The Journey of a Serial Entrepreneur: The Intersection of Architecture and Design - Of Buildings and Startups

Eitan Tsarfati, Co-Founder & CEO of SWAPP, has the soul of a designer and the mindset of an architect, combined with a powerful entrepreneurial spirit. Formerly an architect at the Tel Aviv municipality, he continued his studies at Harvard Business School's management program and successfully sold his first startup to Autodesk. A family man, Eitan is a happily married father of Daniel. Today, I have the privilege of working closely with him on his second startup, Swapp, and taking an exciting mental journey with him on his entrepreneurial path. In this episode, he shares amazing insights on how to make the right decisions by integrating rational thinking with gut feelings, the differences between first-time and second-time Co-Founders, how to cope with the loss of a team member, and what mental tools help him balance his personal and professional lives (hint: mindfulness is in there).

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"Many entrepreneurs today try to think about things, as well as investments, in a very rational way, according to logical/mathematical/external metrics, but their inner self is not mathematical or logical, it is emotional first of all. And ultimately if you don't do what feels right, with 'feels' being the key word, you won't succeed - because you're not listening to yourself."

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Reflecting on his entrepreneurial journey, Eitan shares important insights. With his second startup, he emphasizes the strategic vision needed to build a long-term company. Unlike his first venture, where all funding offers were welcomed, Eitan now sees investment as a partnership, carefully considering its fit with the company's values. 

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When asked why entrepreneurs sometimes need to turn down funding, Eitan stresses the importance of value-based decision making. He believes values play a crucial role in the entrepreneurial journey, shaping not just the business but also the people involved. 

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In navigating fateful decisions like declining funding, Eitan advises not to see such choices, made in line with one's values, as disastrous mistakes. Instead, he suggests these decisions can lead to meaningful growth. Recognizing the emotional aspect of decision making, he emphasizes the need to listen to one's inner self, especially in challenging times.

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Eitan's personal growth and development as an entrepreneur involves a dual focus: gaining expertise through analytical tools and deeper understanding of oneself. He highlights the significance of inner reflection and listening to the inner voice, emphasizing the role of self-awareness in decision making.

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Comparing co-founding experiences between his first and second startups, Eitan stresses the increased pace of decision making the second time around. Relying on yourself and making choices immediately, even if perceived as hasty, is a key difference that comes with experience.

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"And regarding AI, so many markets have become irrelevant overnight, how do we as young entrepreneurs approach founding a startup knowing the pace of change is so rapid?"

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Connecting the dots is the concept Eitan decided to employ, saying it's the hardest thing to do. He recommends trying to connect the dots and understand where your business can evolve given the dizzyingly fast changing reality we live in today. 

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Voicing concerns about AI, Eitan stresses the importance of regulation while noting no AI can replace the need to explore the emotional aspects of decision making, which depends on our level of self-knowledge.

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His close friend, known as JJ, was a team member of Eitan's who passed away unexpectedly. When I asked him about coping, Eitan shares no one prepares you for this, it's not a course you can study at Harvard. Still, when facing such challenges, you cope as best as possible. He emphasizes each employee's ongoing daily struggle and highlights the value of open conversations to strengthen the team. This is also a place to remember dear JJ.

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Mindfulness serves Eitan as a tool for self-awareness and balance. For him, it's a big word for being self-aware, understanding the moment and managing it. Understanding one's balances, how you manage your day and emotions. 

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I (Gali) conclude by adding that as entrepreneurs we often measure ourselves by productivity rather than effectiveness, and effectiveness can be improved with various mental tools found everywhere.

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In closing, Eitan emphasizes being a "human founder", just like this podcast is called, recognizing the integration and balance required in navigating the dual worlds of entrepreneurship and humanity.