Alumni

Keeping Your Vision Focused But Your Mind Open

Eugene Goncharov is the co-founder and CEO of Magnitend. Having graduated from the NYU Poly with a B.S in Mechanical Engineering, he has set his focus on bio-medical technology, primarily on medical imaging. Magnitend started out as his senior design project, but now he and John Bayer (member of the senior design team) are currently continuing to collaborate with a professor of mechanical engineering (Vittoria Flamini) from NYU-Poly, a clinical radiologist (Dr.Leon Axel ) and MRI researcher (Steven Baete) from NYU-Langone Medical Center to work on a device intended to improve the functionality of MRI machines.

I’ve been running a startup for the better half of two months now; this is my very first venture (not counting an earlier project my friend and I worked on which never got past the early stages of development). Since embarking on this entrepreneurial journey I’ve learned a whole lot; however, I know I still have much to learn. In my opinion, understanding that there is always more to learn is the first step in progressing as a successful entrepreneur. Never stop learning about your market and all the things that impact it -- and yes I mean absolutely everything.

So, you’ve decided to join the startup world; congratulations on attempting to solve a lingering problem in this world. This principle is what defines the entrepreneurial spirit: a driving passion to fix problems and a need to make a difference. Being able to identify these issues is a skill all of its own but don’t get too prideful yet.

You’re a smart person who has stumbled upon a novel idea or a creative solution but you’re still far from success, but there are still many roadblocks to address on your path to Silicon Valley stardom. Make sure to develop an articulate and concise vision for your company but remember to keep an open mind as you progress; this will help as you stay agile and adaptive as you traverse these roadblocks.

"There are known knowns. These are things we know that we know. There are known unknowns. That is to say, there are things that we know we don't know. But there are also unknown unknowns. There are things we don't know we don't know." - Donald Rumsfeld

The greater point here is that you should question your own beliefs constantly. Make sure you talk to others and value their opinion; especially your customers, co-founders, advisers and even your competitors. Communicate constantly and effectively; learn to convey yourself properly, especially to your team. Don’t be dismissive of criticism or dissenting opinions; learn to take away something beneficial from every conversation.

Take in all sources of information and judge for yourself if they are valid or not; do not jump to conclusions. Even in times of distress it is important to understand that some people will never understand you or your vision and that's okay. You just need to convince the right people you’re capable of greatness.

Suspend your biases and don’t be scared to change your path accordingly. Don’t be afraid of failure; in fact embrace it. It is better to fail early and move on when your time and monetary investments are still minimal. Most of all trust your intuition; you are the only person who ultimately determines your success.

Magnitend is currently hiring. If you are interested, Apply Here! Much thanks to Jozii for providing an awesome job searching platform.

Meet some of NYU's top startups and founders, including Eugene, at the Summer Launchpad Venture Showcase. RSVP here!

Alumni