Growth+
“In the early stages it is very important to do things yourself”
As part of the Growth+ project of Calcalist and Poalim Tech, Michal Mor, co-founder and CEO of Smart Shooter, sat down with Tamar Harary, CEO of LiteVision-EO, who said: “Deciding that I was starting the company and jumping into these waters was a very difficult decision.”
As part of the Growth+ project by Calcalist and Poalim Tech, Michal Mor, co-founder and CEO of Smart Shooter, met with Tamar Harary, CEO of LiteVision-EO, which develops miniaturized electro-optical cameras and systems for the military and civilian industries. Growth+, now in its third year, consists of 1:1 meetings between founders of leading tech companies in Israel and entrepreneurs of promising startups, with the goal of advising, supporting, and providing tools, knowledge, and practical guidance on entrepreneurship, creativity, startup management, and building companies for growth.
Michal, tell us about a crisis or challenge you encountered early on and what you learned from it.
“At the beginning, there are many questions and things we are unsure how to do. One of the tempting assumptions is that partnering with someone bigger who can help shorten your path will make things easier. I believe that in the early stages, it is very important to do things yourself. It is a crucial learning period, and it can even be dangerous to expect others to do the work for you, because there are no free lunches.
“When we realized this, we made a decision that we still follow today, to learn what is needed and simply do it ourselves. For example, in terms of financing, the temptation is to take ‘strategic money’ from large companies close to your field that can open doors. We chose instead to rely only on financial investment and to build things our way from start to finish, without shortcuts and without dependence. That way, you develop the company exactly the way you want it.”
Tamar, what was your most significant challenge this year?
“Just deciding. Deciding that I was starting the company and jumping into these waters. It was a very difficult decision.”
Michal, what advice did you give Tamar?
“First of all, I told her I was being a bit cheeky, because it’s a bit like with children, everyone gives advice, but in the end, your company is yours. We talked about the importance of building a circle of advisors along the way, very close and very smart people who bring something you lack. Awareness of what you lack is critical.
“Beyond that, we talked about how meeting people who have succeeded is inspiring and full of useful advice, but the real value comes from asking about their mistakes. Ask them to tell you what they did wrong and where they fell. I make sure to surround myself with people who are more experienced and more talented than me, and to learn from their mistakes so I can avoid repeating them.”
What did you learn from each other?
Tamar: “It is inspiring to sit across from Michal and see how she stayed true to her vision all the way through. She wanted to do things a certain way, did not compromise, and succeeded tremendously. There are many temptations along the way, I already see them at the beginning of my journey, and it is extremely difficult to say ‘no’ and stay on your path. Michal proves it is possible, and that is very impressive.”
Michal: “I was very impressed by Tamar’s courage. She has four sons, she is a doctor, and she had the opportunity to stay comfortably within the mainstream of her field at Rafael. She could have remained on a safe and comfortable path until retirement, but she chose to make a bold move and start something new. Doing this out of free choice, when you already have excellent and comfortable options, is very different from starting a company out of necessity. It is remarkable.”
Is there anything surprising you discovered about each other?
Michal: “I discovered that Tamar works with her husband, and that it works very well for them. Marital support is important, but working together in the same pressure cooker of a startup creates a completely different kind of dynamic. I was glad to hear they are succeeding at it.”
Tamar: “I discovered that Michal has two degrees in psychology.”
