be yourself- startup & entrepreneurial tips by tomer dvir, mit forum israel

TOMER DVIRTOMER DVIRCEO & FOUNDER, SOLUTOCEO & FOUNDER, SOLUTO

BE YOURSELFBE YOURSELF

WHOISWHOIS

• 14 years experience in HW & SW design• InetB (Co-Founder, VP R&D)

• MDG Medical (CTO)

• Soluto (Co-Founder, CEO)

• Many others…

BE YOURSELFBE YOURSELF

……

Startup = Daily DilemmasStartup = Daily Dilemmas

Be YourselfBe Yourself

• Looking for those “Right Answers” for success of your startup?

Right answers?Right answers?

• There is no such thing.

Difference.Difference.

No one has the answersNo one has the answers

(Maybe god, but she’s busy with more important things…)

YOUR IDEAYOUR IDEA

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SkeptismSkeptism

• Have no assumptions

Concept SkeptismConcept Skeptism

• Keep evaluating your concept from scratch

Social Network?Why?

Social Network?Why?

Known FactKnown Fact

• As of 2007, The world voted ‘no’ for touch-screen based devices. Touch is dead.

Technology SkeptismTechnology Skeptism

• Choose technology while avoiding any myths

Technology myths & truthsTechnology myths & truths

• C# is slower than C++• Microsoft SQL – Bad• Client application – Web, AJAX, Flash• Cloud computing is the future of

everything

TRUTHS, “FACTS”TRUTHS, “FACTS”

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Truths, “Facts”Truths, “Facts”

• Hundreds exist• A few are not wrong• But, just like everything in life,

everything is subjective• Examples..

Startup Fact…Startup Fact…

“When funds are available, take it”

Startup Fact…Startup Fact…

“Launching a product on the internet requires a professional branding company, and costs $100k”

Startup Fact…Startup Fact…

“You should ask users what they

want”

Startup Fact…Startup Fact…

“Using Israeli Chief-Scientist funds creates problems with IP on M&A”

Startup Fact…Startup Fact…

“A startup cannot have 2 brands”

AREA 51AREA 51

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Area 51Area 51

You might have less/no experience(finance, marketing, legal, business..)

MagicMagic

Don’t throw the problems on other people and expect magic

MagicMagic

No subject is rocket science*

MagicMagic

No subject is rocket science*

* (unless you’re dealing with rocket science..)

Rocket ScienceRocket Science

Things to know:–Concept–Who to consult with–Jargon

JargonJargon

• Acronyms & Jargon – It’s cool and makes you feel important• If someone knows the jargon, he

knows the jargon

DOWNERSDOWNERS

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VD’s (Venture Downers)VD’s (Venture Downers)

• VD’s – People that have 2-10 reasons to quit your venture

• The 1-2-3 method:

VD’s (Venture Downers)VD’s (Venture Downers)

• VD’s – People that have 2-10 reasons to quit your venture• Step 1 - Listen• Step 2 - Take into proportion• Step 3 - Think & Learn

THE CEOTHE CEO

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The CEOThe CEO

“You must have the perfect CEO”

The CEOThe CEO

• There is no “Perfect CEO”• There is a “Perfect CEO for stage X”

The CEOThe CEO

• “CEO Mindset” - The ability to keep seeing things at a high level, with a wide view of ALL aspects• Best scenario – One of the founders

has it.

EQUITY LEECHESEQUITY LEECHES

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Equity LeechesEquity Leeches

• The better the idea, the more will come–Fund raising–Strategic introductions–Advisors

Equity LeechesEquity Leeches

• Dodge the leeches• Learn to identify the valuable ones• Try working with them• Triple-Check with references

ADVISORSADVISORS

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Advisors – How to identify?Advisors – How to identify?

High-tech celebrity name droppersNOT!

Yossa’leh Vardi is my #3

QuickDial …

Yossa’leh Vardi is my #3

QuickDial …

AdvisorsAdvisors

• Choose as if you’re choosing a partner• Be generous with the right ones• Advisors might be relevant to

specific periods

AdvisorsAdvisors

• Advisors “Pushed” by your investors–Only accept if they qualify

““BY THE BOOK” ISSUESBY THE BOOK” ISSUES

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By the book…By the book…

“A startup should work 14 hours / day”

By the book…By the book…

“You need an office manager”

By the book…By the book…

“You need a CFO”

GENERAL INSIGHTSGENERAL INSIGHTS

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FundsFunds

• Being hungry – Helps you stay lean• Go over your budget twice a week• Change to your working currency

Discounted ServicesDiscounted Services

• … for Equity–Lawyer–Equipment provider

Share VS ESOPShare VS ESOP

• No matter how early, avoid giving out “founder shares”

• (God invented ESOP for that)

Tools, Software licensesTools, Software licenses

• Licensing Programs – Saves $$$–Microsoft Empower–Microsoft BizSpark

• Google Services

Used EquipmentUsed Equipment

• An entire startup office can be raised using used equipment for half the cost

InspirationInspiration

• Guy Kawasaki (Garage Ventures)

• Paul Grahm (Y Combinator)

• Ishay Green (CTO, Soluto)

BE YOURSELFBE YOURSELF

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"Be yourself" is about the worst advice you can give some

people”~Tom Masson

http://www.soluto.comhttp://www.soluto.comRegister for an early beta!Register for an early beta!

Thank YouThank You

• Questions, Comments, Flame– Tomer@Soluto.com