What I Learned  from Biofiba Limited

This blog is part of my “What I learned from” series where I offer insights I picked up through working with a particular client for the purpose of helping to start or grow their business.

I’ve had the pleasure of working with a company called Biofiba Limited for the last few months.

My tasks largely involved the preparation of a series of investor documents and grant submissions. As often happens during these projects, I’m privy to the workings of the company but more importantly the workings of the mind behind the company – the founder.

Here’s what I learned:

Focus – The main lesson for me was the power of focus. The end result, I believe, has always been held firmly in the mind of the founder.  The elements including, people, processes and systems were then sought that complimented this vision. This is a significant point as typically what happens is a founder often yields, at least in part, during the construction phase of a business to accommodate elements that do not contribute as initially intended.

The resultant business is therefore, to the degree of the yielding, misaligned to the founder’s initial vision.

Market Driven – Give the market what it wants. Here, the market presented a round hole and the founder provided a circular product. Again, a simple but significant point as often there is a question mark over whether the market wants what the business owner proposes to offer it. The resultant business model is then often based upon shaky or at best, uncertain, assumptions.

Be the Leading Edge – Approaching a product or issue from a totally new perspective gets attention. Much ‘augmenting’ of current product and services goes on but a totally new approach stands out.

Third Party Votes – What unrelated third parties offer about a product or service by way of opinions holds far more weight than what a founder offers. The best third party votes are actual sales but working backward, sales agreements, contracts and MoUs do hold weight as well. Certification of products that are of a technical nature also holds significant weight.

Government Funding – It exists and a business is wise to be ‘plugged in’ to the current themes and criteria of available funding.

Disclaimer:  Information offered here is not intended support the take up of any subscriptions in any companies. Potential investors should obtain their own independent advice, and make their own assessment of any investment they propose to undertake.

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