Eugene Plotkin is a Russian-born, Harvard-educated finance, business, and technology professional. Plotkin started as a Wall Street investment banker at Goldman Sachs and then later, Melvin Capital. During his time at Melvin Capital, he realized his passion for new technology, more specifically, for financial technologies. Today, Eugene Plotkin is a consultant for fintech startups as well as being the CEO for TechWallet, a startup that he helped found. Eugene Plotkin has a special passion for helping as many people use technology to understand and organize their finances as possible. He believes that technology should directly benefit its users and that fintech has the potential for exponential benefit.
How did you get started in this business?
After playing my hand at Wallstreet and other big New York firms for many years, I decided that it was time to focus on something else. Something bigger than spreadsheet, vacations, prestige, and the stock market. I began to think about how alienating finance is to most people who do not work in finance. I understood then that my purpose was to use the technologies available in the world to help bridge this gap.
How do you make money?
I do some financial consulting and also my app and startup, TechWallet generates income.
How long did it take for you to become profitable?
One year(for my startup).
When you were starting out, was there ever a time you doubted it would work? If so, how did you handle that?
Of course! When I first started my company, every day I was worried that I would fail or that I wasn’t being a good enough leader. I had thoughts of inadequacy and that I was not the right person to do this or this wasn’t the right time. However, as we continued on in our efforts with the company, I realized that no one is perfect, there is never a perfect time and at the end of the day. We are all just trying our best. I really believe in my company’s essential goal and that keeps me grounded when the going gets tough.
How did you get your first customer?
Our first customer came from an excellently placed Google ad. My team was able to utilize data to catch customers at the perfect moment in their search journeys.
What is one marketing strategy (other than referrals) that you’re using that works really well to generate new business?
We typically use google ads, networking, email marketing. However, we also publish a lot of content on our blog and generally just try to make sure that what we are putting out there is relevant, engaging, and informative. Your customers should just be naturally engaged with everything you put out.
What is the toughest decision you’ve had to make in the last few months?
The toughest decisions I have had to make recently and since the inception of TechWallet have been about staffing and the ways that we have had to deal with the various instabilities of COVID 19. I appreciate the collaborators and people who make TechWallet what it is to the moon and back. There have been times that I have had to make hard HR and staffing decisions where I feel like there is no “right’ answer.
What do you think it is that makes you successful?
I think what makes me successful is that I always show up. I am extremely diligent and consistent. I think that TechWallet is so successful because we all really care about our work and it means something to each of us. For me, I enjoy my work and it is a pleasure to put 100% into it.
What has been your most satisfying moment in business?
My most satisfying moment was a couple of months ago when we had a team meeting. There wasn’t anything especially interesting about this meeting or this day. I just had a moment where I looked from person to person and I realized how amazing all these employees were. I also realized that they all had grown so much in their perspective roles. All the trainings, hirings, meetings, untangling, and everything in between suddenly seemed worth it.
What does the future hold for your business? What are you most excited about?
We are always looking forward to scaling and building our business! More don’t this later…
What business books have inspired you?
The Innovation Ultimatum by Steve Brown, Bank 4.0 by Brett King, Atomic Habits by James Clear, and Good to Great by Jim Collins.
What advice would you give to your younger self?
Don’t compromise your values, dreams, or ideas for other people.
Are you willing to be a mentor? If so, how should someone contact you?
Yes! Please reach out via my website.