Itamar Falcon of Coho AI On Five Things You Need To Create A Highly Successful Startup
An Interview With Doug Noll
In addition to this, adaptability is a key attribute that can’t be overlooked. Being rigid in your beliefs or plans can hamper progress. As leaders, it’s critical to adapt based on the evolving needs of the company, the market, and the team. Adaptability is not just about survival, but it’s also about recognizing opportunities for growth and transformation.
Startups have such a glamorous reputation. Companies like Facebook, Instagram, Youtube, Uber, and Airbnb once started as scrappy startups with huge dreams and huge obstacles. Yet we of course know that most startups don’t end up as success stories. What does a founder or a founding team need to know to create a highly successful startup? In this series, called “Five Things You Need To Create A Highly Successful Startup” we are talking to experienced and successful founders and business leaders who can share stories from their experiences about what it takes to create a highly successful startup. As a part of this series, we had the pleasure of interviewing Itamar Falcon.
Itamar Falcon, the CEO and Co-Founder of Coho AI, is an experienced data product analyst, as well as an accomplished manager in the data, cloud and technology sector. He is a graduate of the 8200 military intelligence unit, and has held a variety of positions across industry leaders, including Microsoft and Google, as well as in the academic side as a faculty member at the Technion — Israel Institute of Technology.
Itamar is passionate about solving the ineffective utilization of existing data sources, and has crafted a solution that benefits both companies and customers, by maximizing their value-added potential.
Thank you so much for joining us in this interview series! Before we dive in, our readers would love to “get to know you” a bit better. Can you tell us a bit about your ‘backstory’ and how you got started?
Absolutely, happy to share my backstory. I’m Itamar, the CEO and Co-Founder of Coho AI. My journey began in the data, cloud, and technology sectors where I worked for industry leaders like Microsoft and Google. These experiences nurtured a passion in me for data and its potential to revolutionize businesses. The idea of turning data into actionable insights led me to join forces with Ariel Maislos and Michael Ehrlich. We recognized the power of internal data and how it can be a game-changer for businesses if leveraged effectively. With this vision, we created Coho AI, a platform designed to help companies use their product usage data to generate more revenue.
What was the “Aha Moment” that led to the idea for your current company? Can you share that story with us?
Ariel Maislos, one of my co-founders, came up with the initial concept. Having been deeply involved in the tech sector as both a seasoned investor and a successful founder, he identified a critical gap in the market. He noticed that leading B2B SaaS companies were allocating substantial resources towards building internal tools to support their go-to-market efforts and improve sales efficiency.
However, Ariel recognized that there wasn’t a readily available, comprehensive solution addressing this need. Recognizing this opportunity, he teamed up with me, and Michael Ehrlich, our CTO. Together, we began crafting our solution. This was designed specifically for SaaS companies and centers around leveraging customer usage data to identify and capitalize on revenue opportunities.
Was there somebody in your life who inspired or helped you to start your journey with your business? Can you share a story with us?
As a matter of fact, my whole family had a profound influence on my journey into entrepreneurship. We’re a family of entrepreneurs, so it’s fair to say that it runs in my blood and it’s a part of every family conversation. Each family member has contributed to shaping my journey in a unique way. Entrepreneurship has always been more than just a career choice, it’s our way of life.
What do you think makes your company stand out? Can you share a story?
Coho AI stands out due to our focus on helping companies tap into their own internal data for discovering hidden revenue opportunities. A testament to this is a story of one of our clients, who initially doubted an out-of-the-box solution could address their unique needs. Yet, after using Coho AI, they saw an increase in conversions and successful deals from product qualified leads. The outcome validated our approach and changed their perspective on the value of their own data.
How have you used your success to bring goodness to the world?
At Coho AI, our focus is not just on maximizing revenue but also creating value for customers. We believe that helping companies understand and use their data better allows them to provide more personalized and meaningful experiences to their customers. In a way, our success lies in amplifying the success of our clients, and by extension, the satisfaction of their customers. It’s about creating a more connected and insightful business landscape.
You are a successful business leader. Which three character traits do you think were most instrumental to your success? Can you please share a story or example for each?
No-nonsense approach: In my experience, dealing with situations directly and honestly is imperative. There’s no room for evasion or sugar-coating in entrepreneurship. This has served me well in entrepreneurship, where you can’t afford to beat around the bush.
Curiosity: Complacency is a startup’s worst enemy. Even in areas where I’ve excelled, I continually push myself to learn and grow. My background as a product manager has ingrained in me the importance of constantly seeking fresh perspectives and challenging established thinking.
Empathy and ownership: I firmly believe that each member of a team has a significant role to play in the overall success of a venture. I’ve always endeavored to foster a culture where everyone feels a strong sense of ownership and empowerment in their respective roles. This mindset not only inspires commitment but also drives innovation.
Often leaders are asked to share the best advice they received. But let’s reverse the question. Can you share a story about advice you’ve received that you now wish you never followed?
At one point, I was advised that mentorship was overrated, and that I could navigate the entrepreneurial landscape on my own. As time passed, I found this advice to be not entirely accurate. While there is value in learning from your own experiences, the guidance and wisdom of a mentor can be incredibly beneficial. Mentors offer insights and perspectives that can help you navigate unfamiliar terrains and accelerate your progress in areas where you lack experience.
Can you tell us a story about the hard times that you faced when you first started your journey?
When you embark on a startup journey, you’re essentially signing up for a rollercoaster ride. There are thrilling highs and challenging lows. With every milestone achieved, a new, more daunting challenge emerges. But eventually, you understand that this is the nature of the game. It’s a perpetual journey of learning, improvising, and adapting, and you have to find ways to better yourself and your strategies every day.
Where did you get the drive to continue even though things were so hard? What strategies or techniques did you use to help overcome those challenges?
The drive to persevere, even when things are challenging, often comes from surrounding yourself with the right people. This includes not just your network of like-minded founders outside your organization, but also the people within your own company: your co-founders and your team. These relationships provide a bedrock of support, advice, and inspiration, helping to maintain morale and motivation.
On a personal level, my competitive nature provides a constant drive. It motivates me to continuously strive for improvement, both in terms of personal growth and the success of the company.
The journey of an entrepreneur is never easy and is filled with challenges, failures, setbacks, as well as joys, thrills and celebrations. Can you share a few ideas or stories from your experience about how to successfully ride the emotional highs & lows of being a founder”?
Navigating the entrepreneurial roller coaster is not about eliminating the lows or solely pursuing the highs; it’s about adapting to the journey’s rhythm and maintaining a steadfast focus on your vision. My own experience as a founder reflects this sentiment.
The peaks of triumph are exhilarating, yet it’s important to remain grounded and focused on your overarching mission. Conversely, during the lows, I’ve learned to see each setback as a stepping stone to growth.
Being an entrepreneur is an exercise in balance — quickly adapting to change, while remaining unwavering in our pursuit. It’s this blend of flexibility and constancy that I believe lies at the heart of a successful entrepreneurial journey.
Let’s imagine that a young founder comes to you and asks for your advice about whether venture capital or bootstrapping is best for them? What would you advise them? Can you kindly share a few things a founder should look at to determine if fundraising or bootstrapping is the right choice?
I’d advise them to consider their business needs, growth potential, and overall goals. While venture capital can fuel rapid growth, it often comes with certain expectations. Bootstrapping might allow more control and freedom, but growth can be slower. Analyze your business carefully to make the right choice.
Ok super. Here is the main question of our interview. Many startups are not successful, and some are very successful. From your experience or perspective, what are the main factors that distinguish successful startups from unsuccessful ones? What are your “Five Things You Need To Create A Highly Successful Startup”?
- Clear Vision: Know where you’re going and what you’re building.
- Team: Hire people smarter than you and empower them to do their best.
- User Focus: Always prioritize solving your users’ problems.
- Persistence: Don’t be afraid of failures. Use them as stepping stones.
- Culture: Creating an environment where every team member feels valued, inspired, and empowered.
What are the most common mistakes you have seen CEOs & founders make when they start a business? What can be done to avoid those errors?
I think one of the most prevalent mistakes CEOs and founders make when they start a business is underestimating the importance of the right team. A brilliant idea can only go so far without a dedicated and skilled team to execute it. Prioritizing team building, fostering growth and innovation, and promoting open communication are fundamental for success.
In addition to this, adaptability is a key attribute that can’t be overlooked. Being rigid in your beliefs or plans can hamper progress. As leaders, it’s critical to adapt based on the evolving needs of the company, the market, and the team. Adaptability is not just about survival, but it’s also about recognizing opportunities for growth and transformation.
You are a person of great influence. If you could start a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger. :-)
If I could ignite a movement, it would be the introduction of entrepreneurial education at an early age. The lessons and values gleaned from entrepreneurship — such as resilience in the face of failure, the capacity for innovation, and the ability to create impact — are invaluable life skills. I believe more exposure to these lessons early on can bring about a societal shift, fostering a culture of self-belief and entrepreneurial thinking. It’s about not just catalyzing positive change, but also empowering the next generation with the confidence and understanding that they, too, can forge their own paths someday.
We are blessed that some very prominent names in Business, VC funding, Sports, and Entertainment read this column. Is there a person in the world, or in the US with whom you would love to have a private breakfast or lunch, and why? He or she might just see this if we tag them.
I’ve long admired Malcolm Gladwell’s work, so it would be an honor to share a meal and a conversation with him. His ability to turn complex ideas into engaging stories, as showcased in his books like “Outliers” and “The Tipping Point,” is truly inspiring. His insights into success, societal phenomena, and the intricacies of the human mind have not only influenced my personal worldview but also my professional approach. The perspective he brings to his work — seeking out the unconventional wisdom hidden in everyday experiences — is something I’d love to delve deeper into with him. His books have always pushed the boundaries of my thinking, and I’m sure a face-to-face conversation would do the same.
How can our readers further follow your work online?
You can connect with me on LinkedIn, follow Coho AI company’s page or website
This was very inspiring. Thank you so much for the time you spent with this. We wish you continued success and good health!
About the Interviewer: Douglas E. Noll, JD, MA was born nearly blind, crippled with club feet, partially deaf, and left-handed. He overcame all of these obstacles to become a successful civil trial lawyer. In 2000, he abandoned his law practice to become a peacemaker. His calling is to serve humanity, and he executes his calling at many levels. He is an award-winning author, teacher, and trainer. He is a highly experienced mediator. Doug’s work carries him from international work to helping people resolve deep interpersonal and ideological conflicts. Doug teaches his innovative de-escalation skill that calms any angry person in 90 seconds or less. With Laurel Kaufer, Doug founded Prison of Peace in 2009. The Prison of Peace project trains life and long terms incarcerated people to be powerful peacemakers and mediators. He has been deeply moved by inmates who have learned and applied deep, empathic listening skills, leadership skills, and problem-solving skills to reduce violence in their prison communities. Their dedication to learning, improving, and serving their communities motivates him to expand the principles of Prison of Peace so that every human wanting to learn the skills of peace may do so. Doug’s awards include California Lawyer Magazine Lawyer of the Year, Best Lawyers in America Lawyer of the Year, Purpose Prize Fellow, International Academy of Mediators Syd Leezak Award of Excellence, National Academy of Distinguished Neutrals Neutral of the Year. His four books have won a number of awards and commendations. Doug’s podcast, Listen With Leaders, is now accepting guests. Click on this link to learn more and apply.
