【正文】 s third year. Let me talk a little bit about … look at myself … being an entrepreneur and also starting the pany Profex and I will use some examples of the pany. First, why I start my own business? The question that we asked before, why? For me, it39。s very clear. I want to be a pioneer, start a very unique pany, longterm value is very critical. Build longterm value and be proud of what we do with my colleagues. What type of pany? Very clear, a sustainable value pany because that39。s the only way to achieve the personal objectives that I have. And third, sacrifices, risks. I had a career with Bristol Meyer Squibb. Some of you are from Bristol Meyer Squibb and know me? I had a good, fortable package. So those things are things that had to be sacrificed. And I had to use personal fund. So not only you need to keep money going in, you have to use your personal fund what you have accumulated to invest behind the business and make a longterm bet. Because we set out to create a pany that can have this capability and infrastructure to be strong in the area. So clearly for me the decision was it has to be a pany with longterm proprietary asset. And I also had to make clear in my mind if I was prepared. This is something I urge everyone before you venture out to think very, very carefully and make sure you39。re prepared. So only after your mind is very clear on the above areas you start looking at the process of starting a pany. And I believe there is a 5step approach. You know it39。s not the … people can debate. But from my experience I believe there are 5 very, very important steps to looking at starting a pany that has sustainable value overtime. The first is … has to start from you.I have worked in the pharmaceutical industry, over the counter, personal care and fastmoving consumer goods. I have worked very briefly in my home country in Greece. I39。ve worked in the US for about 7 years then in Canada for almost 2 years. I39。ve been in China since 1994. So China is the area I have the most experience at the senior level. Business type: I worked in an established, mature business。 start up with corporate resources, which was my first job in China, which was to start up the overthecounter division of Bristol Meyer Squibb. The products we introduced include Bufferin line, Therogram line. The turnaround situation I39。ve been involved a couple of times in my career and recently start up my own business, Profex. And then my functions and roles have been in marketing, in business development, general manager, president and then the founder now of the pany. And I put there entrepreneur because in a way I consider myself entrepreneurial even with the big pany I was working in. The last 4 jobs I had with Bristol Meyer Squibb were new jobs, now one had before me. One was a startup。 the other was a new position bining different positions. They were new jobs. So they were entrepreneurial in some ways. So that39。s kind of a snap shot of myself. With that, going back to the earlier chart of annualising the experience for me, the decision was quite obvious, health care was the area that I had accumulated the experience. And I had personal experience in China. It39。s the market where I had my recent experience. And I also like and enjoy the fast pace, the growth, the ability to create a pioneering thing. And also I was at a point in my career where I could believe be a founder with good partners and team obviously of a new pany that could bee strong in its area. So that39。s the first step, analyse, look at your experiences throughout. Because those will determine something for you. Obviously if you39。re thinking of starting a business, if you39。re not, maybe no need。 if you are, very important, first, analyse Second, I believe very, very strongly that for every business to succeed you need to have a different idea. It doesn39。t need to be a revolutionary idea, but it needs to be creative and have some point of differentiation. I put the word crystallise because it39。s not enough to have the idea, you need to make it crystal clear in your mind what it is define it very, very clearly. In our case with Profex, we picked an area, as I said before, large enough to attract top team of people to join us partners, investors, but not too big to antagonise maybe some of the bigger panies that can be our partners. So we decided with Profex to specialise on one area, on dermatology and skin. So within the total health care pharmaceutical, overthecounter, cosmetics … the whole area, we chose one area the skin care and dermatology. And thirdly, build a prehensive portfolio of top products in this area. I don39。t want to get into details on this, but just to illustrate how you have a different idea, because it39。s an area no pany has prehensively, systematically focused on. So we build a business around this idea. So that39。s the second area. The third is you need to develop a very clear strategy and roadmap because you need to know very, very clearly where you want to go before you start putting plans in action. And here we use a tool that we had used in BMS(Bristol Meyer Squibb) also, which is our strategic pyramid, which is a tool that guides us. It39。s like a pass. On top you have the vision of the pany. Vision, you develop one time, is where you want to go. What39。s out there? Not where you are today but where you want to be in the outer years. Then you determine what areas you need to be superior to anyone else. They don39。t need to be too many areas. You may say I39。m going to be the best in getting products fast into the market, or having a network covering pharmacies in Guang Dong. It doesn39。t matter. But the best in some area that you39。re going to be superior to others. And then break that down to who is responsible for what, what they must do for the year and for the quarter. So this is not the only way. There39。re many ways to do it. What39。s important is to have a very clear roadmap. Start up your vision as the founder of the pany whe