Interview with Dadrian Eason, Freelance Business Development Consultant,1IB International Business
How do you see the importance of virtual networking platforms for business development in the pharmaceutical industry?
The undeniable strength of a face-to-face meeting remains, but the effectiveness of virtual networking has been showcased throughout coronavirus quarantines, and we are sure to see its acceptance grow in the coming years along with a significant reduction in travel budgets.
What is your opinion on the evolvement of the pharmaceutical industry in the last 6 months? How will it shape up in the future?
Technology is driving every industry and pharma is no different. From early-stage eclinical platforms, to hospital diagnostics and devices, to post-marketing real world evidence solutions we are seeing everything move more quickly and efficiently through technological advancements, and not even COVID can stop that train.
What are the therapeutic areas that will be a trendsetter in coming years?
Oncology will continue to be massive post-COVID, but considering recent successes with removing the stigma from conversations about mental health in our communities, coupled with the ongoing opioid epidemic, I anticipate an upswing in breakthrough psychiatric and pain therapies (CNS).
What are ways to identify a new market to enter?
Pay close attention to recent education and labor statistics. What demographic is “trending”? Where are the people from/going who are graduating at higher rates and taking the top jobs? These people are winners, and big winners are big spenders. As they say… follow the money!
What is your preferred strategy for finding business partners?
1-on-1 partnering sessions at conferences are my favorite. When a prospective partner who has paid to attend an event knows what I have to offer and agrees to spend their time sitting down with me… that scenario is ripe for a deal!
What do you consider as most important indicators before closing a deal?
Trust and likability are the keys to a closing a deal that feels great. Afterwards, the amount that trust and likability levels drop or increase will directly impact the likelihood of repeat business in the future.
What are the three most important factors when evaluating a deal?
Time, quality, and cost.
How would you keep in touch with existing customers?
However they prefer. Whether I have 5 different clients or 50, I appreciate that each situation is unique. A willingness to adapt to a client’s preferences requires some flexibility, but will prove worthwhile as they are subconsciously contemplating whether they like and trust me. Again, always take advantage of every little opportunity to build trust and/or likability.