Friday, 16 March 2012

Thoughts on Entrepreneurship & Innovation part 2

cont... Paul Kerney[1] stressed out another important parameter that delves deeper into the organizational perspective and that is the ecosystem and cultures around biotech industry and their relation to the personal and professional growth as an entrepreneur. The challenge here is to define the product and integrate the parts into an operational system. To set up the personal and corporate ecosystem is to be able to understand and always bear in mind that business is still performed through connections i.e. the people we know. An integral part of this is trust. I would define trust as the procedure of investigating in the personal ecosystem on a continuous basis. Damaging the ecosystem by not denoting trust is unwise. Powerful ecosystems lead to powerful results. From an organizational perspective it is beneficial to be within the decision area of an organization. Participating in strategic thinking and decision making leads to an exciting, educational, growth opportunity, privilege and responsibility.

Being part of the decision making team is essential since it gives the opportunity for a immerse reflection on the good and poor behaviors of the management team per se. The good traits could be summarized in the collaborative attitude, sharing trust, holding each other accountable, being communicative, honest, respective and promoting diversity. On the other hand, the poor traits lead to individualistic attitudes, hoarding of information, distrust, holding back, lack of communication, being divisive, dishonest and disrespectful. Leaders almost always notice these traits in their team members and the advice for a successful entrepreneur is simply not to be limited by YOU. 

This simply means that the sooner the assimilation of not being the centre of the universe is perceived, the easier will be for a successful entrepreneur to set up the necessary networks of collaboration and alliances. Surrounding one by intelligent, resourceful, creative, positive, collaborative, complementary, people that elevate and motivate the character, the spirit and creating a comfortable, open place and a comfort zone for expression is the key to success.  Success is perceived when learning about the company, making a connection and bringing empathy. A good team always consists of people who do their homework, bring energy in the discussion, being smart, curious, committed and hard working people who will be able to bring value in the company - the company wants to help people but the people must also be able to bring added value to the company. 

One of the most important highlights that will definitely remain carved in my mind and heart is a phrase by Tom Beckwith[2], very successful leading sales professional, with extremely valuable managerial experience in Amazon and other successful companies and start ups. Tom decided to conclude his session by saying that as successful and serious entrepreneurs we should always lead our lives with hopefulness and gratitude. It is amazing that in such hard times and competitive environments there are people who are still talking about hopefulness and gratitude. This stems from an inner need to understand the moral ethics of hoping for better days but at the same time being thankful for what has been achieved and happened so far. It seems that people nowadays have forgotten the word “thank you”, taking everything for granted and not understanding that nothing is given without fighting for it. A successful entrepreneur must be ready to fight for every single thing in life and never wait for things to arrive without endeavor.

[1] Wednesday February 8th, Paul Kerney, CEO and co – founder of Integrated Diagnostics on “Why Biotech? Personal and Corporate Growth”
[2] Thursday February 9th 2012 “Focusing on fundamentals - navigating a course through the turbulent waters facing early stage bio - tech companies - Structuring Sales Organizations for Success”.

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