Get the best assets
Develop a proper validation process that helps you make the right decisions
Your company has invested huge amounts of money for the development of a strong sales and marketing structure on certain markets. Promoting a product in healthcare is very expensive, so in most cases you need to develop a proper portfolio that fits with your business model and makes it more profitable. Most probably your R&D department, if any, does not generate enough products to feed your portfolio and, consequently, you need to work with external partners to fill the gap. You may be asking yourself:
- How to find the best products which perfectly fit my business model in such a large global marketplace? What is the best strategy to approach companies which are developing products that match my interest?
- How should I validate the new product within my existing business model? Is the validation process the same for all of my targeted markets? Does my business model create and deliver enough value to make it profitable?
- How can I communicate this internally, along with the product owner to make sure we all speak the same language? How can I manage such a complex multicultural, multidepartmental and multidisciplinary project?
- How can I align my team’s understanding and needs while also including those of the external parties?
- Should I pivot my business model to take advantage of any unexpected opportunities?
- In case the product fits my product portfolio, how should I negotiate with external parties? Should I propose terms or should I expect the owner of the asset to bring the terms to the table?
- Am I sure I am moving in the right business direction?
At trifermedCBDO we have the methodology, the competence and the expertise to help you manage this fascinating process. From business model design (or a review of an existing one) to guiding you through the validation of the new product opportunities, working together as a team, we will support you along the process to make sure that your business model makes sense and brings sufficient value to the market. During the process we will be continuously introducing you to new products for your selected markets (based on the right asset profiling) and we will learn together from the feedback market by market.
The outcome of the process will help you make the right decisions:
- If the feedback from the process is positive and the hypothesis is validated, you may decide to move into a negotiation process with the interested parties and build up the best partnership to move towards commercialisation of the selected product. The trifermedCBDO team will also support you during the negotiation process bringing together our expertise from more than 130 successfully signed deals.
- If the feedback from the process is negative and the hypothesis is not validated, you may decide to pivot to a better business model or simply stop your interest in this specific product. You should not worry in this situation as there will be many more assets to validate.
In any of the above scenarios, the feedback from the market will be key to helping you make the right decisions.
Please do not hesitate to contact us by phone or directly, by sending an email to any of our team members. We will be pleased to provide any additional information you may need. We look forward to hearing from you and having the opportunity to provide you with state-of-the-art business development services.