the entrepreneurial chemist: bridging the bench and the ... · 7/9/2015 · the entrepreneurial...
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7/8/2015
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7/8/2015
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Upcoming ACS Webinars www.acs.org/acswebinars
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Contact ACS Webinars ® at [email protected]
Thursday, July 23, 2015
“The Creator’s Code: The Six Essential Skills of
Extraordinary Entrepreneurs”
Amy Wilkinson, Strategic Adviser and Entrepreneur, Stanford Graduate School
of Business
Brian Morin, President & COO, Dreamweaver International
Thursday, July 16, 2015
“Catalyzing Innovation through Molecular Design” LIVE From the Green Chemistry & Engineering Conference
Brian Laird, Professor of Chemistry, University of Kansas
Anthony Rappé, Professor of Chemistry, Colorado State University
Joe Fortunak, Professor of Chemistry, Howard University
10
www.acs.org/acswebinars www.acs.org/acswebinars Slides available now! Recordings will be available to ACS members after one week
“The Entrepreneurial Chemist: Bridging the Bench and the Boardroom”
Co-produced with ACS Diversity and the Women Chemists of Color Program
Tashni-Ann Dubroy Entrepreneur and President
Elect, Shaw University
Steven Isaacman Co-Founder,
PHD Skin Care
7/8/2015
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Tashni-Ann Dubroy, CEO
The Entrepreneurial Chemist: Bridging the Bench and the Boardroom
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CHEMISTRY
PhD
MBA
Cosmetology
Academia
Women’s
Empowerment
Family
Entrepreneurship
STEM
• Multiple Interests
• Recognizing Synergy
• Grasping Opportunities
• Balancing Time
• Finding a Focus
7/8/2015
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The Entrepreneurial Chemist:
Bridging the Bench and the Boardroom
Dr. Lash Dr. Dubroy
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Recognizing Transferable Skillsets
• Corporate experience is a leading indicator of an
entrepreneur’s propensity to succeed.
PROCUREMENT RESEARCH
• Analytical
• Self Motivation
• Innovation
• Independence
OPTIMIZATION
• Efficiency
• Effectiveness
• Innovation
• MOC
• Communication
• Negotiation
• Strategy
• Sales
• Analytical
7/8/2015
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The Entrepreneurial Itch
• Devise Plans: business, marketing, sales & distribution
• Conduct market research
• Secure funding
Audience Poll: Of all the steps outlined below, which
should be taken as a first step in instituting an
entrepreneurial upstart?
Before you quit your day job…
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THB Launch - Dec Production in NC Build Brand Presence Family & Friends
2009
Seed Money
Manufacturers GA/SC
Product Line Extension
Patton Joins Mgmt.
Macy’s VDP Contestant
Brilliant & Beautiful Push
Hired PR Firm
Hired Distribution team
2010/2011
THB Timeline
Research Secure Funding
2007/2008
7/8/2015
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Taking a Product to Market
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18 18 18
THB Value Proposition
What makes us different?
Premium Product Performance (Superior Product Performance based on balance of chemistry and nature)
Comparative Measures of Quality (Superior Performance when measured against competitive technology)
What makes us THB?
Inimitable Total Value
Customized Beauty Solutions (Consumer Benefits that ONLY THB Chemists /
Founders can deliver to the market)
What makes us credible?
Social
Mission
(Brilliant & Beautiful and
Academic Association)
What makes us relatable?
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19 19 19
Marketing 007
• The unspoken intricacies of taking a product to market.
• Bloggersphere vs FDA
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20 20 20
Marketing 007
• Know regulatory guidelines, but do not disregard the court of
public opinion.
Audience Poll: What is the name of the ubiquitous
surfactant shown below?
• Sodium Laureth Sulfate
• Sodium Laura Sulfate
• Sodium Ether Sulfate
7/8/2015
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21 21 21
Marketing 007
Know regulatory guidelines, but do not disregard the court of
public opinion.
• Replaced SLS with isethionate surfactant blend
Sodium Cocoyl Isethionate
Source: BASF – Jordapon CI Prill
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22 22 22
Marketing 007
Know your customer.
• Consumer spending patterns
• Focus groups
• Data driven decision making
7/8/2015
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23 23 23
Marketing 007
Know trend precursors.
Fashion trends dictate hair trends! Seasonal styles.
• We formulate according to the trends of the day.
• Afros need Tea and Honey Blends Curl Definer.
• Straight styles need Gleam to protect against humidity.
• Brunette highlights need Sparkle to add shine.
Spin the story…
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Marketing 007
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Sustainability
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7/8/2015
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Old New 27
Evolution of THB Packaging
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7/8/2015
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Introduction Mature Growth Decline
Time
Develop
Sale
s
Profits
THB Classics
E-COMMERCE
THB Expanded
Classic – Macy’s
THB Custom
Blend Bar
Macy’s
THB Custom Pro
Salons
30 30 30
THB Corporate Portfolio Life Cycle
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Operational Sustainability
7/8/2015
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31 31 31
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Operational Sustainability
• 2 years
• 5 years
• 10 years
• 13 years
Audience Poll: What is the average length of time it
takes for a shampoo to reach the maturity stage of the
product life cycle?
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Tea & Honey Blends will create demand by: • Crafting a compelling brand narrative and positioning inspired by a natural beauty movement appealing to a cross-section of women of color within the natural hair care category.
•Molding our advertising efforts to appeal to different generations and ethnicities as our population demographics continue to shift. Providing innovative hair care solutions - To remain relevant and ahead of the consumer curve, Tea and Honey Blends sees the need to invent new product categories, e.g. THB Blend Bar
Tea and Honey Blend Bar- Patent Pending
Tea & Honey Blends - Blend Bar
7/8/2015
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Strong salon presence
Foster joins Mgmt.
Seed Money
Seed Money
Manufacturers GA/SC
Product Line Extension
Patton Joins Mgmt.
THB Launch - Dec Production in NC Build Brand Presence Family & Friends
Macy’s VDP Contestant
Brilliant & Beautiful Push
Hired PR Firm
Hired Distribution team
2009 2010/2011 2012/2013 2014/2015
Timeline 33 33
Launch Blend Bar
Foster joins Mgmt
Launched EBB
Selling THB
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Lessons Learned
7/8/2015
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TEA AND HONEY BLENDS BODY BASICS – SKIN CARE
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Tea And Honey Blends Special-Tea Styling Products
35
THB Classic – Product Portfolio THB Classic Skin Care 35 35 35
Lessons Learned
• Invest in a good lawyer
• Seek funding first
• NDAs – proprietary formulations
• Devise exit strategy at the inception
• Grow slowly
• Network extensively
36
www.acs.org/acswebinars www.acs.org/acswebinars Slides available now! Recordings will be available to ACS members after one week
“The Entrepreneurial Chemist: Bridging the Bench and the Boardroom”
Co-produced with ACS Diversity and the Women Chemists of Color Program
Tashni-Ann Dubroy Entrepreneur and President
Elect, Shaw University
Steven Isaacman Co-Founder,
PHD Skin Care
7/8/2015
19
Women Chemists of Color Program
37 http://bit.ly/ACSwcoc
The American Chemical Society Women Chemists of Color program builds
community, provides resources, and advocates for minority women chemists.
ACS Women Chemists of Color Program Webpage: www.acs.org/wcoc
WCoC Facebook Page: https://www.facebook.com/ACS.WCoC
WCoC ChromoaChem Blog: https://communities.acs.org/community/society/wcoc-chromachem
@ACSDiversity (Facebook, Twitter,
Instagram)
Upcoming ACS Webinars www.acs.org/acswebinars
38
®
Contact ACS Webinars ® at [email protected]
Thursday, July 23, 2015
“The Creator’s Code: The Six Essential Skills of
Extraordinary Entrepreneurs”
Amy Wilkinson, Strategic Adviser and Entrepreneur, Stanford Graduate School
of Business
Brian Morin, President & COO, Dreamweaver International
Thursday, July 16, 2015
“Catalyzing Innovation through Molecular Design” LIVE From the Green Chemistry & Engineering Conference
Brian Laird, Professor of Chemistry, University of Kansas
Anthony Rappé, Professor of Chemistry, Colorado State University
Joe Fortunak, Professor of Chemistry, Howard University
7/8/2015
20
Be a featured fan on an upcoming webinar! Write to us @ [email protected]
39
How has ACS Webinars benefited you?
®
“Thank you for providing these informative webinars, for a
number of reasons they are useful both to the direct
targeted audience, but also in a softer sense contributing
to the cross-functional knowledge-base in increased
understanding & awareness of potential issues that may
also apply to each individual's core activities.”
Ross Reid, B.Sc. (Hons)
Manager, Pipeline R&D,
Biosciences Division
Emergent BioSolutions
40
facebook.com/acswebinars
@acswebinars
youtube.com/acswebinars
Search for “acswebinars” and connect!
7/8/2015
21
Benefits of ACS Membership
41 www.acs.org/2joinACS
Chemical & Engineering News (C&EN) The preeminent weekly news source.
NEW! Free Access to ACS Presentations on Demand® ACS Member only access to over 1,000 presentation recordings from recent ACS meetings and select events.
NEW! ACS Career Navigator Your source for leadership development, professional education, career services, and much more.
42
ACS Webinars does not endorse any products or
services. The views expressed in this
presentation are those of the presenter and do
not necessarily reflect the views or policies of the
American Chemical Society.
®
Contact ACS Webinars ® at [email protected]
7/8/2015
22
Upcoming ACS Webinars www.acs.org/acswebinars
43
®
Contact ACS Webinars ® at [email protected]
Thursday, July 23, 2015
“The Creator’s Code: The Six Essential Skills of
Extraordinary Entrepreneurs”
Amy Wilkinson, Strategic Adviser and Entrepreneur, Stanford Graduate School
of Business
Brian Morin, President & COO, Dreamweaver International
Thursday, July 16, 2015
“Catalyzing Innovation through Molecular Design” LIVE From the Green Chemistry & Engineering Conference
Brian Laird, Professor of Chemistry, University of Kansas
Anthony Rappé, Professor of Chemistry, Colorado State University
Joe Fortunak, Professor of Chemistry, Howard University