What are some of the key skills and competencies of a commercialization leader?

There are regulatory and compliance needs that also need to be identified as opportunities. These are rapidly changing phenomena and new products or solutions help tap this gap and help companies tap into new markets.

This role requires a diverse skill set that combines business acumen, leadership abilities, strategic thinking, and a deep understanding of the product or service being commercialized. Some key skills and competencies that are important for a commercialization leader are: (1) understanding the market, (2) strategic thinking and planning, (3) the ability to develop a deep knowledge of the product or service, (4) project management experience, (5) sales and marketing experience/competence, (6) negotiation skills, (7) regulatory and compliance knowledge, (8) communication skills... and I can go on and on and on. Basically, it requires, at baseline, a broad set of skills and the adaptability to obtain competence in areas where there are gaps.

Commercialising medical technology in an African context involves unique challenges and opportunities. Specific examples include mobile health applications enhancing remote patient monitoring and solar-powered medical devices overcoming electricity shortages. Critical competencies for a commercialisation leader in this realm include a deep understanding of local healthcare needs, proficiency in navigating diverse regulatory landscapes, and cross-cultural communication and partnership-building skills. Additionally, expertise in sustainable business models and technological adaptation for resource-limited settings is essential.

Two key expectations of commercialization leader in pharma are: ? Execution of the Strategy ? Value Creation Internally focused skills Setting clear goals tied to company vision and strategy; aligning team to the goals; providing team the resources and motivational support to execute strategy; building relationships within the organization to access support when necessary. Externally focused skills Knowing your product and how it aligns with patient profile; Knowing competitive landscape and how it is expected to evolve; Understanding evolving payor dynamics; Understanding patient needs, removing the barriers between your product and the patient. Humility, listening to your team, and appreciating team contributions can go a long way.

We have to first assume the person in the role didn't get there by office politics, but only by effective business acumen of understanding effective commercialization. Second; The most effective commercialization leaders, have an uncommon eye for uncovering, identifying and eradicating the deficiencies and gaps in all 10 components of commercialization. Third; They need to create and implement strategies and tactics that create the opportunity for potential customers to be attracted to the product or service, see the need to adopt the product or service and then be a committed user of the product or service. The reason failure rates of companies are 55-65% at 5 years is because of ineffective commercialization leadership.

The key to innovation is uncovering value to customers or organizations that was previously unseen. A commercialization leader has to drive the value equation to customers who may still need to see the total value. Commercialization starts with the old "jobs theory" concept - what is the customer hiring your product for? "I need a hole in the wall & the best drill may not matter." A leader must be ruthless in ensuring teams know where the value is.

To truly instill an innovation mindset, a commercialization leader must also practice "Inclusive Innovation." This involves seeking ideas not just from the core team but from a diverse range of sources, including customers, partners, and even other industries. By breaking the silos and tapping into diverse thought pools, they can uncover unique, cross-functional solutions. Additionally, the leader should embrace a fail-fast approach, viewing failures as rapid learning opportunities, ensuring that the team isn't discouraged but instead is spurred to iterate and refine. Harnessing tools like design thinking workshops can further stimulate creative ideation and ensure customer-centric solutions.

La innovación y la capacidad de generar ideas e ilusión en sus dirigidos es fundamental en el rol del Lider Comercial. Debe estar fomentando permanentemente que sus dirigidos esten aportando nuevas ideas, y ver cuales se pueden tomar y estimularlas. Debe asumir riesgos tanto en la forma de liderar, como así también en lo referido a la gestion con los clientes y sobre todo con el cumplimiento de los objetivos.

In the dynamic landscape of innovation, a Commercialization Leader stands as a catalyst for transformative ideas. One of three most important and essential skills defining their success is : Visionary Thinking: In the realm of innovation, a Commercialization Leader is a visionary, shaping the future by conceptualizing products and services that resonate with evolving market needs.

Si sumamos el amplio conocimiento del mercado, y la innovación como factores determinantes en el rol del Lider, automáticamente estaremos delante de alguien con gran visión para los negocios. Hay que bucear en las necesidaes del mercado, y lo que los clientes manifiestan, para empezar a encontrar nuevas alternativas de negocio para su equipo. Alinear los objetivos de la compa?ía con las de su rol, mas con los objetivos del equipo es fundamental a la hora de establecer las pautas de trabajo y como medirlas.

business acumen is crucial for a commercialization leader. I recalled a project where understanding the market dynamics was pivotal. We meticulously analyzed customer insights, mapped industry trends, and aligned our product strategy accordingly. A comprehensive business case that not only secured funding but also propelled a robust roadmap, boosting our product's market penetration by 30%. Moreover, a strategy I found incredibly helpful was leveraging cross-functional collaboration. Integrating legal, finance, and R&D teams streamlined compliance processes, mitigating risks and ensuring our product met regulatory standards while staying aligned with our organizational vision, and also fostered a culture of synergy and innovation.

La planificación y la ejecución de proyectos se transforma en una tarea clave en un lider comercial, por lo tanto debe contar con gran conocimiento en como llevar adelante y gestionarlos. La relación y coordinación con la totalidad de las areas que forman parte de un proyecto, es tremendamente improtnte, para que lleguemos a un buen puerto. En todo proyecto hay riesgos que deberá el lider comercial ser capaz de proveerlos, de manera tal que no afecte con las expectativas creadas en el cliente.

A commercialization leader should also practice "Networked Leadership." This means leveraging connections outside the immediate team or organization to amplify influence. By nurturing a vast, diverse network, they can gain access to varied insights and resources, helping in informed decision-making. They must be adept in emotional intelligence to decipher unspoken cues and adjust their communication style, depending on the audience. Such leaders often adopt a "servant leadership" stance, placing the team's needs above their own, fostering an environment of mutual respect. Furthermore, embracing continuous learning, staying updated with industry trends, and demonstrating adaptability are key to leading in ever-evolving markets

Un factor fundamental para que todo lo expuesto en este artículo funcione, es el gran poder de un buen manejo de las relaciones y con esto la construcción de redes. Pues esto da la llave de entrada, desde la confianza, el profesionalismo, que el desarrollo de productos y servicios son para el bienestar real del grupo objetivo para el que fueron creados. Esa llave de entrada, funciona con un equilibrio en el equipo que la acciona de la manera adecuada, a través de la multidisciplinariedad.

A diverse set of experiences across multiple functions and disciplines are critical for future success. A commercial leader must be able to know what they do not know and rely on their team to inform their decisions. Appropriate levels of delegation and follow-ups/reviews are two other skills that a good commercial leader must have. In the lifescience industry, an understanding of regulations and a strong undersatnding of the healthcare system are a must.

If it's a medical device they need to understand the contracting process and who will actually pay for the device along with the process of getting onto the contracts necessary for their customers to use the product of service.

Considering leadership and influence, recall Howard Schultz of Starbucks. Initially joining just to manage retail sales and marketing, Schultz's trip to Italy inspired him. Recognizing the communal vibe of Italian espresso bars, he proposed Starbucks evolve from selling beans to creating coffee experiences. Met with resistance, Schultz persisted, piloting his vision with Il Giornale coffeehouses. This concept's success led him to acquire Starbucks in 1987, transforming it globally. Schultz's journey emphasizes the power of conviction and innovation in leadership. Sometimes, immense growth lies just beyond traditional frameworks, awaiting leaders bold enough to envision and act.