William Hagstrom (Crescendo Bioscience) - Entrepreneurial Journeys in Healthcare

Entrepreneurial Thought Leaders (ETL)

Stanford eCorner

Business, Life Lessons, Creativity, Startups, Strategy, Thought Leadership, Education, Stanford University, Leadership, Challenges, Journey, Culture, Etl, Innovation, Founders, Stanford, Entrepreneurship

4.5 • 740 Ratings

🗓️ 3 February 2010

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

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Summary

It's not just your strengths as a leader, it's your passion, says William Hagstrom, CEO of Crescendo Bioscence, in South San Francisco, CA. He strongly advises future entrepreneurs to think of your business as a worthy crusade. Giving example with his own career, he urges those starting a company to architect their venture deeply, form a culture of excellence, and think about risk early. The culmination of his experience has redefined the role of CEO for him as way to empower others.

Transcript

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0:00.0	You are listening to the DFJ Entrepreneurial Thought Leaders series, brought to you weekly by the Stanford Technology Ventures Program.
0:10.0	You can find podcasts and videos of these lectures online at eChorner.standford.edu.
0:16.0	How many of you, you know, known or had an acquaintance with somebody who suffers from arthritis,
0:25.6	I mean, in a big way?
0:27.6	It's not good, and it can be very, very debilitating for loved ones.
0:32.6	So this is something, this could be very interesting to hear about,
0:36.6	no matter whether you
0:37.8	cared about entrepreneurship or not.
0:39.7	This is easy to get interested in.
0:43.8	But it also shows, again, what we're trying to achieve with ETL throughout the years,
0:48.0	they have a mix of entrepreneurs and CEOs as well as their supporters like venture capitalists
0:54.1	and authors, for example.
0:56.0	But have a mix of sectors, which, as you know, Steve Blank's course that meets after this, takes a look at.
1:02.0	So we're happy to have somebody from the life science field, just like we're happy to celebrate green tech and information technologies throughout the year
1:11.6	over the seminars so today it's health care so let's give a big welcome to
1:16.2	Bill Stanford well thank you well thank you for this opportunity.
1:30.3	The title of my talk is going to be the importance of purpose in the entrepreneurial journey.
1:36.3	And I think you'll see the significance of that as we move on.
1:40.3	Ten years into my career, I was vice president of a billion-dollar division of a $6 billion company.
1:48.0	Our scope included 40,000 products in seven market segments and diagnostics.
1:53.5	On the path to this position, we had the opportunity to be involved in multiple product launches, new venture launches, turnaround and restructuring
2:01.7	assignments. As exciting as these experiences had been, in my current position, I felt the
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