Entrepreneurial LeadershipPresented by Dinesh Patel, Ph.D.

November 6th 2013

Entrepreneurial Leadership

• Make a decision and go!• Show passion, not perfection

– “Don’t worry, be crappy” and “Churn, baby churn”-Guy Kawasaki• Avoid falling in love with your ideas• Find the sweet spot, then scale it• Don’t think about taking a leap, just take it• Entrepreneurship isn’t a war, it’s about solving problems and

turning a profit• Hire slow, fire fast• Learn from your first, earn from your second, give back with your

third

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8 Core Beliefs of Extraordinary Entrepreneurs

Entrepreneurial Leadership - The TheraTech Story

Founded in 1985One EmployeeScientistGuinea PigDrug Delivery Focus

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1985

FinancialTechnologicalQualified Personnel

Barriers to Entry

1992 1999

64 EmployeesPatent-Protected Technology2 Delivery SystemsProducts in Clinical StudiesMarketing Agreements

IPO May 1992 ( 65.3 M)$7.50

ShareSubsequent OfferingsDecember 1992 (141.8M)

$14.00/shareFebruary 1994 ( 187M) $13.63/share

1994

63,000 Square Feet Building Occupied-Early 1994

350M $ Stock for Stock Merger with Watson Pharmaceutical

•NDA Submission-September 1994•NDA Approval-September 1995•Product Launch-November 1995•Marketed by SmithKline Beechman

1986 1988 1991

Financing27MMSolvay

Financing60MMSamyangSyntex

Financing20MMPfizer

Entrepreneurial Leadership

• Entrepreneurial drive comes from within (confidence, passion)• Staying within your comfort zone (secure job with attractive salary) deters one

from embarking upon the unknown journey of entrepreneurship• There is no right or wrong time to start• Stay within your area of core competency (understand critical issues and trends in

your area of expertise)• Having a track record helps in getting funding and/or attract the right team (been

there/done that)• Surround yourself with the best (identify your strengths & weaknesses-fill in the

gaps). Do not micromanage.• Win-Win Philosophy• Spread the wealth (retain key employees)• High integrity is a MUST!

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Lessons for Entrepreneurs

Entrepreneurial Leadership

There are lots of opportunities.If you don’t try, you will never find out

how good your ideas are.

“GO FOR IT!”

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