Episode 7: Nachum Kligman – Launching Multiple Start Ups/Kickstarter/Consulting – How To Do It All!

The Story of Nachum Kligman

Nachum started as a young kid, he found himself selling candy to other students. This venture became so successful that at one point he was making more money that the teachers themselves!

Nachum talks about how as a young kid, he was always more “street smart” as opposed to being book smart. This resulted in him thinking of more and more business ventures and ideas. 

In Israel he launched his first restaurant, but the industry is tough, it requires long hours and after 1 year he decided it was time for a change to he sold it and moved to the states. When he got there he was looking at multiple opportunities and found the advertising industry of particular interest, so he invested in a franchise advertising business. 

Soon after his marriage, Nachum moved to Israel and in 2002 he opened up his first high-tech startup. This was at the time when Facebook hadn’t taken off and they already had more than 70,000+ users!

The tech startup called: “Invite” was a type of messenger that combined all types of users including msn, aim, AOL, etc. He had two partners and in 2004 he introduced them to the concept called “Social Networking”, he explained to them that it was going to be huge and it would be the future of how people interacted, but unfortunately the partners decided to not move forward with this and two years later they went out of business. 

Did you pursue the tech business any further?

When you start a company, it drains you. For one year Nachum was up to 3am discussing ideas and how to implement growth, this was a time when he was putting in 18 hour days. 

It takes an incredible amount to get the idea off the ground. In 2005 he saw an opportunity with an online video that focused on monetising video. Viewbix had 3 patents and was a video commerce platform. 

Viewbix had 8–9 employees but in 2010 when Viewbix went for its next round of funding, the investor was willing to put in $500k, but wanted 80% of the company. Reluctantly, Nachum agreed and decided to become a silent partner but eventually 3 months later realised it wasn’t for him and left the company. 

How did this lead onto the Book Like A Boss platform?

After all of these experiences, Nachum went to work in the apparel industry. Working with China was a bit of a disaster for Nachum and due to things messing up, they had to close the company.

At this point, Nachum had launched company after company. He needed a break, so he used this time to write a book and do consulting. Consulting was a fantastic opportunity to do what he loves best which is helping people. 

As a consultant, he found that it was particularly hard for him to charge for his time. He wanted a platform where he could send people a calendar so they could book him and pay for his time. This solution simply didn’t exist. 

Nachum tried creating something on WordPress and hire someone but it could have potentially cost thousands. At this point, a non-technical friend of his who was a masseuse requested a platform where people could book a time in her calendar and pay for the massage in one place. 

That’s when a great friend who was a programmer in 2015 jumped on board and together they created the Book Like A Boss platform. 

How much importance do you put on education, relative to being street smart?

Nachum doesn’t place much importance on education, ultimately it’s important to realise you can spend $100k going into college, but there’s no education that’s better than experience. 

As an Entrepreneur you’ve got to wear 40–50+ different hats. This teaches you to think in an educated way and think on an hour to hour basis. The education system is too theoretical and doesn’t actually teach you how to think in real way. 

How did you launch a successful Kickstarter Campaign?

It’s important to realise that Kickstarter is better to tangible psychical products. With Kickstarter is requires non-stop promoting and advertising, however it requires one fundamental goal which is to solve a pain in the market, this massively increases your chances of success. As yourself, what’s the biggest pain point you’re solving?

Where do you find the passion to keep going after all these years, and multiple ventures — what keeps you going?

Nachum advises that he doesn’t work these long hours anymore. With experience comes perception and in a lot less time he’s able to make decisions. Business is about knowing your partners, and knowing your own strengths and weaknesses. Don’t hide your weaknesses, get someone who can make up for your weaknesses and you’ll get a lot further a lot faster. 

It’s important to remember ultimately that family comes first, in the past Nachum has made the mistake of letting business come before family but it’s important to realise you only have one life to live. 

There’s honestly nothing like family, when you have a wife and two kids they come first. It’s also important to “switch off” from time to time. Nachum has a day in the week where he switches off for 24 hours and this gives him the strength to go long hours when required. 

What would be your advice in doing due diligence when finding partners for your company?

Finding a business partner is a lot like finding a partner in life. Nachum has two partners, one of them is the CTO who wrote all the code. This is someone that Nachum’s worked with in the past.

Nachum and David both knew each other. Even if you like each other, you both need to agree who is going to be in charge of what. There’s been times when David has been working 8–10 hours a day and Nachum has worked 2–3 because the product wasn’t quite ready. 

However, remember it’s not about counting hours, it’s about counting successes. 

Let’s talk about the App Sumo platform, how did you get on here, and what was impact did this have on your business?

I can’t underestimate the power of app sumo. At the time, we had an MVP and only a couple of hundred people using the software where we were getting feedback.

When we had App Sumo we went from having 2–300 users to more than 4,000 users. Those 3 weeks, we were putting in 15 hours days. 

When you get that amount of hours, it proves that this is something people want and they are willing to pay for.

Thousands of people from over 40 different countries.

Taught demographics, app sumo blasted us and took us to another level.

Continued to grow month after month;

The best way to get onto the app sumo platform

They only run about 80 deals a year, but they have 2–3k applications a year

It’s an extremely hard platform to get onto

App Sumo Fan Group Lifetime Deals Group

Great to get feedback

If you get enough people to like the deal

App sumo sees the potential it’s much more likely to get on the app sumo platforms

Get signed up create a following, they are looking for a good software.

What was your experience being a consultant?

When launching the App Sumo platform, we had 18 months between the idea and the launch on the app sumo platform. I had to do consulting as it was the only way to pay the bills. Nachum couldn’t launch a new business because he had the Book Like a Boss platform so it would help several companies in their ability to have a name, branding, help come up with ideas and teach them how to raise money. 

How do you keep innovating as you keep going in 2018?

Everybody needs to know their core strengths. One of the skills that Nachum has is the ability to set himself apart as a visionary. It’s important to think years ahead and you’ve got to love being creative. 

When you’re an Entrepreneur you’ve got to learn and see where things are going. The real answer is keep innovating is to simply listen to your users. App Sumo has a group of over 2,000 people and they are very in tune with what their customers want and need. Customers are always the best people who say their ideas. 

There are two types of ideas. The first are ones you have on your public road map. These are things that the public is aware of. The second is are things you don’t tell anyone, some innovation you need to keep to yourself.

Book Like A Boss has gone things up its sleeve that’s going to blow people away in 6 months to 24 months and they thing that far aware. 

Lastly, be flexible. This is how companies like Netflix beat the big guys like Blockbusters. 

What advice would you have for Entrepreneurs who are looking to launch a venture into 2018? 

There are three things that are the core three things you need to know before starting a SaaS platform or any platform:

1.     Pain Point: You’ve got to solve a pain point that people are willing to pay for. 

2.     Your Team: Whatever your weaknesses are, you need to find a team that will compensate for these weaknesses. 

3.     Money: Depending on where you are, have a side hustle until you’re ready to leave something and work on it full time. When Nachum started Book Like A Boss, they all had side hustles to pay for the bills. Don’t jump into something with both feet first otherwise you’ll find yourself focusing on how you’re going to sustain yourself instead of how you’re going to keep the company going. 

 

 

 

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