How to Become a Successful Entrepreneur: Advice from Marc Beer, Co-founder and CEO of Renovia, Inc.

Tips for Entrepreneurs - Marc Beer Renovia

Becoming a successful entrepreneur is no easy endeavor. It requires focus, purpose, persistence, leadership, and the ability to embrace and learn from failure. Marc Beer, co-founder and CEO of Renovia, Inc., a startup medical technology company, embodies these qualities.

In this article, we’ll share some of Beer’s top tips and tricks for aspiring entrepreneurs.

Tips and Tricks for Entrepreneurs from Marc Beer

With decades of experience in innovation and entrepreneurship, Marc Beer has valuable advice for aspiring entrepreneurs. Here are Beer’s top tips and tricks for future business leaders.

Make a Financial Plan

Before starting a new business, you’ll need substantial savings and/or venture capital (financing). Even successful businesses rarely earn a substantial profit in the first few years. Beer recommends starting your business with enough money to pay the bills for at least the first year. Remember that you will need to pay both the bills for your business and your personal expenses.

If you do have a lot of funding to start with, don’t forget to focus on building your business as well. Regardless of how much money you have now, you must create a business that will eventually generate revenue and turn a profit.

The bottom line is this: Starting a business is expensive. Make sure you have a plan!

Be Willing to Sacrifice

In addition to money, starting a new business requires you to invest a substantial amount of time. Beer says you’ll need to spend “at least 18 hours a day” on your new business.

Of course, this will require you to sacrifice time with your loved ones, as well as your “me” time. Prepare your family and yourself for this change. It’s important to be realistic about the sacrifices successful entrepreneurship requires.

Focus on Winning

Entrepreneur Marc Beer
Work together. Focus on wins

Fear can be a major roadblock for aspiring entrepreneurs. Instead of focusing on everything that could go wrong, think about everything that will work. Believe in yourself and believe that you are going to win. Beer clarifies, “Winning doesn’t have to mean that you make a lot of money. Winning can also mean that you have learned a lot on your journey, and you can say that you’ve grown.”

Even if your family and friends don’t support your endeavors, you must believe in yourself. Believe in your vision and that you have what it takes to succeed. Without focus and confidence, it’s unlikely that your business will flourish.

Remain Logical

Marc Beer says, “Successful entrepreneurs do not allow their emotions to guide their behaviors.” When making important decisions and addressing problems, ensure that your emotions are under control.

Brainstorm potential issues before they arise and make a logical plan: “If _______ occurs, then I will ________.” This way, you won’t react emotionally. Be aware of what situations trigger negative emotions. Find ways to manage these emotions so that you’re not distracted from the job at hand.

Learn from Failure

Setbacks, mistakes, and minor failures are inevitable when starting a new business. Embrace these experiences and the lessons that they teach you. As Beer says, “There is only a problem if you relive those failures without allowing them to push you toward the success you are seeking.”

When you experience failure, ask yourself what you have learned as a result. What went wrong? What will you do differently in the future? Beer says, “When you learn from failures, you can do things differently the next time, and you might get it right!” Don’t focus on the failure; focus on the lesson.

Enjoy the Process

Be patient as you build your business, and enjoy the process. Celebrate each milestone and accomplishment as it happens. Beer says, “You have to fall in love with the process. You also have to fall in love with the people around you that you want to help.”

If you practice patience and the ability to “delay the reward,” you’ll find that success comes to you much faster than expected.

Contribute to Your Community

When you begin to meet your goals, Beer recommends, take some time to help other people realize their goals as well. Not only is “paying it forward” rewarding, but it also helps you experience continued success.

Beer says, “Each human being is here to contribute to the planet, and people who do this experience very fulfilling lives.”

About Marc Beer

Marc Beer headshot

Marc Beer has over 25 years of development and commercialization experience in biotechnology, pharmaceuticals, devices, and diagnostics. In August 2016, Beer founded Renovia alongside partners Ramon Iglesias, MD and Yolanda Lorie.

After graduating from Miami University with a BS in Business, Beer held various sales and marketing positions in the pharmaceutical and diagnostic divisions of Abbott Laboratories. He then worked in sales and marketing at Genzyme, eventually becoming the Vice President of Global Marketing. There, Beer helped launch gene-based applications treating a variety of rare disorders around the world.

In April 2000, Beer became the founding CEO of ViaCell, a biotechnology company specializing in the collection, preservation, and development of umbilical cord blood stem cells. Under Beer’s leadership, the company grew rapidly and was eventually acquired by PerkinElmer.

Beer has also served as a member of the board of directors of Erytech Pharma. He was Founding Chairman of the board of directors and chairman of the compensation committee of Good Start Genetics, Inc., recently acquired by InVitae. He is the Founding Chairman of the board, chairman of the compensation committee, and member of the audit committee of Minerva Neurosciences Inc. He has served as a Strategic Consultant to OvaScience, which specializes in treatment options for infertility, and is a member of the board of directors of the Joe Andruzzi Cancer Foundation.

About Renovia, Inc.

Renovia is a women’s health organization that pursues cost-effective care for pelvic floor disorders, which impact an estimated 250 million women. The innovative company aims to provide better products for first-line diagnosis and treatment of these conditions.

Marc Beer intends to lead the company’s development through a combination of innovative and proprietary sensory technologies with a digital health platform. Patient-based app technology and data management provide patients with valuable information that can produce new treatment options.

In 2018, Renovia’s first product, Leva, was approved by the Food and Drug Administration (FDA). Beer obtained funding from the Longwood Fund, an investing group focused on health care issues. Series B funding was led by the The Perceptive Advisers of New York and Ascension Ventures of Missouri. With this funding, four Renovia products were developed and tested. Beer plans to produce a new generation of Leva.

Recap

For aspiring entrepreneurs, it’s important to:

  • Create a financial plan.
  • Make a significant time commitment.
  • Believe in your vision and yourself.
  • Handle issues logically instead of emotionally.
  • Learn and grow from mistakes.
  • Be patient and enjoy the process.
  • Help others succeed as you experience success.

By following these words of wisdom from Marc Beer, co-founder and CEO of Renovia, you can turn your big idea into a successful reality too.

About Brandon Ferguson 811 Articles
Brandon has been browsing and sampling what the web has to offer. He sifts and sorts the good from the bad. Drop him a line if you want to ask anything at all! Always happy to help.

26 Comments

  1. Marc Beer is such a successful businessman, now I see why. The advice he gives is spot on and I wish I would have known these “tips” way back. What I find heartwarming is the fact he’s helping others succeed after he has, he’s willing to share his experiences so others can avoid the mistakes he’s done. Very good article with lots to learn from!

  2. These are very good points to remember if a person is going to try to make it in this world of startups. My biggest concern is startup money for the business aspect also.

  3. Marc Beer has over 25 years of development and commercialization experience in biotechnology, pharmaceuticals, devices, and diagnostics. In August 2016, Beer founded Renovia alongside partners Ramon Iglesias, MD and Yolanda Lorie. Renovia is a women’s health organization that pursues cost-effective care for pelvic floor disorders, which impact an estimated 250 million women.

  4. “Be willing to sacrifice” – that’s the one I have the hardest time with. It really does take a lot of sacrifice to make something big happen, but it’s usually worth it, or so I hear, and so it would seem in Marc’s case. Learning from failure is one I see a lot of people missing out on. Too much time beating themselves up and not enough finding out the why so they don’t repeat.

  5. This is very informative and well described. It’s easy to understand all the points being made about how to become a successful entrepreneur. I’ve always wanted to start my own company, so this post was exactly what I needed to read. I will use all of the tools here right away. I enjoyed it a lot and will share what I learned with all my friends.

  6. I dream to be an entrepreneur but my family doesn’t support me till now.
    I graduated but unemployed for 3 months and started to think that they might be right.
    But after reading this article, I got my confidence back. I will fight for my dream.
    Thanks so much for inspiration!

  7. You’re a huge inspiration man. Launched my own maid service in an underserved market because of you Marc Beer. I really can’t thank you enough for your awesome article

  8. Its a great article for those people who wants to be a entrepreneur in his life.I am going to run a business very soon and I think this article will help me a lot. beside the learning its a motivational article I think personally. Thanks for sharing us such kind of article.

  9. This is inspiring stuff. Thanks for taking the time to list this all out for us. I am going to use this as motivation going forward and hopefully it will inspire others to do the same as well. Well done!

  10. Mr. Mc Beer’s recommendations for future entrepreneurs are very valuable … they can save you valuable time and resources … I liked the way he emphasizes the importance of carrying out a financial plan in the company’s business. , because this will help you better to have a guide and see all the resources that one needs to take off with success. However, the most important thing is to believe in yourself, without that nothing can be achieved.

  11. Marc Beer is a great entreprenuer. After reading this article I want to say Thanks for a good article. This type of article I like to read always. And his work in this field is amazing. because he always want to improve treatment to researching existing plans and busineess. great way to make money and get ahead in this world today

  12. As with most things in life, confidence and focus is really key here. Marc mentions you may have to be alone for a while and interact less with family and friends, which makes your inner strength and determination and purpose that much more important to succeed. You have to have that foundation to fall back on that will get you through the tough of times. This was a great read. Thank you for sharing your knowledge and experiences Marc!

  13. It is always great to enforce out of the box thinking.. Some of these key points mentioned in the article doesn’t even cross most people’s minds. Great information to be learned from this good article!

  14. This article definitely seems like it has some trusting information. Becoming an entrepreneur is a relevant interest to many many people and a lot of us need all the advice and information that we can get. It can be hard to make it as an entrepreneur and you want to find information that will make you feel confident and thats exactly what this article does.

  15. Many people are becoming entrepreneurs these days, and there’s a lot of competition. It’s important to think everything through and have a plan if you’re going to compete. It’s a good idea to read up on things like this from those that were successful to know what you’re in for.

  16. this is a very informative article. very interesting to read and its well written. And becoming an entrepreneur is changeling since there is so much competition. And i believe Marc Beer is a great entrepreneur and i do really thank him for writing this for all of to read about his ideas. Loved the way he emphasizes the significance of working out a financial plan.

  17. These are inspirational words man. I have a couple of ideas I have been kicking around for the past year, but I always think there’s no way I can take them all the way to customers. I think Marc’s story is a decent template I can follow to get to success, maybe. I’m rising through the corporate ranks right now, but I have a bit of time until I hit his impressive 25 years of experience. This goes to show that a little age can be helpful, not harmful, too.

  18. Great advice for those of us who are aspiring entrepreneurs! I agree that it takes a good bit of sacrifice to get your business where you want it to be. I learned how much it takes in terms of cash flow so I definitely agree that having a financial plan is essential and should be one’s first step!

  19. I’m definitely bookmarking this article. This was very insightful, great tips and knowledge. Creating a great business you have to learn from your mistakes and be persistent, stay true and focus. I lack the confidence to even begin my own business, I pray that I get out of my own way and just go for it.

  20. You are a good inpirational person and all of the interviews of yours are very much helpful for all type of peopleMr. Mc Beer’s recommendations for future entrepreneurs are very valuable … they can save you valuable time and resources … I liked the way he emphasizes the importance of carrying out a financial plan in the company’s business.

  21. This is very useful especially the part about “starting your business with enough money to pay the bills for at least the first year” I never would have thought about that first. A well when it said “Instead of focusing on everything that could go wrong, think about everything that will work” “Winning doesn’t have to mean that you make a lot of money. Winning can also mean that you have learned a lot on your journey, and you can say that you’ve grown.” That is so important to remember most people define success by the amount of power one has or the amount of money they have and that isn’t what defines how successful you are, this is so helpful

  22. This is terribly informative and well delineate. It’s straightforward to grasp all the points being created regarding the way to become a successful bourgeois. I’ve continually wished to start out my very own company, therefore this post was precisely what I required to scan. i’ll use all of the tools here promptly. I enjoyed it plenty and can share what I learned with all my friends.

  23. These ar superb points to recollect if someone goes to undertake to create it during this world of startups. My biggest concern is startup cash for the business side additionally.

  24. This article undoubtedly sounds like it’s some trusting data. turning into associate enterpriser may be a relevant interest to several people|many folks} and heaps of us would like all the recommendation and knowledge that we will get. It are often arduous to create it as associate enterpriser and you wish to search out data which will cause you to feel assured and thats precisely what this text will

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