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