Making Financial Success

Happen-

Make Your Dream a Reality

Why Innovation and Leadership are the Keys to

Your Success and Standing Out in Your Career

Dr. Pamela McCauley, Ph.D., CPEProfessor & Director, Ergonomics Laboratory Industrial Engineering & Management SystemsUniversity of Central Florida

President & Chief Technology Officer Transforming Your STEM Career, Inc.Orlando, FL

What type of entrepreneur or leader do you want to be?

Research business

Renowned Scientist

Consulting business

Research consultant

Service business

Corporate Leader

How to Decide:

Your passion and purpose

1

Your professional strengths, research, experience, and expertise

2

Emerging opportunities business, corporate or leadership opportunities

3

Access and relationships

4

Viable “business” model possible

5

Best Case Scenario

• expertise

• experience

• passion Integrate your

• relationships

• resources

• professional network with your

• a small business

• entrepreneur

• corporate leader

in order to meet a current and emerging business

need as

How to do it?

Know

Know that it is a business NOT a university project

Decide

Decide what you want to do

Give

Give yourself a timeline to achieve “kick off”

Determine

Determine the resources that are available

Determine

Determine who will be on “your team”

Protect

Protect your ideas

Create

Create an initial plan and timeline

Understand

Understand what it takes to “manage,” maintain, and grow the business

When to do it?

Factors to consider

Phase of your career

Time sensitive issues surrounding the opportunity

Accessibility to key relationships

Funding opportunities

Impact on your personal life

My Entrepreneurial History

Expert Witness

Tech Solutions, Inc.

Top Secret Weave, Inc.

Bush Enterprises, Inc.

Transforming Your STEM Career, Inc.

Expert Witness

Sole proprietorship initiated in 1994

Ergonomics, biomechanics, occupational safety and product liability expert witnessing

My area of expertise, experience and passion

Able to differentiate myself:

Professor, level of experience and expertise

Access to labs/faculty

Textbook author

Strong communication skills

Certifications

Tech Solutions, Inc.

Founded in 1999 as a partnership with a university colleague

• Ended partnership 2 years into business

01Initiated as a result of my HFE consulting

02DoD Contracting business

03SBA 8a certified

04Offices: Orlando, FL and Albuquerque, NM

05Closed in 2012 after SBA 8a graduation

06Issue: Difficulty in business “differentiating” itself

07

Top Secret Weave, Inc.

Founded in 2001 due to personal interest and opportunity in Black Hair Care industry

Innovative concept developed

Issue: Not my expertise; Lacked relationships, knowledge and depth of experience in the field

Closed in 2005

Tech Solutions/Bush Enterprises, Inc.

Partnership that was developed to continue the work of Tech Solutions.net, Inc. after TSI graduated from the SBA 8a Program

Issue: Difficulty differentiating the business; no IP and not my area of passion

Ended partnership in 2012

Founded in 2012

Research & Expert Witness

Leadership & Professional Development

Program Evaluation

Establishing IP

Top Notch Team

Business plan

SBIR submissions

Seeking investors

My Expertise, Experience,

AND Passion!!!

www.TramsformingYourSTEMCareer.com

13

T-STEM’S ALGONITE TM

Algonite will accelerate global research

opportunities by streamlining collaborative

and social connections among STEM professionals

There does not currently exist any other platform

that is conclusively effective in facilitating collaborative initiatives among all STEM professionals seeking more

inclusive and diverse research teams.

A secure network for scientists to engage in social

media for the purpose of connecting, collaborating,

and disseminating scientific information or perspectives.

Create Your Team

Identify a trusted person that can be your “Innovation

soundboard”

Develop a core team of (3 to 5) supporters/advocates with key areas of knowledge that you can trust

• Business, technical, legal, strategic and financial guidance

Create Your Micro-Innovation Eco-system

Idea generation plan

01Product innovation strategy

02Talent and expertise resources

03Technology transfer strategy

04Funding options and strategies

05

Resources! Resources! Resources!

University incubators

NSF I-Corps

SBIR/STTR

Technology Transfer offices

Small Business Development Centers

Crowd Funding…

Creating Your Path

Know your value

01Find your passion

02Personal vision statement

03Personal mission statement

04Roadmap

05Alignment: individuals, organization and community

06

Find Your Passion

What excites, energizes or angers you?

What did you dream of doing as

a child?

Apply this approach:

• Obtain information

• Talk to people in the area

• Engage in a situation to gain an experience

Personal Vision Statement

Vision Statement (long-term perspective)

A statement that represents the holistic view, intention, and purpose of your life and career.

This statement is described with global or high level words and should be original and specific to the values, passion, and life views that you hold.

Personal Mission Statement

Mission Statement

Statement of goals to be attained in support of the vision; 1 to 3 years timeframe

The mission statement consists of actions that you will follow to achieve your vision.

The statements connect specific action to your vision.

Innovation Initiation

Find a need

Know what you know – know what you don’t know

Don’t be afraid to think differently

Know the market/customer

Innovation Instantiation

Determine whowants this innovation

01Protect your idea/innovation

02Create a brief but clear explanation of the innovation

03Identify potential collaborators

04WILL ANYONE PAY FOR IT?!!

05

Innovation Introspection

Decide if/how you want to take the innovation to the finish line

Will you hand it off?

Partner with others?

Will you lead it?

How much control to maintain?

Innovation Implementation

Draft a plan to develop the idea to at least a “proof of

concept”

Plan toward an “end result”

• University relationship

• Funding for proof of concept and product development

• SBIR/STTR funding

• Venture capital funding

PlanYour Exit Strategy

Yes, you will want to exit…Want

Get professional adviceGet

Have fun! Have

Final words of encouragement…

A small business is very different from academia and the corporate world

Differentiate yourself – value proposition

Add value – get Intellectual Property!

Manage Conflict of Interest

Know and USE your resources

Demanding but very rewarding

Just do it!

Innovative Leadership is a Lifestyle