The Future
What do you think makes an entrepreneur? Is it inbuilt or can it be taught?
Entrepreneurs must have passion, ambition and conviction that they can succeed. To a certain extent these are inbuilt characteristics but a certain amount of coaching, mentoring and support can strongly reinforce them. In addition to this there a plethora of business development techniques that can certainly be taught. An instinct for business and good interpersonal relationship skills is critical.
What’s your next step? What potential problems do you see to achieving this and how will you overcome them?
Continuing to develop the businesses we have whilst maintaining an open eye and open mind for other acquisitions. Every day brings new challenges in terms of market opportunities, customer requirements, operational performance and leadership and this will be never ending. The ability to adapt the business model, change gears fast and ideally pre-empt adverse outcomes is key to success.
What else would help chemical science SMEs in the UK?
Talking to my children a prevailing perception amongst the youngest and brightest is that only “nerds” get involved in science based careers and the exciting rewarding interesting opportunities lie elsewhere. We are an industry almost devoid of personality, character and excitement as far as the young are concerned whilst the reality can be so much more! SMEs offer a good opportunity to rekindle some of the necessary excitement in the future.
What are your top 5 tips that you would give to someone who’s thinking about starting their own chemical science company?
- Research the market thoroughly
- Find some real customers
- Carefully design products and offerings to solve real problems(unmet needs)
- Rigorously assess necessary resources, people and partners
- Plan, plan, plan to have a business that makes money
Would you start another business?
Yes
