A Successful Business Strategy
Jun 3, 2014
The title is very misleading but perhaps it attracted your attention. Search this topic and you will get over one hundred million hits. Whether you have a strategy or plan, once implemented it will need to be modified sooner rather than later. What has worked for us at Rockland is our willingness to develop relationships and collaborations based on Rockland’s strengths & weaknesses, which has us constantly reviewing our plans.
First and foremost is to have the right people on your team. This is a collaboration which can last a lifetime or be as short as you would like as long as all parties go into the relationship with eyes wide open. Think of this as a marriage. Unfortunately, many marriages do not make it past a few years. But it still can be rewarding. Agree to terms, set an agenda and keep measurable goals so that when things happen you will have had some indication it was coming. For Rockland, looking at our strengths, it was apparent that a scientist who could manage projects was needed. Our first Laboratory Director had all the characteristics for which we were looking. Unfortunately after two years it was not meant to be. We were achieving none of our goals and were constantly in the red. It took two more attempts until the right individual joined Rockland. This is among our most successful collaborations.
Having a motivated team working toward a common goal is a powerful force but is only the first step toward an effective collaboration. Developing the process in which to scale one’s ideas is critical to anyone trying to build a business. At Rockland we have successfully partnered with leading academic, government and industrial organizations from the National Cancer Institute to Pall Life Sciences. Rockland focuses on its core technology of Antibody Development, Purification & Conjugation and aligns it to the interests of its partners. We have done this successfully in North America, Europe and Asia.
As are most businesses, Rockland is very product oriented. We use many metrics to measure success and are constantly evaluating our collaborations to ensure the development of superior Life Science Research Tools which are commercially viable. The People, Process, Product is not new and has been most recently popularized by Marcus Lemonis in the TV series “The Profit.” We have been following this idea for over three decades.