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ISEMI's staff accompanies the establishment of a High-Tech internet start-up, from its inception

In addition to the technical stages of preparing a business plan, raising funds, and (hopefully) going public, we will find out more about the process itself; finding the right partners, drafting a founders agreement, deciding on roles and titles etc, etc…
We promise to be open and frank and reveal the secrets of high tech startups in Israel.
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Entrepreneurship Blog Archive:
1. The spark
2. Eyes wide open
3. A smack on the face
4. Innovate
5. The elevator peach
6. Good partner
7. The Indian way
8. Show me the money
9. Recruiting staff part1
10. Recruiting staff part2
11. The financial side
"Startups and family life"
entrepreneurship blog – Post 12

This time we want to deal with an aspect that people don’t usually talk about – how a startup can affect your family life.
During the ISEMI course that Ze’ev and I took, some of the participants raised this question a few times, when we met with serial entrepreneurs, those who had started more than one or two companies in their lifetimes.
Today the answer is simple, and it’s usually the same. Once you start a venture, and particularly in the early stages, you have a huge amount to do, so there’s very little time for sleep. You have to keep meeting the next target, and the next, and this is bound to be at the expense of time with your life partner and family. For the new entrepreneur, the most precious commodity is time, how can you get past the simple fact of 24 hours in a day. But, just between ourselves, even if there were 36 hours in a day, you would still be short of time!
So before you take the first step, you have to consider your family, ask their advice, get their support, because they are another “investor” in your venture. You have to set definite objectives with a target date, until when you will devote yourself totally to the venture, and decide what happens once you reach that objective.
From my personal experience, I can say that while we were working intensively there were occasional arguments due to the fact that the venture became the center of my life. Almost every waking moment was devoted to the work, and even when I wasn’t actually working the venture dominated my thoughts. It’s total dedication – in the morning you’re checking emails before you’ve brushed your teeth!
But it’s important to set aside some time for family and even friends. You don’t want to discover, when your startup takes off, that meanwhile you’ve lost something that is means more than time and money.
I remember clearly when we brought a new partner into the business, and the first thing he said to us was that he had to discuss it with his wife. As an experienced entrepreneur, he knew how much was required and if he joined us, his family would have to play second fiddle for a while.
Apart from the investment of time, a financial investment is also needed. Another point to take into account in terms of the family. The money that new entrepreneurs invest in their venture is usually money that belongs equally to their wives or husbands.
To sum up
You must look at your wife/ husband as an investor in every way. Before you embark on your adventure, they must understand what is involved, so try to involve them in everything – but don’t just focus on what they have to give up, but also on the idea and its chances for success. This kind of sharing generates mutual support and understanding, things that are no less important than other aspects of the venture. In the end, your four hours of sleep each night will be spent with your spouse.

