August 25, 2009

There Are More C's to Team Building

Yes there are. I have put C's to team building simply as a way to remind me of all the aspects that go into team building. There are many different areas that need attention from time to time if not daily. But that does not mean it takes an incredible amount of time. It is more about checking on tasks and giving bits of attention to the team. They need to know the leader is involved. So more C's?

Commitment- There needs to be a commitment to the goals of the team. This comes down to wanting the team to succeed. However this should be defined so each member knows what that means. Getting each task done every day is success. Learning new things is success. Being a part of the team is success. But where does the team need to go? Where is each destination? How does it tie into the company's vision?

Content- I view this as what makes a team a team? It consists of a training manual that is updated often. Policy and procedures manual along with everyday instruction. Content also consists of the things that are not written down. It is always an expectation for people to be professional. Even this needs to be explained and have the team understand the leader's definition of this.

Challenges- There will be challenges. This is simply going to happen no matter how good a team is doing. If they did not happen it would probably get a little boring. The most important thing about teams is not that they get challenges but more about how they react to this. The mindset needs to be to get challenge taken care of whether it is correcting something or reaching a goal.

Changes- There is nothing wrong with change. Yes it takes adjustment and sometimes is not easy but the more a person fights change the harder it becomes. Teams need to know that there will be changes. But I suggest that things are not changed for the sake of changing. I have seen this happen almost as if taking ownership of a team, but teams need to see the benefit or it can have ill affects.

Caring- Teams must be cared about. This is the easiest thing for a team to see if it is true or not. If they think they are not cared about there is no reason for the team to care.

Creation of a Winning Business Plan

Winning funding for a new pharmaceutical company, as well as becoming successful in this lucrative market space requires the creation of a carefully crafted blue print which details every aspect of your new (or existing business). Running a business without a business plan is analogous to flying a plane without a flight plan!

Pharmaceutical consultants have traveled this road before you, and have an understanding of what investors want to see, as well as what pitfalls you may have before you as you progress towards your goals. They can help you clarify your key objectives, and solidify your marketing, operations, and management strategies.

A good business plan has many elements. It should first have a comprehensive overview of what you want to accomplish, your measurable deliverables, and your key defensible advantages. This is particularly key, as you must be able to show investors that other companies have barriers to entry, and cannot simply copy your technology and beat you in the marketplace

Next, you must demonstrate the need for your product or products by showing the market size, and market projections going forward. This section needs to be carefully crafted so that it paints a realistic yet optimistic picture of the market landscape.

In the pharmaceutical industry, the operations plan receives a lot of attention. How are you going to make your products cost effectively? What manufacturing techniques will you use? What is the size of your production facility, and what are your plans for keeping it productive and controlling costs? What qualifications and standards must you meet in order to be able to release product, and how long will it take?

A Go-to-Market plan is essential to any complete business plan, and details your strategy for receiving market focus and actually selling your product. Here, you should describe your Marcom plan as well as your sales channel plan. Without a plan to reach actual customers, no product can be successful.

The final element in any business plan is what wraps it all together - your financial projections. Pharmaceutical consultants can help you develop something that is both conservative and interesting to investor - which is no easy task. If you are too aggressive - your plan will lose credibility. If you are too conservative, no one will want to invest. This is the area where a consultant with expertise can add considerable value, and save you time and money.

Solo Professional Marketing - 3 Simple Ways to Raise Your Profile in Membership Organizations

Membership organizations were a well-kept secret for me until about 3 years ago. And what I mean by that is I never belonged to one until I went solo!

I'm not sure why. Maybe I was comfy in my corporate selling role and it didn't occur to me to look outside for support or resources, or those in my network weren't on the membership organization bandwagon either.

But my eyes were opened wide to how choosing the right organizations could make a huge difference in expanding my network, reaching my target market, and raising my profile. And it can do the same for you!

3 simple ways you can raise your profile by joining an organization:

Choose the right organizations. This seems a little obvious, but it's important. Because you're a business owner, you wear many hats. Do some research into the organizations that serve the needs involved in running your business, and the ones that serve your target market.

For example, let's say your business is HR consulting. First research the groups that can support your role as a woman business owner (a group like eWomen Network fits this need). Then research the groups where those companies looking for HR consultants hang out (a group like Society for Human Resource Management fits this need). See the difference? Make sure to test the groups before you join; many organizations will allow you to attend as a guest first to see if it's a good fit for you.

Introduce yourself to the board, and stay in touch. I've grown so many business relationships and friendships just by getting to know the board members of an organization I join. And guess what? You stand out for making the effort, especially when you keep in touch, offer ideas, or provide valuable feedback to make their lives easier and the organization better. Those board members will think of you first when opportunities arise - it could be a speaking engagement, a new client opportunity, or a key introduction.

Join a committee or chair a board position. I can personally attest to the power of volunteering in a board position. First, when you raise your hand to lead, people take notice. And as an entrepreneuse, you WANT your clients and potential clients to view you as a leader. Second, you're now in a position to interact with influencers in your industry, especially if you're responsible for arranging speakers and programming for the organization. Both raise your profile, and build your trust and credibility.

 
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