to One by Peter Thiel
- Never Split the Difference by Christopher Voss
- Your own journal/diary (remember to stay true to why you are on your journey)
What is the one thing you wish you knew before starting your business?
Being a founder is a lonely profession and one where you somehow need to be master of everything… from legal to IT to HR and everything in between. Looking back, I wish I formed or joined a group of other founders so we could share best practices. There are plenty of organizations, including EO, YPO, and YEC, that offer a support network.
What’s your best piece of advice for aspiring and new entrepreneurs?
For aspiring entrepreneurs: Take the leap. Or don’t. Whatever you do, please try and avoid becoming a “wantrepreneur”. Those are the folks who spend years talking about huge ideas that are too good to share all while staying at the same job and not making any measurable progress towards their goal. If you enjoy your career, then, by all means, don’t be a founder. There are really great jobs out there and being a founder is grueling. Be proud of your career and focus on becoming a complete badass at your trade. Love it. We’re hiring. Come join us.
On the other hand, if you want to go down the path of entrepreneurship, you should take that leap shortly after making your decision. No amount of planning, attending seminars, or writing business plans will prepare you for the arduous journey that only starts when you bring a product or service to a real customer.
In short: be proud of your career or be proud of being a founder. Just do your best to avoid the trap of being a long-term aspirational entrepreneur caught between two worlds.
For new entrepreneurs: treat your people with respect. Behind every great product is an incredible team of people who show up every day and give their all to make it happen.
What is your favorite quote?
They say it takes a village to raise a child. The same is true for creating a lasting company out of nothing. I’m reminded of this every day as our employees continue to surprise me with their commitment and contributions. And outside of the company: family, friends, and relatives have all been there over the years to help me lift Budsies from idea to the business it is today.
How can we get in touch with you?
You can find us online at Budsies.com, MyPetsies.com, StuffedAnimalPros.com
and via social media Facebook: @Budsies, Instagram: @Budsies and Twitter: @BudsiesToys
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