By Slava Rubin
Every day, hundreds of entrepreneurs launch crowdfunding campaigns on Indiegogo to raise money and awareness for their businesses. As CEO of Indiegogo, I have been in touch with potential entrepreneurs from all over the world with a wide variety of business ideas. Across this wide spectrum, I have realized that many entrepreneurs are misguided by the same myths, time and time again.
Here are the five most common myths about starting a business — and how we’ve seen them get blown out of the water at Indiegogo:
Myth #1: There’s a “right” time to start.
We started Indiegogo months before the financial crisis of 2008, and when the economy took a hit, most people advised us to shut down. However, my co-founders and I were each so passionate about our efforts to democratize fundraising that we pressed forward at all costs. It wasn’t easy, but every time we spoke with someone who was denied a loan from a bank, or couldn’t find a way to raise money for his or her cause, it reinforced our commitment to the mission of Indiegogo — empowering anyone, anywhere in the world, to raise money for anything.
We learned that there is no “right” time to start a business when basing that timing on external market factors. The only “right” time is when you’re passionate about an idea, product or service. Continue reading….