How have the scantiest and management experts look at the entrepreneur?
Answers
Scientist-entrepreneurs often feel as if no one knows their product better than they do. They have often developed it based on a deep understanding of the clinical practice and/or basic research, or refined it with patient feedback, and are often internationally recognized experts in their fields. They naturally feel that they should run a new business based on their products. This feeling is accentuated when scientist-entrepreneurs see that alternative leaders are business and finance professionals who may not have the same academic or clinical background.
In fact, most of the scientist-entrepreneurs we have met usually have the best knowledge of their product and the underlying technology on which the new company is based. However, the commercialization, operational, managerial, and financial skills that are vital to creating a successful business are often not part of the scientist entrepreneurs' toolbox. In this article, we highlight some of the key skills needed to run a successful business and the differences between these skills and – generally speaking – the training of scientist-entrepreneurs. We highlight some of the practices of successful scientist-entrepreneurs with whom we have worked. Of course, there are many exceptions, including new physician-scientists who have successfully introduced new ventures; we will simply make general notes that we hope will help new scholar-entrepreneurs to consider.
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