Mastering the Unicorn Chase in the Start-Up World

with Aki Eldar, Co-Founder & CEO of Mirato

Aki Eldar, Co-Founder and CEO of Mirato, joined James on a recent episode of Tech Salescraft to share his journey and insights on navigating the complex start-up landscape. From his time as a sales leader to a successful entrepreneur, Eldar has seen it all: from unicorn dreams to the realities of the sales grind. His experience offers valuable lessons for current founders, particularly when it comes to resilience, sales strategy, and the evolving role of CEOs.

Unicorn Fever and Market Realities

The lure of the unicorn—those elusive billion-dollar start-ups—can often cloud a founder’s focus. Eldar understands this well, having navigated both the highs of massive growth and the inevitable challenges that follow. Reflecting on the changing landscape since the pandemic, he notes that while the market once seemed saturated with unicorn announcements, times have shifted. Credit has tightened, and investors are far more discerning.

“Most entrepreneurs are not successful. Most companies don’t make it. But if you believe in yourself, go for it,”

Eldar shares, underscoring the importance of self-confidence in the face of tough odds. The lesson here is clear: it’s not just about chasing unicorn status. It’s about adapting to market shifts and staying grounded in the reality that success is never guaranteed.

Sales: The CEO’s Essential Skill

One of Eldar’s key messages for founders is the critical importance of sales, especially in the early stages of a company. Coming from a sales background himself, Eldar emphasizes that understanding the customer’s needs before even building the product is essential for success. For many technical founders, this sales-first approach might feel unnatural, but Eldar insists it’s key to survival.

Founders should start by talking to customers, validating ideas, and ensuring they’re addressing real needs. “Don’t just fall in love with your product,” Eldar warns. It’s easy to become attached to what you’ve built, but if it’s not solving a genuine problem, adjustments will be necessary.

Building the Right Team for Growth

As the company scales, Eldar believes that bringing on the right talent is crucial, particularly for sales. The first hire is especially important. He describes two types of salespeople: those who create the sales playbook and those who execute it. The former, known as Type A players, are critical in the early stages of a start-up’s growth.

“Bring in the right people to help you, especially when you’re creating something from nothing,” Eldar advises. This means looking for individuals who can work independently, generate leads, and close deals, even in the absence of a well-established product-market fit. A key takeaway for founders is to prioritize long-term thinking when hiring, ensuring they build a team that can grow with the company.

Staying Adaptive in the Face of Challenges

Perhaps Eldar’s most valuable piece of advice for aspiring unicorn founders is the importance of adaptability. He shares that when building Mirato, the original product focus had to shift after some time. By staying open to change and listening to the market, the company was able to pivot, rebrand, and ultimately achieve greater success. Eldar’s resilience and willingness to course-correct in response to market feedback are qualities all founders should strive to emulate.

The road to unicorn status may be paved with obstacles, but with the right mindset, a keen focus on sales, and the flexibility to pivot when needed, founders like Eldar show that success, while not guaranteed, is certainly within reach.

Watch the full episode of Tech Salescraft on YouTube, or across all major podcast streaming platforms.