November 19, 2018

Finance: One of the Worst Jewish Stereotypes

Photo from Flickr.

The idea that Jews are innately good with money is among the oldest Jewish stereotypes, one that continues to impact perceptions of Jews today. In China, books touting the supposed secrets of Jewish financial success have been best-sellers. Worldwide, anti-Semites have long railed against Jews’ purported control of international banking.

As with many stereotypes, this one has its origins in actual events. Jews long have been well-represented in the fields of finance and business. This is commonly attributed to the fact that, for centuries, Jews were excluded from professional guilds and denied the right to own land, forcing them to work as merchants and financiers.

However, some academics contend that the historical evidence does not support this thesis and that Jewish financial success is instead due to the community’s high literacy rates.

Whatever its causes, Jewish business and financial success has been a major driver of anti-Semitism.

Shakespeare’s Shylock character in “The Merchant of Venice,” a money lender who demands a pound of flesh from a debtor who defaulted, is among history’s best-known caricatures of the Jewish businessman. That caricature lent a sinister undertone of greed and exploitation to Jewish financial dealings that would be invoked to justify anti-Jewish measures for centuries.

Over time, the Jewish community evolved into a uniquely educated population, incentivized to abandon farming in favor of better-paying professions and businesses.

Despite his Jewish ancestry (his parents converted their family to Protestantism when he was a child), Karl Marx, the philosopher who first popularized the idea that capitalism is inherently exploitative, singled out Jews for their role in promoting it.

Supposed Jewish control of the global financial system was a major theme of Hitler’s war against European Jews, Father Coughlin’s anti-Semitic rants and the czarist forgery of “The Protocols of the Elders of Zion.”

Jews have been associated with moneylending for at least a millennium.

Medieval Christian theology held that charging interest (known as usury) was sinful, which kept many Christians from becoming financiers. The field thus came to be dominated by Jews.

The historian Howard Sachar has estimated that in the 18th century, “perhaps as many as three-fourths of the Jews in Central and Western Europe were limited to the precarious occupations of retail peddling, hawking, and ‘street banking,’ that is, moneylending.” This fed the notion among Christians that Jews were morally deficient, willing to engage in unethical business practices that decent people had rejected.

An alternative explanation holds that the Jewish penchant for finance is a result of Jewish emphasis on learning and literacy. In their 2012 book, “The Chosen Few: How Education Shaped Jewish History, 70-1492,” economists Maristella Botticini and Zvi Eckstein contended that, with the destruction of the ancient temples in Jerusalem and the beginning of the Jewish Diaspora, Jewish continuity suddenly became dependent on widespread religious literacy.

Those who educated themselves remained Jews. Those who did not, assimilated or converted to other faiths.

As moneylending evolved into institutionalized banking, Jews continued to occupy major positions in the financial world. Across Europe in the 18th and 19th centuries, Jews built influential banks, further feeding anti-Semitic conspiracy theories. With mass-Jewish immigration to the United States beginning in the late 19th and early 20th centuries, Jews assumed prominent positions in the growing financial center of New York, establishing Salomon Brothers, Lehman Brothers, Goldman Sachs and others.

They also figured prominently in government financial positions. Four of the past eight U.S. Treasury secretaries have been Jews. Three of the 12 presidents of the World Bank have been Jewish.

Running An Online Business From Your Smartphone

Everyone was excited when tablets burst onto the scene, but they’re becoming less popular now. It’s because you’ll be able to run your business from a smartphone. I’m guessing nobody thought this would be possible a few years ago.

Most people with a business will still own the main computer, but they’ll use a smartphone to do lots of little tasks. There is no doubt you’ll eventually start doing it too. It’s always easier when you know a few tricks, so we’re going to discuss some today.

Powerful Smartphones Are Superior


I know it sounds like the most obvious statement in the world, but powerful smartphones are superior. There is a reason why it’s important. An old model is still good enough to carry out most business tasks.

Look around for the best phone deals and pick up a newer model, because you’ll be able to do so much more. The camera will be so good you won’t need a proper one. It will have enough RAM to edit videos effortlessly.

You Need To Pick The Right Apps


You’ll be able to find apps in every category when you are shopping around. Inside every category, there will be a tremendous number of options. You shouldn’t choose the first one you see and stick with it.

Pick the right apps if you want to run your business properly. We all know they’re not very expensive to buy, but take time to carry out research anyway. It will be well worth it when you boost your profits.

Sending Everything To The Cloud


A huge difference between computers and smartphones is the storage space you’ll have available. You don’t want to run out of space on your phone, which could happen depending on what business you’re in.

Also, the cloud will save you from disaster if you lose your smartphone. It’s almost impossible to lose your home computer, but a device you carry around in your pocket is different. Don’t risk wasting your time on work only for it to vanish.

Software That Lives In The Cloud


Back in the day, you would have to download all the software onto your computer. In some cases, you’ll still have to do this. You won’t be able to use the downloadable software on your phone, but it’s nothing to worry about.

Most companies run their software from the cloud these days. It’s not just to help people who own smartphones. You’ll be able to use them on your phone, plus they might have mobile-friendly options.

Your Battery Will Eventually Die


Plug a computer into a socket and you won’t need to worry about power. When you’re using a phone you will always need to keep a watchful eye on how much juice you have left. You don’t need to live this way anymore.

You should grab a small external charger and keep it with you at all times. They’ll be able to keep your phone powered for days. You can keep working non-stop on the move until you have access to an outlet.

It Will Help Your Business Grow


You can only sit in front of a computer for a certain number of hours per day. Use your smartphone to carry out tasks and it will let you work even longer. In the end, your business will grow a lot faster.

Are You Ready to Meet Daymond John in LA? RISE and GRIND!

I cannot wait to meet Daymond John on Monday, January 29, 2018 at 8pm at LiveTalks. Did you get your ticket yet? He is on tour speaking about his brand new book, RISE and GRIND!

Daymond John Rise and Grind

What is the secret to success? How do you know your new idea will work out? The truth is no one knows if something new will be great but you can create a space where you are more likely to succeed. Daymond John shares how he has been able to stay focused on his goals and asks other entrepreneurs for their daily secrets.

Are you Ready to reach for success with RISE and GRIND?What do you do daily to Rise and Grind? Adopt a few strategies from the super star business people interviewed in this new book to turn 2018 into your Rock Star Year! Find out more about the 16 Powerful Stories to Help You Outperform, Outwork, And Outhustle Your Way to a More Successful and Rewarding Life in RISE and GRIND.

Daymond said: “We all get the same twenty-four hours a day, whether we have a million dollars in the bank or a hundred. This book is about how to put those hours to work for you, how to use them to outperform, outwork, and outhustle your way to the top.” This point really hit home with me. I decide where to put my energy and what I will focus on. I can spend my time creating success or being afraid that my plan will not work.

Each person has to choose: “If you want to succeed, you have to put in the work. Remember, these ultra-successful people get the same 1,440 minutes in every day as you do, and there’s plenty you can learn from how they use them…The dream is free. The hustle is sold separately.”

Are you Ready to reach for success with RISE and GRIND?

I found wisdom in Daymond’s SHARK Points from his book, The Power of Broke and I have been looking forward to learning his GRIND Points:

  • Get on it. Get moving.

  • Repeat. Build a meaningful routine and then stick to it.

  • Insist on your very best. Life isn’t what you accept, it’s what you negotiate.

  • Navigate.The key is navigating those larger journeys in life and moving with speed and precision, like a killer shark in the water. Keep our eyes on where we want to get to in life—our goals, our passions, our dreams—and keep moving in that direction with fury and purpose when necessary.

  • Desire, drive, determination to accomplish the outcomes they set out in front of them.

Are you Ready to reach for success with RISE and GRIND?

I found helpful suggestions from the personal stories shared by the entrepreneurs in this book but I especially liked when Daymond talked about his own issues with dyslexia and how more than 1 billion people on our planet live with some type of disability which is more than 15 percent of the world’s population. We all have challenges. We all have things to overcome. Are you willing to put in the work?

I have been working on my issues. In my late 40’s I finally dealt with an eye issue that was undiagnosed in my childhood. I believed that I was clumsy and not athletic and a terrible parallel parker. It turns out there is a reason that these thing which seem obvious and basic to others can feel nearly impossible to me. I literally did not see the same as other people. There was really no way for me to find the tetherball as it came around the pole. I thought I was incapable, it turns out I needed a different kind of help.

Are you Ready to reach for success with RISE and GRIND?As an entrepreneur, I need help as well. Figure out what will put you on the path and then do it. I nearly quit what felt like a million times during eye therapy but I did it and now I know I can accomplish anything. Daymond says: “The key to success comes in recognizing your own little extra something and finding a way for it to lift you instead of bring you down.” I know what I need to do and I am working on my steps and my daily eye exercises.

Daymond talked about recognizing “sometimes you just have to look back to appreciate how far you’ve come…When we’re out on our hero’s journey, and we achieve the reward we believe we’ve been seeking, that’s when we turn and see what it is we’ve accomplished, how far we’ve come.” On my journey, I am amazed with what I created in 2017. I look forward to building even more in 2018 and I will be using the tips from both of Daymond’s books: Power of Broke and Rise and Grind.

Are you Ready to reach for success with RISE and GRIND?I believe Daymond’s book is arriving at the perfect time. As he says, “A U.S. News & World Report poll shows that 80 percent of our resolutions fail by mid-February…remember, when you watched the ball drop on New Year’s Eve, you didn’t resolve to be like everyone else!” How will you keep motivated? I am going to keep reading inspiring books.

Each of the people in Daymond’s book are incredible. I wonder who will be your favorite?

Are you Ready to reach for success with RISE and GRIND?I loved learning about multiple–Grammy winner Carlos Santana’s practices and philosophies. He reads from his favorite books every morning and before bed. He frames his days this way because:

“It’s like when you get in the car, and you make sure the mirrors are all set. You check the driver-side mirror, the passenger-side mirror, the rearview mirror. You make sure they’re set just right for you, so you can see what’s coming from the back, from the left, from the right. It’s all aligned for you so you can protect yourself. What do they say when you’re learning to drive, that you should know what’s going on seven cars ahead of you, and seven cars behind you?”

How do you set your day or your car on the right road? As Daymond says: “We all have our hardships, our issues. For some of us, it’s abuse. For some, it’s poverty or lack of opportunity. For some, it’s learning or physical disabilities. The lesson I get from Carlos is that it’s how you rise above that hardship, how you get past your issues, that shapes you.”

Remember what Santana does: “wake up feeling thankful, and mindful, and joyful—because, hey, might as well greet the day with a song in your heart.” What choices will you make to fill your 86,400 seconds each day in a meaningful way?

Are you Ready to reach for success with RISE and GRIND?I loved when Daymond talks about his Shark Tank success stories. I have learned so much from the show and remember when he made a deal with Brittani and her dad, Al “Bubba” Baker—a thirteen-year veteran of the National Football League (and a three-time Pro Bowler!).

Bubba has said: “I WILL PERSIST until I succeed…You don’t just walk across the line and tackle the quarterback. The opportunities come when you least expect them, and you have to be moving in order to benefit from that opportunity. I had quite a few moves back when I was playing, and I’ve still got a few moves, and a lot of them came from guile and determination. We live by that in our family….Sometimes you can rise and grind, and rise and grind, and rise and grind, and just grind, grind, grind, and nothing happens. And then you have a breakthrough. But if you don’t grind, I can assure you, nothing’s going to go your way, because you haven’t lined yourself up for it.”

Hearing stories of the process it takes for other people to make it to the finish line and figure out their way is helpful because sometimes it looks like it is easy for others and hard for me. It is important to learn what it takes and to know that continuing to focus on my goals and RISE and GRIND will lead me to great accomplishments.

Daymond says there are three basic principles in all of the individuals he profiled in RISE and GRIND:

  1. They believe that what they do matters.

  2. They risk only as much as they can afford to lose.

  3. They focus on what they have, not what they don’t have.

“Success is not a destination to be found, it is an outcome to be made. We rise to the challenges and responsibilities in front of us, and grind to meet them.”

What things can does Daymond recommend to take care of yourself and put yourself in position to thrive? Here is what he found from all his interviews:

  • they work out on a regular basis—and most hit the gym first thing in the morning, before the day takes shape and time starts running on them . . . • they spend a portion of each day networking—only not in the most obvious ways . . . they keep connected, plugged in, but they’ve each developed a signature style, a way of keeping on top of their contacts that doesn’t feel forced—in other words, they’ve found a way to keep it genuine . . . • they take some time to expand their base of knowledge, to research their market, their customer base, their competitors . . . to stay on top of their business . . . • they set goals for themselves or for their business—writing them down, in a lot of cases, visualizing or internalizing them . . . • they meditate—got to say, I’m endlessly (and, happily) surprised at the number of successful people who find a way to mute the noise of the world, and calm the chaos all around, just to reconnect with their core and their sense of purpose . . . even if it’s only for a few blessed minutes . . . • they delegate—that is, they have come to depend on trusted people around them to help grow their games and scale their businesses, while also allowing them an extra measure of freedom to pursue other opportunities and occasionally step off that moving treadmill they rode to the top in the first place . . . successful people know which tasks to tackle themselves, and which ones to assign to folks who’ll see them through . . . • they have trained themselves to think like an attorney chasing his or her billable hours. What do I mean by that? They manage their time like someone else is paying them for it—which, I guess, they are—but the way that works out is they’re looking to fill their time in meaningful ways. Every chunk of time is accounted for, even if it’s set aside as downtime. Every phone call, every meeting, every strategy session . . . it’s all programmed into their calendars in such a way that they can stay on top of whatever it is they’re doing, whatever it is they’re about to do.

Daymond’s new book is a valuable resource for me. Get your copy today! I am looking forward to meeting Daymond in person in Los Angeles on his book tour! Thank you to Daymond and all the sharks for their show and their books. I have enjoyed them so much!
Lisa Niver, We Said Go Travel

Order your copy of Rise and Grind

Rise and Grind with Daymond John

This article first appeared on We Said Go Travel.

How Israel Is Setting the Pace in Global Sustainable Business Advances

At a recent conference held in Tel Aviv, several Israeli corporations gave presentations on the future of sustainability throughout the public, corporate, and private sectors, echoing the sentiments of the United States’ own Jim Bridgeforth President APG. As we advance further into the 21st Century, it is becoming increasingly clear that we must work harder to end our dependence on fossil fuels in the production of electricity. Not only will this benefit the planet we all share, but it will create a better economic climate for business growth.

A Comparison with U.S. Concerns


While Israel is recognized as a global leader in the movement towards a sustainable future, there are several U.S. concerns that are working diligently to offer choices in green energy to consumers around the country. Companies like American Power & Gas headquartered in Florida are making it possible for consumers to price gas and electricity from various providers, among which are those who pride themselves on advances in sustainable energy sources. It is the mission of APG to mirror efforts of Israel in the Middle East so that a more unified awakening can unfold. From large corporations such as Microsoft to Israel’s own Strauss, speakers explained the advantages and future of sustainable businesses around the globe. The focus of the conference was to better the lives of both employees and consumers and that is exactly the same mission as Jim Bridgeforth prides himself on as president of American Power & Gas.

It’s a Matter of Corporate Responsibility


What many companies aren’t aware of is that they have the largest generation of consumers to answer to. Millennials have surpassed Boomers in buying power and they demand corporate responsibility from businesses they deal with. Millennials are hugely concerned with sustainability going forward and as Israel is a global leader in this respect, they are a force to be studied. They, once again, have gotten the pulse of commerce and are paving the way for other countries to tie into the notion of corporate responsibility like Strauss in Israel and APG in the States.

Profits Across the Board


Not only can companies increase their customer base by focusing on sustainable solutions, but they can also profit from it as well. Sustainable energy can be much cheaper to manufacture and, as a result, can increase a company’s profit margin. In this light, Israel understands that sustainability is a multi-faceted benefit. Not only are we finding ways to halt the breakdown of the ozone layer, but we are seeking ways to fuel our industries at lower costs and higher profits. It’s a win-win situation all the way around.

Together with companies like Israel’s Strauss and the United States’ American Power and Gas, companies around the globe are beginning to seek solutions to the depletion of our natural resources. There will come a day that the only way to produce energy is through renewable sources and at that time, Israel will be seen as an early pioneer of sustainable solutions. More global conferences are needed, but in the meantime, Jim Bridgeforth is a voice filling the silence and Israel a light in the darkness, together they are leading global corporations on the path to a sustainable future.

How to Get Your Bootstrapped Business Off the Ground Fast

If you look at the job market right now it’s scary. Far too many people are struggling to find work. Even if they pick something up they’re usually overqualified. It’s why we’re seeing a large amount of Americans turning to entrepreneurship.

After all, it’s the land where dreams come true. There is only mistake everyone seems to make. They think it’s possible to bootstrap a business with zero money. It’s much easier when you’ve got a some, so we’re going to look at how to get a small amount fast.

Go Out and Get Yourself a Personal Loan


Taking out a loan to start a new venture is almost always a bad idea, but it’s okay when you’re bootstrapping a business. The amount you’ll need to get things off the ground will be pretty easy to pay back within a short amount of time.

Still, you shouldn’t just take anything you can find. Go out and find the best personal loan on the market. Only ask for what you actually need, which is enough to let you start making your first few sales.

Digging Into Your Bar Mitzvah Savings


If you’re still looking for your first job you might have money tucked away in a Bar Mitzvah account. Hopefully, you were lucky enough to have collected a nice little nest egg that has grown over the years.

Some people have taken their money and turned it into millions of dollars. Is there a good chance you’ll be able to do the same thing? It’s unlikely, but if you’re smart you can turn it into a full-time business.

You Can Start Selling Your Services


Maybe you want to build a productized service business but start by freelancing until you’re profitable. If you want to build a fitness eCommerce store you can offer online coaching to clients first.

The idea is to bring cash flow into the business as quickly as possible, which can be done instantly when you offer a service. After a while, you’ll be able to do what you had originally planned.

Sell All of Your Worthless Possessions


Everyone has a bucketload of worthless possessions in their home. They might be worth a lot of money, but they’re pointless if you don’t use them. You’ll need to bite the bullet and put them on eBay straight away.

I know it’s going to be tough, but you’ve got to remember one thing. Once your business is making lots of money you can buy them again. You’re more likely to become a minimalist and keep all your money in the bank.

You Might Need to Look for a Cofounder


You’re going to struggle if you want to build a software business without coding skills. It’s not easy teaching yourself from scratch. You won’t have the money to go out and hire a developer.

Bring on a technical co-founder and it will cost you equity, but at least they’ll be fully invested in the business. Your success will be tied to theirs. They’ll also be able to inject a bit of cash into the company.

Raise Money on a Crowdfunding Platform


If you think you have a good idea in your hands there is a good chance others will too. Crowdfunding platforms like Kickstarter give you the opportunity to test the theory. They’ll allow you to presell your product.

You’ll have to come up with a prototype, which doesn’t need to be complicated. Quality photos, a nice video, and the good copy will take you far. If you want to raise money you’ll need to do everything you can to get the word out too.

You Have the Ability to Build a Business


People get scared when they don’t even have enough dollars saved up to bootstrap a business. Follow the tips we’ve talked about today and you can’t fail. If you want to become an entrepreneur you better start learning how to solve problems.

Does it Make Sense to Finance Your Business With a Personal Loan?

If you start investing in your business, you can get some really good results. You get to afford more equipment, you can spend money on marketing and so on. But if you don’t have the money to start investing, then you have to opt for personal loans or business loans. And here begs the question, what works for you? Are personal loans better or should you opt for business loans?

Business loans


These loans are created specifically for companies that need more cash. This can be offered in a variety of ways. Plus, it can cover needs like growing in a new direction, getting a capital cushion or fixing a particular problem for that business. At the same time, personal loans can also be an amazing opportunity for a lot of companies.

Yet the challenge is that securing these loans will require a lot of time and effort. Financial companies will want to see whether your company qualifies or not. That can be very challenging and time-consuming. Not only that, but this will also end up bringing problems if you don’t repay your loan. Your company will suffer from that.

Basically, financial companies want to be certain that you can repay them. That’s why they will try to find a way to secure everything. The best method they can use in this regard is to study your business and see what you can deliver if you can afford the loan etc. Most lenders will only offer a business loan when they are certain your company can afford it. But they will study all the moving parts of your business until they share that loan.

Personal loans


While personal loans are most suitable for personal use, they can also be used for a business too. But you shouldn’t consider personal loans the best way to get money for your company. If anything, these loans will just offer you a way to cover some expenses. But they aren’t suitable for investments in any way.

Yet that’s how you should use the personal loans. The focus has to be on generating more exposure and bringing in a tremendous value and experience in the longer term. When you want to opt for personal loans that target business use, you have to make sure that the lender doesn’t connect the dots. Most lenders have different fees when it comes to these loans. So yes, you can end up with quite the hassle and challenge of something like this.

That’s why you can use personal loans for business use, but only in select circumstances. It’s not going to be a huge problem for most people, but it’s certainly one of those challenges that you may need to endure at times. Yet in the end, the thing which matters the most is that you get to have the right set of loans for your business. That’s the thing that matters and that’s where you can find value, in all of this and the benefits offered by such a loan. So yes, you should consider using personal loans for business situations, but be very careful!

5 Reasons Why You Can and Should Start Your Own Business

The fear of uncertainty or sometimes the statistic that four out of every five businesses fail in five years is what holds many back from starting their own business. It is not the thought of not being intelligent or competent enough. As with all human endeavors, learning how to manage a business successfully happens as you practice over time.

That’s why what you need to do first is to be sufficiently motivated to start and that is what will be shared here. The reasons for starting a new business are virtually the same whether you live in the America, Europe, Asia or Africa. Thereafter, you need to learn the basics of running and managing a business each day.

1. You can succeed in business because others are succeeding


It is quite easy to think that the developed nations have businesses run by executives who have masters in business administration. But nothing could be farther from the truth. In actual fact, about 99% of businesses in U.S. are small businesses with few employees and they provide employment for over 80 percent of the workforce. So you won’t need “special business” training to succeed in business. You need to have an idea of how to meet a need in a unique way. Then you back that up with a desire to learn quickly, take action and adapt to changes in the marketplace.

2. You can succeed in business when you do what you are passionate about


Starting a business is as simple as laying out your business idea, writing a good business plan and getting your startup capital. With the increasing number of funding sources available, you will find it easier to get a lender that offers small business loans. Just make sure you start with a lean business model that does not require you to buy up large inventory or acquire very expensive machines and office space at the beginning.

3. You can succeed even if you start the business from home


The data from the Small Business Administration (SBA) reveals that 52% of the small businesses in the U.S. are home-based. Also, 22 million of the 28 million small businesses in the country are run by people who see themselves as self-employed. They don’t have any employees and so they don’t need to pay anyone on their payroll.

4. Running a business offers you tax benefits


Whether you have a business with a few employees or you are a freelancer, you can stillbusibn enjoy tax benefits. Based on the kind of business you register, you can write off some of your expenses including telephone bills, food, travel and some parts of your car loan repayments. Depending on the kind of business you are running, you may even enjoy different kinds of government incentives. If you are not sure about the kind of business you should register, you need to speak to your accountant about the type of tax benefits you are qualified for.

5. You are free to use your time the way you want


Running your own business allows you to do what you like, how you like it and when you like it. You will have a chance to give yourself to the things that have to mean and add value to things that matter to you. As a small business owner, you have the liberty to use some of your profit to promote a noble course in your community. Also, when you need to relax, you can take a trip to any part of the world you want.

Those are some of the reasons why you can start a new business and succeed. Instead of hesitating, why don’t you take steps toward becoming a business owner today?

Top 4 Reasons to Provide Health Benefits to Your Employees

Business owners understand the importance of hiring the right people for their operations. One of the ways that you attract attention from the right people is to provide benefit packages they will find helpful. Among those benefits, it’s important to provide some sort of health plan. Here are four of the main reasons that health coverage will be good for you, your business, and your employees.

Healthy Employees Don’t Miss Work Days


Access to Benecaid employee medical benefits is not just about having protections that leave the covered individual with little to no out of pocket medical costs. It’s also about being able to utilize proactive approaches to remaining healthy. An employee who is able to have regular checkups and receive care that reduces the potential of becoming ill has a better chance of remaining healthy. That translates into taking fewer sick days per the calendar year. That’s good news for you since it means tasks assigned to individual employees will not have to wait until they get back to work or be redistributed to other employees who already have full agendas.

Improved Morale


Benefits of all types send a message that the company values the employees. Few convey this sentiment better than providing medical coverage. Even small business owners have come to realize what a difference this makes to the people who work for them. Those small group health benefits mean all the more when the employees know that there are limited funds for benefits and the employer chose to put their welfare ahead of making more profit.

Reduction of Turnover


Employees who are happy don’t tend to stray. Instead, they choose to remain with the company, keep contributing to its success, and do their best to help the organization run smoothly. Providing health coverage is one of the ways to keep those employees happy.

Consider the amount of investment it takes to hire, train, and mentor a new employee, keeping the ones you already have certainly allows you to make better use of company resources. It also makes it easier to cultivate a positive corporate culture that motivates people to stay when there is little in the way of turnover.

Enhance Your Company’s Reputation


Hopefully, your company is growing. That means you will need additional employees over time. If your business has a reputation of caring for the employees, you can rest assured that more qualified applicants will show up in hopes of filling those new positions. If the benefits you offer include a reasonable health plan, expect your company’s standing to be more positive among those who are looking for a great place to work.

If you don’t provide health benefits to your employees now, it’s time to make a chance. Look into different types of health plans and find one that is a good fit. The investment will pay off in more ways than you thought possible.

4 Practical Things You Can Do During a Business Jet Charter Flight

There is a time when taking a commercial flight for a business appointment just won’t do. The client wants to see you face to face as quickly as possible and that means finding a way to start the trip now instead of in a few days. Choosing to reserve a charter flight is the only approach that makes sense. While you are in the air, use the time to get ready for the meeting. Here are a few suggestions on how to make the travel time productive.

Go Over Your Presentation


You already have a presentation that includes the basics of what you will discuss with the client. What it lacks is a little customization. You want to make the information specific to your client. After you settle onto the private jet charter and the craft is in the air, start going through the presentation and tweak it a little for the meeting. You can add in data that is specifically relevant to your client, rearrange some of the data, and in general use your general presentation as the template for a customized product.

Prepare Documents to Share


Along with the formal presentation, there are some other documents you will want to prepare. Now is a great time to take one of your boilerplate contracts and adapt it for your client. You can also use the time to prepare tear sheets that can be handed out to everyone who will be attending the meeting.

In your mind, go through every step of the meeting agenda. Identify what sort of documents would be helpful to share at each stage and create something you can hand out. It will be easy enough to print everything out once you arrive at your destination.

Discuss Meeting Strategy


If you are traveling with another person from your company, the time spent on the business jet can also be used to go over the strategy for the meeting. Who will handle what part of the presentation? Would it be helpful to designate one person to hand out documents while the discussion continues? Using what you know about the client’s corporate culture, make sure the way the two of you interact during the meeting taps into that culture and presents your company in the best possible light.

Get Some Rest


When everything is prepared and you have a solid approach planned, use the rest of the flight to rest. A nap during the flight will help you feel refreshed by the time you are on the ground again. That’s especially important if the plan is to go straight from the airport to your meeting with the client.

Charter flights are a wonderful resource that can help you get to a client quickly and take care of whatever matter has arisen. Use your time en route wisely and it will be easier to walk into that meeting looking confident, prepared, and ready to meet whatever needs the client has expressed.

5 Great Ideas for Using the Money from a Merchant Cash Advance

You have some ideas for taking your company to the next level, but an infusion of cash is needed. You could look into options for small business loans or you could make use of a strategy that does not involve keeping up with one more payment each month. That strategy is known as a merchant cash advance. Here are five ways you could put the money from the advance to good use.

Invest in New Equipment


Staying competitive means determining if replacing some older pieces of equipment would make your operation more efficient. If so, you can use the money from the cash advance to buy and install whatever is needed. The increased efficiency allows you to accomplish more while consuming fewer resources. As a result, your operational costs are lowered. Over time, that will improve the net profit generated by the business.

Fund the Development of a New Product


Thanks to consumer feedback, you have an idea for a new product that is sure to appeal to your clientele. The only thing is that you need an infusion of cash to turn the idea into reality. You could check private small business loans and determine if they would work, but you can also utilize a merchant advance. The latter allows you to repay the debt with easier terms. You also don’t have to keep up with making payments, since the merchant keeps an agreed upon percentage of every card transaction that your business processes.

Launch a New Advertising Campaign


Expanding your client base typically means tapping into sections of the consumer market where you have less than a stellar audience. A new ad campaign would help you continue to build in the sectors where your business already has a reputation and help attract attention from new ones. Finance the effort with a merchant advance and the campaign is paid for up front. You’ll barely notice the minimal amounts the merchant keeps and be surprised at how your increased business volume allows you to repay the merchant faster than expected.

Make Improvements at Your Place of Business


If your business is open to the public, it may be time to improve the looks of the place. An advance will make it possible to invest in new furnishings and other elements to make those public areas more appealing. A welcoming setting will go a long way toward motivating customers to keep coming back.

Consolidate Other Debts


The bookkeeping would be simpler if you had fewer debts. Depending on the repayment terms associated with the advance, you could use the money to consolidate debts with higher rates of interest. Along with retiring the debts faster, you also improve the business credit score and save money over the long term.

If you have an idea for making a good thing better, look into the idea of a Thinking Capital merchant cash advance today. It could be the solution you’ve been seeking for a long time.

5 Recent Technology Updates that Could Affect Your Business

There is no question that in this day and age technology and business go hand and hand, which is why it is important for businesses of all sizes to stay up-to-date with recent technology changes and updates.

This past week saw 5 major newsworthy tech headlines that are sure to impact businesses across the globe. Continue reading below to find out more about the hottest tech events happening at this very moment.

New iPhone’s Effect on Laptops and PC’s


The new iPhone is looking to replace desktops and laptops. It has a lot more features than the previous version and now sports an OLED screen, has virtual reality capabilities, faster processing speeds, and greater storage capacity. Users can now perform the same functions they used on their desktops and laptops, only now in a smaller format.

This, however, may not be good for businesses. The greater capacity in a smaller package may be good for casual users, but business people need their computing devices to be large enough to read.

In order for personnel to work on spreadsheets and other documents, their devices are going to have to be bigger than a hand-held screen. The smaller size won’t assist business people with analyzing or inputting data if they can’t read what it is.

Ikea/Apple Home App


Ikea Place” is an augmented reality home-design app that runs on the new virtual reality compatible iPhone X. Ikea customers will now be able to do a virtual interior design of their homes with furniture by accessing this app on their iPhone. They will see what it will look like before they ever spend a dime. Pretty cool stuff.

These new augmented reality apps are going to be important assets for businesses in the future, but especially for those businesses that provide services. For instance, landscapers and roofers will be able to show the finished product to their customers before ever starting the project.

A.I. Financial Advisor


The fintech startup Pefin has recently designed an artificial intelligence financial advisor system that will give personalized financial advice using customer feedback and machine learning. The advice is designed to be accessed online, via chatroom, so the customer never has to leave the comfort of their home.

Whether businesses like it or not, A.I. is here. This is but just one example of the capabilities machines have to offer businesses. It is already known that robots can perform tasks faster, cheaper and more accurately than humans. This recent example is verification that machines can also give human advice as well. Will computers and machines totally replace human workers in the future? Only time will tell.

Microsoft Guest Access Software


The Microsoft Teams software is currently used by more than 100,000 businesses and organizations worldwide. It now offers guest access that allows companies to not only collaborate internally but externally as well.

Since most companies use Microsoft Office in some form or another, the new Teams software can be easily implemented in most business environments.

The ability to join groups throughout the organization, as well as throughout the world, will help cut down on time delays and provide more effective communication among staff.

Multiple Cloud Server Systems


A recent tech survey stated that nearly 50% of professionals use multiple cloud vendors to perform business tasks. The survey also stated that the most popular cloud vendors among tech professionals at the moment include Amazon Web Services and Azure.

Using multiple cloud servers is a good idea for companies using large amounts of data. While companies like Amazon and Azure are most certainly trustworthy, one can never know what the future holds. A solid data-protection strategy requires not putting all one’s eggs into one basket but diversify them throughout multiple cloud servers.

Companies offering NBN plans can also be found offering everything from Private IP Networks, Cloud Computing, Virtual Hosting, Co-Location and Managed Services, Dedicated Hosting and even Domain Names. Everything from tech startups to cable companies is getting in on the Cloud as a Service business it seems.

5 Inexpensive Ways To Help You Fund A Brand New Business

Photo from Pexels.

Everyone knows jobs are less secure now than they’ve ever been before. In a few years, most of them will be replaced by robots. It’s going to leave a large percentage of the population in trouble, but there is one way to eliminate any problems.

It’s possible to start your own business and nobody will be able to fire you. The only hard part is coming up with enough money to get started. It used to be a lot more expensive, but it’s still not free. Here are a few good options available to you.

1. Get An Unsecured Business Loan


It might be wise to look at unsecured business loans for a couple of reasons. You’ll be under less pressure because nobody will be able to take your home away, which will make you more productive.

You’ll also have less money to work with and it will prevent you from spending it needlessly. You should know it’s much cheaper to start your own venture than it was a couple of decades ago.

2. Build Some Things Yourself


In the tech world, they talk a lot about minimum viable products. It’s basically a product that isn’t quite complete, but it’s enough to get started. This principle can be used in any kind of business.

Let’s say you needed to build a website for your new company. Don’t hire someone to build you an expensive fancy one. Spend a few days learning how to create one yourself that’s capable of getting the job done.

3. Learn How To Negotiate Properly


A business might sell something for a certain price, but it’s hardly ever set in stone. You’ll need to get into the habit of negotiating for everything, which you can learn by reading books.

With a little practice, you’ll become an expert in the art of getting discounts. The money you save on anything related to your new business will come in extremely useful for things like marketing.

4. Focus On A Few Specific Things


Large companies don’t start out offering every service in the world. It sometimes takes decades until they reach that stage. If your business offers lots of services it will increase your expenses.

Start by offering a couple of things at the most. When you have fewer areas to focus on you’ll spend less money in so many ways. Let your business grow over time as you begin to bring in more money.

5. Secondhand Furniture And Appliances


Nobody would expect you to buy a secondhand mattress, but you shouldn’t be scared of other used items. You can easily build most of your business by buying secondhand furniture and appliances.

Do you really think anyone is going to care it’s not brand new? Once your business is profitable you can splurge on more expensive things. In the early days look for deals wherever you can find them.

You’ll Be Ecstatic In A Few Years


The first couple of years will be hard, but you’ll be ecstatic once the money starts rolling in. You will worry a lot less about everything being snatched away from you because you’ll be in control of your own destiny.

HR Done Right: Understanding Your Business’s HR Functions

Employees are always a company’s biggest assets. The growth of your business depends on the effectiveness of your employees, as well as your company’s human resource management. Many Israeli companies, especially the more successful corporations, have relied on this approach for years. Small and medium-sized businesses are now following suit.

Thanks to third-party solutions and cloud-based systems, gaining access to the best HR resources and tools is now easier than ever. Before you start browsing through the available solutions in search for a suitable one for your business, however, it is important that you understand the HR functions that must be fulfilled.



At the top of the list of HR functions, we have recruitment. This is the most basic HR function that every business must utilize in order to construct a strong team. Before you can start growing your business with the support of employees and team members, you must first find suitable team members to recruit.

The recruitment process is further divided into two stages: talent acquisition and onboarding. The latter is a crucial process that must not be skipped, especially if you want team members to understand the internal cultures and be a part of the business from day one.

Learning, Performance, and Benefit Management


The next part of the process is tracking employees as they work for the business. Since employees are your biggest assets, you need to take a more active role in helping them grow with the business. This means providing employees with suitable training that will help them expand their skills and perform better in real life.

Next, employees must be kept in check. There are systems designed to help establish the most suitable performance management for your business. Every type of business is different, so you want to have a performance management solution that works well based on the employees you have, the operations you’re dealing with, and other specific challenges.

For the performance monitoring system to work, an extra layer is also needed. That layer is benefited management. All systems, from basic benefits to promotions and bonuses, are all great instruments that can be used to help employees stay motivated and effective in their roles.

You have systems such as SAP SuccessFactors HR and Dayforce HCM with all the instruments you need to manage these HR functions. Visit to find out more about the available HR solutions for the job.

General HR Functions


Aside from the specific functions, it is also necessary to put general HR management functions in place. This type of functions tracks your employees from hire to termination. It provides a more detailed look at the employee’s journey in the company and helps you keep a comprehensive record of every part of that journey.

A supporting system with general HR functions is useful for tasks such as evaluating your company’s HR management as a whole. You can’t expect to recruit better team members and improve your business’s HR management without learning from past mistakes. Now that you have the instruments to help you, it is time to start looking at the available options and review the best HR management solutions for your business.

Challah Hub seizes opportunities

Why have plain old challah on Shabbat when you could enjoy braided bread in a variety of fun flavors: mint chocolate chip, s’mores, pumpkin white chocolate chip, lavender chocolate or “challahpeno” cheese?

No reason at all, thanks to Challah Hub (, a one-stop resource for recipes, instructional challah-braiding videos and more. 

“It’s really not that hard to make challah, and we want to make it more accessible,” explained co-founder Sarah Klegman, 28.

The enterprise got its start about three years ago when Klegman — who has been baking ever since she was tall enough to reach the counter — met Elina Tilipman, 32, at a brunch and began showing off photographs of her challahs. Tilipman told Klegman she would buy her meal on the condition that she taught Tilipman how to bake. 

The partnership kicked off with nothing more than an Instagram account filled with photos of the pair’s crazy creations — Klegman calls it “challah porn.” More than 7,500 people now follow the account, and they’re treated to pictures ranging from rainbow-colored challah to vegan pretzel challah to challah shaped to resemble Bernie Sanders’ face.

Eventually, Challah Hub grew into a website offering recipes, tasting events and baking classes. There was even a one-day-only partnership with UberEATS during which Uber drivers delivered challahs to people’s doors.  

Challah Hub sells tote bags, challah covers and vanilla-scented Shabbat candles on its website, which also features how-to videos on making challah dough and braiding technique. One of the next steps, the founders hope, will be to launch a full-fledged baking and delivery service in which customers can sign up for a subscription and receive challahs at their homes before Shabbat begins every Friday. 

“We want to be able to deliver to everybody in Los Angeles and be able to deliver a very reliably tasty and enjoyable challah experience,” said Klegman of Valley Village.

Raised in northern Michigan, Klegman moved to Los Angeles to pursue a career in the entertainment industry. She represented local talent, with a focus on comedians. Somewhere along the line, she tired of the industry and decided to devote more of her energy to her passion: baking. 

She credits her mother with teaching her the ways of the kitchen. While the tagline for the company is “Not Your Mama’s Challah,” Klegman admits that Challah Hub’s original recipe was her mother’s own. 

“I always say, ‘Don’t worry, Mom, I’ll tell people when I have the opportunity that it was my mama’s challah,’ ” Klegman said.

For Klegman, baking challah is a way of expressing her pride in Jewish culture. She grew up as one of the few Jews at her school in Michigan and she was picked on by other students until her mother, who always was an avid challah baker, came into the school and delivered presentations about World War II history, anti-Semitism and the civil rights movement.

“She’s given me a good amount of passion for challah and pride for my culture,” Klegman said.

The organized Jewish world has taken notice. This year, ROI Community, an initiative of the Charles and Lynn Schusterman Foundation, provided Challah Hub with a $1,000 micro-grant to help redesign its website. In a blog post published six months ago on the ROI website, Tilipman, who lives in Toluca Lake, said the ROI grant was a crucial step in helping Challah Hub become a more serious venture. 

“The step from hobby to business is a big one, and this grant was the bridge we needed,” Tilipman said. 

Challah Hub does not have its own kitchen space and does not offer a way for people to purchase their challahs — yet. Instead, the founders have used friends’ kitchen spaces and their focus has been making themselves more visible in the community. 

In June, they participated in the Los Angeles Bread Festival at Grand Central Market, where they led a challah-braiding workshop. In collaboration with the gang member rehabilitation organization Homeboy Industries, which operates a bakery as a means of employing its clients, they also served up carob chip challah and sesame seed challah to the crowd until the bread was sold out.

And this past spring, after Passover, Challah Hub participated in “A Post-Passover Carb Party,” the NuRoots-organized event that also included Yeastie Boys Bagels, a food truck that promotes its bagels with hip-hop-inspired branding. 

While Klegman told the Journal she is more interested in launching a food delivery service than she is in operating a brick-and-mortar bakery, Tilipman wrote in the blog published on the ROI website that she dreams of opening a Challah Hub bakery one day. 

“A Challah Hub bakery, can you imagine?” said Tilipman, who is The Jewish Federation of Greater Los Angeles’ assistant director for the NuRoots Community Fellowship on the East Side of L.A.

Regardless of how they decide to expand, one thing is for sure: The women behind Challah Hub are passionate about what they do.

“We love making challah and putting it in people’s faces,” Klegman said. “And we’ve been lucky that enough people still eat carbs for us to keep going.”

As London prices climb, Manchester beckons Jews from far and near

When Yitzchak Horwitz’s family opened one of the first Jewish businesses in this leafy suburb of Manchester — a bookstore that also sold Judaica items — it served a small Jewish community that had only recently moved there from the downtown area.

“The center was run-down after the war, living conditions deteriorated, we had to get out,” said Horwitz, a man in his 80s who runs and owns the Judaica World store that his family opened here in 1960. “A few Jewish families, a small synagogue and that was pretty much it.”

Nevertheless, Horwitz stuck it out. And half a century later, his business is among dozens of Jewish shops servicing thousands of people from the Jewish community of the Manchester area, some 200 miles north of London. Now this community is among the fastest growing in Western Europe, providing Horwitz income from selling Jewish and Hebrew holy books, textbooks and stationery.

At a time when many Jewish communities outside London are dwindling, the one in the Manchester area is growing almost beyond its own capacity due to the high birthrate of its haredi Orthodox nucleus and an influx of Jewish newcomers. The latter is drawn here by the excellent infrastructure for observant Jews and a cost of living that is roughly half that of pricey London.

“People in London seem to think they earn loads more money,” said Selena Myers, a Liverpool-born observant Jewish in her 20s who works at a local Jewish newspaper. Four years ago she moved from London to Manchester, where she lives with her husband. “In fact, the cost of living is maybe three times higher than in Manchester,” whereas the salaries are not. London, she said, “doesn’t make financial sense.”

London is the world’s most expensive city in which to live and work, according to a study published in March by the Savills international real-estate agency. Accommodation for the average Londoner – calculated as a total of housing and office rental costs – comes to $105,000 a year, putting London ahead of New York ($103,000) and Hong Kong ($96,800).

A view of Manchester’s Victoria train station. (Wikimedia Commons)

Not only is renting in Manchester half the cost of what it is in London, but the average price of a home in the greater Manchester area is $144,000 – a full fifth of the average price in London.

Cost of living is especially important for Orthodox families with many children, like that of Simon Rudich, a Rome-born property investor and lawyer who has raised eight children in Manchester with his British wife.

“If you want to live in England as an observant Jew, which I do, then you have two main options: London or Manchester,” said Rudich. “But you only have one sensible option, which is the one I took.”

The only downside to living in Manchester, he said, “is living without sunshine.” Manchester gets 256 rainy days annually and 34 inches of precipitation – respectively 30 and 21 percent more than London.

When the sun does shine, however, Prestwich is bustling with activity by Jews of all denominations. It has five kosher supermarkets near its center. One features a sushi bar where customers line up for freshly prepared glatt kosher rolls.

There are clothing shops catering to the modest standards of observant women, several kosher butchers, a vegetable shop with exotic produce like gooseberries and mangos from Israel, and a French-style kosher patisserie.

According to a 2011 census by the Institute for Jewish Policy Research, greater Manchester in the previous decade saw a 15 percent growth in its Jewish population, to 25,013. Conversely, the city of Manchester itself lost 463 Jews. It is home to Britain’s second largest Jewish population after London, where most of the country’s 250,000 Jews live.

In Manchester, as elsewhere in Western Europe, Jewish families that once lived in middle- and working-class areas of the city have moved into the suburbs, partly to improve their quality of life. Another reason for moving has been the arrival of poorer African and Arab immigrants to neighborhoods that often saw an uptick in crime and, more recently, anti-Semitic harassment.

“I chose Manchester because I’m from South Africa,” said Dianna Schwartz, an observant mother of four. She immigrated five years ago to Prestwich from Cape Town because of what she described as “a deteriorating security situation after 1994,” the year apartheid ended.

“I can’t live in a London apartment, I need space and green. That’s how I grew up,” she said. “But getting that in a part of London that is near a proper Jewish school is just impossible for us.”

Manchester’s Jewish influx has left its 12 or so Jewish schools and kindergartens in need of more space and staff, which has helped generate work, particularly for women.

“When I first moved here, people immediately assumed I was a teacher,” said Myers, the newspaper office worker. “They’d ask me straight away where I teach.”

While Manchester remains significantly cheaper than London, the influx is nonetheless driving up prices and creating a housing shortage in the city’s heavily Jewish areas.

“You’re already seeing new Jewish presence in areas around Prestwich, which used to have no Jews in the past,” Myers said.

Manchester is not the only affordable city in northern Britain with an active Jewish community; Liverpool, Leeds and Bristol all have them. Yet Manchester emerged as the largest because it retained an observant and haredi nucleus, which over time produced community institutions that cemented it as the epicenter of Jewish life outside London, according to Rabbi Hillel Royde of the Manchester Beth Din, or rabbinical court.

Thus Manchester is the only city in northern England with a large haredi school. Myers and her siblings attended school in Manchester for that reason even when they were living in Liverpool, she said.

British lawmaker Luciana Berger meeting members of the Jewish Representative Council of the Manchester area, May 8, 2016. (Courtesy of the Jewish Representative Council of Greater Manchester and Region)

This inbound traffic is “creating some problems that are nice to have, but they are nonetheless problems,” Royde said.

His rabbinical court is one of the community’s main tools for solving those problems. Established in 1902, when heavy industry attracted thousands of Jewish immigrants from Europe to the area, the court served 30 butcher shops, supervising ritual slaughter across the region.

Over time it has taken over kashrut supervision for the large food producers in the Manchester area, including the cereal giant Kellogg’s. Supervision fees from such companies are invested back into the community and used to open new schools and fund projects that make Manchester even more attractive for observant Jews — like setting up eruvs, symbolic boundaries that allow observant Jews to carry objects on Shabbat.

In 2014, the Manchester suburbs became the site of Britain’s largest eruv, a 13-mile perimeter that includes Prestwich, Crumpsall and Higher Broughton. Without an eruv, haredi families with children would effectively go into weekend curfews. But setting them up is an expensive and complex process that requires city permits and installing braces, strings and poles to discreetly cordon off the area. Work is ongoing on another eruv in the Manchester suburb of Hale.

These improvements have made life easier for thousands of haredi Jews and are attracting thousands more. And that is changing the nature of a community that, according to Myers, is losing its middle ground.

“Nowadays it’s either you’re very observant or almost not at all,” she said. “It didn’t used to be like that.”

YULA grad pioneers new way to move money to Israel

Joseph Sokol is used to reactions of disbelief when he sits down with technology industry bigwigs to pitch his startup, OlehPay, a payments website that enables users to inexpensively transfer dollars to Israeli bank accounts in the form of shekels.

“So you work for them?” they ask the lanky, yarmulke-clad 20-year-old. “You’re an intern? What’s your role? Who runs it?”

Sokol simply grins at their incredulity and informs them that it is, in fact, he who runs the startup, essentially by himself.

The company was born in March out of a problem Sokol himself faced. After graduating from YULA Boys High School on West Pico Boulevard, he moved to Jerusalem to study at a yeshiva, Machon Meir. After being “packed like sardines” into a single bedroom with five other students, he said he and a roommate decided to move out, but found that he couldn’t pay his rent without withdrawing a wad of cash from an ATM at a lousy exchange rate. 

No service seemed to exist that solved the problem for him, a fact he attributes to a de facto oligopoly on banking in Israel.

Sokol thought if he was having this issue, there must be plenty of American olim — immigrants to Israel — dealing with the same thing. OlehPay ( seeks to solve that problem.

Here’s how it works: After creating an account with your email and password, you enter the amount you want to pay in shekels, followed by your billing information and the bank account number of the recipient, along with his or her name and bank branch. 

Press a button, and the order is placed: The appropriate dollar amount is drawn from your bank account or credit card and shows up in the recipient’s account in shekels. The service charges a 1.99 percent fee on credit card transactions but is free for debit cards and never charges recipients.

Sokol alleges to be able to beat the individual rate consumers get from financial institutions. The front page of the OlehPay website offers a calculator for how much users can save against the bank rate by using it.

Nowadays, Sokol bounces back and forth between Los Angeles and Jerusalem, where he works out of the office of Forex Israel, the payments company that processes OlehPay transactions. He speaks conversational Hebrew and fluent startup-ese, gracefully conjugating terms of the trade, such as “use case” and “API” (application program interface). 

The company is his foot in the door of what he says is a growth industry — online payments — pointing to a number of companies that have blossomed in that space, including PayPal and Square, a mobile device plug-in that takes credit card payments. As a sign of the ascendancy of the financial technology space, even Facebook has crafted a feature enabling users to pay one another via its messaging service.

So far, nearly $80,000 has passed through Sokol’s service from about 150 user accounts. While much of that sum comes from the types of use he imagined — large, recurring payments such as rent or mortgage — some people have begun using OlehPay to contract with Israeli professionals, like lawyers or software developers, from the United States, he said.

Sokol said that although he’s already received requests to branch out to pounds and other currencies, he won’t be expanding until he feels the service is on solid footing.

Part of the formula of his success is that by looking at the company’s slick website, one would be hard-pressed to finger OlehPay as the brainchild of a 20-year-old who went AWOL from college — after studying a year in Israel, Sokol spent a semester at UC Santa Barbara before deciding it wasn’t his scene. (“I like to think I’m autodidactic,” he explained.)

The web interface is sleek and touts a partnership with the popular Israeli online messaging board for English-speaking services,, where users can pay for work using OlehPay. 

Despite his youth, Sokol is not an amateur in the world of entrepreneurship. At 14, he started a woodworking camp in his backyard in Beverlywood, where he says he taught more than a dozen teenagers how to use a hammer. 

Then, before starting OlehPay, he and a partner he met in yeshiva sold a Hebrew learning application for $15,000, an experience he said provided him with the enthusiasm, connections and starting capital to launch his current venture.

Likewise, he sees OlehPay as a launching pad for bigger and better things. 

“This is absolutely not where I’m going to stop,” he said. “Especially since I sort of gave up my college education for this.”

Mark Zuckerberg is the world’s richest member of the tribe

Mark Zuckerberg is the sixth richest person in the world, and the richest Jew, after accumulating more wealth than anyone else in the past year.

Eleven of the 50 richest people in the world are Jewish, according to the 30th annual Forbes billionaires list released Tuesday. The list features five Jews in the top 15 and seven in the top 25.

Zuckerberg, 31, added $11.2 billion to his net wealth, giving him a total fortune of $44.6 billion and moving him up to No. 6 on the list from No. 16 last year. The surge sends the Facebook founder past last year’s richest Jew, Oracle CEO Larry Ellison, and runner-up, former New York City Mayor Michael Bloomberg.

Ellison is the seventh richest person overall with a net worth of $43.6 billion, and Bloomberg is No. 8 with $40 billion. Ellison’s net worth dropped over $10 billion, from $54.2 billion last year, while Bloomberg’s wealth increased from about $35.5 billion.

Zuckerberg, who is still one of the youngest billionaires, announced last December that he and his wife, Priscilla Chan, will donate 99 percent of their shares in the social media company over the course of their lifetimes.

Google co-founders Larry Page and Sergey Brin are Nos. 12 and 13 on the list with $35.2 billion and $34.4 billion, respectively.

Sheldon Adelson, the casino magnate and influential Republican donor, saw his wealth drop to $25.2 billion from $31.4 billion last year, falling to No. 22 on the list.

Hedge fund manager George Soros ($24.9 billion), Dell founder and CEO Michael Dell ($19.8 billion), Brazilian-Jewish banker Joseph Safra ($17.2 billion), investor Carl Icahn ($17 billion) and hedge fund manager James Simons ($15.5 billion) are the other Jews in the top 50.

While Jewish women are far outnumbered by their male counterparts, several are billionaires, including Israeli businesswoman Shari Arison ($3.9 billion), Pritzker family scion Karen Pritzker ($3.8 billion), Lynn Schusterman ($3.4 billion), Joan Tisch ($3.3 billion) and Gap co-founder Doris Fisher ($2.6 billion).

Sheryl Sandberg makes the cut with a net worth of $1.2 billion. The influential Facebook COO and “Lean In” author donated about $31 million of Facebook stock to multiple charities earlier this year.

The non-Jewish Bill Gates remains at the top of the list — where he has been for the past three years, and 17 of the past 22 — with a net worth of $75 billion.

Forbes found 1,810 billionaires worldwide, down from the 1,826 a year ago.

A millennial in the modern business world

While still in her 20s, L.A. native Elana Joelle Hendler had already fulfilled one of her dreams: She created a successful luxury lifestyle business, EJH Brands, based on her artwork. Hendler produces candles, home décor accessories and wildlife-themed art prints that have drawn accolades from Forbes (“10 Companies Crushing it in Art and Fashion”), Los Angeles Business Journal (“20 in their 20s”), FOX News and other media outlets.

The starting point for Hendler, now 30, was her longstanding passion for making art. The Milken Community Schools alumna creates her images in striking black and white. “My art has never been about color. … [A]rt started for me as a child doodling shapes in my notebook with pencil or pen,” she said. “I think I was subconsciously exploring how shapes relate to each other [on] a two-dimensional surface and finding a sense of movement between those shapes. Art was always a personal exploration for me.”

Although some of the animals depicted on her canvases are not native to Southern California, Hendler said they are nonetheless inspired by her “experience of growing up in Southern California.” From her many visits to the San Diego Zoo to family trips to the beach, Palm Springs and Arrowhead, she was inspired by the variety of landscapes and wildlife she encountered, as well as learning about culture at local institutions such as LACMA and The Getty.

“There’s something eternally fresh and inspiring about learning to appreciate art and nature in Southern California,” Hendler said. “I try to reflect that in my work, which extends to the eco-friendly materials used in my products. … I like to think there is a natural flow of the artwork into the texture of the materials. My collection is an extension of my exploring what it means to be a Californian.”

Chimp Decorative Throw Pillow 

Hendler said her family and Jewish upbringing helped her find her path from among her many interests, which included acting, music and, later, art history, in which she earned her degree. 

“All of my upbringing has influenced my identity as an artist as well as my identity as a woman, a Jew and a Californian,” she said. “My mother’s parents — who are of European descent and immigrated first to Mexico and then to Los Angeles in the 1950s — brought their cultural heritage with them. My [maternal] grandmother, a concert pianist in the 1940s, brought music. My [maternal] grandfather, an engineer, entrepreneur and religious Jew, brought education and a love for learning. These roots, emphasizing bettering yourself through knowledge and asking many questions, [were] bolstered by the nurturing influence of my mother, who studied design at UCLA.”  

Hendler’s family encouraged her natural curiosity; she described her younger self as a creative, expressive person who could do many things. But, she said, it was difficult for her to “pick one specific thing, in fear of isolating or losing track of the other skills.” At 24, like many other millennials, she asked herself, “Now what?”

“I come from a very entrepreneurial family. Following my grandfather’s lead, I asked myself … if I could pull together my interests and talent to create something that is mine. I then realized I still very much love to draw and write, and those interests transitioned into creating my own brand.”

Signature Collection Eucalyptus & Mint Sage Candle.

Hendler knew that building her own business would not be easy. “It was a moment when I had to be brave, and I just went for it,” she said. “This meant allowing myself to be vulnerable, learn, try and make lots of mistakes. One of my biggest challenges was learning how to work with manufacturers. It’s not always easy for a friendly, eager 24-year-old to work with older, more experienced manufacturers, especially men. I am sure I was taken advantage of in areas like pricing, but I was sort of expecting that to happen.”

Sassy shirts fit Jewish hipsters to a ‘T’

Shiran Teitelbaum was out running errands recently when a random guy stopped her.

“He asked, ‘Are you Jewish?’ And he said he is, too,” she recalled.

Teitelbaum shouldn’t have been surprised, given that, at the time, she was wearing a white sleeveless top with the words “Shvitz It Out” written in bold, black letters.

It’s one of a series of T-shirts she has created with her friend Alice Blastorah as part of their clothing business, Unkosher Market. Other edgy designs that mix Yiddish with a dash of sass include “Kiss My Tuchis” and “Matzah Ballin.’ ”

“I feel like the shirts are cheeky and transgressive,” Teitelbaum said. “There’s something about it that’s not kosher. It’s straddling a line.” 

The shirts were inspired when one of her closest friends converted to Judaism last summer, and Teitelbaum threw her what she called a “Jewchella” party. Unlike Coachella, the epic music festival in Indio, this was a small affair: a half-dozen girlfriends and a menu of bagels and cream cheese. Teitelbaum and Blastorah also brought handmade T-shirts for all of the guests, each with a unique Jewish message, such as “Not in the Tribe But Dig the Vibe.” The shirts were so popular that the pair thought they might be on to something.

Teitelbaum, 29, who is Jewish and grew up in Agoura Hills, and Blastorah, 27, a Toronto native who recently moved to Los Angeles and is not Jewish, weren’t necessarily looking to start a business. They both have full-time jobs on the Westside with a large advertising agency, where the two are creative partners — Teitelbaum is a copy editor, Blastorah is an art director.

But according to Teitelbaum, “In advertising, everyone has a side project. And if they don’t have a side project, they are thinking about side projects. In the end, it makes you a better creative.” 

In fact, she and Blastorah had tossed around ideas in the past, such as funny wine labels. But when the Jewchella party guests — all in their 20s and dressed in white muscle shirts with hand-cut sleeves — posted pictures of themselves on social media, people started asking where they could get the shirts. It was too much enthusiasm to ignore.

Shortly after, Unkosher Market opened a shop on Etsy, the online retailer specializing in artisan clothing and gifts, adding new slogans,  including “Vodka + Latkes ” and “Totes Koshe,” as in, totally kosher.

“[The shirts] did well,” Teitelbaum said. “Every week I would sell a handful of them.” 

But the shirts weren’t premade, and fulfilling orders was a pain. Plus, the pair thought they could improve on the shirts’ design and quality. So they closed the Etsy shop and reconvened. 

They found a local private label vendor who would produce the shirts in Los Angeles exactly as they wanted them, in prewashed jersey cotton. (The company’s website boasts that the fabric is “sewn in Los Angeles with 100% cotton and 100% chutzpah.”) They also took on a third partner, Glenn Feldman, 60, a Toronto-based attorney who happens to be close friends with Teitelbaum’s dad, former journalist Sheldon Teitelbaum, and who was an early fan of the designs.

Now that Unkosher Market has been relaunched, it has about 1,400 followers on Instagram, and the number is growing. Teitelbaum tries to keep the page fresh with new tag lines like, “WWLDD What Would Larry David Do?” and “You Are The Bamba To My Bissli.” The latter refers to two popular Israeli snack foods and is immediately familiar to anyone who has spent time in the Holy Land. (Teitelbaum, whose mom is Israeli, spent many summers as a kid with relatives in Holon, near Tel Aviv.) 

According to Teitelbaum, orders are coming in from New York, Indianapolis and Texas, to name a few. At $48 a pop, the shirts aren’t cheap, but having them made locally means paying a bit more, Teitelbaum explained. And they arrive in the mail ready for gifting, wrapped in crisp black tissue paper with an Unkosher Market thank-you note insert.

Right now, the only place to purchase the shirts is online at, but
Teitelbaum and Blastorah are talking to several boutiques in Los Angeles, New York and Toronto about carrying them. 

They’re also planning designs for new audiences. “Next is baby,” Teitelbaum said. Think matching shirts for mother and child or, for example, “Snip Snip Hooray” for the bris boy.  

Teitelbaum even reported getting requests for designs with three-quarter-length sleeves from some potential Orthodox customers. Sweaters are a more likely possibility that could satisfy that fan base in the future, she said.

Ultimately, Teitelbaum said, the business is trying to target people who, like her, identify as cultural Jews. 

“For me, [Judaism] is being raised in a Jewish family,” she said. “It’s not going to synagogue. It’s not a religious thing at all.” 

So when, for example, you click on the “Totes Koshe” design on the website, you get this message: “It’s Shabbat. You’ve decided to stay in and pig out on challah while binge watching Larry David. Now that’s Totes Koshe.” 

The shirts are “loud and proud,” she said. “But they are funny, which makes them seem like you are being sassy a bit. We are trying to make shirts that younger Jews identify with and show that they are proud of their heritage. Because there are not a lot of brands that do it in a way that’s cool.”

Krazy for Kosher Kurls

Davida Lampkin Tydings knows hair. She likes to boast, “Hair has been a passion of mine since I was born. I tell people I cut my own umbilical cord because that’s the art that God gave me.” 

A licensed hairdresser in New York and Los Angeles who worked in film and television for years, she channeled that love five years ago into a business venture: Kosher Kurls, a company based in Vernon that sells sulfate-free shampoo, everyday deep conditioner and leave-in conditioner (“schmear”). Lampkin Tydings said she got the idea after a friend started a hair-care-products company for biracial people. 

Despite the name and the Hebrew-style lettering on the packaging, Kosher Kurls is good for all hairstyles — curly and straight, according to Lampkin Tydings, 63. She said it can be used on payot and sheitels, too.

The bottles go a step further, claiming the products are for “Reform, Conservative, Orthodox, Chassidic, Reconstructionist, Ashkenazi, Sephardic, Black or White Jews,” and that it “leaves your hair looking and feeling like a Mensch!” 

Lampkin Tydings of Encino said she uses the product on her own locks. “This takes my waves, and the more you smush it, the more it curls,” she said.

But she stressed the product is not only for her people. 

“I say you don’t have to be Jewish to love Kosher Kurls. People who are Italian, Catholic, etc., say they use it,” said Lampkin Tydings, who tells a joke a minute, throwing in Yiddish words and Jewish puns whenever possible.

Some don’t even care how the products work on their hair; they buy it for the kitsch value. “Some people read the bottle, and they go, ‘Oh my gosh, this is so funny. I have to have it, and I don’t even care if it works.’ I say to them that I hope it does work,” Lampkin Tydings said.

The hair products can be found in several grocery stores, including Ralphs, Cambridge Farms and Western Kosher, as well as the Karen Michelle boutique in Pico-Robertson. 

Lampkin Tydings said that, unlike hairspray or certain kinds of mousse, Kosher Kurls doesn’t give hair a crunchy feel. “What makes our product different from the others is it’s soft to the touch. It controls the frizz and defines the curls. When you touch your hair after using Kosher Kurls, it’s nice and soft. Mousse and hairspray make it stiff.”

“I like my latkes crispy, but I like my hair soft,” she added.

Maxine Berger, a hairdresser of 38 years who works at the Butterfly Loft in Encino, said she uses Kosher Kurls on her clients. “It’s good for styling and blowdrying, and it makes the curls curl nicer. It smoothes the hair, too,” she said.

Kosher Kurls is not Lampkin Tydings’ first entrepreneurial venture. She’s also the brain behind the Matzahman doll, a Passover toy that sings and dances. Thirty-five years ago, she established Davida Aprons, which sells the doll, along with other Judaism-centric housewares, apparel and religious items. There are kippot covered in bagels, hats that say, “Chai is good” and a baby bib with the phrase, “Future Mah Jongg Player.” Matzahmania, the collection of matzah-emblazoned merchandise that she sells, includes everything from yarmulkes to boxer shorts.

“People have labeled me the queen of Judaica,” Lampkin Tydings said. 

She ran Davida Aprons for many years with her mother, Pauline S. Lampkin, before she died, as well as her sister, Sybil Lampkin Rubin. Her mother is forever immortalized in the Matzahman — it plays a recording of her 93-year-old voice singing an original Craig Taubman song to the melody of “Dayenu.” 


Gene Simmons: Rock god turned business tycoon

Gene Simmons has made a career out of doing a lot with a little. 

His band, KISS, featured members with little or no formal musical training but went on to become one of the nation’s biggest rock acts. Growing up in Haifa, he sold cactus fruit to workers at a local bus stop to help his struggling mother.  And, more recently, the mundane everyday activities of his family were at the center of a reality show, “Gene Simmons Family Jewels,” which had a six-season run. 

Now, Simmons has taken a simple concept — namely, work hard — and turned it into a book. “Me, Inc.: Build an Army of One, Unleash Your Inner Rock God, Win in Life, and Business” is a brash guide for the budding entrepreneur from a man whose band has sold more than “100 million CDs and DVDs worldwide and manages over 3,000 licensed merchandise items,” according to publicity materials, and who is worth, according to various websites, an estimated $300 million. 

The book, which was published in October by Dey Street Books, targets the wannabe Generation Y entrepreneur who is looking for guidance from an accessible voice. It is also for the casual reader who may not be interested in business advice but wants insight into the mind of an entertainment icon. Either way, the book is an enjoyable, if slightly redundant read, and it shows how Simmons is the embodiment of the classic American immigrant success story.

“Though I was born in Israel, I can tell you that it’s America that has become the Promised Land,” Simmons, 65, writes in the book’s preface. 

Simmons, born Chaim Witz, emigrated from Israel to the United States at the age of 8. He learned the language, worked a variety of jobs and eventually changed his name when he decided his ambition was to be in a rock band, noticing there were very few in that field with the last name Witz.   

“I didn’t take it personally. I recognized the facts. I realized that Robert Zimmerman had turned himself into Bob Dylan. That Marc Bolan from T. Rex had been born Mark Feld. And that Leslie West from Mountain had originally been known as Leslie Weinstein,” he writes. “They all reinvented themselves, changing their names, and their images along the way.” 

Equipped with just a bass guitar and a genius business instinct, Simmons, with the help of Paul Stanley, who is also Jewish, founded KISS in 1973. The band made the decision to manage itself and, although the members didn’t have the chops of, say, The Beatles, they had larger-than-life ambition and outside-the-box ideas: They wore elaborate face makeup on stage, oversaw a KISS movie (“Detroit Rock City”), and inspired action figures, comic books and more. 

Simmons, who lives in Los Angeles, relays all this as he blends advice with memoir. He describes his 1980s courtship with Shannon Tweed, a model-actress who became his wife in 2011. He fell hard for her, he writes, after dating the likes of Cher at the age of 29, and later, Diana Ross. (Cher was Simmons’ first girlfriend because, as Simmons advises his reader, success should come before love.) 

His relationship with Tweed has been a source of some of Simmons’ few failures — at least, as he tells it. Simmons admits he was not always faithful to Tweed, and berates himself in the book for his infidelities. 

Nonetheless, the book is mostly filled with Simmons’ glories. In addition to his Hall of Fame music career, Simmons also has a restaurant chain, an Arena Football League team (the L.A. Kiss), a record company and more. 

For a man worth so much money, Simmons proves surprisingly in sync with the everyman. In one chapter, he writes about the benefits of working at home and how cutting down on commute times is an important part of the journey toward realizing one’s dreams.  

Other tips are more brutal and discomfiting. At one point, he advises his reader to have self-confidence so extreme that it verges on the delusional, such as to only be friends with more successful people, and to avoid vacation days and down times at all costs. He cites the likes of Steve Jobs, Donald Trump and Richard Branson as people who are among his role models in the business world.

“Have a killer instinct,” he writes. “I still do. And I don’t have to. I would, arguably, make a living without trying very hard at this point. My bills are paid. I don’t have to write this book, or be in a rock band, or be partners in all the companies I’ve mentioned. Why do it? 

“Because I’m a champion. I pride myself not only on what I’ve achieved, but on what I dream of achieving. I refuse to sit on my thumb all day and talk about yesterday. That’s for wimps. I’m a today and tomorrow person … YOU first. Everyone else second.”   

Simmons makes it clear early on that what he says is only his opinion and the reader can take it or leave it. But there is enough here, especially Simmons’ words for recent college graduates — or, perhaps, for Simmons’ own two children, Nick and Sophie, who are in their 20s — that rings poignant and true:

“In the real world, once you grow up and Mom or Dad isn’t there to bail you out of trouble, there is no one there to help. And there will be no one there to force YOU to lead a smart life. And an economical life. And have a lifelong business plan,” he writes. “YOU will have to do that for yourself. But here’s the good news: YOU will get all the rewards. And take heed, regardless of your age: it’s never too late to get started. It’s never too late to get started NOW.” 

A realtor with Knack

Sharona Alperin “sold” her first home while still in her late teens. 

At the time, Alperin was several years away from gaining her Realtor’s license, and both the circumstances and the client were a bit unique. Doug Fieger, the lead singer of the rock group the Knack, was looking for a home base in Los Angeles. While actual Realtors searched for listings, Alperin was the one who showed more than a dozen properties. 

She had what might be considered a stronger-than-average interest in this process. Alperin was Fieger’s girlfriend, and they were planning on living in it together. (That never happened — there were issues with the house and then they ended up breaking up — but she is that Sharona, the one immortalized in the Knack’s 1979 No. 1 song, “My Sharona.”)

Picture, then, a young woman in denim, sunglasses and a black motorcycle jacket being picked up by real estate professionals and driven around to million-dollar homes. Even as a teenager, the yeshiva-educated Alperin had a talent for going room to room and conveying a property’s possibilities.

“I grew up in sales,” said Alperin, who now lives by Hancock Park. “I was in my father’s furniture showroom when I was 13 and 14. I sold clothes [on Third Street as a high-schooler]. And it wasn’t just that I had the art of selling. I think I had an affinity for architecture, for a house being a home.”

The Realtors who accompanied her noticed Alperin’s skill and urged her to consider home sales as a career. She agreed, eventually falling under the mentorship of Alan Long, founding partner of Dalton, Brown & Long Realtors, which later became DBL Realtors. More than two decades later, she is routinely one of the top-selling agents for Sotheby’s International Realty, which acquired DBL in 2004. A few times a year, she teaches a training class titled “Sharona’s Street Smarts.”

“Everything has changed,” she said, “except the true soul of real estate, which is finding a home.”   

One of the basic tenets of being a successful Realtor, she says, is the ability to listen to your clients, to hear what they want rather than to impose your vision upon them. 

“Sometimes as an agent, we’re there to facilitate and to open their minds to possibilities, but we need to hear what they’re really asking for, what they’re identifying with and what’s really important,” she said.

When not out in the field, she can be found at Sotheby’s Sunset Strip office or through the Web site Not only was she the namesake of the hit written by Fieger and Knack guitarist Berton Averre, but her image — wearing a white tank-top and jeans and clutching the album “Get the Knack” — adorns the single’s cover. Through the song’s longevity, her name has become her professional calling card. 

“I want to say 90 percent of my life over the last 30 plus years, when I say my name, someone says, ‘Oh like ‘My Sharona’? Even if they don’t say it, I can tell in my head that they’re humming it,” Alperin said. “I don’t always say, ‘Yes, that’s me. I’m “My Sharona.” ’ I don’t always engage, but many, many times, of course, I do.”

Many of Alperin’s clients are celebrities, and her experience with Fieger and in the rock world helped her get in tune with the unique needs of her clientele. Perhaps a client may need a special media room, a secluded backyard or extensive space for entertaining. Privacy can be needed as well. 

“We can have paparazzi issues,” Alperin said. “I could be showing a property on the Sunset Strip, and in the final moments, security comes up and points out a building on Sunset that could be looking into the bedroom or yard and it nixes the whole thing. Some very famous clients may need an egress gate in the back or a way of getting from their garage into their house without having to walk through the front door. They all have different needs, and not just the stars.”

The daughter of Marvin and Miriam Alperin, she grew up near the Fairfax District. Educated at Hillel Hebrew Academy, she jokes that she followed the usual path of a young Jewish girl, going from yeshiva to sites around the world for four years with a rock ’n’ roll band.   

Now married to Jason Aizenberg and the mother of 14-year old Eden and 10-year-old Adam, Alperin still loves to travel, but maintains, “I live and breathe real estate.”

Is Israel pulling down the shutters for business?

High-tech entrepreneur Eyal Waldman decided he had had enough of Israeli investors when they told him to choose between his titles of chairman and chief executive at the company he co-founded, Mellanox Technologies.

So in August, Waldman delisted the chip designer – Tel Aviv Stock Exchange's sixth-largest company, with a market value at the time of 6 billion shekels ($1.7 billion) – dealing a heavy blow to an ailing bourse that had already seen its chief executive and chairman resign a month earlier.

Waldman said the attitude of Israeli institutional investors, who had been empowered by changes to the Securities Law, was suffocating.

“Mellanox is not an impulsive company. (Delisting) is something we were thinking of, that we saw build up. This was not our place any more,” he told Reuters.

Since Mellanox delisted, a handful of Tel Aviv's largest companies have threatened to follow suit unless Israel becomes more business friendly.

The problem is the result of both more regulation and less.

Over the past decade, Israel has relaxed rules on overseas investments. Previously, Israeli pensions had to invest nearly 100 percent at home; now they can invest without limitation abroad. At the same time, over the past year the government has introduced securities regulations that Israeli companies complain make doing business far harder, including more stringent reporting requirements, pushing even more money out of the country.

The new regulations and other measures were an effort to help consumers and protect investors. Competition was subdued by the domination of a handful of conglomerates in the mobile phone, retail, construction and petrol distribution sectors, and consumers were struggling to keep up with bills.

In 2011, hundreds of young Israelis, angry they could not afford housing and bitter about the high price of groceries, set up a tent city in the heart of Tel Aviv's financial district and for weeks refused to move. This culminated in the largest demonstration in Israel's history, with 400,000 people demanding a more affordable cost of living.

Prime Minister Benjamin Netanyahu reacted with a plan to break up the conglomerates that controlled vast swathes of the economy, opened up markets to competition and forced service providers to cut consumer fees.

The new regulations have brought consumers some relief – lower cell-phone bills and banking fees – but many investors and businesses say it is at a cost of dwindling profits and depressed share prices.

What upset Waldman most were amendments to the Securities Law that he could not have foreseen when he listed his company on TASE in 2007, several months after its offering on Nasdaq.

He was troubled by the empowerment of minority institutional investors, who previously had little influence at the companies in which they invested. New rules require majority approval by minority shareholders for issues such as executive salaries.


Officials at some of Israel's biggest firms have said that, like Mellanox, they are nearing a tipping point.

Potash producer Israel Chemicals (ICL), the most traded company on TASE, is seeking to list overseas. Though it has no intention at present to delist from Tel Aviv, CEO Stefan Borgas said in a conference call: “ICL must act seriously and take into account a situation of an additional worsening in the business climate of the Tel Aviv bourse.”

The same goes for Nice Systems, whose products analyze video and big data.

“It makes much more sense for us to trade only on Nasdaq,” CEO Zeevi Bregman told the Globes financial newspaper, but made clear a delisting was not on the agenda at this time.

Such talk has scared off investors. Daily trading volume on TASE averages around 1 billion shekels, 47 percent of the level in 2010. Other markets have had more moderate drops; since 2010 trade in London has fallen to 80 percent, on Nasdaq to 77 percent and Tokyo to 79 percent.

Only three small IPOs have taken place in Tel Aviv since late 2011, while about 100 firms, roughly 15 percent, have delisted since the end of 2009.

Investors are not pleased; one public relations firm, on behalf of clients, has launched a Facebook page called SaveTASE, blaming Israel's securities regulator, Shmuel Hauser, for the bourse's woes.

Part of the drop in volume followed a 2011 upgrade in Israel's status on the MSCI index from emerging market to developed. The move led to an exodus of passive money from foreign investors tied to the emerging market index.

Foreigners now account for only about 15 percent of trade on TASE in 2013, compared with up to 25 percent in 2010.

But the real drain has been the money that Israeli institutions have withdrawn as restrictions on overseas investments were lifted over the past decade.

“We are in the process of increasing our investment out of Israel, and this process … still has, in my opinion, a long way to go,” said Amir Hessel, chief investment officer of Harel Insurance and Finance, Israel's third-largest insurer.

Harel's pension, provident and life insurance funds have invested 34 percent of their 102 billion shekels in assets under management and 60 percent of their equities portfolio abroad, up from zero a decade ago.

Nir Moroz, CEO of Clal Amitim pension fund, said as much as 30 percent of his fund's assets were abroad, and that could hit 40-50 percent in the next few years due to a dearth of new local issuance.

Bank of Israel data shows pension funds hold 22 percent of their assets abroad, nearly double the level of 2009, while insurance funds hold 27 percent overseas.


The protests of 2011 ushered in a flood of regulation that hurt profits in almost every sector – from cellular operators and food makers to institutional investors and gas producers.

Israel's three top mobile phone operators posted an average drop of 71 percent in net profit in the second quarter of 2013 compared with three years earlier, before new regulation and competition kicked in.

“There is a big risk of making business and investing in Israeli companies because of regulation,” said one investment manager who asked not to be named.

Hauser disputes that regulations alone have harmed the markets. Much of the regulation, he told Reuters, was aimed at curbing abuse of power by large stakeholders in companies at the expense of minority holders.

However, he said “the wave of regulation since the 2008 crisis may have gone too far”. He has proposed lowering the capital gains tax to 15 percent from 25, reducing fees for trading and clearing, and trading foreign currency.

With the public's cause taken up by the media, Hauser said it has become “illegitimate” to be rich these days, adding: “We have to stop with this populist atmosphere.”

Among the hardest hit by the new environment has been Israel Chemicals, which has made controlling shareholder Idan Ofer one of Israel's richest people.

ICL, which has an exclusive permit to extract minerals from the Dead Sea, paid 1.2 billion shekels in 2012 in taxes and royalties. A year after ICL reached a deal to double royalty payments to 10 percent, Finance Minister Yair Lapid, a former TV personality who rode the social protest to political power, set up a panel to review once more the level of royalties paid.

CEO Borgas said ICL was worried about the “extraordinary level of uncertainty” in the business environment that the committee's appointment has created.

“Our international shareholders acknowledge this at every encounter,” Borgas told Reuters in an email, adding that this was reflected in ICL's share price, which fell over 15 percent in reaction to the committee's establishment.

Its shares were also hit when Canada's Potash Corp in April abandoned efforts to take over ICL because of strong political opposition in Israel.

Borgas, a former CEO of Swiss chemicals group Lonza, said he was concerned by the scope of regulation and the way it was conducted in what seems to be a response to populism.

“In the current situation we have a negative incentive to invest in Israel,” he said.

Israel's economy relies heavily on foreign investment and, like many countries, it provides grants and tax breaks to attract companies.

Teva Pharmaceutical Industries, Israel's largest company and the world's biggest generic drugmaker, reaped close to 12 billion shekels in tax breaks between 2006 and 2011, according to the Tax Authority. It has come under huge pressure in recent weeks to review plans to shed 10 percent of its global workforce as part of a cost-cutting plan.

ICL was next at 2.2 billion shekels, followed By Check Point Software at 1.65 billion.

When these figures were published by the media in July, the public response was scathing.

Lapid has said he would reexamine the policy, but companies say the benefits are dwarfed by the jobs they provide and the money they contribute to the economy.

“Without this policy a lot of companies would have less business here and would pay less taxes,” Check Point CEO Gil Shwed told reporters in July.

Editing by Will Waterman

Comverse in Israel has new round of layoffs

Comverse let go of dozens of workers in Israel in a new round of layoffs.

The layoffs this week were announced a month ago. Hundreds of workers had been let go previously by Comverse, according to Ynet.

The company, which develops and markets telecommunications software, was founded in Israel and is now based in the United States.

Several leading companies in Israel, notably Teva and Gottex, announced sizable layoffs in recent weeks.

Earlier this month, the Israeli pharmaceutical giant Teva said it was layingof f  5,000 employees worldwide, including 800 in Israel. The Israel layoffs were  frozen pending an agreement between the company and the Histadrut labor federation.

Israel provides Teva with major tax breaks, which were threatened by the layoffs.

Gottex, a fashion and swimwear manufacturer, is laying off dozens of employees as part of an announced restructuring, according to Ynet.

Haifa-based Oil Refineries said last week that it will let go of  nearly 250 employees and ECI began laying off up to 300 workers — one quarter of its staff in Israel — in September, Ynet reported.

Tel Aviv eyeing way to let businesses open on Sabbath

The Tel Aviv-Jaffa municipality is working to change a city by-law that bans businesses from opening on the Jewish Sabbath.

City officials told the Israeli Supreme Court late Tuesday night that the municipality would not fine businesses that until now have opened consistently on Saturday.

In June, the court ordered the Tel Aviv-Jaffa municipality to enforce a by-law that bans its businesses from opening on Saturday.

On Tuesday, the municipality said it would fine new businesses that open on Saturday in contravention of the law. The by-law also will be enforced against businesses that disturb the public order.

At the same time, Tel Aviv Mayor Ron Huldai asked the city’s attorney to create an amendment to the by-law that “enables the existence of a day of rest alongside each resident’s freedom to enjoy it as he or she sees fit,” Haaretz reported.

The high court justices ruled in June that the municipality and two large supermarket chains violated the municipal bylaw against opening on the Jewish Sabbath. The court suggested the city could change the by-law to allow businesses to remain open on Saturday.

The owners of the small shops claimed they were losing customers to the chains that could afford to remain open on Saturday and absorb the modest fines levied for their transgression.

The justices also suggested that the municipality continuously violated the by-law in order to collect the fines.

Google buys Israel’s Waze to protect mobile maps lead

Google Inc bought Israeli mapping startup Waze on Tuesday for an undisclosed sum, acquiring an online real-time mapping service to safeguard its own lead in one of the most crucial aspects of smartphone usage.

A source close to the matter told Reuters on Monday that the Internet search leader was putting the finishing touches on a deal to take over the company for $1.3 billion. Google said in a Tuesday blog post that it had closed the deal and now planned on using Waze's service to enhance its own Maps product, but did not say how much it paid.

Maps and navigation services have become vital for technology companies as consumers adopt smartphones and other mobile devices. Waze uses satellite signals from members' smartphones to generate maps and traffic data, which it then shares with other users, offering real-time traffic info.

Waze's product development team will remain in Israel and operate separately for now, Google said. Eventually, its service will enhance the U.S. company's Maps app, while the core Waze product itself will benefit from integrating Google-search capabilities.

“Imagine if you could see real-time traffic updates from friends and fellow travelers ahead of you, calling out 'fender bender…totally stuck in left lane! and showing faster routes that others are taking,” Google Geo Vice President Brian McClendon wrote in his blogpost.

Four-year-old Waze, which has 47 million users, has raised $67 million in funding to date from firms including: Kleiner Perkins Caufield & Byers, Blue Run Ventures and semiconductor company Qualcomm Inc. Facebook Inc was, at one point, an interested buyer, according to media reports.

Reporting by Edwin Chan; Editing by Gerald E. McCormick and Leslie Gevirtz

PartyWorks Interactive Eric Elkaim’s party line

In a world of cutthroat businesses, Eric Elkaim still believes the “more you give, the more you receive.”

As the founder of Los Angeles-based party vendor PartyWorks Interactive, which rents out premium rides, games, entertainment and attractions to companies and individuals hosting special events, Elkaim has put that conviction into practice for nearly 20 years. 

Some of Elkaim’s high-profile clients include Vans Shoes, Virgin Airlines and Six Flags theme parks, as well as venues such as the Rose Bowl and Santa Anita Park. PartyWorks provides inflatable rides, sports courts, stages, live bands, arcade games, rock-climbing walls and much more for everything from corporate parties to conventions to premieres. Ditto for families throwing large-scale bar or bat mitzvahs. 

When PartyWorks isn’t supplying equipment to lavish events, the company is often working pro-bono for organizations that don’t have the resources of PartyWorks’ big-name clients. 

Foothill Unity Center, a Monrovia community organization that distributes food and provides services to very low-income families, is one of the recipients of Elkaim’s generosity. 

Throughout the year, the organization sponsors community events, including a Thanksgiving food distribution, a holiday food drive and a back-to-school drive. Thousands of people attend these events, and PartyWorks helps Foothill Unity make these events fun and exciting for attendees, donating tables, staging, lighting, giant menorahs, oversized chairs for Santa, and dance floors. 

PartyWorks also provides supplies and services that are less flashy, but just as important, such as a bouncer to help with line control as well as air-conditioning units. 

“Money’s not everything, and to seek a smile and give something at no cost, something they can’t afford, is an amazing feeling,” said Elkaim, 49.

Elkaim has been donating party and event supplies to Foothill Unity for more than 15 years and he never asks for compensation, “just because it’s a good cause.” He calls Foothill Unity one of the most important organizations that he assists, but there are many others. 

Elkaim’s PartyWorks began as a single popcorn-making machine. He founded the company in 1989 after years spent as a teenage performer around Los Angeles, working as a magician who incorporated comedy into his act during gigs at the Magic Castle, a nightclub for magicians and magic enthusiasts. Soon the people booking him asked if he could hire another magician to join him. 

Sure, he said. He could do that. 

Soon they were asking if he could bring along a face painter or a clown. Again, he said that he could.

Before he knew it, people were calling Elkaim to book entertainment for their events, including carnival booths and rides. He purchased his first popcorn machine and hasn’t looked back since.

A resident of Glendora, he isn’t your typical corporate head. In many ways, he still behaves like an entertainer. In fact, his professional title at PartyWorks is “director of all things outrageous!” 

True to his roots, Elkaim combines comedy with his professional life. In 2010, when he organized Mitzvahs and More, a bar mitzvah trade show that the Jewish Journal sponsored, he had radio station KLOS 95.5 FM air a humorous and Jewy plug for the event:

“At…the world’s largest bar and bat mitzvah expo, you’ll learn everything you need to know in order to party until you plotz.”

But perhaps more important to him than having fun is developing relationships — not just because these relationships are good business but because they come in handy for giving back to the community. 

Elkaim said he is particularly interested in helping soldiers and children. That is why PartyWorks donates resources to Soldiers’ Angels, which provides aid and comfort to members of the U.S. military, veterans and their families. 

In 2008, Elkaim used his connections in the entertainment industry to bring popular alternative rock band Angels and Airwaves to perform at a party that Soldiers’ Angels threw for wounded American soldiers who were recovering at the Brooke Army Medical Center in San Antonio. And motivated by research that shows that playing guitar can help wounded soldiers suffering from post-traumatic stress disorder improve their memory, he worked with Gibson guitars to provide free instruments to wounded warriors.

Echoes of Hope, which provides assistance to at-risk and emancipated foster youth, is another beneficiary of PartyWorks’ goodwill. Founded by retired Los Angeles Kings hockey player Luc Robitaille, the nonprofit hosts annual celebrity no-limit Texas Hold’em tournaments to raise money and awareness for the plight of the youths it serves. Elkaim happily donates poker tables and other casino supplies to these tournaments. 

Other acts of generosity are more spontaneous. Sometimes, community organizations and nonprofits hosting events call to inquire how much it would cost to rent certain party equipment, and Elkaim simply offers it for free. 

A lot of his desire to be altruistic comes from being Jewish, he said. 

As he has gotten older, he said, “I started to believe in the Jewish way of thinking in giving anonymously. A true giver is somebody who doesn’t give to get their name on stuff as a sponsor. We do it because we want to.”

Scraping the sky in upscale Tel Aviv

As Yigal Zemah, CEO of Berggruen Residential, stands on the seventh floor of the new Meier-on-Rothschild skyscraper set in the epicenter of Tel Aviv at 36 Rothschild Blvd., a wide smile crosses his face. The luxurious new building slated for completion in 2014 will be the tallest residential tower in the city and, Zemah says with pride, of the absolute highest building and luxury standards currently available inside and out. Although the project represents the tallest residential building in Tel Aviv, Zemah says the original guidelines in the business plan were simple: to build only the best.

“We wanted to do something different and in order to do that we wanted to build something of the highest quality possible with the most sought-after architects in the best location and with the nicest interiors,” he explains. As soon as internationally acclaimed architect Richard Meier agreed to design the building, potential buyers began to call.

As of late summer, 60 percent of the building has already been sold with a ratio of about half foreign and half Israeli buyers. Among the high-profile first investors are financier Nathaniel Rothschild; Eyal Waldman, co-founder and CEO of Mellanox; Lior Reitblatt, CEO of Super-Pharm; and advertising agency executives and partners Mickey Bar and Shoni Reuveni. Although foreign investors are attracted to the project for its unique design and luxurious living standards (a rarity in Tel Aviv until recent years), for many of the ultra-wealthy Israelis who will make this their primary residence, it will be seen in popular culture as the ultimate status symbol.

The grass-roots social justice movement within Israel that is currently fighting against this kind of development sees this luxury tower as one more foot in the grave for Tel Aviv’s middle class. Despite some speculation that the real-estate bubble will eventually burst here just as it has elsewhere in the world, so far it has grown only larger. Towers near the beach such as the Opera and Basel are selling for approximately $550 per square foot. New apartments with a view of the sea are going for as much as $1,455 per square foot and many speculators expect the prices to just keep rising. According to professor Elinoar Barzacchi, the former head of the school of architecture at Tel Aviv University, Tel Aviv is rapidly becoming a place for the very rich and the very poor. Luxury towers exacerbate this problem because rather than providing more affordable housing to a market desperately in need, a smaller number of units is sold for top dollar. 

Zemah shrugs when asked about the Meier-on-Rothschild tower in relation to the current social controversy. 

“This isn’t happening just in Tel Aviv,” he explains. “This is a worldwide phenomena that the rich are getting richer and the poor are getting poorer. We are just another small drop in the bucket.”

There is no doubt that this new residential tower will attract only the wealthiest buyers who can afford not only the steep purchase prices — the penthouse of the building on floors 38 and 39 is, at $45 million, the most expensive apartment ever on the Tel Aviv market — but also the exorbitant maintenance costs for the pool, spa, Jacuzzi, sauna, a 24-hour concierge, gardens, cleaning services and habitual repairs. 

According to Zemah, the building was designed with the most environmentally friendly technology available today in order to lower these monthly maintenance fees. Features include Israeli water-saving technology; pneumatic waste collection to maximize recycling; blinds and shading designed for the local climate to reduce air-conditioning use; windows and glazing to optimize light within the building; and locally sourced building materials to reduce the impact of transportation.  

Upon completion, the sleek-looking, white Modernist tower will stand 590 feet tall. In a nod to his architectural predecessors best known for the functionality and minimalism inherent in their Bauhaus signatures, Meier’s goal was to use the natural light and create a seamless integration with the surroundings. Although one could hardly say that this chic, white tower will even remotely resemble the block buildings at its feet, it will certainly be an impressive icon in the city’s skyline — one that symbolizes the future and celebrates how far this municipality has come since its turbulent beginnings.

Although this is Meier’s first project in Israel, he notes that he has been fascinated by Israel since his first visit to the country 50 years ago. 

“At this point in my life, to be able to give something to this extraordinary city, Tel Aviv, this unique building and wonderful place to live, is the fulfillment of a lifetime dream,” he says. 

Perhaps its most attractive feature, however, is the stunning perspective it will provide to residents. At the edge of a model terrace replete with wooden floors and glass walls to enhance visibility, Zemah notes that even from the seventh floor, the building has spectacular views. 

In the distance, the Mediterranean forms a subtle, azure line between the city’s relatively low skyline and the clear, blue air. Less than 10 minutes away by foot lies the charming neighborhood of Neve Tzedek, the Habima national theater and opera house, Charles Clore Park and a slew of art galleries, open-terraced cafes, restaurants offices, banks, stores and shops. From this height, one can also clearly see the city’s first skyscraper, Shalom Tower, as well as the handful of other towers that rise along the horizon. 

“If you compare it to New York, it’s like being on 59th and Fifth streets,” Zemah says with satisfaction. 

For those who see this tower as another eyesore against the city’s largely low buildings, it is far too late to stop construction now. And for those who can afford it — and the trend shows that many Israelis who can are rapidly making central Tel Aviv their home — these apartments will doubtlessly be akin to living in a museum. 

Israeli entrepreneur’s FreshBiz board game could sharpen your business skills

Starting a company can sometimes be likened to a game of chance. Coming up with the right idea at the right time, when the market is neither saturated nor in financial free-fall, isn’t always under the business owner’s control, no matter how crack the team.

Ronen Gafni aims to enable entrepreneurs to surmount the vicissitudes of chance by turning the startup game into a real board game. FreshBiz is the result of eight years of development by Gafni, an entrepreneur who is taking his biggest gamble yet with a product that looks like the fabled Game of Life, but is far more practical.

FreshBiz players move through various business stages, from starting a new company to trading on the stock market. Dice throws and “business opportunity” cards help them advance toward the winner’s slot.

Instead of earning $200 by passing Go, players pay “toll passages” along the way. And you have only 90 minutes to do it. The game aims to simulate the world of business and to improve business behavior and industry acumen.

Unlike typical board games, competition is secondary to collaboration. “There can be more than one winner,” Gafni explained. “So it’s not about beating other people. It’s about finding creative ways to make enough money to get to the winner’s block. And if you collaborate, the chances are higher that everyone is going to get there.”

As players move around the board, they can start new businesses whenever they land on an empty lot. It may cost $2 million to open a business, but if you pay attention, you may have the opportunity to start a company for half price — if you find a partner. Similarly, you may be able to trade stocks more profitably if you team up with someone else.

Game translates across cultures

Sounds like you’d need an MBA to succeed in FreshBiz, but Gafni insists that “you’ll pick it up very fast. From the second game on, you’ll be more creative about how you play.”

You can buy the physical game for $50 or download an iPad version of FreshBiz for $7 so you can play against a maximum of four players in your living room or on the Web. But perhaps the best way is to join a FreshBiz workshop.

This is what Gafni has been doing for the last 18 months — running tests with real people around the world, to see how the game works and whether cultural differences matter. He has 30 facilitators (each person pays $700 to buy a kit, after which he or she can run as many workshops as desired) and has played the game in Israel, New York, Spain and Singapore; at banks and financial firms; and with professors and MBA graduates at New York University’s entrepreneurship program.

Perhaps surprisingly, there are very few differences in game play across cultures. That’s because “it’s a game about our core beliefs,” Gafni said. “It doesn’t matter if you’re in India or Italy; we all go through the same experiences. In Israel, people might scream more, while in Europe the game might be quieter. But our insights are very much the same.”

Where is Gafni’s favorite place to play FreshBiz? “Madrid,” he said. “I don’t know Spanish, but I can see how the game is going by the movements made by these top executives.”

The game has, so far, been translated into Spanish, Russian and Hebrew, in addition to English, of course. Gafni estimates 3,000 people have played the game already in more than 100 sessions.

Tel Aviv ‘world tour’

FreshBiz officially hit Israel in July, when Gafni held a workshop with 200 entrepreneurs and business owners at the ZOA building in Tel Aviv.

The cost to join a FreshBiz workshop varies depending on the length, from NIS (new Israeli shekel) 150 (about $38) for a short session, up to NIS 2,000 (a little more than $500) for a whole weekend per person. Gafni hopes that organizations will pick up the tab for their top team members.

A workshop can include anywhere from 20 to 150 players. The facilitator does some lecturing with an overhead projector, but it’s mostly about sitting (or jumping) around the board.

Gafni’s goal is to have 1 million FreshBiz’ers in three years. The iPad app is key, he says, and it will comprise more than just the game. “There will be an entire community for entrepreneurial thinkers, where they can share knowledge and opportunities. They can create events and parties” outside of the digital realm.

His own entrepreneurial path started when he began trading stocks while serving in the Israel Defense Forces. He built a stock portfolio worth hundreds of thousands of shekels until the global financial meltdown. “It was a heavy blow for a young guy like me who was just getting started,” Gafni said. “But it also taught me the philosophy of recovery from a financial crisis.”

He and his wife later worked together in their own marketing consulting and branding company, where he saw “so many owners are stuck playing an old game of life and business. The world is changing around them, with technology, the economy, globalization, society — it’s not the same as it used to be — but they don’t know how to adapt themselves to this new game.”

Gafni, 39, was inspired to create FreshBiz after he realized the new world of business looked nothing like the landscape his parents knew. “They both worked in a bank for 30 years and then got their pensions,” he said. “I knew from the age of 10 that I wouldn’t do that. Knowing how much I’ll earn at the end of the month is boring. It’s cooler not knowing!” 

Don’t launch a startup till you play this game

Starting a company can sometimes be likened to a game of chance. Coming up with the right idea at the right time, when the market is neither saturated nor in financial free-fall, isn’t always under the business owner’s control, no matter how crack the team.

Ronen Gafni aims to enable entrepreneurs to surmount the vicissitudes of chance by turning the startup game into a real board game. FreshBiz is the result of eight years of development by Gafni, an entrepreneur who is taking his biggest gamble yet with a product that looks like the fabled Game of Life, but is far more practical.

FreshBiz players move through various business stages, from starting a new company to trading on the stock market. Dice throws and “business opportunity” cards help them advance toward the winner’s slot.

Instead of earning $200 by passing Go, players pay “toll passages” along the way. And you have only 90 minutes to do it. The game aims to simulate the world of business and to improve business behavior and industry acumen.

Unlike typical board games, competition is secondary to collaboration. “There can be more than one winner,” Gafni explained. “So it’s not about beating other people. It’s about finding creative ways to make enough money to get to the winner’s block. And if you collaborate, the chances are higher that everyone is going to get there.”

As players move around the board, they can start new businesses whenever they land on an empty lot. It may cost $2 million to open a business, but if you pay attention, you may have the opportunity to start a company for half price — if you find a partner. Similarly, you may be able to trade stocks more profitably if you team up with someone else.

Game translates across cultures

Sounds like you’d need an MBA to succeed in FreshBiz, but Gafni insists that “you’ll pick it up very fast. From the second game on, you’ll be more creative about how you play.”

You can buy the physical game for $50 or download an iPad version of FreshBiz for $7 so you can play against a maximum of four players in your living room or on the Web. But perhaps the best way is to join a FreshBiz workshop.

This is what Gafni has been doing for the last 18 months — running tests with real people around the world, to see how the game works and whether cultural differences matter. He has 30 facilitators (each person pays $700 to buy a kit, after which he or she can run as many workshops as desired) and has played the game in Israel, New York, Spain and Singapore; at banks and financial firms; and with professors and MBA graduates at New York University’s entrepreneurship program.


Perhaps surprisingly, there are very few differences in game play across cultures. That’s because “it’s a game about our core beliefs,” Gafni said. “It doesn’t matter if you’re in India or Italy; we all go through the same experiences. In Israel, people might scream more, while in Europe the game might be quieter. But our insights are very much the same.”

Where is Gafni’s favorite place to play FreshBiz? “Madrid,” he said. “I don’t know Spanish, but I can see how the game is going by the movements made by these top executives.”

The game has, so far, been translated into Spanish, Russian and Hebrew, in addition to English, of course. Gafni estimates 3,000 people have played the game already in more than 100 sessions.

Tel Aviv ‘world tour’

FreshBiz officially hit Israel in July, when Gafni held a workshop with 200 entrepreneurs and business owners at the ZOA building in Tel Aviv.

The cost to join a FreshBiz workshop varies depending on the length, from NIS (new Israeli shekel) 150 (about $38) for a short session, up to NIS 2,000 (a little more than $500) for a whole weekend per person. Gafni hopes that organizations will pick up the tab for their top team members.

A workshop can include anywhere from 20 to 150 players. The facilitator does some lecturing with an overhead projector, but it’s mostly about sitting (or jumping) around the board.

Gafni’s goal is to have 1 million FreshBiz’ers in three years. The iPad app is key, he says, and it will comprise more than just the game. “There will be an entire community for entrepreneurial thinkers, where they can share knowledge and opportunities. They can create events and parties” outside of the digital realm.

His own entrepreneurial path started when he began trading stocks while serving in the Israel Defense Forces. He built a stock portfolio worth hundreds of thousands of shekels until the global financial meltdown. “It was a heavy blow for a young guy like me who was just getting started,” Gafni said. “But it also taught me the philosophy of recovery from a financial crisis.”

He and his wife later worked together in their own marketing consulting and branding company, where he saw “so many owners are stuck playing an old game of life and business. The world is changing around them, with technology, the economy, globalization, society — it’s not the same as it used to be — but they don’t know how to adapt themselves to this new game.”

Gafni, 39, was inspired to create FreshBiz after he realized the new world of business looked nothing like the landscape his parents knew. “They both worked in a bank for 30 years and then got their pensions,” he said. “I knew from the age of 10 that I wouldn’t do that. Knowing how much I’ll earn at the end of the month is boring. It’s cooler not knowing!”