Mark Ahn Explains Why Some Biotech Startups Fail

Mark Ahn Explains Why Some Biotech Startups Fail

Every biotech company that wants to remain successful needs to make sure that it is following the advise of this industry veteran. When PR Newswire reported this talk with Dr. Mark Ahn, people began to listen to his sage advice on the subject.

Be Patient

These companies have extremely long product cycles, and it could take years for just one product to begin to make money. Businesses are encouraged to have their own business plan, and they are reminded that their business plan will not look like anybody else’s.

Work With The Board

The board of directors of a company that is filled with industry veterans will be able to guide the management of the company in the right direction. Most management teams need that kind of advice so that they can take the company where it is supposed to go.

When you are thinking of working on your own startup, you need to remember that money is not going to flow in overnight. These biotech companies are going to have problems with cash flow until they come up with a business plan that allows them to be patient because of the product and testing cycles that they must endure.

See original post on PR Newswire

One comment

  • Jaylah Quentin
    June 19, 2017 - 10:13 am | Permalink

    This goes to show why the need to listen and actually be patient in reviewing ones business plan over and over. The people at ensure that they double check or even severally check to ensure that they communicate the exact requirement and make the new industry grow.

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