Biotech Blog

16 Mar Managing Employees Remotely (Recorded Webinar)

Managing Employees Remotely

Overcoming challenges in communication,
motivation, and employee engagement

Watch the Recording Now

The coronavirus is forcing many of us to work and manage remotely. With large numbers of employees working remotely for the first time and reading frightening headlines daily, managers have a whole new set of challenges to continue leading effectively.

Watch our webinar and you will learn:

  • The key challenges to remote work
  • Five important skills for effective remote collaboration
  • How to motivate and engage employees

This is a unique opportunity to fine-tune your communication skills. You will learn proven strategies you can put to use immediately with any remote employee or team to keep them focused and productive.

This recorded webinar is for:

Managers, Project Managers, Leaders, and anyone who wants to maximize their remote communication and collaboration skills.

Watch Now

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3 Mar Four Practice Strategies for Your Next Investor Presentation 

Raising capital for your biotech company requires more than a great product and a fancy slide deck. You need a combination of substantial scientific evidence, a great story, and a solid pitch. The road to funding is a long and winding journey, from extensive costs to regulatory requirements to navigate. What is often lost during this presentation brainstorm process is a rigorous practice schedule to hone and perfect your investor pitch. This article outlines the four imperative practice strategies biotech companies need to succeed. 

For some biotech executives, practice means memorization. While being very comfortable with your presentation material is a crucial factor, there is so much more to be done than rote memorization. The quality of your practice has a direct impact on the success of your presentation. Don’t worry about memorization; what is most important is HOW you say it.  

Once your investor pitch and the slide deck are created, your goal is to increase your market valuation by crystallizing your message using storytelling, evidence, and in-depth financial analysis. The four practice tools below will captivate investors and emphasize your value proposition. 

1. Structural Practice 

The structural practice covers the logistics of a group presentation. Questions to discuss with the presentation team include: 

  • How will we talk into the room, and in what order? 
  • Where will we stand? 
  • Will the projector/ screen be blocked if we stand in a specific spot? 
  • Who speaks first, second, third? How is the speaker role passed along, e.g., “Now Frank will talk about…”?
  • Will the PowerPoint clicker be passed along, and when? 
  • Do we all need microphones, or will one microphone be passed from person to person? 
  • If we had to present the same pitch in 10 minutes instead of 30 minutes, how will we achieve this? Who will speak? What will we share? What slides would we use? 
  • If the PowerPoint fails, do we know the order of the presentation? 
  • How will be exit the room? 

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18 Feb Three  Ways to Handle Investor Questions Confidently 

Questions are an essential part of meetings. When questions are asked, there is interest.  Questions can be a test not only for your knowledge of the content but your confidence in what you are representing.

The three techniques below will help you prepare for inevitable questions.

  1. Restate In restating the question, you are NOT adding any new information or changing the meaning.   Changing the meaning does not always mean words, many times it’s done with tone and inflection.  Also restating DOES NOT mean using the same words and ‘parroting’ the information.  When this technique is done well, the listener repeats the essence of the message with no judgment, emotion, or opinion implied. In other words – a neutral tone.  It’s much easier said than done.  It can be most challenging in an emotionally loaded conversation, which is also where it is the most powerful and effective.  The main resistance people have to restate a question comes from the fear that they appear to be agreeing when they do not.  Do not let this stop you from using this effective technique, as it is even more powerful when you do not agree with the other person’s statement. 
  2. Disclaiming–  Many times, people are fearful of answering because they want to have the right answer.  “I don’t know, but I will find out” won’t get you very far in business communication, especially when it’s used more than once. Learning how to frame your answer can help.  Some phrases act as a disclaimer so you can offer insight or at least the limited information you do have. 

(more…)

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4 Feb BUILDING RAPPORT QUICKLY

Investor meetings are difficult enough because you need to tell your story, what makes you unique, and why you are the right company for them to invest. In reality, though, the most difficult and important part is building the necessary rapport with the investors.

Investors need to see a potential business relationship that they can develop. Do you have goals, values, beliefs, and drivers that align? How do you know what those are for your investors? How do you connect in this way?

It is not easy. It is one of the reasons our executive communication coaches are brought in to help. It goes beyond process and structure into the psychology of communication and how to apply it. There are three steps you can take to better position yourself to build rapport quickly with investors. (more…)

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21 Jan Seven Factors Biotech Companies Should Consider When Using a Public Speaking App

AI, or artificial intelligence, has taken root in biotech. From lab assistants to drug discovery, AI provides a cheap, quick, and more effective process for advancementAnd the AI push is visible within public speaking development, from counting your “uh’s” to determining if you speak with enough passion.  

There is no shortage of apps, software, and computer programs that claim to increase your skill as a presenter and public speaker. Many Biotech companies have embraced Artificial Intelligence (AI) apps, software, and programs that offer a “speech coach in your pocket.” Should you whip out your credit card and sign up? And if you have joined the AI coaching bandwagon, what do you need to prepare for while using the app? Here are seven critical factors to consider:  

1) Technical Difficulties– Utilization of AI for improved communication skills is a reasonably new technology and there are still technical issues to prepare forBlank screens, constant reinstallations, “free plans” with little value, outdated versions that require a help desk to resolve, restricted content, a lack of continued learning opportunities after a certain point, lessons that won’t load, and any other tech issue you can imagine.  This puts a damper on progress. 

 2) Lack of Context – Your app may flag you for pausing too long, but if you are a skilled speaker, you can hesitate for an extended amount of time and investors will wait with bated breath in anticipation of what you will say. The app may tell you your pace was too fast or slow, but again, a speaker telling a funny story or sharing a heartbreaking loss will utilize different pacing speeds to help create excitement, momentum, suspense, or surprise.   (more…)

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7 Dec YOUR BIOTECH IDEA ALONE WILL NOT GET YOU FUNDED

When biotech start-ups go to present, the common belief is that the technology, biologic, assay, or molecule will be the catalyst for awarding funding.

No, it won’t. The fact that you have something that might work and be beneficial to some subset of people worldwide who suffer from a specific condition is how you got in the room. Whether you leave the room with funding is based entirely on what you focus on for the investors.

Today I will share with you the three things to focus on in VC meetings to get funding. There is one overarching factor in every one of these – you MUST provide value for the investor. (more…)

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25 Nov PERFECT BIOTECH INVESTMENT PRESENTATIONS ARE IMPERFECT

The concept of perfection in science is prolific. You want your research to suggest that your drug, therapy, etc. will work 100% of the time. That is impossible, but the goal is to get it as close as possible to every time on every patient with the fewest side effects. Most scientists in startups began as highly successful students who experienced some success at larger biotech companies or post-doc labs and then ventured out on their own. It’s in your makeup to win, to be successful in research, and to strive for perfection. Unfortunately, you are in business, where perfection is unattainable and often stands in the way of success. In a Huffington Post article published in 2013 by Carolyn Gregoire, she explains that the research on success shows that a focus on perfection correlates to a high amount of failure.

Since failure is not an option when it comes to funding, the goal is to mediate the anxiety that surrounds this contradiction between scientific training/success and business expectation. This anxiety correlates to a fear of speaking. I am not suggesting that anyone is afraid to talk to people, but that this speaking environment creates a fear response in us. This response can make us put off practice, focus on content and structure rather than delivery, and exhibit physical reactions – physically shaking, not breathing effectively, and potentially changing how we would normally speak.

We can help. First, don’t worry. Many people have this same fear. We recommend that you approach it both psychologically and physiologically.

  • The Psychology – When dealing with this fear response, it is important to physically write down the irrational beliefs you are dealing with and the corresponding rational reality you know to be true.
  • The Physiology – When you are dealing with the physical responses to fear, the best response is to relax. Our most effective relaxation tool at the moment is Diaphragmatic Breathing. When you breathe in, make sure your shoulders are relaxed, and your stomach moves out when you breathe. That means you are using the diaphragm. Each time you practice take one deep breath and try to count to 20 by saying “one by one and two by two and three by three” and so on until you reach 20. Practice this technique 10 minutes at a time, three times a week.

You cannot have a perfect presentation that will always get you the outcome you want. This is why you have a fear response. Using these tools, and many others will help you deal with the imperfection and present significantly better.

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18 Nov How your team’s non-verbal communication can destroy all of your progress 

I have helped many teams become more effective at presenting as a team.  Because humans are SO different and have SO many variables, it can be quite challenging to coach a team.  Most teams preparing on their focus on: 

  •      who will say what during which slides
  •      the order of presenters
  •     making the time fair/equal, etc.

 

Often teams are presenting because the stakes are high, and the consequences are critical.  And, of course, money is frequently involved either as part of a department budget, a start-up trying to get funding, and many other situations in which the listeners must hear from the entire team. 

The people listening to the team present will be acutely aware of all of the non-verbal communication of the team.  Whatever this communication reveals will carry more substantial weight than the words were spoken.  A well-known architectural firm who brought me in because they started losing projects that they should have won.  After assessing the team, I realized that one of the members did not get along with the others.  Despite well-planned, streamlined presentations they still lost, and they were dumbfounded.  What were they missing?  Their subtle nonverbal behaviors communicated the discontent within the team.  Despite the polite and professional words, the facial expressions, the lack of eye contact, the dismissive exchanging of documents, etc. were all indicators of discord within the team.  People believe what they feel energetical and what they see over what they hear.  It is SO SUBTLE.  These nonverbal behaviors are the kind of things that only human beings can detect . This client of mine needed a new type of coaching to get past the issues that plagued the team.  (more…)

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4 Nov How to present as a team

Team presentations are difficult. They are even more so when there is $10 to $50 million in funding on the line. The presentation sets the tone for the next year or years of your business. So, getting it wrong, messing up, or not presenting as a cohesive unit is not an option. The pressure is high, and the stress over getting it wrong is higher.

When we coach teams, who are looking for that essential round of VC funding, we find that one of the keys to relieving the pressure is working on the transition between different sections of the presentation and various members of the team. There are three steps to good transitions between people: (more…)

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