My Life as an EntrepreneurAnd struggles as CEO

Jacob Ner-David

2bVentures

My List1994 -

• TTR Technologies (www.ttr.co.il) [1994]• Ambient Technologies (www.ambient.co.il) [1995]• Delta Three (www.deltathree.com) [1996]• Congruency (www.congruency.com) [1999]• Taskmail (www.taskmail.com) [2000]• AccessME (www.accessme.com) [2000]• NomadIQ (www.omnisky.com) [2000]• Back Bay Scientific (www.backbayscientific.com)

[2000]• ??????????? [2001]

The “IDEA”

Doesn’t have to be the best – JUST GOOD ENOUGHBUT THEN IT IS THE BEST!

The Team

Be very careful with the “founder” title – it will come back to haunt you!

The MONEY

Go as long as you can without it!! But remember that everything is money: your time is money!!

The Politics

This is where great ideas get buried – avoid politics at all costs. Remember that not much separates all of us. She easily could be your “boss” next time. . .

Top Tips

• Never look back, but learn from the past• Need to create a black box effect• Be absolutely prepared to change plan, but be

absolutely dedicated to the plan of the moment• The usual: 10% of a good thing is worth much

more than 99% of ZERO• Don’t hold grudges• Nothing is secure• And of course, TIMING IS EVERYTHING

A Start-Up CEO

• Full time – but I mean full time

• Dirty Delegating

• No room for mistakes

• Never Personalize the Company

• Growth without drowning

Full Time

• CEO sets the tone for working rhythm – but don’t play out of tune

• There is no real down time• Fine line between working hard and burning out• Family must support you – and you must support

them• You have to judge what needs to be finished

NOW, and what can wait for tomorrow• But PLEASE, do something other than just the

company

Dirty Delegating

• Management 101 does not apply here• Everybody gets their hands dirty – make your

own coffee• But CEO can’t do everything• Delegation without total removal is delicate

balance• Constantly need to make sure that everyone has a

full time job• Learn people’s strengths – don’t assume anything

No room for Mistakes

• But it won’t be perfect – Get used to it

• Treat every dollar as your last

• Every meeting could be the most important

• Every day check yourself to make sure you are leading in the right direction

Never Personalize It

• Do not become the company

• Retain a separate identity

• But be strongly associated

• Company failure is not failure as CEO

• Always remember that you can’t do it alone – team really is just as important

Growth Without Drowning

• CEO needs to keep growth in check – remember the Golem and water story

• Big is not always better• Start-up staff should always feel slightly

overworked• Some people do not scale, and some

organizational models break apart• Company should feel the same but different

GOOD LUCK!!!

Jacob Ner-David

Jacob@2bventures.com