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Launching a Startup In Israel: How To Avoid The Fiasco

You may be a very smart CEO with grand ideas about changing the world through your Israel start-up; however, in order to succeed, according to Perfectual’s website, you need a plan
Start-ups display their technologies at a high-tech event in Jerusalem (Photo credit: Kobi Gideon / Flash90)
Start-ups display their technologies at a high-tech event in Jerusalem (Photo credit: Kobi Gideon / Flash90)

A startup in Israel is a very exciting time. There are so many things to plan, and it’s amazing to see your dreams come true. In the midst of your excitement, however, be sure to consider that things might go wrong. If you can think ahead, you may be able to save your startup before it’s too late. While it feels that every situation is different, the fact is that most every fiasco can be avoided by using some foresight.

You may be a very smart CEO with grandeur ideas about changing the world through your Israel startup. However, in order to succeed, according to Perfectual’s website, you need a plan, and you can start by answering the following two questions:

  1. What is the most important thing that I can do to keep my startup fresh, successful, and interesting?
  2. What is my plan if I find that my Israeli startup is in trouble?

Meet Your Clients’ Needs

Your clients are the most important part of any startup. You must identify with your customers so you can continue to meet their needs. Do you understand your target audience and know what they want? Will your products or services continue to respond to your clients’ needs? Will you continue to find new and exciting products? It’s important that you can answer these questions and have proof to back up your answers.

Find People Who Can Help and Support You

When your startup in Israel begins, you will need to have a team to help you get started. While you won’t be able to have a large number of people on your staff, you do need people that will support you. You also need to be able to trust your team and lean on them for advice and ideas as you get started. If you don’t have a support team, it’s likely that your startup will fail. According to the Times of Israel website, it can be tough to find trained personnel in the technology department. Therefore, before you get in too deep, make sure that you have enough people to help you. You simply can’t do it alone; you need a strong team to help give you support and ideas. Delegating responsibility and working with others who are experts in your field will help you to grow more quickly without fear of a fiasco.

Make it Happen by Getting Started

Your startup in Israel began with an idea in your head. While that is certainly the basis of your startup, these ideas must be brought to fruition. Talk is cheap, and it’s important to actually see things happen. Getting the startup from an idea into an actual design usually presents problems that were unable to be foreseen. Oftentimes, the cost is much greater than was anticipated, so some adjustments must be made in the finances to compensate for the revisions. Every part of the plan needs to be specifically laid out so it can be carried out to perfection upon final production.

Make Sure You Have Enough Money

Unfortunately, most startups fail. Most of them fail because of financial problems. It’s important to find someone to invest in your business. You need to evaluate how much your services will cost, how much you will charge, and how much investment of capital will be required in order to develop your products and/or services. Another problem is when money is not handled correctly. Financial decisions regarding your startup in Israel should be discussed with your team. It’s important to have realistic goals, as money goes quickly and you need to stay on top of where your funds are going at all times.

Get Financial Help

Startup businesses in Israel can access resources through over 200 government aids. These startup services help provide ideas, advice, funding, and even locations. The good news is that if your business doesn’t do well, you won’t have to pay for it. One of the ways for the individual startup company to access startup money is through one of the country’s startup services. These offer you the opportunity to find financial support, advice, ideas, and areas from which to work. And if your business isn’t a success, then you won’t have to pay a dime. Here is a list of 10 Israeli top startup accelerators to help you get started.

Have a Marketing Strategy

When you begin your startup in Israel, it’s vital to have specific marketing strategies in place. People can’t buy your product or services if they don’t know you are there. How you go about marketing can largely depend on what you have to offer. If you have a brick and mortar store, you can advertise more on a local level. Conversely, if you are selling online products or services, you will want to do more advertising online. Either way, however, you will need a website that is mobile friendly. Everyone expects to find a business online these days. On your website, it’s important that you use excellent content writing for marketing so that you will draw traffic to your site and convince people that they need your services or products. It’s also vital that you practice good SEO (search engine optimization) on your website so that you will rank higher than your competitors on search engines.

Don’t Give Up

As you can see, there are many reasons why a startup in Israel can fail. However, if you have some primary assets in place, you will have a great chance at being successful. This includes meeting your clients’ needs, having a great team that supports you, seeing your products and/or services actually being completed, making sure your finances are in order, getting financial help, and incorporating a strong marketing strategy. While this may seem like a lot, remember that most startups fail. This is likely because processes, strategies, and plans were not established early on. It is possible for you to be a success by following these simple principles and pressing on when things get tough.

About the Author
Ethan Dunwill currently resides in Hong Kong and works as an independent blogger.
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