Slava Rubin founded crowdfunding platform IndieGoGo in 2008, building momentum right when the recession hit. In the summer of 2009, he began to question its survival.
Now at the head of a company used by more than 100,000 projects globally, he offered these pointers for entrepreneurs about how to get through tough market times during a speech at the Southland Summit:
• Keep your expenses lean until you feel like you know exactly what you are spending on.
• Focus on your product first; don’t overspend on marketing or public relations.
• Always focus on customer needs: “If you feel like you have something the customer wants, keep pushing that forward.”
Rubin is one of several national entrepreneur leaders visitng Nashville this week as a part of the inuagural Southland Summit. The two-day event drew hundreds of entrepreneurs, investors and business leaders from throughout the region and featured startup pitches to investors and executives and panel discussions to help Nashville and the Southeast grow its entrepreneurial community.
When asked about his own advice for growing startups in Nashville, Rubin underlined the importance of fostering companies through incubators and startup centers and connecting business minds with engineers to test ideas and get them to the marketplace.
Rubin also pointed to the role crowdfunding will play in the economy, adding that equity crowdfunding will expand that market.
“I think the ’80s was all about desktop computing, the ’90s was all about online commerce, 2000s was about social,” he said. “I think this decade will go down as the decade of funding, everyone having an equal opportunity to raise money for their passions and dreams and ideas. It’s a game-changing idea.”
What Indiegogo campaigns should we check out?