What it takes to succeed as an Entrepreneur

Day 2 of my learning at Global Entrepreneurial Experience

Today I had a chance to hear from and interact with several successful entrepreneurs. We even split into groups and got the chance to talk with our classmates and mentors. First we met with Navneet Puri, founder of Innopharma, now known as Nevakar.

Nevaker is a very successful company. It used to be called Innopharma. It was a pharmaceutical  company based out of Bridgewater, NJ that focused on specialty drugs. It was then purchased by Pfizer. Now a little about the CEO, Navneet Puri. Ever since he was young he wanted to go to med school and become a doctor. However, he ended up in pharmaceutical school instead. There he learned that he really liked field and decided to pursue it as a career in the pharmaceutical industry. A little while after graduating he founded Innopharma (Nevaker). It was an innovative company that came up with smart ideas to help society. Soon Pfizer later took interest in the company and acquired it for 360 million dollars. It was then branded into what it is now known as, Nevaker. His message to us was that whenever you fail, get up and try again.

For our next activity we did something different. We split into separate sub-groups of about 20 people and each sub-group was mentored by one assistant coach. My mentor was CJ Meenan, an author, educator, entrepreneur, speaker and startup strategist. At the beginning of the group discussion CJ asked us to introduce ourselves, state our favorite movie/video game, and any business idea we might have. We then discussed on what was an entrepreneurial mindset. To me an entrepreneur must always have an open and positive mind, and also always be curious. Some of the students also mentioned that an entrepreneur should listen to the other peers around them and find innovative solutions to problems. CJ added that it was also important to never think of things as impossible, but merely as a challenge.

Next we had the chance to interact with Gina Tedesco, a STEM professor at Fairleigh Dickinson University. Professor Tedesco taught us on how STEM can be useful when you are an entrepreneur. She said by following STEM you could come up with really innovative ideas that can really boost your company up. The scientific, technological, and engineering side of STEM can be used to better improve your product.

Next, Dr. Michael Johnson, the Founder of Visikol, a biotechnology company talked about the best ways to communicate with one another. He started by saying that without communication, no company will ever grow, it will eventually just, well, fail. Dr. Johnson then told us that the best way to communicate with your employees would be to always listen to their ideas. To be not inside of your own bubble, and most definitely don’t push anyone away. Finally he said to always have a positive frame of mind. Never let any obstacle stop. Just go around it. 

Debbie Sterling, founder of Golidieblox discussed with us about creativity. She talked about how she created this product called Goldieblox, a kind of buildable for girls. She went to the Toy Expo to propose the idea to big companies that have been in the toy business for a long time and found that they didn’t like her idea. They told Debbie that girls only like pink toys and not building toys. She went home feeling dejected, but reluctantly decided to attend an entrepreneurial class that she had signed up for previously. When she shared her product idea with the group there, everyone loved it! She decided to try to market her product and it was a hit. Millions of people from around the world wanted it. She became a millionaire. The main lesson of this success story is to be creative and be persistent . Don’t let anyone tell you it isn’t possible.

Finally at the end of the day, we watched a video on proper etiquette. For example we learned how to cut bread and how to hold knives in a refined way. The most important etiquette rule however is, never talk with your mouth full. At first I thought this was a useless thing to learn. I mean what does it have to do with entrepreneurship and selling your product. Turns out, it is everything. For example, when trying to sell your product, imagine doing something as disgusting as talking with your mouth full, or chewing with your mouth open. This can diminish your chances of selling your product. Your buyers might see you as old-fashioned and crude. That is why you always follow this set of proper etiquette rules as an entrepreneur. Never do anything that might lessen the chances of making a deal. 

I learned quite a bit today about all sorts of parts to an entrepreneur. STEM can really help to develop your product and make your life easier. For ideas to become a reality, communication is another key attribute the entrepreneur should possess. I also understood that being creative might very well get you a buyer, and also never let others negative opinions of your product should put you down. Finally, without proper etiquette you could ruin your chances of building and selling your project. Well that is it. Hope you enjoyed reading this blog on the Day 2 of the Global Entrepreneurial Experience(GEE).