Biotech Scale Up Support

Recently Invested Biotech: A fast start sales program

Introduction

The Biotech, which completed its first funding round in 2023, has developed groundbreaking testing process that allows food and pharmaceutical companies to speed up their product develop programs. The technology reduces the need to embark on multiple expensive development cycles.  

With this novel technology and a team of experienced scientists, the Biotech faced the crucial task of expanding its market reach and securing new clients. As with many scale-ups, achieving first-year sales traction was critical.

 The Approach

I worked closely with the team to develop a comprehensive sales plan, to recruit a new sales team and agree sales processes to them to deliver sales to new customers as quickly as possible.

The sales processes and review cadence that we embedded ensured that, as an independent business, we had a robust sales process operational very early.

The Outcomes

A Skilled Sales Team: Within 8 weeks we recruited two highly motivated and capable salespeople. Using Indeed.com we minimised recruitment costs.

Sales Processes: Collaboratively, we introduced a weekly sales forecasting system, opportunity win plans, large company account plans and demand generation KPI.

Successful Demand Generation: An effective lead generation programme generated a pipeline of qualified prospects in their specialised markets, providing the sales team with the correct number of opportunities to engage with potential clients and drive business growth.

Effective Networking Strategies: We developed an effective method for booking meetings at industry events, enabling the company to generate additional sales leads and rapidly expand its network within the target market.

Achieved First-Year Sales Target: The company is on track to meet its ambitious first-year sales target.

 Conclusion

The partnership, characterised by open communication, mutual respect, collaborative design, and a shared commitment to achieving common goals, was instrumental in driving the company's growth and success.