In last week's post, we focused on some of the challenges that an Israeli company faces trying to break into the US market (it also should apply to other markets as well - but we chose to focus on the world's biggest IT market.)
The New York Times (on May 20, 2009) had an article on the Entrepreneurial Edge of Israeli companies. The article focuses on the goal of Israeli companies. They want to become global brands. The companies that achieve this goal from Israel are few and far between. The article mentions Check Point Software, Teva Pharmaceuticals and Amdocs, but for a country that produces the second largest number of start-ups, three is not a very large number.
What can we learn from the article that can help us achieve those goals?
1. The Israeli companies have to be seen as in the market for the long-term, but today Israeli companies are seen as just people with great ideas. Israelis need to market themselves and the companies better. This will allow the US market to see the companies, not just as acquisition fodder, but as viable brands to buy products from.
2. The article makes a point of stating that Israel and the US have two distinct strengths. The Israeli companies are good at innovation, but American managers are good with strategy and scale. By joining the best of both worlds, companies can succeed.
Israelis need to learn the limitations of the local talent pool and to bring in the outside talent that can make them viable global brands.
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