Carolyn Chan
AMM101.3704
• NAME:
UBIOMICS INC.
• OWNER:
ANGELA WU
• ADDRESS:
48 WALL
STREET, NY
10005
• PHONE:
(212) 464-8774
• YEAR IN BUSINESS :
FIVE YEARS
• KIND OF BUSINESS:
CONSULTING
• SURROUNDING:
FINANCIAL
CENTER
• Ubiomics, Inc., selected by co-owner.
U is for her technology, Ubiquitin
pathway, and mic stands for small
molecule.
• Started in August 2001, at 48 Wall St. NY,
NY.
• Four partners. Legal form of the business
is corporation. Incorporated- easier to
raise capital.
• The owner earned a Master of Business
Administration (MBA), in order to start
this business. She used to supervise
team of people; co-develop
some of the products; and
how to sell and market the
products.
• Three months to raise enough capital.
• It is the founder's families' money.
• Approximately a hundred thousand for:
operating expenses;
electric bills;
telephone bills;
salaries; and
administrative
expenses.
Advertisement and sales are
not included.
• Selling medicine to customers;
Registration process for new
drugs takes too long.
To overcome this, the company’s strategy, was
not to start a new project until the result of the
first project is still unknown.
• VISION - to identify which value is
important;
TEAM MEMBERS – excellent team
members with complimentary skills;
DAILY EXECUTION - work on
the project everyday, like
registering a drug that would
take a really long time to be
approved.
• Handling complaints. Ask the customer
to calm down, then ask
what his or her complaint;
Analyze the problem, and
finally help the customer to solve the
problem.
• Be very honest with the customer and
reliable;
Make the business valuable to customer work out something that customer can't
do.
Like making money
or saving money to
help grow business.
• Develop new drugs. Treats
Hepatitis; and
For cardiovascular disease –
helps make the blood thinner.
• The quality of the product is excellent.
Sample shows the results;
Very affordable price.
• No advertisement necessary;
Attend conferences;
Communicating with people
and build network.
Connections to potential buyers and
manufacturers that make good products.
• Very little competition. Barriers to entry
is extremely high. Competitors go out of
business due to lack of management
skills, and team work.
• Do research on competitors.
Pricing strategies.
• Only purchased
freight-out insurance,
and NO liabilities
• Start with fifteen employees and four
partners.
• Employees work eight hours a day, six
days a week.
• Owners' work about five hours a day, and
twenty-four hours thinking.
• Employee's loyalty and honesty or
integrity to the company; Competence and ability- who can do the work; and
Can work within the team - company
without teamwork in firm can be broken
up easily.
• Give employees proper share: salary,
health plan, family plan, and other
possible benefits.
• The company looks at employee's
integrity, competence, -and ability, team
working, and character, and if the
employee doesn't have these skills, the
company would have to fire them.
• As a business owner, having dreams and
goal for business is really common and
develop and sell more profitable product
is one of them. Reward -employees who
work really hard for this company; and
give back to the community and society.
• To start a business today you need:
• First, you must have PASSION (interest) if a you don't have passion for the
business that you wants to start, and just
want to make money, you can't do it, or it
would be hard for you, because there are
many obstacles that will come your way
Second, find the business that would best
suits your interest and would match your
skills
Third, to start a business or company, as
a female, it is important to
have a balance between
work and life. This is to
reduce risks in your career
and personal life, and before
opening be well prepared financially and
psychologically.