创业与职业化管理

创业与职业化管理PaulContomichalos[简介]百时美施贵宝公司前任董事长兼总裁、百润公司联合创始人及董事长9月24日通过MBA课程的学习，我们明白得了如何高效地运作一个组织，但却并一定能够充分了解如何创业和实施组织创新。而这正是百时美施贵宝公司前任董事长兼总裁、百润公司联合创始人及董事长PaulContomichalos先生在2003年9月24日中欧治理论坛上的演讲主旨。Contomichalos先生与大伙儿共享了他在BMS公司以及新近创建的百润公司中获得的体会，并就职业经理人与创业企业家之间的差异阐释了自己的观点。此外，他还结合制造自身商业模式的过程，提供了一些相关性的建议，要紧包括如何创建新企业，如何形成清晰的思路、建立强有力的团队、树立重视 分析 定性数据统计分析pdf销售业绩分析模板建筑结构震害分析销售进度分析表京东商城竞争战略分析 的意识等重要问题。Entrepreneurvs.ProfessionalManager(ExcerptsfromaspeechgivenatCEIBSbyPaulContomichalos.ContentrightsreservedbythespeakerandCEIBS.UseofthecontentmustbewiththepriorapprovalfromCEIBS.)PaulContomichalos(Biography)FormerChairman&PresidentofBristol-MyersSquibb(BMS)China,Co-FounderandChairmanofProfexInc.Sept.24,2003Asweallknow,whenwe'reinbusiness,it'snotonlysuccessesbutthere'relotsofexperiencesincludingsomefailurethatwecanlearnfrom.ButIwouldtalkaboutandelaborateaboutmyexperienceonthesubjectofEntrepreneurvs.ProfessionalManager.I'vethoughtalotaboutthistopic.Letmestartbysaying,firstofall,I'mverythrilledtobehere,becauseI'veknownCEIBSstartedintheyearwhenIcametoChinain1994,right?Soitwasanearlymoverasauniversity.That'swhyyouhaveakindofgoodfacultyexperience,professionals,greatreputationwhichleadstogreatcareersandgreatjobs.Soyou'reaspecialaudiencebecausefirstofallyou'resmart,becauseyouchoseCEIBS.Andthoseofyouwhodidn'tgotoCEIBSandarehere,youarealsosmart,becauseyouchosetocomethisafternoonorthisevening.IwanttowarnyousomethingthatIliketoaskquestions.EventhoughIhavetheseslides,Istillwanttoasksomequestions.SomeofyouIknow,soImaypickonyouifnoonewantstoanswermyquestion.Letmestartwiththisquestion-whofromtheaudienceknowsme?Andby"knows"letmedefine-Imean,"Haveweworkedtogether?Orhadacoffeetogether,orhadadrinktogether?Letmesee.Putyourhandsup.Nooneknowsme?Howmanyareyou?Letmecount.Ok,soquiteafewofyou.So,asPro.Zhangkindlymentioned,mynameisPaulContomichalos;I'moriginallyfromGreece;BornandgrewupinAthensandthenwenttotheUnitedStatesforanMBAdegree.AndthencametoChina-I'lltalkalittlebitaboutmyexperienceandcareer.ThetopicI'mgoingtobeaddressingisoneI'vespentalotoftimethinkingabout.Andit'sabigdecisiontomake-tomakethetransitionfromacorporatekindenvironmenttoamoreentrepreneurialenvironment.SowhatIwouldliketodoissharesomeofmyexperiencesovertime,whatIhavelearnedin…andalsohopefullywecanboth-yourselvesandme-learnfromtheprocessbecauseIliketoconstantlylearnandgainnewexperience.Solet'sstartbyakindofdefinitionsowe'llhavealittlebitofacommonlanguage,becausepeoplecanusedifferentdefinitions.Whatisaprofessionalmanagerandwhatisanentrepreneur?ThewayI'dliketolookatitisthattheprofessionalmanagerissomeonewithinanexisting,inmanycases,itcouldbeapubliccompany.Itdoesn'tmatterwhatyourpositionis.Itcouldbeamanager,adirector,generalmanager,apresident,CEO…Itdoesn'tmatter.Butit'ssomeoneworkingwithinthisenvironment.Forthebalanceofmypresentation,Iwouldcallthiscompanymanager,thisperson.SowhenItalkaboutcompanymanagerIwilltalkaboutpeoplewithinanexistingcompanyandinmostcasespublic.Now,entrepreneurisnotonlysomeonewhostartsabusinessinmyopinion,oramemberofastart-upteam.Forexample,ifinanewcompany,youarethefirstholdingaposition,you'reveryentrepreneurial.Soitcouldbeamemberofastart-upteam,eitherwithinabigcompanyorpossiblywithinasmallerorganisation.Sothat'showIwillrefertothisandobviouslythatwouldbeanentrepreneur.Let'slooknowattheroleandresponsibilityofacompanymanager.AcompanymanagercanbetheplantmanagerforIBM,orcanbethemarketingheadforL'OréalorBristolMeyer.Entrepreneurisanyonewhoworksinanenvironmentoftheirown.SotheroleIseeasacompanymanageristodoeverythingwithinyourcontroltomaximisevaluetoshareholders,right?Thatiswithintheareaofyourresponsibility.Soyouworkinateamwithothermembers.Andyouhaveadefinedareathatyouareresponsiblefor.Nowwhenyouareanentrepreneur,it'squitedifferent.Becauseentrepreneursbuildbusinesstofulfillpersonalgoals.Thatisthereasontheycreatebusinesses.That'squitedifferent.It'snotgoodorbad,onlydifferent.Let'slookatthescopeofacompanymanagervs.anentrepreneur.Forexample,let'stake,whichcompany,let'stakeDell,DellComputers,today.Thewaytheydefinetheirbusiness…ifyouareworkingforthemyou'llseewhatbusinessisDellin-computers.Sotheyareinthecomputerbusiness.AndwhatisthecorecompetenceofDell?Supplychain?Anythingelse?Service?OKSoifyouareworkinginChinaforDell,youworkwithinthisenvironment,thispre-definedframeworkorparameters.IfyouareworkingforDellinChina,youhaveanideaofcreatinganInternetcoffeeusingDellcomputers,doyouthinkheadquarterswouldbuythisidea?I'mnotpickingonDell.Butit'svery,verydifficultbecauseyouworkwithinadefinedframeworkwhichhasbeensetbythecorporationyou'reworkingwith.Andthat'syourown.WhenMichaelDellstartedDell,hewasanentrepreneur.Infact,hewasquintessentialentrepreneur.Andatthattimehedefinedwhatthecompanywouldlooklike,whatcapabilitiesthecompanywillhaveandsoon.Idon'tknowMichaelDell,Butheprobablythoughtatthattime,whatbusinessdowewanttobein?Becausethesewasanunlimitedopportunityofbusinessesforthemtobein--andsubsequently,whatcapabilitiesdoweliketodevelop?Thosearethequestionstheentrepreneuraskswhicharequitedifferentformthequestionsacompanymanagerwillask.Andagainfortheentrepreneurtheoptions,thinkaboutit,arevast.Becauseyouarecreatingsomethingfromscratch.Sotheoptionsastowherewewanttoplay,whatarethekeycompetencieswewanttodevelopareunlimited.Andthat'swhyitisoverwhelmingsometimes,becausethemostdifficultthingtodoistodecidewhatnottodo,notwhattodo,becausetheopportunitiesarevast,sosometimesdecidingwhatnottodoismostdifficulttodo.Inanewcompanybeingfocusingandinsuringthesuccessofthethingswedoisthemostimportant.Let'slookalittlebitmoreindepthateachofthesetwoareas.Let'sstartwiththecompanymanager.AndIhavespent15yearswithBristolMeyerSquibb,haddifferentpositionswiththem,butwithonecompanyworkingindifferentcountrieswithdifferentjobs.Ihaveseenalotoftypesofpeoplewithinonecompany.I'veseenbureaucrats.Whatisabureaucrat?Bureaucratissomeonewhowhateveryoutellthem,theysayitcan'tbedone,right?Or,cannotfindthewaytodoit.Sowehavealotofbureaucrats.Wehavepeoplewhosayit'snotmyjob.Youtrytodosomethingandtheyonlylookattheirjobdescriptionvery,verystrictlyandtheydonotwanttogoevenastepbeyondthat.Becausemaybeit'srisky,maybetheydonotwanttotakethatrisk,ormaybetheyarelazy.Sowehavethosetypesofpeople.Whataretheotherpeoplewehave?Wehavethosewhowanttokeepthebosshappy.Sotheyanticipatewhatthebosswant,soIgivethemwhattheywant.Sowehavethosepeopletoo.ItgetsbetterIguess.Wehaveefficientmanagers.Whataretheefficientmanagers?Theyarepeoplethatdothingsintherightway.Whentheyhaveatask,theywilldoitwell,andtheywilldoitintherightway.Andthoseareabsolutelycrucialtoanyorganisation.Wealsohaveseenthatwehavebusinessbuilders-peoplethatfindnewwaysthatcreatebusinesseswithinbigcompaniesandobviouslyifyou'reworkinginChinaandyou'rethefirstoneinChinastartingabusinessiseasier,butagainwehavepeoplewehavethemindsetofbuildingorcreatingbusinesses.Andwealsohavepioneersandpeoplewhoareveryentrepreneurialwithinbigcompaniesorsmallcompaniesbutanywaycorporation.Wehavepeoplewithanentrepreneurialmindandapioneeringkindofspirit.Sowecanseeallkindsofpeople.AndIguessifyouaresittingintheaudienceyouthinkyouaretowardstheleftofthis,neverthinkaboutbecominganentrepreneur…staywithabigcompany,becauseatleast…maybethereisawaytosurvive.Butifyou'reontheright,youliketobuildthings,youliketocreate,youliketoinnovate,maybeatsomepointofyourcareer,it'sarightthingtolookatanentrepreneurialkindofjob--startingacompanyorbeingpartofthestart-upteam.Obviously,weallknow-alotofyouhaveputupyourhandsandyou'reworkingwithbigcompanies-thebenefitthatwehavecanbequitelucrativeandalsorewarding.So,wehavegenerallypackagesalarycompensation.Ifwe'redoinggood,ourcareerdevelopmentisusuallyquitegood.Wecangetpromotion,becausecorporationsorbigcompanieshavealotofbusinessesthatwecangetpromotedin.Andthereisrelativejobsecurity.Iputtheword"relative"becausethereisnosuchthingasjobsecurity.Butatleastifyouareworkingwitha20-billiondollarcompany,chancesaretheywillbearound.Youneverknow.Sothereislowerrisk.Thereisgenerallyverygoodtraining,exposuretonewareas,itsprestige,imageworkingforagoodcompanynodoubt.Andthenvery,veryimportant,wehaveaccesstoalotofresourcesofthecorporation.Thatisprobablyforthoseofyouwhohaveventuredouttobecomeentrepreneurs,orthoseofyouwhowilloneday,you'llfindthatissomethingsometimeweunderestimatethecorporateresourcesandthesystems,structuresthecompanymayhave.Soinsummary,generallyspeaking,ifwe'reperformingwell,ifwe'redoingwell,wehaverelativelygoodpackagewe'reofferedasamember,aperformingmember--I'mnotsayingpeoplethatdon'tdotheirjobs--butifyouareperformingandperformingadequatelyinabigcompany.Nottoobad.Now,question-beingacompanymanager,whomisitfor?Everyone?Somepeople?Whatdoyouthink?Shareholders?OKWhyisn'titforeveryone?Ithinkitis.Thoseareallcorrectpoints.Itdependsonwhenyouareinyourcareerstage.ButIfirmlybelieveit'sforeveryone.Becauseeveryoneshouldgainexperience…andyouknowyoucanargue,"Whydoyousaythat?"BillGates,IthinkhedroppedoutofschoolorwhateverandstartedMicrosoftandheisnowtherichestpersonintheworld.Sowhyshouldpeoplegothroughorhaveacorporateexperience?Yes,buthowmanyBillGatesarethereandhowmanypeoplewhodidthatyoudon'tknowaboutbecausetheyendedupprobablynotdoingtoowell.Therearealotofthoseexamples.Thestatisticsshowthatpeoplewhostartcompanieswiththerelevantexperienceandtrackrecordgenerallydomuch,muchbetter.Soyouareherebecauseyouhavethoughtabout,maybeyouhaveinminddeliberatedentrepreneur,yousaidhowdoescompanylifecomparewithentrepreneuriallifeorbigcompanylife.SoIguessakeyquestionisforhowlong,orisitforlife?I'vetalkedwithalotofpeoplethatsayI'vebeenthinkingaboutstartingabusiness,buttheyhaven'ttakentheaction.Andit'sadifficultdecision.Sothat'sakeyquestionIthinkforeveryoneatsomepointinyourcareer.It'sprobablythebiggerdecisionyou'llhavetomakeinaway.BecausethegoalfromIBMtoDell,fromL'Oréaltoacompetitororsoon,orfromBristolMeyerSquibbtoJohnsonandJohnsonisarelativelyeasierdecision,becauseifyouareworkingwithinanenvironment.Butstartingacompanyisabiggerdecision,andusuallyyoumakeitonce,becauseeitheryousucceedyoucontinue;youfail,thenyoudosomethingelse.Soit'savery,verybigdecisioninallourcareers.Let'sturnfocustotheentrepreneurandlookatentrepreneur…Letmeremindyou,anentrepreneurissomeonewhobuilds,ifyoubuildyourownbusiness.Again,hethinksaboutatwhatarea,whattypeofbusinessandwhatcapabilities.Butthekeyisyoudoittofulfillneedsandgoals.Theoptionsareunlimited.Sothescopeofthiskindofventureisreallyvast.Itcanbeattimesoverwhelming.Now,Ifirmlybelievethatthemostimportantthingthatpeoplestartedbusinessesorarepartofteam,theydon'tknowwhytheyaredoingit.LetmeexplainwhatImean.Thisisnotmyopinion.ThisisfromsomereadingI'vedone.Peoplequotethefollowingreasonsofstartingabusiness.Oneistocontrolmyowndestiny.Andthesecondismakemoney.Now,againthisisfromsomereadingI'vedone,thesereasonsareextremelygeneralandvague,becausewhatdoesitmeantocontrolmydestinyormakemoney?Youhavetogodeeper-peeltheonion,asIliketolookatit.Socontrolmydestiny.Whatdoyouwant?Thesatisfactionofalong-termcreation?Youwanttowritehistory,dosomethingnew,novel,pioneering?BecomeacasestudyatCEIBSbecauseyoucreatedsomenewbusiness?Youwanttobetheboss?Becausesomepeoplesay,"Iwanttobetheboss,myownboss."Doyoudoitbecauseyouwantaflexibleschedulesoyoudon'twanttohavetogowork9-5?Andthenwhatsacrificedoyouhavetomakenowthatyouarepreparedtomakethem.Theseareveryimportantpoints.Iwilldiscussthemalittlebitmore.Makemoney.Peoplesay,"Oh,Iwanttogetrich."Whatdoesitmean-makemoney?Youwanttomakequickmoney?Moneyimmediately?Youwanttomakeenoughmoneytobeabletomaintainyourlifestyle?Havingyourcarandservantathomeorwhatever?Oryouwanttomakebigmoney,hugemoneylater.Thosequestionsarevery,very,veryimportant.Youmayfindifyoutalktopeopleormaybeifyouthinkofyourselfyouneedtounderstandwhy.Becausethatwilldrivewhattypeofbusinessyouwanttostartandsoon.AndletmeexplainwhatImeanbythat.Thesearevery,verydifferentreasonsforpeopletostarttheircompany.So,whenandonlywhenyouhavedecidedthe"why"andyouhaveclarifiedandcrystallisedinyourmind,thenyoulookatwhattypeofbusinessdoyouneedtobuildorbepartoftofulfillthegoalsyouhave.Andthereare3typesofentrepreneurialventuresI'dliketocallthem.Thereisquickprofit.AndI'lltalkaboutit.Sothereisaquickprofitentrepreneur.Thereisalifestyleentrepreneur.Andthereisasustainablevalueentrepreneur.Very,verydifferent,andI'lldiscusswhy.Youmaystarttogettheidea.OK,let'slookattype,sizeandsoon.Let'sstartwithquickprofit.Whatcouldaquickprofittypeofcompany?Anyone?Restaurant.OK.Let'ssee.Tradingisanexample,right?Import,export.Thesizeisasmall-scaletypebusiness.Thatreliessquarelyonthefounderorthefoundersofthecompany.Andyouhaveimmediatemoney.Forexample,ifyouhaveafriendinSingaporeandthey'relookingforrefrigeratorinChina-Ijustmakeitup-andyouknowsomeoneinChinayoufindthesource;youbuyitinoneRMB;yousellitinoneandahalf.Youmakequickmoney,right?Immediatemoney.Youdon'tinvest.That'sanexampleofabusiness.Obviously,that'saverysmallscalebusiness.Buttheycouldberestaurant,theycouldbeotherbusinesses.Businessisbasicallythatyoudon'tneedtoinvestalotbehind.Now,lifestylecouldbeservices,couldbeanadvertisingcompany,couldbeaconsultingcompany.Again,relativelysmallscaled.Bytheway,alotofthesebusinessescanbecomebigbusinesses.Don'tmisunderstandme.Butstatisticsshowthatmostofthesebusinessesremainsmalltypebusinesses.Yes,therearebigcompanies.Butthemajorityofthestart-upsremainsmallcompanies.Why?Becausetheyrelyonthefounders.Andtheydon'tbuildthescaleasisnecessary.Inthiscase,thepayoffisenoughmoneytomaintainthelifestyleIwanttohave.Nowlet'slookatthesustainablevalue,whichisaquitedifferenttypeofcompany.Now,hereitcouldbeinanyarea.Anditcouldbeatrading,animport,exportorservicecompany.Butitisanybusinessthathasproprietaryassets.Somevaluethatcouldbeprotectedovertime.Whatcouldbeproprietaryassets?Patents?Exactly.Trademarks,newtechnologythatyoucanprotect.Abrand.Ifyoubuildabrandinconsumer,itcouldtakealittlelonger,butifyoubuildaverystrongbrandname,youhavethatproprietaryasset.Oritcouldbeanetworkofcustomersthatyouhavesomerelationshipthatyouhavebuiltovertime,andsoon.Butyouneedtohaveaproprietaryasset.Again,herecompaniestendtogofrommedium-sized-theydon'tstartasmedium-sized,buttheyhavethepotentialtobelargecompanies.Again,hereyoudon'trelyonthefounderorthefoundersofthecompany,butyourelyonthestart-upteamandtheinfrastructure.It'sadifferenttypeofanimal.Iguessthepayoff…Iliketothinkaboutitastheimmortalityofcreation,thefactthatyoubuild,youcreatesomethingthatlastsforalong,longtime.Andsomethingthatisvery,veryimportantis,thereisbigpayoffasfarasmoneylaterthroughsellingthecompany,orthroughhavingsharesofthecompanythatbecomesverybig,inmostcasespubliccompany.So,youcanseethatthesearevery,verydifferent.Andagain,letmereiterateitdoesn'tmeanthateverybusinessthatisserviceorimportfallsinthiscategory.Butagain,generallyspeaking,it'sthosetypeofcompaniesthatfallintheQuickProfitandLifeStylearea.So,thinkaboutthepreviouspointthatIwasmakingaboutthe"why".Whydoyouwanttostartthecompany?Youneedtobeveryclear.Becausetheseareverydifferent.Andletmeshowyousomethingwhichisveryimportant,andalsoit'sthetoughestpart,whichisthequestionwehavetoaskandbeveryhonestwithourselveswhenweaskitthengiveanhonestanswer.Iwillpreparefortherisksandthesacrifices.Sointhequickprofit,clearly,tostartacompanyyouhaveajobnow,soyouhavetoforegothecurrentjob,thepackageyouhave.Andyouhavetobedevotedtoyourbusiness.Risks,personalcapital,right?Becauseyouneedtoinvestsomeofyourpersonalequityincapital.Verylongcommitmentandhoursofwork.Andsometimesmaybeleadingtothequestionofgrowthpotential.Becauseyoumaybuildabusinessbutthen"howdoyouscaleit?Howdoyougrowit?"maybeanissueinthistypeofcompany.Alsoaverybigriskisthatthevalueofthecompanyisthefounderorthefounders.Forexample,youhavecreatedasmalltradingcompanythatismakingmoney.Andthenallofasudden,Godforbid,yougetsick,oryouburnout,orsomethinghappens.It'svery,verydifficultforthatcompanytocontinue.It'sverydifficultforthecompanytobesold.Soyoucanbelockedin.Youhearalotofstoriesofpeoplethatgetlockedinthecompanytheybuild,becauseeverythingrevolvesaroundthemsothecompanycannotbesold,thevalueisyourself.Sothereisreallynodifficultexit.You'reinthisarea,youremainsmall-scaled.Let'slookatLifeStyle.Again,here,it'sprettymuchthesameasthefirstcategoryasfarasthesacrificesandtherisks-thesameissueshavetogothroughyourmind.Thethirdarea,whichisinawaybiggerscaleinawaysustainablevaluecompany…Again,inthesacrifices,same.Youhavetosacrificeyourcurrentjob,thepackageyouhave,thecomfortyouhaveandsoon,devoteyourselftothebusiness.Butwhereit'squitedifferentisintherisksarea.Becausehere,youhavetothinklong-term.Thereisnoimmediatepayoff.Youhavetothinklongerterm,becauseyou'recreatingandbuildinganassetovertime.Soyoumakealong-termbet.Youneedtobefullyawarethatit'salong-termbet.Anditmaytakeafewyears.Second,thereissignificantcapitalthathastobedevotedandtiedupbehindthebusiness.Andthenthecontinuedinvestment.Youreadandhearaboutentrepreneursthathavestartedtheircompaniesthatarebuildinganasset,aproprietaryassetthathassustainablelong-termvalue.Thereiscontinuedinvestment.Peoplehavetohavestayingpower.Theyhavetobepatientandnotloseconfidenceandalsoahightoleranceofrisk,becausethereisnotonetimerisk,butthereiscontinuedriskinthebusiness.Soyouneedtobethattypeofperson.Otherwise,ifyoustartacompanylikethis,orifyou'repartofateam,youmaynotbehappy,oryoumaybemiserable.Soifyoustartthecompanythattakestimetobuild.Andyouarethinkingmoneydayone;oryou'rethinkingofhavingthepayoff…orthepayofftoyoubeingimmediate,youarewrong.Soyoumaybedisappointedandgiveup.So,that'swhyit'sveryimportanttoknowexactlythe"why"beforeyouventureout.Ifyoulookatmostnewcompanies,thereasontheydon'tsucceedisbecausetheylosepatience;theyloseconfidence;theyrunoutofmoney.Sothosearesomeofthereasonsthatprobablyhavenotbeenthoughtthroughwellatthebeginningofwhypeopleareventuringinstartingacompany.Andagain,here,onepointIwanttomentionisthedifferencebetweenproprietaryassetsthatItalkedaboutbeforeandhustle-entrepreneurialhustlesoyoucanhustletodoalot.Butthosecompaniesstayinsmallscalewhenyou'redoingeverythingyourself.Andyou'renotbuildingsustainablevalueovertime.ThenI'llnowfocusalittlebitontherightsideandtalkaboutacompany-entrepreneurialstart-upcompanythatfallsintheright-handsideofasustainablevalueandtalkalittlebitalsoaboutmypersonalexperienceinit.Sowe'llgoabitmoreindepth.Sobuildingaproprietaryassetthathasdurability.We'vetalkedaboutwhat'resomeofthoseproprietaryassets-pharmaceuticals,couldbepatents,brandname,thefamousbrandsthatcomeupyourmindwhenyouthinkaboutanyarea-clothingorshoes…NikeorCoca-Colathosebrandsthatcometomindandhavebuiltequityovertimearehuge,hugeassetsthatthosecompanieshave.Andyoudon'tneedtobecomeaCoca-Cola.Youcancreateanichethatpeopleareloyaltoyouandthinkyourbrandhasthevalueandisthebest.Andthirdly,specialisationisvery,veryimportant.Youcanspecialiseinoneareaandbethebestinthatareaandcreatebarriersforothercompaniestoenter.Sothat'saanotherway…oracustomergroup.Sofirstyouneedtohaveaveryclearmindofproprietaryassets.Second,thecompanyneedstobebigenoughtoattractateam,becausewesaidinthisareaifyouwanttobuildasustainablecompanyyoucannotdoityourself.Youneedateam,youneedpartnersandyouneedinvestorthatarewillingtosupport.Unlessyou'reabillionaireyourself,youneedsomeinvestmentifyou'retobuildacompanythatwilllastovertime.Andsecondlytheinfrastructureisveryimportant.Youneedtobebigenoughtohavetheinfrastructure.Becauseifyouareaone-manoperatoryoucannothavetheinfrastructureandthenyoualwaysrelyonyourself.So,proprietaryassets,bigenougharea.Butyoucannotbetoobig.BecauseifyoutrytogoagainstthegorillasoftheindustryasIsay,chancesaretheywillcrushyou.Soit'simportanttofindareasthatarebigenough,thatyoucandothis.Butnottoobigtogetintothenoseofthebiggerguys,becauseyouarevulnerableatthisstage.Soit'simportantmaybenottobetoobig,ortoplantobetoobig,atleastinitially.Iguess,toillustratethis,IwillusetheexampleofProfex,whichisourcompany,andtalkabouthowtobecomeanentrepreneurandstartourcompanyProfex.AndIdon'twanttousethistotalktoomuchaboutProfex.ButthecompanyisthefirstinternationaldermatologycompanybasedinChina.Soit'sinternationalfocusinthedermatologyareabasedinChina.Sothatwastheideabehindthecompanythatwefoundit.Anditisnowinitsthirdyear.Letmetalkalittlebitabout…lookatmyself…becominganentrepreneurandalsostartingthecompanyProfexandIwillusesomeexamplesofthecomp