Friday, January 21, 2011

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Entrepreneurs Dive Into 'The Perfect Storm'


11.11.10


Mary Wallace Jaensch and Rachel Braun Scherl were marketing consultants specializing in women's health and beauty issues when someone handed them a business plan for Zestra , a topical, over-the-counter product for enhancing women's sexual pleasure.

The business plan indicated that 30 million women have sexual concerns and difficulties, and that Zestra -- which is said to increase a woman's sensitivity to touch -- was the only product on the market available to help them. What's more, Zestra -- a blend of botanical oils and extracts -- is regulated as a cosmetic, not a drug.

"This is the perfect storm," Scherl declared. They kept an eye on Zestra Laboratories and, when it declared bankruptcy in June 2008, the pair teamed up with Quaker BioVentures , a health sciences venture fund, to purchase the assets.

"We had never raised venture capital before. We'd never bought assets out of bankruptcy before," Scherl says. So they did what smart businesswomen do: "Whatever it is you need, find the smartest person you can afford who knows how to do that," Scherl says.



Source: FOXBusiness




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I was sent a great quote today by someone who knows I love a great quote.Bill Cosby is attributed with this one: “I don't know the key to success, but the key to failure is trying to please everybody.” I thought about this in light of the fifth principle of interpretive planning since it seems to be a polar opposite of the principle that says that everybody has to win, but the ultimate winner must be the resource.

I can reconcile these two philosophies easily in my own mind, largely because I'm a big believer in building consensus. People sometimes use consensus to mean that everybody has to agree on everything, but that's really not what consensus is about. Consensus is about agreeing to the degree that a project can move forward. So it's not so much that everybody gets their way (which, as Bill Cosby points out, may end in failure), but that everybody can at least get on board with a decision with some level of comfort. Your comfort level may be higher or lower than the next person's, but consensus means you're willing to bend to the extent necessary so that everyone benefits instead of digging in your heels and insisting that you have the only answer.

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