Use scientific approach to every idea! Research, survey, test, MVP, use other people's money
Riva: Hey Elad. What are you up to these days?
Elad: Unfortunately, I just closed mobile social app start-up after 2 years of hard work. I am now working on full-time on Paperwallet and building customization and network effect into the product. I am also starting to plan my next venture!
Riva: How do you combine between design and business?
Elad: My speciality is Marketing and Design – before I start working on anything I think about the product I want to build and mold it to the expectations of the target market. This 'molding' of the product has a lot to do with how the product looks and works and therefore Design, UX, and UI are key to the product and its acceptance by the target market. 'Business' is as simple as taking $1 and turning it into $2… if you know your market and design your product right (physical design functional design) then the product will resonate with the market and and your ROI will be positive.
Riva: Can you share insights or tips from your business experience?
Elad: My tips would be to pick your area of interest and study the shit out of it constantly. Know everything there is to know about your area of interest, and keep up to date, because things change fast in todays marketplace. Other than your area or interest in business I would recommend studying social media and growth marketing (if it is relevant to your industry (which in most cases it is)). Its one thing to create a great product that people will love! and its another to get people to know, understand, and hear about your great product!
Riva: Is there any business moves that you especially proud of?
Elad: I don’t think that there is anything I am especially proud of because I think that business is 50% action and 50% luck. I am just as proud of my failures as I am of my successes; both just require action to bring an idea to life. My failures are special to me because not only did I learn a lot from them, but some of them were extremely ambitious, and gave me the confidence to continue on with an even greater & more realistic ambition towards future projects.
Riva: Would you do anything differently today in business?
Elad: I do! Use scientific approach to every idea! Research, survey, test, MVP, use other people's money, and don’t build anything until you have proof that it works.
Riva: Can you share with us a useful link to an interview / application / tool or a story?
Elad: There is an interview on Calcalist: http://www.calcalist.co.il/consumer/articles/0,7340,L-3646610,00.html