“Timely completeness is better than prolonged perfection”
Story of a serial entrepreneur
Lior Tal, now CEO and founder of Rep’nUp, began his career in high tech as one of the first employees and product managers of an internet service provider. He was relocated to Boston where he strengthened the company’s US presence through channel development. Shortly after, the company was acquired and Lior moved back to Israel where he began applying his experience in the US towards helping Israeli companies penetrate the US market.
His career as a serial entrepreneur began in 2004 after co-founding a security company called Guardian Database, for which he successfully raised funds in both Israel and the US. It sold for $225M. In 2006 he created Insitix, a network access control company later acquired by McAfee and then PGguard, an app aimed at combating bullying. He worked on the company, but after two years of little growth decided to kill it.
Lior founded Rep’nUp in 2015 with a barely-there MVP. Rep’nUp uses a proprietary technology to detect controversial items in pictures posted on private social media accounts and hide them from the eyes of people who should not be seeing them. He says that the case is there and the need for the service is growing stronger everyday as our lives become more public. The things people do on social media have negative implications on their lives: school rejections, job rejections, and simply bad reputations. What one does on social media is a reflection of their personality and it’s important to hide it from those who shouldn’t be seeing it.
Rep’nUp’s goal is to transform people’s lives by changing the way they are perceived on social media.
Advice to founders
Lior’s biggest piece of advice to founders: if faced with an investment offer, unless it’s ridiculous, take it. He explains that contrary to popular belief, a company’s’ valuation isn’t as important as it is made out to be. If the investment comes from a good firm or individual, take it knowing that it’s not just the money that can help your company, but the source.
He also says that if you think you’re failing, fail fast. The biggest mistake an entrepreneur can make is to wait around hoping things will change, because, sadly, they usually won’t. By waiting and hoping, you only end up wasting more time, money, and effort.
Tips for success
- Think about your goals and what type of business you want to build to achieve them. A service, a lifestyle brand? Think about it and think about the opportunity it presents.
- Timely completeness is better than prolonged perfection. Minimize features, but do them well, get your MVP out there.
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