It's biotech positioning week!
This is the first in a series of excerpts from my forthcoming ebook: "Biotech Positioning for Growth & Investment: Or Why Your Product Isn’t the Point."
Biotech companies are founded and run by extraordinarily intelligent, well-qualified people. PhDs and MBAs from the world’s top universities, as well as successful track records in entrepreneurship and leadership are table stakes. Moreover, the work biotech firms do and the solutions they create are usually ingenious and highly complex. And therein lies a significant problem.
Executives in biotech tend to be obsessed with the scientific or technical intricacies of their offering. That’s great for product development. But it’s the polar opposite of where your positioning needs to be, to drive business growth or attract investment.
Great positioning is actually simpler and more obvious than you might expect. Which is exactly why you have probably overlooked it. And its simplicity is also why it’s so valuable – because your competitors will continue to overlook it while you take action.
But be warned: The fact that it’s simple, doesn’t make it easy.
Tomorrow, I'll be explaining what positioning is - and isn't.
Like this? Sign up to my Insperatus newsletter.
Copyright Hamish Mackenzie, 2020