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Finance & Economics Biotech / High Tech Entity
Financing - Raising revenue to pay for a good or service. (Worldbank 2000)
“Fools say that they learn by Experience. I prefer to profit by other's experience." Bismarck
Business, derived from the Old English, bisignes; bisig, meaning occupied and nes, meaning state of being.
Business is an occupied state of being. If you are doing it correctly.
Here is some sage advice
An experienced Biotech Businessman once told me that the best way to be successful with a Biotech Start-Up was identical to that for a Winery, make all your money in something else, and then you can start your Biotech firm without worry.
WHY?
Because if you have enough Cash you can do anything. Good Ideas are a dime a dozen!
‘Military strategy depends for success first and most on a sound calculation and coordination of the ends and the means.’ Liddell-Hart
Why the military references? Because of finance.
Military, derived from the Latin miles meaning solider, and Latin militare meaning to serve as a solider.
Finance is derived from the Old French finer, meaning to pay ransom.
The Old Nobles would fund the conquest of their neighbors by holding those other Nobles and the families for ransom. Ransoms could be food, weapons, slaves or gold. There wasn’t that much gold around.
Mostly they were simply feeding their army.
Military power rests on an economic foundation. Liddell - Hart
Most financial terms derive from Latin, that is, from the Roman Army.
Value, derived from the Latin, valere, meaning to be strong, to be worth.
Cost, derived from the Latin, constare, meaning to stand together.
Mercenary, derived from the Latin, merces, meaning wages.
Salary, derived from the Latin, salarium, being the money given to Roman soldiers to buy salt.
Money, derived from the Latin, moneta, meaning mint
Manage, derived from the Latin, manidiare, meaning to handle, and manus, meaning hand.
Of course economy is a Greek word.
Economy, derived from the Greek, oeconomia, oikonomos, oikos manger, nomia – house. House manager. Managing Public revenue.
What must be managed in financing a company? Who are you paying the ransom to?
RISK
Risk, derived from the Latin, resecum, meaning that which cuts.
Risk is the true four letter bad word in finance. Uncertainty is the corollary to Risk.
Certain, derived from the Latin, cernere, meaning to distinguish, to sift.
The vagaries of the future.
When starting a company you need to ameliorate these bad words.
Well, as best you can. You do that by Planning and then plan again.
Plan, Plan, Plan, then Implement
Implementation is the only I that really matters!
Implement, derived from the Latin, implere, meaning to fill up.
Executive, derived from the Latin, executus, meaning to follow up, to pursue.
The executives are the Corporate Officers. Follow up on what everyone is doing is their jobs by definition. That and accumulating Cash. Cash, derived from the Obsolete French, casse, meaning money box
Remember!
If you have enough Cash (a big enough box) you can do anything. $$$$$$$$ |
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