Providing candid advice on the ups and downs of entrepreneurship, this book interweaves the world of tech start-ups, the American immigrant experience, and the realities of running a business with your life partner.
Across two decades as entrepreneurs, Elma and Dov Levy faced economic recessions, government shutdowns, work-life balance issues, leadership conflicts, and the emotions of letting go of their company Dovel Technologies – a technology consulting firm that they grew from a space in their attic to a multimillion-dollar operation with major government contracts. In this conversational and practical book they share insights on
How next-generation entrepreneurs can develop business relationships and networking skills, and maintain a high level of risk tolerance and manage risks strategically, including how and when to scale the business.
How to stay true to guiding principles as co-owner spouses and woman-owned business entrepreneurs.
What trends and opportunities to watch out for in a post-COVID-19 world.
Aspiring entrepreneurs, growth-focused founders, family business owners, and government and technology professionals will especially value the Levys’ business and personal success stories, with guidance on how to manage a marriage and business simultaneously, creating boundaries with a home office, and showing mutual respect in the boardroom.
Author(s): Elma Levy, Dov Levy
Publisher: Routledge
Year: 2022
Language: English
Pages: 195
City: New York
Cover
Half Title
Title
Copyright
Dedication
Contents
Introduction
Acknowledgments
Part I: Prologue
1 The Dov and Elma Story
Dov Before Elma
Elma Before Dov
Dov’s Intro to the U.S.
Elma’s Intro to the U.S.
January 1982–May 1983
1983–2000
Before Integrated Data Corporation/Dovel
Information Systems Incorporated
Access Engineering Corporation
CompuMark U.S.
SCOPE Incorporated
Elma
2 Dovel Is Born
Dov
Late 1980s
Electronic Data Gathering and Retrieval System
A Door Opens. . .
DTS
Elma
Part II: Lessons Learned
3 Building the Corporate Infrastructure
Elma
2000–2005: THE START-UP PHASE
Mission Statement
How We Got Our First Prime Contract
2005–2010: THE GROWTH PHASE
Office Space
From QB to MS Navision
JIRA Software
BD During the Growth Phase
Project Management Reviews
CMMI
Personal Challenges
Advisory Board
2010–2012: MATURITY PHASE, GROWTH SLOWDOWN OR NO GROWTH
2012–2018: RENEWAL OR DEATH
2019–2021: REVIVAL AND CLOSURE
Summary
4 Bagels on Fridays
Elma
5 Should Married Couples Run a Business Together?
Dov
Elma
Relationship
Roles and Responsibilities
Respect
In Summary
6 Dov’s Tech Tales – The Only Constant Is Change
Dov
Online Trademark Research System
EDGAR
American Red Cross
Defense Travel System
“The Cloud”
GrantSolutions.gov
7 Tolerating Risk
Dov
Office Lease
Government Contracting
Calculating Risk of Investment
Elma
Dov
Hiring the CEO
Summary
8 The Business Development Challenge and Chasing Rabbits
Dov
Maintaining Focus With Your Business Development Efforts
Growing to the Left and Right of Your Core Expertise
“Yes, We Can Do That”
Competencies and Business Stages
What We’ve Learned
Dov
Growth Phase
Maturity and Renewal Phase
Don’t Chase Rabbits
A Major BD Challenge: Hiring Business Developers
9 Letting Go
Letting Go to Move Forward
Parenting and Learning How Much to Let Go
Starting a Company Means Becoming a Parent All Over Again
The Exchange: Letting Go of One Career to Start Another
Bringing on Our First Employees and Specialists
Bringing Executives to Our Team: What We Learned
When Letting Go Got Tougher: The New CEO
Elma’s Challenges
Dov’s Challenges
Embracing Our New Life
Our Lesson on Trusting
10 Preparing for Exit
PREPARING YOUR COMPANY FOR EXIT
Elma
Strategic Acquisition
PE Acquisition
Why Is It Important to Know What Kind of Transaction You Are Looking At
When and Why Is a Valuation Important?
Take Care of Your Team: The Equity Bonus Plan
Dov
Establishing a Target Sale Price
The Transaction Process
The Transaction Day
The Post-Transaction Company
Non-competes and All That Jazz
Legal Representation
A Second Bite of the Apple
PREPARING YOUR PERSONAL ESTATE FOR AN EXIT
Trusts
Donor-Advised Fund
In Summary
11 Entrepreneurship Advice for All: From College Students to Experienced Founders
Elma
Know Your Strengths!
Dov
12 Why Travel Adventures?
Part III: Epilogue
13 The Final Chapter
14 The World Post-COVID-19: Trends We’re Following
Dov
COVID-Related Transformation of the Workplace
Remote Knowledge Worker
Vacant Commercial Real Estate
Technologies
Health Care
Security
15 Our Travel Adventures
2008: The Grand Canyon
Summiting the Kilimanjaro
16 Conclusion
Elma
About the Authors
Index
