TOMER DVIRTOMER DVIR CEO & FOUNDER, SOLUTOCEO & FOUNDER, SOLUTOBE YOURSELFBE YOURSELFWHOISWHOIS 14 years experience in HW & SW design InetB (Co-Founder, VP R&D) MDG Medical (CTO) Soluto (Co-Founder, CEO) Many othersBE YOURSELFBE YOURSELF Startup = Daily DilemmasStartup = Daily DilemmasBe 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 shes busy with more important things)YOUR IDEAYOUR IDEA1 1SkeptismSkeptism Have no assumptionsConcept SkeptismConcept Skeptism Keep evaluating your concept from scratchSocial 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 mythsTechnology myths & truthsTechnology myths & truths C# is slower than C+ Microsoft SQL Bad Client application Web, AJAX, Flash Cloud computing is the future of everythingTRUTHS, “FACTS”TRUTHS, “FACTS”2 2Truths, “Facts”Truths, “Facts” Hundreds exist A few are not wrong But, just like everything in life, everything is subjective Examples.Startup FactStartup Fact“When funds are available, take it”Startup FactStartup Fact“Launching a product on the internet requires a professional branding company, and costs $100k”Startup FactStartup Fact“You should ask users what they want”Startup FactStartup Fact“Using Israeli Chief-Scientist funds creates problems with IP on M&A”Startup FactStartup Fact“A startup cannot have 2 brands”AREA 51AREA 513 3Area 51Area 51You might have less/no experience (finance, marketing, legal, business.)MagicMagicDont throw the problems on other people and expect magicMagicMagicNo subject is rocket science*MagicMagicNo subject is rocket science* (unless youre dealing with rocket science.)Rocket ScienceRocket ScienceThings to know: Concept Who to consult with JargonJargonJargon Acronyms & Jargon Its cool and makes you feel important If someone knows the jargon, he knows the jargonDOWNERSDOWNERS4 4VDs (Venture Downers)VDs (Venture Downers) VDs People that have 2-10 reasons to quit your venture The 1-2-3 method:VDs (Venture Downers)VDs (Venture Downers) VDs People that have 2-10 reasons to quit your venture Step 1 - Listen Step 2 - Take into proportion Step 3 - Think & LearnTHE CEOTHE CEO5 5The 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 LEECHES6 6Equity LeechesEquity Leeches The better the idea, the more will come Fund raising Strategic introductions AdvisorsEquity LeechesEquity Leeches Dodge the leeches Learn to identify the valuable ones Try working with them Triple-Check with referencesADVISORSADVISORS7 7Advisors How to identify?Advisors How to identify?High-tech celebrity name droppers NOT!Yossaleh Vardi is my #3 QuickDial AdvisorsAdvisors Choose as if youre choosing a partner Be generous with the right ones Advisors might be relevant to specific periodsAdvisorsAdvisors Advisors “Pushed” by your investors Only accept if they qualify“BY THE BOOK” ISSUES“BY THE BOOK” ISSUES8 8By the bookBy the book“A startup should work 14 hours / day”By the bookBy the book“You need an office manager”By the bookBy the book“You need a CFO”GENERAL INSIGHTSGENERAL INSIGHTS9 9FundsFunds 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 providerShare 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 ServicesUsed EquipmentUsed Equipment An entire startup office can be raised using used equipment for half the costInspirationInspiration Guy Kawasaki (Garage Ventures) Paul Grahm (Y Combinator) Ishay Green (CTO, Soluto)BE YOURSELFBE YOURSELF1010“Be yourself“ is about the worst advice you can give some people”Tom Massonhttp:/www.soluto.comhttp:/www.soluto.com Register for an early beta!Register for an early beta!Thank YouThank You Questions, Comments, Flame TomerSoluto.com