There is one rule above all — adapt or die
Plan, plan, plan. It is drilled into the head of every business student. Write business plans, addressable market analyses, go-to-market strategies.
The idea is that a business is a structure and you are the architect. You can write a business into reality. You can tame the chaos. Every line will be translated into a living part of a vibrant business like the meticulous drafting notes on a building elevation. Every spreadsheet cell will blossom into a revenue stream or product line. Uncertainty can be tackled with contingency plans.
Advice to entrepreneurs seeking to change the world
Science changes the world. But to do so, it has to get from the halls of academia to the everyday lives of ordinary people. That journey is fraught with pitfalls, unforeseen challenges and roadblocks.
Surmounting the obstacles that block the commercialization of transformational scientific advancements is a test that challenges even the most determined entrepreneur.
History is littered with examples of life-changing science or technology taking years or even decades to move from invention to widespread adoption. And many just never make the transition successfully.
Take, for example, some of the profound breakthroughs in human history. Penicillin, one of the most revolutionary advancements in modern medicine, was discovered by scientist Alexander Fleming in 1928, but didn’t see widespread application until 1943, a full 15 years later. Our understanding of electricity was moved forward by Benjamin Franklin’s landmark electricity experiments in 1752, but that didn’t result in the development of electricity generation until 1831, when Michael Faraday’s breakthrough electricity induction experiments set the stage for one of the most transformational technologies of our time. …
The biomanufacturing revolution is changing the way we think of centralized systems, social equity, our relationship to nature and supply chains
Certain economic upheavals are seismic changes in the way we produce, consume and innovate. But they often happen incrementally and become fully apparent only in retrospect.
I believe we are currently undergoing such a seismic shift in the means of production. The biomanufacturing revolution is changing the way we think of centralized systems, social equity, our relationship to nature and the supply chains that bring us the products we use in our daily lives. …