Elan Oren: (Israel / USA) Founder of iMesh, Serial Entrepreneur, Senior Technology Executive.
Elan Oren is a growth hacker, enthusiastic about building a great company and amazing products. Extensive multidisciplinary proficiency in all aspects of company operations that led highly talented, tech-savvy innovator teams from early stage through fund raising, product building to profitability, M&A and Exit.
Temelko Dechev conducted the following interview, and he got the answer of the 1$ million question from Elan, check it:
What is the moment you have had in business that you would define as a “Business Storm”?
That’s a tricky question for someone like me that comes from 30 years of building, as much as 10 Start-up companies. Each of my start-up companies went through several “Business Storms” and every day was a new “Roller Coaster Ride.” So, to answer your question, I would say – I’m a “storm chaser”, I don’t wait for a storm to strike me unprepared. In other words, I constantly “Brain Storm” my business environment in order to anticipate and predict where the the market is going to plan for the possible “Rainy and Stormy Days”, making sure my business is best to prepare for the changing market conditions.
How did you “survive” that moment and how did you become better after that?
In order to “survive” a business storm, The most important thing is to have are contingency plans and to be able to make very fast business decisions that will adjust the course of your business towards the right direction as quickly as possible, to enable it to cope with the new business conditions.
When ever I hesitated, waited for the storm to pass or the market to change, In most cases I failed my business or lost to my competition. I survived as an entrepreneur because I was a fast learner of my mistakes and although I hate making mistakes and I hate failing, I was not afraid of failure itself, it only made better in what I do. My Failures only sharpened my survival business instincts and my long/short planing and decision making.
What do you see as a major Disruptive Factor in your industry at the current moment?
I’m an entrepreneur with a great passion for technology and innovation, So for me its always about disruptive technologies. But once I have figured out the technology my attention is shifted towards a disruptive business execution. That’s the difference between having a successful business or not. That’s to show you that its not enough to have a disruptive technology, at the end of the day its all about Execution Execution Execution!
What is the single most important ingredient that keeps businesses running sustainably over time, no matter the circumstances?
The single most important ingredient that’s needed is Business Agility planing – Making better and faster business decisions then your competition and executing on them before your competition does.
What would be your $1 million question?
I’m past the $1 million question, but I used to have this question constantly on my mind when I was doing my first start-up company at the age of 24. Back then my $1 million question was – How the hell do I make my 1st Million Dollars?, because I know that the 2nd million is already much easier to make.
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