Cohere Founder Jeff Kiplinger Featured on Podcast

Uncategorized Jul 23, 2020

Jeff Kiplinger is featured on the newest edition of "Molecule to Market", the podcast created by Raman Sehgal, founder of ramarketing.  Their talk ranged through some history, making a transition from corporate employee to entrepreneur, the difficulties scientists face today in trying to take a similar path, and the role of contract research in the biopharma ecospace of the future.  Listen here, or subscribe to the podcast!

 

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Issues Consultants Face - Breaking it Down

analysis Jul 05, 2020

Of the six common issues surveyed, the number one issue identified was "building and maintaining pipeline".   48% identified this as a Big Issue, with the next Big Issue ("clients involve me on a limited basis to save money, so I can't contribute strategically") identified by only 24%.  

The weighted average for "building pipeline" was 4.03, while "contribute strategically" and "clients want free advice" were nearly tied at second (3.45 and 3.52).  However, these were...

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Survey Results - What Issues are Consultants Facing?

data Jun 26, 2020

June 26, 2020

Results from last week's survey of consultants about the general issues they face are in.  With 29 responses from the LinkedIn community, the question "What issues do you face trying to grow your business as a consultant?" showed these as the "top of mind" issues:

Examination of the results points to the top 4 issues, which are related to our ability to connect with, communicate with, and sell to our prospective clients are most important.  The primary issue for...

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Should Smaller Companies Not Develop Strategic Plans?

strategy May 11, 2020

Last week a LinkedIn connection forwarded an article from Ivey Business Journal (https://iveybusinessjournal.com/publication/strategic-flexibility-the-key-to-growth/). The authors draw from a lot of sources, including Michael Porter's work on strategy. The authors discuss a basic question: do small companies have an agility/adaptability advantage over large ones?

Small companies:

  • Have few embedded systems

  • Are often tightly governed by one or a very few owners

  • Have management that is...

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Seven Ways to Build Business Value

exit strategy Apr 29, 2020

We still don't know what's going to happen - as I wrote the first draft of this blog, oil futures were at -$37.83 per barrel. There are types of businesses that will never resurrect in the form they took before the crisis. But life sciences services, supplies, and development companies look to be in good shape in the future, and their prospects don't seem to be related to whether they pivot into the Covid-19 space or not.

In this sector we may be relatively lucky, but we still want to think...

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Is It Time to Think About the Future?

strategy Apr 29, 2020

Zymewire surveyed their connections in the biotech/pharma service provider space about 10 days ago on the impact of the Covid-19 crisis on business.

Clinical services providers are seeing the greatest impact due to slow initiation of planned trials; CDMOs are seeing the least. All the sector predicts a down quarter and some cash flow issues, but they expect the impact to be short term. In other words, expect a healthier 2021.
 
However, there are some issues.

The first is that the CDMO...

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Cash Management - 3 Things You Can Do Today

strategy Apr 28, 2020

In these strange times, when we don't know if tomorrow's news will slow things down further, we're vulnerable to cash shortages. Cash represents our ability as business owners to make payroll, keep the lights on, buy supplies to make more product or deliver more services. Cash management is key to survival in a crunch.

Here are three things you can do immediately, from your home office if necessary:

1. Call your vendors, creditors, landlord, banks. Let them know you're managing the situation...

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Radical Vulnerability in Business

Uncategorized Apr 28, 2020

I've been trying to write a post on the value of, or need for, personal vulnerability in business for a year, and I haven't found a hook. Maybe this is enough.

I keep thinking about the business leaders I knew through the 2008-2010 recession, and the times we talked about our deep fears in a time when it looked like clients might remain frozen like deer in headlights for longer than we could keep our companies afloat.

I keep thinking about Dr. Brene Brown's game-changing TED talk and the...

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Why Scientists Hate Selling

strategy Apr 28, 2020

When I started a pharmaceutical contract research company in 2007, we gained a lot of new business very quickly. We were offering services that were hard to find, which was why we started in the first place. By mid-2008 we were wildly profitable, and all we really had to do to bring in new business was tell people we were up and running. Then the Great Recession came, and we realized that we'd just plain been lucky. When things began to pick up again, we had new competition. Now we really...

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11 Things to Ask Before You Start a CRO

Uncategorized Apr 28, 2020
 

This is an oldie but (I hope) a goodie - clip from a talk I gave to the North Shore Technology Council in 2014, about bootstrapping a Contract Research Organization. Someone asked me about it this week, and although it's buried somewhere on my old company's website, I thought I'd pull it out and repost here.

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