I'm Nadav Ellinson, originally from Melbourne, Australia. My journey in Israel has taken me from co-founding a tech startup to helping young professionals navigate their financial futures. Here's my story of building Blue and White Finance and what I've learned along the way.

My Journey to Blue and White Finance

I started my career in Israel in hi-tech as a co-founder of Intelligo Group. We developed software to run automated background checks for investment firms in the US. Over seven years, we raised tens of millions of dollars and grew to 50+ employees in Israel plus additional staff overseas.

After those seven years, I felt pulled toward projects closer to my heart. I co-founded Ma'aglei Nefesh, a non-profit where we train community leaders, Rabbis, and Rebbetzins to better support those struggling with mental health challenges.

I also launched what would become Blue and White Finance, where we help young professionals in Israel achieve their life goals through financial education.

At Blue and White Finance, we teach people how to begin investing while navigating Israel's complex tax requirements. We help with understanding salary and income, pensions, budgeting and building spending plans, creating strategies to buy a first home, managing savings, and setting financial goals.

How the Business Evolved

I started the business as "Money by Design," drawing from my experience volunteering with Pa'amonim, a great non-profit that helps people in difficult financial situations. I began gaining traction through social media, posting graphics about financial basics on Instagram and Facebook.

A pivotal moment came when I connected with Aaron Shuchatowitz, who had started a blog called Aliyah Money Tips. I saw the quality of his work and reached out to him. Together, we created an investment bootcamp, starting with an in-person launch session before developing it into an online course.

The success of our partnership led us to merge our brands in 2023, creating Blue and White Finance. Having a business partner has been a huge milestone. It's great to build out a business together rather than tackling it alone, and we complement each other in many ways with our knowledge and approach.

The Rewards and Challenges of Business in Israel

One of the most rewarding aspects of running my business in Israel is contributing to successful Aliyah. I work with families before they come, just after they arrive, and many years into their journey. Being able to help families build wealth to help their kids make a successful life in Israel is quite a privilege.

The biggest challenge? It has to be the taxes. They're quite high here in Israel. While it's justified - our government needs quite a lot of money to provide everything it does, including fighting wars - it's painful to see such a large portion of your hard work disappear before you even see it.

Building Through Partnerships

My business grew primarily through grassroots efforts and word of mouth, combined with organic social media presence, particularly on LinkedIn. However, partnerships have played a crucial role in our expansion. We've had a particularly great collaboration with Nefesh B'Nefesh, with whom we developed the Oleh budgeting calculator and web app (in collaboration too with Shivat Zion), and provided financial training for their staff.

My Advice for New Olim Entrepreneurs

From my experience, I can tell you that starting a business is easy and exciting, but running it and making it successful long-term can be challenging.

Here's what I've learned:

First, you need to really love what you're doing. You also need to be self-motivated because you're waking up each morning without a boss telling you what to do, but you still need to put in your 9, sometimes 10, 11, or 12 hours to make the business successful.

Be prepared to be a generalist. You might start a business selling cakes because that's what you love to do, but at least 50% of your time will be spent on other things - marketing, finance, sales, partnerships, and networking. You need to enjoy these aspects too, or you'll burn out quickly.

Make sure your business targets a specific niche rather than trying to serve everyone. We specifically target young professional English speakers in Israel, and that's what's allowed word of mouth to spread effectively. Now when someone reaches out to us, they've often been recommended by three, four, or even five different friends.

Finally, since I come from finance, I have to add a finance tip: create a basic business plan. Map out your main products, their prices, and how many you can realistically sell. Calculate your potential income for the first few years and what you'll actually take home after expenses and taxes. Running these numbers upfront can give you confidence, help you adjust your pricing and products appropriately, and set you up for success.

To learn more about Blue and White Finance, please visit bluewhitefinance.com