Imagine you have experienced multiple failures in your business and yet you are still in this entrepreneurship journey because you have a strong mission and a strong vision.
In Episode 026, Jack has invited Ira Pastor, the CEO of Bioquark Inc. and he would be sharing with you how he started his entrepreneurship journey from a young age, and chose to leave the comfort of a multi-billion dollar industry and started Bioquark just because he loves "risks". He will also share two personal stories about how to overcome the fear of multiple failures in his career because of his right mindset supported by his mission and vision.
Why did Ira join the Biopharma industry?
"I saw [my parents] taken from me by cancer and lung disease and heart disease and things of this nature and growing up in an industry that is supposed to take care of sickness. I was very dismayed by the fact that the pharmaceutical industry was incapable of curing them at the end of the day and helping them and keeping them away from the grasp of death. I'm not only sort of the desire to do something different, but at the same time something real in my face. And I believe that the balance a bit between the amount of risk or willing to accept and move forward with."
Consider the external environment in your industry
'Even if you are successful in developing that new miracle cure for cancer or heart disease, you still have a whole area of so called regulatory risk. That regulatory agency may just send you back for a couple years to do XYZ and hence you need another hundred million dollars to do so forth and so on. And I've been in that position before. And you can't say no."
Accepting that failure can come anytime
I went through M&A events in the past and even I've experienced the eleventh hour negotiations, everything's ready to sign, but then for some reason you're agreeing to a $20m buyout, but all of a sudden somebody thinks in the very last hour that your company is only worth $16m. Why does that happen? I laugh at it in the sense that I guess it's all part of the power game that a larger organization likes to play. And you know you can't walk away from the table at the eleventh hour and you have to smile."
Passion can be found by connecting your dots in the past
"My passion when I was five was comic books and superheroes wanting to see the future develop science fiction. Though I think of those things as childish, I still sit with my children and I watched the future unfold in fiction and I read comic books with them and I take them to the movies. Why? Because whether it's today or whether it was 40 years ago when I was a toddler, I loved how the future and not just the current future but in the distant future could be created with a little science, technology and innovative foot. So maybe today you're worried about paying the bills and you have this problem here and you're taking care of her mother and you don't. Maybe you're clouded by your thinking. But underneath that, cloud is still your history. It is still that everything you grew, desiring what made you happy when you were younger. And I think if you dig into that, I think you can become aware and reawaken some of that potential and you might find, hey, that you loved cooking when you were younger or you loved, you know, construction and here you are sitting in that finance office in wherever making a lot of money, but it's not what you really, really wanted. And so I say, go to the past, look to the past and remember who you were, who you are still inside, and try to dig up those nuggets of possibility."
Want to know more about Ira Pastor and Bioquark Inc.?
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In Episode 014, Jack will share with you the definition of an entrepreneur which he learned from his coach and mentor, Alex Mandossian (world renowned internet marketer) many years ago. He will also elaborate the risks associated with trying to solve every problem you clients have without seeking help from qualified people in your circle.
In Episode 013, Jack would like to have a conversation with your subconscious mind, i.e. why drives you to consider an entrepreneur and get out of the rat race. You’d better have strong reasons to support your decision or else chances are you will be going back to your safety net, i.e. the corporate world. Jack also discusses two reasons why he decided to jump out of the plane and become an entrepreneur.
In Episode 012, Jack shared a real-life story of how he used the Ultimate Passion Discovery Formula to help a person who interviewed him in an event he spoke in Bangkok, Thailand, to uncover his passion. As a teacher and leader, Jack lives by example and demonstrates the application of what he teaches in the real world. Hope you enjoy this real case study.
In Episode 011, Jack will share with you two of his own recent examples to demonstrate how he applies the principle of responsibility he discussed in the previous episodes. The truth of the matter is “talk is cheap”! As a leader and a teacher, you have the walk your talk and lead by examples. Hope you enjoy Jack’s sharing in this episode.
In Episode 010, Jack will share with you one common question from many entrepreneurs who have just started making the offer of their products and services, i.e. how to raise the price with a view to increasing the sales revenue? From Jack’s own experience, it is not too difficult to do this because he has gone through a process by his mentor in 2015 when he visited in the United States of America. Interestingly, the process takes only a few seconds to complete. Believing is seeing and hearing. So, listen to this episode carefully and adapt Jack’s example to your own situation and test it out. Will it work? Only you can tell. Of course, Jack has tested it and found that it worked in his own situation. Remember what responsibility means to you. So do you do whatever it takes to make it happen and create success for yourself?
In Episode 009, Jack will discuss one key success factor in your entrepreneurship journey, i.e. your ability to sell. A certified trainer and coach of Blair Singer Training Academy, Jack has learned from his teacher and coach, Blair Singer who is the RichDad Advisor for Robert Kiyosaki in sales and team development, that the most difficult person to sell to is “yourself”. So, the question is how do you overcome this fear of selling to yourself? Jack will share with you one exercise he learned from his mentor to help his client overcome such a fear. Here is the advice – please practice the exercise before you move on to the subsequent episodes. It is mission critical for you to internalize the application of this exercise. Enjoy the process.
In Episode 008, Jack will use another method he learned from his business coach to take another perspective of examining the definition of responsibility. When you hear someone say “I will do whatever it takes”, what does this exactly mean? Why is “doing whatever it takes” is more powerful than “doing your best” or “try your best”? Again, Jack has made the necessary distinction in this episode to help you understand the concept of responsibility.
In Episode 007, Jack shares with you one important ingredient of success in your entrepreneurship journey, i.e., by taking responsibility to create your own success. The question is “what’s responsibility?” and how do you apply this in your life? Jack will also share with you what a simple formula he learned from his mentor many years ago to help you clarify the concept of being responsible for your own success.
In Episode 006, Jack will continue the discussion of the question “What is my passion”? In particular, Jack will share with you his Ultimate Passion Discover Formula that helps you uncover your passion within. It’s a simple 4-step process and to help you understand further, Jack has provided his own examples.