Why Do Startups Wither: With Dr. Mark Ahn
The Street first brought out this talk with Dr. Mark Ahn of Pukana Partners. It is a talk about how Dr. Ahn believes that biotech startups should manage their business. These companies are wholly unique in the marketplace, and they are going to fail if the management is not thinking in lengthy terms.
Dr. Ahn believes that these companies need to make sure that they have as many sources of funding as they can find. These companies will have to wait months or even years to get their products ready to sell, and having funding coming from a number of sources is going to help the company remain solvent while products are being tested.
When a company is waiting on a long cycle to get their products ready to sell, they must remember that the long term results of this work will be amazing. However, the company may not be hugely profitable until the company has waited its turn to get all its products out there.
When you are considering how you are going to get a startup off the ground, you need to remember Dr. Ahn’s advice. You have to be patient, and you must be willing to wait for the company to turn a profit.