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From the Northeastern Section of the ACS, focusing on career management and development
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01/23/13
Entrepreneurs. 4. Initial steps suggestions
Filed under: Position Searching, Networking, Job Offer (Situations), Legal matters, Observ. Trends, Alternate Career Paths
Posted by: site admin @ 12:31 pm

At a meeting last week, I met with several interesting people.
Some were in mid-career looking for a change, others desired
moving for differing reasons and a third set sought to become
involved in a start-up with ideas of their own.  One fellow, CM, in
particular had developed useful technology in a university
laboratory under sponsored research and sought counsel.

Before my individual sessions, I toured the exhibition and developed
a connection with two entrepreneurs who are developing a business
and were willing to share and teach others in Entrepreneur Avenue
of the Exhibition.  You can find their story and business plan at
this link.

They were JL, the principal and CEO, and WR-B, the operations
manager of an emerging genomics firm that had a terrific business
model and story to share.  The CEO was quite forthcoming in offering
that the first step should be to:

Obtain and secure an exclusive IP license for technology for low cost
from the technology transfer office.

Then, the second action item, which can be worked on in parallel,
is to:
 
practice and prepare your sales pitch for what you will sell, make or
provide as a service to an experienced attorney

Having convinced a reputable, legal representative knowledgeable in
the field will aid in refining the sales pitch to each group that your
team decides to bring into the effort.  They will have connections,
organizations and recommendations for funding sources, VCs, etc.
They will have insight in critical negotiation steps.

You want to provide an incentive for them to want to work with you.
“skin in the game…”

I found JL’s comments unique, well qualified and directly pertinent
to the client’s specific request and I could not offer it any more
eloquently.

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