Practical Help: How to get Started?
It may seem odd to have a chapter titled “how to get started” at the end of a book. There is a reason for this – most entrepreneurs are eager to get started, however, most entrepreneurs have many started, but as yet unfinished projects at home and at work. Starting a biotechnology company is not an endeavor to undertake without plenty of forethought, guidance, and planning. Often, when there is so much to do, sometimes the most difficult part is knowing what to do first. This brief chapter contains a summary of actionable items to help you get going. These steps provide an action list for those who may not know what to do first in starting a company. To some, these steps may seem remedial, but to others they may provide the needed concrete steps to get the company going. Starting a biotechnology company is not a prescriptive endeavor. Rest assured, there are established requirements to learn, such as those in the regulatory phase of product development, but during the start-up phase, life is not always conventional. There are many ways that biotech companies initiate and grow, and they vary considerably. A good way to view this process is like a journey. Let us say you live in downtown Manhattan in New York City, and you desire to travel by car to Monterey, CA. There are dozens of potential routes one can take to get there – some well-traveled routes and other less traveled ones. Along the way one may encounter unanticipated detours. However, as long as the traveler (1) knows their ultimate destination, (2) obeys the laws, (3) makes wise use of time, and (4) heads southwest, they will eventually get there. However, someone can complete steps 1, 2, and 3 extremely well, yet if they travel northeast they will never arrive at their desired destination. The successful biotech entrepreneur must do all of these things well.