5 Lessons from the Accidental Entrepreneur, Kiran Mazumdar Shaw
3. Make the required changes
The dynamicity of business plans and models drive the enterprise towards a longer lifetime and lesser failures. Sticking on to models which had once been successful and hoping that they would repeat the history some time soon is one of the most expensive mistakes that entrepreneurs do. This was the time when I thought we should change our business model. After that, we leveraged all these technologies that we built in enzymes in a general way in the biotech space. After that we got into biopharmaceuticals and in six years, we were able to increase our business size from USD 25 million to USD 100 million and that was the point when we went public, which was our IPO inflection point, Kiran told about her take on changing business models.
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