About Me

Summary & Application

Using a financial model, the value of an opportunity can be assessed in dollar terms. This includes evaluating an asset like a new drug or ingredient and can be applied to an entire portfolio or business at any stage of development. Key concepts include internal rate of return (IRR), net present value (NPV), and discount rates. Financial modeling can be used for new product introductions or acquisitions and is a common element of a due diligence package. Elements that are incorporated into a financial model include assumptions around competition, market size, pricing, cost of capital, revenue sources, cost of goods sold (COGS), selling and administration, research costs, and regulatory costs, to name a few. I have modeled drugs (pre-clinical and clinical), diagnostics, ingredients, and advanced materials.

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Toolbox

• Competitive analysis

• Fixed & variable costs

• Pricing/volume

• Scale-up & COGS​

Summary & Application

Although I've written substantial portions of NIH Phase I SBIR research plans, my skill set is concentrated on writing the commercialization sections of Phase II and IIB STTR/SBIR grants. It is important to tell the right story. Various elements must be combined, from an innovation, marketability, and feasibility standpoint. Key to success is understanding how your technology and resulting product is differentiated from competing proposals. It has to be simultaneously novel and intelligible, impactful and practical, cutting-edge with commercial potential. Including the right tools enables the writer to present an elegant argument alongside sufficient referenced material.

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Toolbox

• Positioning map

• Stakeholder map

• SWOT analysis

• Porter's Five Forces

• Target product profile

• Gantt charts

• Financial model (see above)

• Financial statements​

Summary & Application

From a practical standpoint, negotiation tactics must employ an objective understanding of the risks and benefits. Within biotechnology, tactics include narrowing the field of use being discussed, or geography; substituting equity for cash, or developmental milestones that escalate as risk is reduced and value is unlocked. The negotiation players must be credible, from their experience and professional candor, to the facts they can present that back up their arguments. Each side needs to also be able to replace players and reset the negotiation playing field. This requires self-awareness and emotional intelligence.

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Toolbox

• Industry comparables

• Negotiation canvas

• Financial model (above, as usual)

• Competitor matrix

• Stakeholder map​

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Summary & Application

Depending on the stage of your technology, it can be a good thing to go "stealth" and not display information that can compromise future IP filing or tip off your competitors. My position is to maintain a web presence as soon as you incorporate. This is as much for you as it is for your website visitors. Working on a clear, communicative website allows you to organize your thoughts, tell a story, educate, and increase awareness about your team and your company. As your web presence grows, so do your opportunities to communicate with key stakeholders, such as potential customers, partners, and investors. Simple ways to do this include incorporating a simple 2-way communication system like a chat box, announcement bar for virtual or in-person events, news reel to highlight activities and accomplishments, and lead capture system for newsletters and sales prospecting. Last, by incorporating an analytics software you can track the effectiveness of campaigns and monitor the site flow of visitors for optimizing user experience.

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Toolbox

• PRWeb

• Wix

• Squarespace

• MailChimp

• Google Analytics

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