(Update) 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.

 


UPDATE: Renovia CEO Marc Beer Secures $42 Million Investment To Advance Innovative Treatment Of Pelvic Floor Disorders

Marc Beer helped Renovia secure $42 million in an investment deal to advance its production of digital medical devices for pelvic floor disorders. In part of the Series B round, Mr. Beer secured $10 million in venture debt. Also, the Longwood Fund invested in Renovia. As a medical-centered investment firm, the Longwood Fund was one of Renovia’s earlier investors. Ascension Ventures from Missouri and Perceptive Advisors from New York joined in the investment as well. Renovia will use the new funds to continue its development and testing of several diagnostic and therapeutic products. One of its focus points is developing new innovations for its well-known Leva digital technology device.

Investment Fund Plans

The investment funds will help the company strengthen its position as a leader in the future of pelvic floor disorder medical treatments. Medical device manufacturers and health care practitioners have discovered the mistakes of past methods such as mesh implants. With Renovia, there are safer innovations that could improve life for many people with pelvic floor disorders in the future. Mr. Beer hopes to use his past experiences in new health care developments to benefit patients and professionals by developing new products and improving existing technologies.

In an interview, Mr. Beer said that he was thrilled to have support from a group of the health care industry’s leading investors. Also, he said that he was happy about the investors sharing Renovia’s vision of improving diagnostics, improving treatments and ultimately improving the lives of patients with pelvic floor disorders. Mr. Beer added that combining Renovia’s special sensor technologies and form factors with an advanced health care platform will improve understanding of pelvic floor disorders, and it may eventually reduce the costs of long-term care for patients.

Renovia: Leadership in Innovation

Renovia is based in Boston, Massachusetts. Designed to improve the quality of life for pelvic floor disorder patients, the biotechnology company started in 2016. The company’s use of special sensor technologies that it has in its digital health platform give it the ability to help health professionals visualize and treat pelvic floor disorders while they collect important data at the same time. With this data, health professionals have a better understanding of a patient’s current status and can make more accurate prognostic predictions.

Although Renovia’s focus is on treating pelvic floor disorders, it does not overshadow the importance of addressing underlying issues that cause problems that may lead to pelvic floor muscle weakness. The company’s products are designed to blend with full treatment plans that help patients gain and keep strength.

Today, Renovia is working on fusing special app-based technologies and data systems with FDA-approved medical devices to give patients more control over the health of their pelvic floor muscles. Renovia’s special Apple mobile app works with the company’s patented sensors and other technologies to communicate important information to care providers that enhance performance, show progress and nurture value-based care.

Mr. Beer is the CEO of Renovia, and his leadership team thrives on helping one another. The team consists of talented individuals from a wide range of disciplines in the medical field. With their combined experience and talent, they work hard to understand the needs of their market and to develop products with compliance, safety, regulatory and financial aspects in mind. The team believes that products should meet every critical requirement to be useful to patients, health care professionals and caregivers at the same time.

From social issues to material sourcing, the company is committed to responsibility in every aspect. On the site, it lists its core values, which are important in understanding the company’s culture. These values include:

  • Show passion and determination for customers and patients.
  • Maintain strict accountability.
  • Promote a sense of urgency.
  • Use the highest levels of integrity and ethics at all times.
  • Approach life with a humble, fun and purpose-driven attitude.
  • Make creativity and innovation top priorities to deliver the best results.

Marc Beer’s Commitment to Helping Women

With the help of Yolanda Lorie and Ramon Iglesias, Marc Beer started Renovia. Mr. Beer graduated from Miami University in 1987 with a bachelor’s degree in business. During the next decade, he served in several marketing and directing roles. Mr. Beer advanced into the medical field and was active in several biotechnology startups. He has more than 25 years of experience in commercialization and development in biotechnology, diagnostics, medical devices and pharmaceuticals. In one of his ventures, he helped grow a startup to more than 300 employees.

In addition to his many entrepreneurial successes, Mr. Beer enjoys taking part in other committees that promote the advancement of medical technologies. As a founding member, he serves as the chairman for the Good Start Genetics Compensation Committee. He is also the chairman of the organization’s board of directors. Mr. Beer was a founding member of the Minerva Neurosciences Inc. Audit Committee, and he also serves as the chairman for it. To help promote education and research, Mr. Beer is a member of Notre Dame’s Graduate Studies Research and Miami University’s Business Advisory Council.

Renovia: Changing the Future of Pelvic Floor Disorder Treatment

Renovia’s recent investment has the potential to change the lives of many women. More than 50 percent of women under the age of 60 may have weakened pelvic floor muscles. The pelvic floor consists of several individual but connected muscles that work together to support the bladder and other pelvic organs.

In many cases, women who now have a weakened pelvic floor had children in the past. However, other factors can contribute to weakening of the muscles in that area. One of the common results of weakened pelvic floor muscles is bladder leakage. With special exercises and treatment, women can strengthen their pelvic floor muscles and reduce leakage or incontinence.

Pelvic floor exercises are usually the first treatment solution for women with weakened muscles, and surgery is reserved for more severe cases since it comes with risks and complications. Some women may be treated with medication, which can also come with side effects. Renovia designed Leva to enhance exercise programs and to help women maximize their effectiveness. Leva is Renovia’s first product. It gained FDA approval in April last year and grew in popularity after it went on the market.

Leva is designed to serve as a digital trainer for women who need to strengthen their pelvic floor muscles. It is a non-surgical solution that includes a wireless vaginal probe, which works with an app. When the probe is inserted, it detects movements and transmits real-time information about how the user is exercising. With this data, health professionals can analyze patterns to determine the effectiveness of exercise movements. Leva is designed to help women who have moderate or mild urinary incontinence.

One of the reasons why women do not see positive results after doing exercises for some time is because they do them incorrectly. They may do them correctly at first but may alter them after a while. It may be hard to tell if the muscles are moving upward or downward for some people. When women have a visual representation of what they are doing, they can see which muscles are being targeted and which way they are moving. There are clear visual images for when the user is at rest or in motion. Also, some women do not follow their exercise regimens strictly. The app includes other features that help women stay on track and measure their progress. Leva’s exercise routine takes about five minutes to complete.

Renovia’s leadership team is excited to see how the investment will help Leva advance and new programs develop in the future. The company recently announced the launch of a program called REDUCE, which is a multi-center randomized controlled trial to study the effects of the Leva device and app. Vice President Jessica McKinney said that the gap between urinary incontinence and care access is too big. She also mentioned the large gap between pelvic floor physical therapy and surgical alternatives. With the new REDUCE study and the continual improvement efforts of Renovia’s team, the company hopes to help close those gaps to reduce the amount of unnecessary surgeries and to help women regain long-term control of their pelvic floor muscles.

Mr. Beer is confident that his team will make great progress after this investment. One of his philosophies is to create a workforce of enthusiastic professionals who meet the company’s complete needs together. He believes in bringing in the absolute best people for each role to achieve success.

About Brandon Ferguson 885 Articles
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38 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. This article about Marc Beer and how to be an entrepreneur and the steps one has to take to be successful is displayed here. The steps all speak volume here but the one that stands out the most to me is believing in your vision and yourself if you don’t have that you have nothing. Thank you, Marc, for sharing these values with all of us.

  21. this is a very good article on the advise of Marc Beer for success. in here have noticed very valuable points that we should gain. we must learn from our fallings and fails on facing future as a success character.that is a one significant point that i can mention.absolutely this is a great work of writer and hope for more.

  22. 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.

  23. 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

  24. 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.

  25. 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.

  26. 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

  27. I too believe that contributing to our Community is a good and one of the best ideas for bringing in business of any kind. This fact is what stood out throughout this whole post. Thanks for sharing and for expending my knowledge base. You have really good info here and look forward to seeing more that you have to offer.

  28. I thought it was very inspiring and good concepts in winning. It doesn’t matter how much money you have in order to be a winner. It is on what you learn on your journey. Everybody makes mistakes but learning from them and using your hard time to grow you and then you can be consider a winner. As long as you put your mind to it you can accomplish anything.

  29. There is a lot of wisdom in this article. As a Small Business owner myself FEAR was a big hurdle for me. I realized i was passing on a lot of opportunities being intimidated or scared i wasn’t going to succeed. Once you break that your abilities are endless. Marc Beer i wish i heard your tips and advice earlier your awesome!

  30. This is a bit different from the advice that I’ve become accustomed to seeing. Instead of doing micro-experiments to test for product market fit, Marc Beer seems to be saying you should make a plan and then put 100% of your time, money, and energy into the plan. You better know what your doing to go about it that way.

  31. Great advice from this article for entrepreneurs! It’s very helpful to prepare for starting a business. To be successful, we have to invest more than just money. We must understand the sacrifices we have to make and have a relentless focus on the goal. Most of all, enjoy the process and all learning experiences.

  32. You are a good inpirational person and all of the interviews of yours are very much helpful for all type of people Mr. Marc Beer’s recommendations for future entrepreneurs are very valuable .

  33. Its a wonderful article for those people who wants to be a entrepreneur in his life.every careful people need it.this article change every people who involve in business.I enjoy it and i will best try to share my all friends and every people.

  34. This is fantastic advice from Marc Beer. It should be very useful for aspiring entrepreneurs. Marc Beer has over 25 years of experience in the industry, so he knows what he’s talking about.

  35. Setting up your own business requires a lot of persistence and patience. Marc Beer has a lot of tips and tricks and he is a good go-to guy for help. You have to be patient because it might take a few years to get your business stable and make good profits. By following Marc’s advice you can be successful.

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