The most challenging module

Entrepreneurship Module

This is the third month of the BeST programme that I joined. It began with communication module, and followed by technical module and now is the time for the most challenging module which is entrepreneurship module. Why I said so? It is because this module is the one which I waited most from the first day I joined this programme.

I want to set up my own business in the 5 years of time. Therefore, I really hope that this module will equip me with all the knowledge on how to set up a new venture successfully.

From this first week of this module, what I found was, the most important thing that ensure the successful of a business is the strong and feasible business plan. A business plan is made up of 4 important element which are the marketing plan, technical or operational plan, organizational plan and financial plan. All these 4 elements are important because they are the core elements in a business and they are the bench mark of a business whether it is feasible and can make money from it.

The moment we decide to start up a business is actually the moment which we are willing to take any risk that will come as a complete package with the business. However, when there is a risk, do not worry, there must be a return.Perhaps a good return. Hence,now work very hard with the business plan, and wait for the good return later.This is what I learned from this first week of the entrepreneurship module.

In today's world, there is a lot of new business mushrooming everywhere worldwide. Although there is a lot of them, very few can maintain and sustain their business. Why? It is come back to the business plan, if it is good where it is showed clearly our profit margin, the break even point, how we forecast our target market and sale, who are the target market, how much we can penetrate the market share by competing the big players in the industry, and so on, it is very sure that the business can be sustained and in fact, generate exponential income to the owner.

To set up a business, beware, because it needs a lot effort to put on and also a lot of time and hard work otherwise it is just a dream and will remain as a dream forever.

Discovery of a new drug

Have you ever think how people discover a new drug?

Every day around the world, many people will sick. No matter how worst it is, they still need to take medication to recover. Do they ever know what the medicines that they consumed are? How safe the medicines are? Do they really cure when they have that medication? Do they concern whether it is placebo or original drug?

Don’t worry people..

Because why? Yes, you can know what the medications that you consumed are. How? Just a reminder, you need to check the label outside the packaging and also ask your doctor who prescribed the drug to you. Moreover, yes, the drug is safe and proven that it is safe. Why? For a new drug to be marketed, it has to go through a long and hard procedure. Let me let you all know how a new drug discovered. The discovery of a ‘sexy’ molecule which later will become the drug is not as easy as ABC because our scientist put a lot of time and their effort to find the most important and desired molecule. It will take many years before they found it.

Furthermore, after they discovered the so-called ‘sexy’ molecule, it will not stop there because various steps and procedures that need to go through in order to turn it into a safe new drug. There is where the new drug has to undergo animal lab testing and clinical trial which comprise of 4 phases and again, it will take several years. Again, it is take many years  and guys, it is not a simple test.

The most crucial time of the new drug development is where the clinical trial takes place. Why is it? When we defined the term of clinical trial, it is always refer to a testing something on human being. Yes, the drug has undergone animal lab testing, and if it is successful test, it will proceed to the clinical trial. However, whether it is safe on animal, it doesn’t mean that it will safe to human being yet. Therefore, the people who volunteered to be the subject in a clinical trial, they are brave people who would face unknown risk. Pity them, right? Don’t misunderstood on this situation because those people are helping usactually and we should thank them for that.

After that, when the new drug successfully tested on animal and human being, it will  be marketed to the consumers especially the patients. Then again, please thank the people who take part in the  process of discovery of the new drug especially the so-called ‘human guinea pig’ which is the clinical trial’s subject.

We need to protect our Intellectual Property.

What is the Intellectual Property (IP) ?

IP is a term referring to a number of diverse types of creations of the mind for which property rights are documented. Under intellectual property law, owners are permitted certain exclusive rights to a variety of intangible assets, such as musical, literary, and artistic works; discoveries and inventions; and words, phrases, symbols, and designs. Furthermore, common types of intellectual property include copyrights, trademarks, patents, industrial design rights and trade secrets in some jurisdictions

In Biotechnology field, it is important for the scientists to aware about their right to protect their new idea, new invention, or new discoveries. Besides that, it is normal for the scientist to PATENT what they discovered because there is value and need to be theirs forever. Typically,a patent is not a right to practice or use the invention. Rather, a patent provides the right to exclude others from making, using, selling, offering for sale, or importing the patented invention.

Moreover, in order to protect the IP, the term Trademark was also used. The term trademark is used informally to refer to any distinguishing attribute by which an individual is readily identified, such as the well known characteristics of celebrities. When a trademark is used in relation to services rather than products, it may sometimes be called a service mark, particularly in the United States.

 

The Intellectual Property Corporation of Malaysia (MyIPO)

As the world getting advance and advance, Malaysia also on the track. Although Malaysia still out-dated in certain areas, in terms of protecting our IP, I can say that, we are quite aggressive. It is because, we have our own IP protection law in Malaysia which is known as MyIPO. Besides that, Malaysia is also a signatory to the Agreement on Trade Related Aspects of Intellectual Property Rights (TRIPS) signed under the auspices of the World Trade Organisation (WTO). In addition,  Malaysia provides adequate protection to both local and foreign investors. Malaysia's intellectual property laws are in conformance with international standards and have been reviewed by the TRIPs Council periodically.

After listened to the talk delivered by Associate Professor Dr Rohazar Wati Zuallcobley, I realized that, a lot of things in our daily life should be protected especially the thing that related to the IP. Sooner or later ,there might be a lot of new invention or knowledge which discover by Malaysian, therefore, take the step to protect it otherwise we might lost it forever.

Workable Business Idea need 3 things..what are they?

Important or Interesting..

First and foremost..

Ask yourself whether your idea is important or interesting because these two different words carry different meaning. If the idea is important, for sure if we implement it, it will be very important to us in terms of what it can give us as well as its benefit to us? However, if your idea is interesting, do not be sad because it is still has its own unique value on it, but for the people to implement it, it might not be the first. Furthermore, if your idea is important and interesting, it is awesome because the chance for it to be implemented could be higher.

NABC analysis.

N = Need

A = Approach

B = Benefit

C = Competitor

In order to start up a new business, we have to do some analysis and one of it is NABC analysis. It is very important because this analysis will ensure your business become viable all the time. If you are not aware of this important part, according to DR Roland Xavier, you MUST die sooner or later. Running a business is not as easy as you cook a dish for your dinner because the one, who has all the courage and brave enough to take the risk that might come, is the one who will success in their business.

Elevator Pitches

Just a few words in the limited time, the dream come true!

HOW?

The next step for you to bring your business idea to the reality is by using elevator pitches concept, you may did it. For instance, imagine that you are in the elevator together with somebody who you do believe will invest into your business, try to say some words to attract him/her to offer you to have an appointment with them to discuss further about your idea. BE SMART and FAST, you will get what you want.

Trip to seek knowledge

Trip to InnoBiologics.

On 5^th January 2011, I went to InnoBiologics company in Nilai,Negeri Sembilan. It was an informative trip because I just not went there for a trip, but also to seek knowledge.

This company is a pharmaceutical company which have been set up under Ministry of Finance and supervised by Ministry of Science Technology and Innovation. As Malaysia move towards an industrial country which Biotechnology is one of the key drivers, InnoBiologics company was set up at the right time.

InnoBiologics main business is developing the cell line project which involves the production of monoclonal antibody and also projects on stem cell research. Besides that, it also has an innovation centre which provides service for the parties who want to start up a business in pharmaceutical industry.

We can say that, the government’s goal which  to encourage people to start up a business  in Biotechnology field is on the track because as we are moving towards WAWASAN 2020, the growth of the Biotechnology entrepreneur is also increasing from time to time. It shows that, Biotechnology can be a great business field nowadays. Moreover, the society become more sensitive to the importance of Biotechnology since it had provide many solutions to the problems that we face currently.

I am eager and proud to be the part of the people who will be the solution provider in very soon after I graduated from the BeSt programme. WORLD, wait for my great invention!!

Another soft-skills..problem solving technique..

Profesor Barjoyai bin Bardai

I never expect that Profesor Barjoyai is a person who has a lot of experience. I never expect that he has a lot of stuff that can be classified as great invention. Since attended his class, then only I know, Malaysian is quite out dated in receiving technology which in the foreign country, all the technology were widely used. 

The past is past, and now, Malaysia is towards WAWASAN 2020, so, after this, we are the one who inventing the new technology to the world instead of receiving the technology.

New idea..You can cook Nasi Beriani in your microwave oven and it will ready only for 10 to 15 minutes.Awesome right?? Technology is making our life easier from day to day..

Doodling

Do you know that, doodling can help you to solve your problem?How?Frankly speaking that, I just know this fact after attended the Profesor Barjoyai's class. 

Doodling is an activity which you need to think of your problem deeply and at the same time, you paint it in a piece of paper with colors. Lets your finger move the color freely and never force the thought to come up from your mind. Surprisingly, you are actually paint your problem and also the solution for the problem in your painting.Besides that, from the painting as well, you can define the internal characteristics of yours that you never realize it before.

As a science people, when I saw a drawing or painting,I just saw it as a drawing or painting without knowing that it is carry a lot of meaning which hiding behind it. However, when an artistic people saw it, they actually can help us to solve our problem just from do some analysis and interpretation of our drawing or painting. How amazing it could be!!

 

Anyone who gave you confidence,you owe them a lot..

 Not afraid anymore

The decision that I made to join BeST programme was a great decision. Due to this great decision, I am now feeling that I am a great person. I owe a lot to all the trainers who gave me self-confidence from all the session that they organized and managed very well.

Without the confidence, I believe that I would not able to do many things which need a lot of courage and at the same time need high confidence or otherwise I am no one.

I can say that from the first interesting module which is the communication module, BeST programme deserve to be rewarded and also the trainers who are successfully turn me into a better person.

I am eager to carry on this programme with second module because I want to be better and better.  I expected to gain more skills, more information, and perhaps more confidence in the next module.

I will owe more to BeST programme, however I will pay back later with my success and victory in my career. With God will.