Entrepreneurial Leadership Presented by Dinesh Patel, Ph.D. November 6 th 2013.
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Transcript of Entrepreneurial Leadership Presented by Dinesh Patel, Ph.D. November 6 th 2013.
Entrepreneurial LeadershipPresented by Dinesh Patel, Ph.D.
November 6th 2013
Entrepreneurial Leadership
• Make a decision and go!• Show passion, not perfection
– “Don’t worry, be crappy” and “Churn, baby churn”-Guy Kawasaki• Avoid falling in love with your ideas• Find the sweet spot, then scale it• Don’t think about taking a leap, just take it• Entrepreneurship isn’t a war, it’s about solving problems and
turning a profit• Hire slow, fire fast• Learn from your first, earn from your second, give back with your
third
Confidential Information 2
8 Core Beliefs of Extraordinary Entrepreneurs
Entrepreneurial Leadership - The TheraTech Story
Founded in 1985One EmployeeScientistGuinea PigDrug Delivery Focus
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1985
FinancialTechnologicalQualified Personnel
Barriers to Entry
1992 1999
64 EmployeesPatent-Protected Technology2 Delivery SystemsProducts in Clinical StudiesMarketing Agreements
IPO May 1992 ( 65.3 M)$7.50
ShareSubsequent OfferingsDecember 1992 (141.8M)
$14.00/shareFebruary 1994 ( 187M) $13.63/share
1994
63,000 Square Feet Building Occupied-Early 1994
350M $ Stock for Stock Merger with Watson Pharmaceutical
•NDA Submission-September 1994•NDA Approval-September 1995•Product Launch-November 1995•Marketed by SmithKline Beechman
1986 1988 1991
Financing27MMSolvay
Financing60MMSamyangSyntex
Financing20MMPfizer
Entrepreneurial Leadership
• Entrepreneurial drive comes from within (confidence, passion)• Staying within your comfort zone (secure job with attractive salary) deters one
from embarking upon the unknown journey of entrepreneurship• There is no right or wrong time to start• Stay within your area of core competency (understand critical issues and trends in
your area of expertise)• Having a track record helps in getting funding and/or attract the right team (been
there/done that)• Surround yourself with the best (identify your strengths & weaknesses-fill in the
gaps). Do not micromanage.• Win-Win Philosophy• Spread the wealth (retain key employees)• High integrity is a MUST!
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Lessons for Entrepreneurs
Entrepreneurial Leadership
There are lots of opportunities.If you don’t try, you will never find out
how good your ideas are.
“GO FOR IT!”
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