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Cold Calling is Dead

We’ve all been there. Business Development teams are heroes when they hit their targets and zeros when they don’t. What if BD teams asked their management to work on only 3% of daily tasks that could be accomplished? What would management say?

97% of Companies Are Not Actively Buying

It is estimated that at any given time only 3% of your market is buying. These active buyers are true sales leads. The problem with cold calling is 97% of your market is not buying today. So when sales teams are told to cold call for their leads, they are inevitably spending the bulk of their time with non-buying companies.

People Don’t Care How Much You Know Until They Know How Much You Care

This is basic psychology.

Q: Who do people trust and want to give their business?

A: People they know and people who show they care.

Let’s face it … all CRO’s are “Global Experts” in this or “World Leaders” in that so how can your company be viewed differently in the market?

Message, Timing, Image and Consistency

BioAlliance Strategies’ clients benefit from our background in traditional BD and Marketing within life science vendors.  They also boast averaging 20%+ open rates for their newsletters. Our model was built upon our struggles while inside these “Global” CROs where BD and Marketing didn’t actually work in concert. We’ve fixed that model.

Our model is built to provide targeted messages to targeted contacts in a coordinated approach. Your capabilities are delivered in a well thought out and planned schedule tying them to relevant and timely industry events of interest.

We then report to your BD team all activity of these targeted individuals … a “Warm Call” sheet not a “Cold Call” sheet. Your BD knows who read your material, how many times, if they went to your Website, LinkedIn or Slideshare accounts.

Contact Us to learn more.

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Slide1The role of Interim Executives. A synopsis.

To explain the role of interim executives, the following is an abridged version of my May 2013 article on the subject, and one of its sources.

Interim executives (herein: interims) navigate from small to large companies, and in some cases may occupy C-level positions for an extended period of time, at the behest of boards and investors.

As expected, the appointment of an interim is followed by immediate pressure to add value and benefit, often in very high-change environments. Unlike management consultancy, interims focus on implementation, team working, coaching and mentoring the existing team. It is a critical process best described as the quintessential “hands-on assignment”.

Although there are variations at the margins of interim management (with temporary workers, freelancers, contractors and consultants) the following factors are typical of the interim management value proposition:

  1. Return on investment. Interim managers add value by using their skills and expertise to help deliver an outcome, solution, service or mitigate risk that provides a meaningful ‘return on investment’ to a client. Interim managers are paid on the understanding of goals and objectives being performed and delivered, and not simply on the basis of attendance.
  2. Speed. Interim managers can be in place within days as opposed to weeks or months which is essential when time constraints are paramount. Being practiced in engaging promptly with the situation, they become effective quickly upon joining a client organization. Because of their experience and expertise, interim managers also conduct and complete assignments effectively and with due speed.
  3. Expertise. Interim managers typically operate at a senior level in the client organization, often being sensibly over-qualified for the roles they take on. They often bring skills and knowledge not otherwise in place, to address a specific skills gap or problem. Their experience and expertise enables them to be productive and make a noticeable impact from the outset, maximizing the likelihood of success.
  4. Objectivity. Unencumbered by company politics or culture, interim managers provide a fresh perspective and are able to concentrate on what’s best for the business. Being independent operators, they are able to contribute honestly without constituting a threat to the incumbent management team. Not being part of a larger business they are not pressured to unnecessarily extend their assignment.
  5. Accountability. Rather than taking on a purely advisory role, interim managers are managers who will take responsibility for and manage a business or project in their own right. They expect to be held accountable for results and by being instrumental in an assignment’s successful delivery; they give clients the peace of mind that the interim manager has stewardship of the project in hand.
  6. Effectiveness. Operating at or near board-level gives interim managers the authority and credibility to effect significant change or transition within a company. Unlike a ‘temp’, they’re not just there to ‘hold the fort’. They actively add value to the client organization as a result of their expertise and approach, even when the work and the decisions to be made are difficult.
  7. Commitment. Interim managers maintain high professional standards because their future work relies upon referrals and a successful track record. They therefore have a stake in the success of the assignments that they undertake. This contrasts favorably with other ‘temporary workers’ who may also be seeking ‘permanent employment’ or simply motivated by a day rate or extending their tenure.

Sources:  Michael Kaiser, May 07, 2013.

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Slide1Michael Kaiser, MA is now part of the BioAlliance Strategies team of Advisors where he specializes in commercial development solutions based on team leadership, building business alliances and finding and developing the right opportunities for deals that meet the challenging demands of companies in the areas of corporate development and IP licensing strategies.

Mr. Kaiser is a graduate from the University of Toronto (MA, International Relations) he speaks several languages and delivered guest lectures on global business strategies at Babson College and Bentley University Panel Judge at Harvard vs. MIT MBA Case Competition 2011 and MIT vs. Harvard MBA Case Competition 2012.  Michael is also a regular contributor to the McKinsey Executive Panel for Global Surveys.

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In 2011, Kelly Services found that the number of contractors had grown to 44 million as Americans desired more freedom, flexibility and ways to get paid for their professional skills. Recently, a study by MBO Partners projected that there could be 70 million contractors by 2020, creating a workplace environment with more free agents than full-time employees. That shows that we’re moving from an economy that supported full-time employment and benefits to one where professionals have multiple jobs simultaneously.

Companies are hiring more contractors than ever before because they save money and acquire niche expertise to solve specific business problems. This is different from full-time salaried workers who get benefits and are generalists in their fields. In 2009, companies hired 28% more contractors, and now in 2012, they are hiring 36% more, reports CareerBuilder. Other benefits of hiring contractors is that during slow periods, companies don’t have to hold onto them. Companies are moving toward a “hire at will” recruiting strategy and away from a “hire for life” one.

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BioAlliance Strategies announces a strategic relationship with Keynote Media Group to provide additional marketing/web design/content creation for our clients. Richard M. Hahn, Owner & President of Keynote joins BioAlliance in an advisory role for these critical. Keynote was established in 1977 and works across multiple industries such as healthcare, manufacturing, political and retail.

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BioAlliance Strategies is proud to announce entering into a strategic relationship with Le Mans, France based Enroute Sales to provide international tactical sales support with outbound calls to strategic and therapeutically aligned targets for our clients. Karen Watson-Robin joins BioAlliance in an advisory role for strategic sales. Karen founded Enroute Sales in 2010 to provide a bridge into French life science based clients from companies around the globe.