Life Sciences 2.0 ? The science of selling science | Insights on Sales ...

Life Sciences

For many life sciences companies, the science of selling has reached the selling of science. Yesterday?s life sciences world focused on in-depth product knowledge and scientific features?explained to scientific buyers by sellers who related well to people like themselves?namely, other scientists.

A Transforming Business Model. The buying model for life sciences companies is changing rapidly, marked increasingly by a buying process for life sciences equipment and services that involves business buyers. These ?economic buyers? represent sophisticated, large accounts?often with powerful procurement departments. In addition, product and market evolution is driving traditional research-oriented companies into the hospital and doctor?s office, which represent different buying needs and selling challenges, with less ?science? in the sales process.

Life sciences sales leaders are grappling with these new realities. They face both slow-to-no growth traditional markets and fast growth, resource-hungry emerging markets. The need to optimize sales models and increase sales productivity in this diverse and changing marketplace has never been greater.

Lessons from high tech. Recent Alexander Group sales analytics benchmarking reveals that life sciences companies spend far less on a per-rep basis than high technology companies and even medical device companies. Furthermore, life sciences? spend on productivity investments such as deal support, pre-/post-sales support, sales operations, training, and demand stimulation is 56-75% lower as a proportion of total spend compared to technology/medical device. More dollars are going towards ?infrastructure? or ?cost center? type expenses such as benefits, T&E, sales meetings, and telephony as a proportion of total sales operating expense (see chart below).

The current life sciences sales investment profile supports the traditional product-focused, science based selling model that has dominated the life sciences industry for many years.

Questions for life sciences sales leaders. But life sciences sales leaders must begin asking the question ? is more sales-focused talent needed to address these market changes? How must we equip our sellers differently to tackle this new environment? Can we shift sales investment dollars away from infrastructure and into productivity enablers like skills training and demand stimulation? Will this require a net increase in sales expense, or can we keep total sales spend neutral while making these changes?

And, perhaps some answers. There are several steps life sciences sales leaders can take to get in front of these market changes. Consider the following actions:

1. Carefully analyze and benchmark your sales investment profile. Is your allocation of sales dollars aligned primarily with the old scientist-to-scientist selling model? Or are you adapting your sales investment model to include more sales enablement?
2. ?Evaluate your selling roles. Are new or modified roles required to effectively reach today?s economic buyers? How might inside sales play a role to create higher efficiency selling at reasonably low cost? Evaluate rep and first-line sales management talent/competencies to ensure capability for responding to Life Sciences 2.0 challenges.
3. ?Create sales operations and sales support structures that will maximize rep productivity and return selling time back to reps. Strike a balance between strategic/enablement operations functions (e.g., sales strategy, capacity modeling) and more basic support functions (e.g., order management, data management, compensation administration, etc.).
4. ?Redesign sales compensation to match desired selling behaviors. Our research shows that life sciences companies spend ~30% of total sales compensation on variable pay ? compared to technology and medical device companies at 40-50% spend on variable pay vs. base salary. Carefully consider the use of more aggressive plans to attract, retain and motivate the Life Sciences 2.0 seller.

A recent Alexander Group client engagement focused on benchmarking the sales investment portfolio, identifying key account management coverage options (vs. multiple specialists calling on the same customers) and redefining pre- and post-sales support groups with appropriate resource pooling to drive greater efficiency and more focused sales effectiveness. Improving Sales ROI through a careful ?redistribution of sales investment wealth? drove key recommendations for the client.

The DNA of life sciences sales organizations is evolving, and Sales ROI is the new mantra. Having the courage to challenge traditional sales models will be a hallmark of sales leadership success going forward. The ability to skillfully manage sales operating expense to tune the sales model engine to a lean but high-impact machine?this is the game changing skill set for Life Sciences 2.0.

Learn more about The Alexander Group?s services.

Arshad Carim is a Principal in Alexander Group?s San Francisco office, with 11+ years of consulting experience on sales strategy and sales execution engagements at small high growth, mid-market, and Fortune 1000 sales organizations. Arshad leads the Alexander Group?s Life Sciences Sales practice, and enjoys working with clients to drive top-line growth through improvements to sales effectiveness and sales efficiency. His work includes key elements of the sales model including segmentation & targeting, coverage strategy, sales process and productivity improvement, role and organization design and evolution, and sales rewards program development. With experience across multiple industries including life sciences, medical device, software, hardware, media, electronics, and general B2B, Arshad leverages his cross-industry depth to create high impact solutions for clients. And through his client work, Arshad has developed deep insight into the sales challenges at companies operating with both direct and indirect channel sales models.

Source: http://www.alexandergroup.com/blog/life-sciences-2-0-the-science-of-selling-science/

september 11 2001 blake lively serena williams Espn Fantasy Football Grandparents Day 2012 army wives 60 minutes

Major League Baseball Brings Archives, Highlights And Live Streaming Games To YouTube (But Not In The U.S.)

Major League Baseball has always been very strict about its content appearing on YouTube and other video streaming sites. Peruse YouTube for highlights from your favorite players and teams, and you'll find it nearly impossible to find quality footage. As soon as a clip from a game goes up on YouTube, it's taken down. Up until now, it's just a collection of slideshows and footage uploaded from fans' shaky hand-held cameras at the ballpark. Finally, Major League Baseball is stepping up its effort to tear down those walls.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/CsmmzU4aPTQ/

bill maher seabiscuit dingo nba all star weekend malin akerman jeff carter chomp

Rutgers alumni call for probe on coach's firing

Former Rutgers men's basketball coach Mike Rice leaves his home Wednesday, April 3, 2013, in Little Silver, N.J. Rice was fired Wednesday after a videotape aired showing Rice using gay slurs, shoving and grabbing his players and throwing balls at them in practice. Athletic director Tim Pernetti was given a copy of the tape by a former employee in November and, after an independent investigator was hired to review it, Rice was suspended for three games, fined $75,000 and ordered to attend anger management classes. University president Robert Barchi signed off on the penalty. But on Wednesday, Rutgers referred to new information and "a review of previously discovered issues" as the reasons for Rice's termination. (AP Photo/Mel Evans)

Former Rutgers men's basketball coach Mike Rice leaves his home Wednesday, April 3, 2013, in Little Silver, N.J. Rice was fired Wednesday after a videotape aired showing Rice using gay slurs, shoving and grabbing his players and throwing balls at them in practice. Athletic director Tim Pernetti was given a copy of the tape by a former employee in November and, after an independent investigator was hired to review it, Rice was suspended for three games, fined $75,000 and ordered to attend anger management classes. University president Robert Barchi signed off on the penalty. But on Wednesday, Rutgers referred to new information and "a review of previously discovered issues" as the reasons for Rice's termination. (AP Photo/Mel Evans)

Former Rutgers head coach Mike Rice is driven from his home, Wednesday, April 3, 2013, in Little Silver, N.J. With political and social pressure mounting after video showed Rice screaming gay slurs and shoving, kicking and throwing balls at his NCAA college basketball players, the university fired Rice on Wednesday, and then did their best to avoid the blame for not getting it right four months ago. (AP Photo/Mel Evans)

In this four-image combo taken from an ESPN video, Rutgers men's basketball coach Mike Rice kicks, shoves, and throws balls at his players during NCAA college basketball practices in Piscataway, N.J. Fueled by outrage from even the governor when the video went public, Rutgers fired Rice on Wednesday, April 3, 2013, after deciding it didn't go far enough by suspending and fining him for shoving, kicking and throwing balls at players along with spewing gay slurs. (AP Photo/ESPN)

FILE - In this May 6, 2010 file photo, Mike Rice, left, former coach of Robert Morris, is introduced as the new men's basketball coach of Rutgers by athletic director Tim Pernetti, during a news conference at Rutgers in Piscataway, N.J. Rutgers has fired Rice after a videotape aired showing him shoving, grabbing and throwing balls at players in practice and using gay slurs during practice. With mounting criticism on a state and national level, the school decided to take action on Wednesday, April 3, 2013. relieving Rice of his duties after three largely unsuccessful seasons at the Big East school. (AP Photo/Rich Schultz, File)

NEW BRUNSWICK, N.J. (AP) ? Mike Rice was fired as the Rutgers men's basketball coach after a video surfaced showing him shoving players and berating them with gay slurs, but critics said New Jersey's flagship public university still has more explaining ? and maybe some more firing ? to do.

A group of 13 faculty members Wednesday demanded that university President Robert Barchi resign for his "inexcusable handling" of the situation.

Alumni, lawmakers and a gay-rights group are among those calling for an investigation into why university officials took months to fire Rice after getting the video from a former basketball program employee in a scandal that touches on two long-standing issues on campus: the role of sports and the treatment of gays.

"If the roles were reversed and this was a professor and not a coach and this was a student in the classroom as opposed to a collegiate player this would be completely different. You wouldn't say, 'This was a first offense,'" said Glenn Articolo, a radiologist who lives in Marlton and a 1991 Rutgers graduate. "There's not a single employee at Rutgers University from the president to the janitor who wouldn't be dismissed immediately. It seems there's a double standard when it comes to the basketball coach or the football coach."

Some alumni say athletic director Tim Pernetti should also be dismissed and some are questioning what Barchi knew, and when.

In a statement Wednesday, Barchi, who took office in September, said he was told of the video in November and agreed that it would be appropriate to suspend Rice, fine him and send him to anger management counseling. But he said he saw the video for himself only this week, and it was then that he decided Rice should be fired.

Pernetti also issued a statement Wednesday, but he and Barchi were not made available to answer reporters' questions.

Because he lasted the season, Rice is due a $100,000 bonus on top of his salary. He was paid $622,500 in 2012. Athletic Department spokesman Jason Baum said he'll get the bonus for coaching the final game of the 2012-13 season last month because it's contractually obligated.

Assembly Speaker Sheila Oliver, a Democrat who spoke about the topic on several radio and television shows Wednesday, is calling for legislative hearings on the details.

The gay-rights group Garden State Equality also called for an investigation.

Much of the anger over the university's handling of the situation came because Rice was not fired until after the public saw the video.

"Why did they fire him? Just because the tape came out?" asked Jim Walton, a 1980 Rutgers graduate who is now a compliance and ethics manager in Philadelphia. "They already knew the truth. If he should have been fired today, he should have been fired a long time ago."

Some at Rutgers, a long-time also-ran in major sports, have been debating for years whether it's been worth it to spend more money and put more focus on trying to elevate the university's football and men's basketball programs.

The university has also dealt with how gay students are treated since Tyler Clementi, a freshman there, killed himself in 2010 days after learning his roommate had used a webcam to see him kissing another man. The roommate spent 20 days in jail last year after a jury convicted him of bias intimidation and other crimes in a case that sparked policy changes to try to make Rutgers friendlier to gay students.

"After the suicide of Tyler Clementi, I thought my alma mater would take the use of gay slurs by any member of the Rutgers community ? students, faculty, administrators, or coaches ? seriously," said Debbie Hadley, a 1991 Rutgers graduate who is a naturalist in Jackson. "Clearly, Tim Pernetti did not. And yes, I believe he should be fired, too."

Some students agreed that the coach needed to be ousted.

Alison Coopersmith, an 18-year-old first-year student majoring in political science said that if gay slurs are not tolerated by students, they shouldn't be tolerated by professionals, either.

"It's worse when they're in a position of power," she said.

But on campus, not everyone was up in arms Wednesday.

Taylor Akers, a 19-year-old sophomore pre-med major, said Rice should not have been fired. "That happens all the time," he said.

___

Mulvihill reported from Haddonfield. Also contributing to this report were AP reporters Katie Zezima in Newark and Angela Delli Santi in Trenton and sportswriter Tom Canavan in Piscataway.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/386c25518f464186bf7a2ac026580ce7/Article_2013-04-04-Rutgers-Rice-NJ/id-6ba92f672ec94f8bbf4fa8ab658bbe67

Cyber Monday 2012 Walmart.com detroit lions

Is Bitcoin Legal - Business Insider

It's illegal to make your own money in the United States, but that doesn't mean the feds will shut down the digital currency bitcoin anytime soon, financial services lawyer Dan Friedberg tells us.

That's because the feds don't consider bitcoin ? a virtual currency that's being used around the globe ? to be? "tender," or official bills or coins that look like they've been issued by the U.S. government. Instead, it's considered "virtual currency."

The federal government made that distinction clear in a recent announcement that it was applying money-laundering rules to bitcoin and other virtual currencies.

The Treasury Financial Crimes Enforcement Network (FinCEN) didn't mention bitcoin by name, but the new rules applied to "convertible decentralized virtual currency" exactly like bitcoin, Friedberg says.

Bitcoin enthusiasts were a little on edge before FinCEN issued its notice.

"This is a a very new area, and you really never know how the Treasury Department is going to react," Friedberg says.

Here's what Friedberg had to say in an email message:

"Prior to the FinCEN release, a significant concern was that the US government might assert that bitcoin constitutes illegal tender. Indeed, the United States Constitution delegates to Congress the exclusive power to mint coin within the United States to insure a singular monetary system for purchases and debits. The Department of Treasury therefore could have taken the position that bitcoin constitutes an illegal competing currency that violates this fundamental constitutional power, but chose not to do so. Instead, FinCEN distinguished a 'virtual currency' from a 'real currency,' and noted that a 'virtual currency lacks all the real attributes of real currency.'"

It's possible that the federal government is letting bitcoin stick around because it's not much of a threat to U.S. currency. Right now, bitcoin's only worth about $1 billion compared to the $1.18 trillion in U.S. currency that's in circulation.

Bitcoin is also relatively unstable, Internet law attorney Mike Young points out.

"If Bitcoin exchange rates stabilize, and the digital currency becomes preferred over the U.S. Dollar at some point, that? would be the probable tipping point for banning it within the United States," Young tells us.

For now, bitcoin is able to exist in part because it's in the "gray area" of international currency that's based overseas, according to Young.

"If Bitcoin were purely a U.S. domestic currency," Young says, "it would have been shut down a long time ago."

Source: http://www.businessinsider.com/is-bitcoin-legal-2013-4

Alexis Wright Zumba binder full of women Microsoft Surface Candy Crowley binders of women presidential debates Felix Baumgartner