picture2picture3picture4

case1

case1 1

case 1 2 1

case1 3

BioVigilant Systems, Inc. was founded in 2002 to develop and sell devices to government and government contractors that detect the presence of weaponized bio-agents such as anthrax. After manufacturing the product, the government-related market was slow to develop, which caused the Board to look for additional uses for the Company’s IP.

 

case1 2

Determine if there is a market other than government for the Company’s IP. Detector If there is a market, define and execute a “go to market” strategy.

 

 

case1 5

Utilized the On Target Method™, a deliberate, defined process for determining the existence of a potential market, defining market requirements, developing the strategic plan, positioning the client’s company and products for success, and, if desired, executing the plan.

Following The On Target Method, the first step was to deconstruct the company’s IP, thereby removing biases that can limit creative thinking.  From there, the Company’s IP was “re-assembled” into several alternative provisional value propositions, which were tested by talking with at least three thought leaders in each provisional target industry.

Market attributes were examined, including:

i) market size;

ii) prospects’ perceived significance of the problem (pain);

iii) the urgency with which prospects want their pain removed;

iv) the ability of prospects to pay for the solution;

v) the relative dispersion along the product adoption curve (greater dispersion means it is easier to introduce new products); and,

vi) the extent to which customers would view the BioVigilant solution as a proprietary advantage against their competitors (the less so, the better for BioVigilant).

The candidate target industries were then ranked in terms of attractiveness to BioVigilant and its IP.

More intensive investigation was done in the most attractive industries, which included generating a full understanding of the culture, attitudes, business issues, technology and processes, pains and biases of each target industry.  Finally, the best target industry was chosen (in this case, pharmaceutical and bio-pharmaceutical manufacturing), market requirements were developed, an overall strategy was developed (including positioning, marketing, sales and FDA submission), that strategy was reduced to an operational plan, and the plan was executed.

The term “Instantaneous Microbial Detection” (“IMD”) was invented, hardware and software product specifications were defined and the development of proprietary software (“PharmaMaster”) was managed.  The company’s Web site was re-designed to be consistent with the new company and product positioning.  Collateral material was created, and, with the help of the CTO, the white paper was written and distributed.

With the company’s CTO (who has great talent in this area), initial sales calls were made, and afterwards, the sales cycle was defined and follow through calls were made.  During the entire process, great care was given to providing value to BioVigilant’s customers.

 case1 6

Under direction of the CEO and while working with a team that included the significant participation of the CTO, managed all marketing and sales aspects of the Company’s strategy and execution of its introduction into the pharmaceutical manufacturing industry.

Got white paper published in 8 + publications (4 languages), at no charge.

Properly positioned IMD so that prospects would understand its value.

Many “thought leaders” were identified and  transformed from disinterested third parties into solid allies, willing to refer BioVigilant, speak and publish on BioVigilant’s behalf.

Created and executed successful plan for IMD Consortium, which had 14 of the largest pharmaceutical manufacturers in the world, and 9 of the world’s largest 35.  Consortium members tested IMD and helped to co-define the overall FDA submission process.

Made sales in to 13 pharmaceutical manufacturers (some of the largest in the world), with the foundation created for follow-on sales to these same customers.

Initiated contact with 30+  additional pharmaceutical manufacturers, all of which are now prospects for IMD, in varying stages of readiness to buy, and extremely well positioned.

At the beginning of the assignment, BioVigilant was not known in any significant way within the pharmaceutical manufacturing industry.  By the end of the assignment, BioVigilant’s brand and reputation were enhanced to the point that the company and IMD were known by most major pharmaceutical manufacturers, and sought after by many well- known potential partners and distributors.

 

Please click on the links below to go to the case study.

Next case study...

Develop and Execute a Strategic Alliance to Create a Sustainable Competitive Advantage and Increased Profits

Obtain Favorable Financing from a Strategic Alliance Partner, then Position and Sell  a Software Company

Position Company and Product, Develop Value Propositions, Implement and Execute New Sales Process

Decide Which Brand(s) to Offer in a Rapidly Changing Market,  Create and Execute the Sales and Marketing Plan

Decide Whether or Not to Go to Market

 

case1

case 3 1

case 3 2

case1 3

IMSI was a five year-old company that developed and sold software applications to physicians’ offices. Due to slow market acceptance, IMSI required a cash infusion in a very short period of time. IMSI’s existing investors were unwilling to provide additional funding, so other sources had to be found. Additionally, IMSI’s Board was interested in IMSI’s sale on an expedited basis.

 

case1 2

Alter OSI’s overall product offering to make it more compelling, profitable and sustainable, while creating a barrier to entry for OSI’s competitors.

 

 

case1 5

Solution to short-term cash needs: Identified several industry targets based on a list of attributes that included interest in IMSI’s technology and market addressed, the financial wherewithal of the target, and likelihood of quick success (since time was a significant factor). Conducted an intensive campaign that included cold calling, referrals through industry influencers and experts, independent research, and contacts made at trade shows. Positioned IMSI’s cash needs to target alliance partners in a timely and compelling way as an

opportunity, specifically tailoring each presentation to the needs of each prospective partner. 

Solution to sale of the company: After solving the problem of the short term cash needs, expanded the list of targets that were used to solve this problem to include potential acquirers with longer decision timeframes, which in some cases was needed in order to secure financing to complete the acquisition.  Positioned the Company to satisfy the specific, individual needs of each potential acquirer.

 case1 6

To solve IMSI’s short term cash needs, identified Spacelabs (Redmond Washington; then a $300 million public company) as the target alliance partner and negotiated a deal wherein IMSI received sufficient capital to continue operations for over six months, without taking on debt or creating dilution for IMSI’s shareholders. Then, identified the company that eventually acquired IMSI and negotiated the sale on terms favorable to the Board. Given the negative financial status of IMSI at the beginning of the assignment, both results were achieved under significant time pressure.

 

Please click on the links below to go to the case study.

Next case study...

Re-position Existing IP, Formulate and Execute New Marketing and Sales Strategy

Develop and Execute a Strategic Alliance to Create a Sustainable Competitive Advantage and Increased Profits

Position Company and Product, Develop Value Propositions, Implement and Execute New Sales Process

Decide Which Brand(s) to Offer in a Rapidly Changing Market,  Create and Execute the Sales and Marketing Plan

Decide Whether or Not to Go to Market


case1

case 4

case 4 1

case1 3

KL had developed and implemented software to be used by manufacturers and retailers that used the Internet to make sales, both on-line, and off-line.

 

case1 2

Re-position the company and its product (which was developed for an application that was not marketable “as is”), and effectively market it to companies willing to pay for it.

 

 

case1 5

Deconstructed the intellectual property (IP) of the company in order to better understand and unlock its underlying value.  From that point, reconstructed the IP in several different ways and subjected each variation to competitive and market analysis in order to determine the most advantageous company and product re-positioning.  Developed a “go to market” strategy that best matched the reassembled attributes of the company and product to the attributes of the target customer that would find such attributes the most compelling.  From these matches, developed a strategic marketing and sales plan that included the definition and purpose of several discrete stages in the sales process, including:

  • Defining the attributes of the most likely customer targets.


Identification of the targets themselves.

  • Cold call approach and cold call scripts.
  • Customer “Needs Analysis” format and execution.
  • PowerPoint presentations and demonstrations using the “live” software.
  • Return on investment calculations and justifications.
  • Closing presentations.

 case1 6

 

newsletter

These newsletters are the result of the accumulated knowledge and wisdom gained from almost 30 years in the business world.  Topics include how to properly position your company and product; common mistakes; the steps of the sales process; how to choose a distribution channel, and other “hands on” subjects.

The objective of each newsletter is to justify your investment of time in reading it by providing you with one or more actionable steps you can put to work right away to create more profit for your company. 

archives

4 Minutes and 2 Steps to Maximize Your Profit / How To Position Your Company and Product for Maximum
Acceptance by Your Customer and Maximum Profit for You

Common Mistake #1: Defining Product Specifications (and Believing You Can Build a Company)
By Talking Only With Innovators

Common Mistake #2: Introducing Your Product Before It’s Ready, or, Wait! (Orson Wells Was Right)

Investors / How to Be Like Them, Think Like Them, and Sell to Them.

The Joys and Revelations of Objections / How to Process Objections and Turn Them Into Sales.

Demonstrations -- The Last Thing You’ll Do / When to Give Them; How to Set Them Up

Common Mistake #3: Not Matching “One Who Receives Value” with “One Who Pays”

How to Understand and Profit from Negotiation

Everything You Need to Know About the Sales Process, In One Sentence With Two Steps

How to Make a Lot of Money / Or (More Accurately) How To Make More Than You Would Have Otherwise

How to Staff Properly, Manage People Well, and Be A Great Leader

How to Think

Windows of Opportunity-- Alluring, But Dangerous

How to Get Better Results While Working Less Overall / Or the Magic of the Extra 10%