Chris is an Adelaide based business consultant. He has extensive experience in the health care industry focused on clinical research, diagnostic pathology, pharmaceuticals and medical devices.
Chris has extensive experience with the adoption of new products into the market.
More recently, he has worked with a diverse group of SMEs in the entrepreneur’s program. His focus now is to help entrepreneurs work on the company rather than in the company.
Management needs to step back and look at the business as a whole. Take a more objective standpoint and awareness of the business. The entrepreneurs need to believe in themselves and recognise where their fundamental skills lie.
His passion is in business development and growing businesses. Owners and Directors need to develop a dynamic strategic viewpoint. The board of directors needs to guide the company into the future. How is the market changing? What are the key drivers?
Raising funds can be a significant barrier to business growth. In the health care space, everyone is risk-averse. The quality of clinical research is paramount.
It is essential to express upon investors and the market that what you have has a clearly defined and demonstrable benefit.
COVID-19 has changed many market dynamics. E.g. Recent research has shown that there has been an increase in alcohol consumption, and weight gain is not associated with cardiac disease. This means the old health messages may need reasserting.
In the health sector, awareness is an essential issue and constant theme.
Companies need to pivot, but a crucial part of this is listening to customers and working out how to add value to what is required. Provide a clear understanding of what the companies purpose is to the market and the customers. The communication message needs to be clear and to resonate with the target market. Companies need to show leadership.
People are struggling to make all the necessary adjustments. E.g. The geopolitical situation related to the pandemic has changed Supply chains.
Teams that work remotely are a challenge for leaders. How to best create the environment for remote working. Have clear priorities. The company’s actual value is to develop the situation so that the CEO is not essential 100% of the time. What to do with the workforce – retraining, repurposing or redundancy. Clear communication is essential for reducing misunderstandings.
Industry 4.0 is all about how best to meet the needs of the customer.
Summary:
· Focus on gaining awareness and clarity of purpose
· Have a strategy to get there.