Uri Adoni - The Unstoppable Startup: Mastering Israels Secret Rules of Chutzpah

2020 Uri Adoni

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Published by HarperCollins Leadership, an imprint of HarperCollins Focus LLC.

Published in association with Kevin Anderson & Associates:

https://www.ka-writing.com/.

Book design by Aubrey Khan, Neuwirth & Associates.

ISBN 978-1-4002-1917-9 (eBook)

ISBN 978-1-4002-1916-2 (HC)

Epub Edition AUGUST 2020 9781400219179

Library of Congress Control Number: 2020936717

Printed in the United States of America

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IN LOVING MEMORY OF MY FATHER, Professor (MD) Amiram Adoni, who taught me by his example to challenge conventional wisdom of every kind, and to never accept the status quo just because someone, no matter how important they might be, says: This is how things are done. A pioneer, innovator, and early adopter of new technologies, he showed me what creativity truly is.

CONTENTS

T he path to any successful startup venture is fraught with risk, especially in the early stages where scarce resources are needed to maintain a path of growth as the business struggles to prove its viability. The fact is that most technology startups fail in those early stages.

The Unstoppable Startup draws guidelines and provides meaningful insights on how to boldly beat the odds.

In his book, Uri Adoni utilizes his extensive experience in tech, as both an investor and an executive, to guide current and future entrepreneurs, as well as tech investors, highlighting the secret ingredient behind Israels success story as a global technological leader.

That unique ingredient is ingrained in the Israeli Chutzpah, the bold can do attitude and the audacity that enables entrepreneurs to challenge the existing status quo or existing solutions. It is that attitude that makes them believe they can forecast what the world will need in a few years time, and to pursue their big dream with a deep and strong belief that their venture can and will become a global success.

Throughout this fascinating book, Uri provides his insiders perspective on what makes startups succeed and how to apply these strategies throughout the journey of building a startup. Since the only way to understand Chutzpah is by demonstrating it, this book is full of advice and practical, down-to-earth insights, aiming to provide real-world guidance on how to build and grow a startup the right way. The book also touches on how investors and board members can best assist a startup, and how to implement the rules of Chutzpah when building a new ecosystem.

At Facebook Israel, we work very closely with Israeli startups in their early days, helping them grow and expand, and supporting them in those challenging initial stages. After connecting with hundreds of startups over the years, I see incredible value in having the right guidance and support when building and growing a business while learning from the experience of others in the ecosystem.

The Unstoppable Startup is a wonderful guide for entrepreneurs, investors, and anybody in the startup ecosystem who wants to increase their chances of success by leveraging the experience of others.

Adi Soffer Teeni

General Manager, Facebook Israel

I f there are any questions, Id be happy to address them, I said as I was wrapping up a presentation at an international tech conference. I paused for a few moments, but the crowd was silent. Then, just as I was about to thank them and take my leave, an energetic man in his twenties called out from the back of the room. How should I tweet it? he asked.

How should you tweet what? I replied, not fully following his question.

Well, you just told us all about Israels high-tech phenomenonhow a small country with a population of just eight million people, constantly threatened by various enemies, has the most venture capital and the highest density of startups per capita of any country in the world. That the only countries that have more companies listed on NASDAQ than Israel are the US and China. But why is that? And how can I tweet your answer in 280 characters?!

It was actually a great question and I needed to take some time to think about it. If I had to answer you in one word, it would be Chutzpah, I finally said. Chutzpah is what makes the difference between Israels startup ecosystem and other startup ecosystems around the world, and its what differentiates Israels entrepreneurs from entrepreneurs from other countries. Chutzpah captures the intellectual and business audacity and charisma that are a must for any startup to succeed, for a new category to be created, and for a tiny region to become a global leader in a specific vertical. Thats what you should tweet, I concluded. That its all about Chutzpah.

To tell you the truth, my answer took me by surprise; it both clarified and deepened my thinking. In the months that followed, I approached a number of Israeli high-tech leaders and entrepreneurs and solicited their thoughts. How do you perceive Chutzpah? I asked them. How significant was it for the success of your startup? Is it something that you have to be born with, or can it be taught?

This book grew out of those conversations and my own experiences in Israeli high tech over the past decade and more. But before I continue, I want to linger for a moment on the word Chutzpah. Chutzpah is often translated from the Hebrew and Yiddish as audacity, but depending on the context, it has many meanings. All are delicious and have a way of sparking endless discussions about spunk, insolence, being a visionary, proving your mettleor just being an incredible jerk. Though Chutzpah can be a valuable trait, grifters and swindlers have it to burn. Israelis are often chastised by their compatriots to refrain from exercising Israeli Chutzpah while abroad, so as not to create the perception that Israelis are pushy and rude. On the other hand, Israelis are just as likely to brag about harnessing Israeli Chutzpah when it breeds success.

In The Joys of Yiddish, Leo Rosten defined Chutzpah as gall, brazen nerve, effrontery, incredible guts, presumption plus arrogance such as no other word and no other language can do justice to. It means nerve (as in some nerve), but perhaps the closest English equivalent is the vulgar balls or the Spanish cojones.

Dr. Eyal Inbar, a researcher of Israeli Business and International Relations, wrote an academic article analyzing Chutzpah as a unique Israeli cultural trait and its role in encouraging innovation in Israel. He defines Chutzpah as the challenging and defiance of the prevailing order, traditional thinking, behaviors, and fears, while being ready to take the risk involved. In startups, Chutzpah means a total denial of the long odds that the business will even survive, never mind revolutionize whole markets, with no fear of failure. Entrepreneurs with Chutzpah behave as if their companies are changing the world before theyve earned a single dollar. This unshakable self-confidence, in defiance of all reality, is essential to their success.