Steps to consider to start and grow a company. Basics are provided to help entrepreneurs. Examples may relate to Biotech, Pharma and Medical Device businesses, but the ideas apply to most technology fields.
You must learn when to take your "eyes off the ball"!
Entrepreneurs must learn to balance two skills and know when to
use them; a) Focus and, b) Agile Thinking.Focus is driven into entrepreneurs by investors and experienced
managers.The ability to be more agile
in one’s thinking comes from practice. When the situation dictates, agile
thinking should take the lead over focus.
Examples of these two skills are found in discovery experimentation
in a laboratory.Scientists must conduct
extensive literature to learn about the field they pursue.They then develop a hypothesis that requires
testing.Proper experimental design
forms the preparation leading to the testing and results that either confirm or
refute the hypothesis.A high degree of
focus is used in the execution of the experimentation to ensure proper procedures
and completeness of the tests. However,
the agile thinking comes into play during the learning phase and interpretation
The learning phase is the time when a scientist may let their mind
run wild.The goal is developing a hypothesis
that covers the total of all facts known to date.Once the tests are complete, the interpretation
of the results and any future experimental designs require agile thinking.It is through this agile phase that new hypothesizes
or amazing discoveries become apparent.
The same is true for business.The art of preparing a business plan requires extensive learning about
the sector and business.The plan will
contain a course of action requiring the entrepreneur to focus.However, since the business landscape changes
on a regular basis and things rarely go as planned, the entrepreneur must remain
alert and use the agile thinking skills to make corrections and chart new
courses.Thinking agile also is
important for the entrepreneur because they learn to monitor the surroundings
and possibly evade road blocks.
It is important to keep ones “eye
on the ball” so to speak!But,
observation and adjustments are sometimes needed depending on the
situation.Focus on the end goals
ensures you know where you are going.Being alert and using agile thinking may help you plan more than one
path to achieve your objective.Alternatively, the agile thinking may allow you to see superior
opportunities and identify a means of capitalizing on them.
and Thinking Agile are two skills that if used properly can work to
your benefit.Learning to use these two
skills takes practice or you may become too diffuse in our efforts and fail to
make real progress!The ability to analyze
any situation and identify the smartest path to success can help you go further
and achieve the success you desire.