How can we think about biopharma annual planning differently? The analogy we will draw on is fitness trackers and apps. Built for mindfulness and exercise, these tools create a habit for daily (weekly, monthly, etc.) self-challenges.
But why do we even need these things? After all, one can burn calories, exercise, and stand up all without a silly device. The answer, of course, is that these tools keep us on track. It reminds us of our goals, rewards us when we achieve them (it makes a nice sound), and tracks our overall progress.
Best of all, they keep us consistent. We (generally) don’t go weeks or months doing nothing and then try to “catch up” by exercising 10 hours straight in a single day.
Interestingly, when it comes to biopharma annual planning or drug commercialization, that’s essentially what many people do. They check out during the summer, and when the vacations are over and the kids are back in school, it’s a mad scramble to plan, execute, and use what remains of this year’s budget in Q4. Meanwhile, finance is already knocking on the door asking about next year’s plans.
This harried approach is both unnecessarily stressful and a missed opportunity. The summer and early fall offer a time to put plans in place, tap available resources (those summer interns are eager to jump in), and work with available tools.
A Steady, Consistent Approach Works Best for Biopharma Annual Planning
A fitness tracker helps us stay consistent. It removes the peaks and valleys of either doing too much or too little, making the exercise process more enjoyable and the results more long-lasting. The same principles can be applied to our work.
#1. Set Clear, Achievable Goals
When you first set up a fitness tracker you are asked to input a set of daily goals for calories, hours of exercise, and standing. Having these in place makes establishing the steps needed to make those goals a reality.
In the workplace, goals may be defined based on time frames, budgets, and resource availability. The more specific you can be about what you are trying to accomplish and when, the more opportunities there are to define the steps needed to get there. Clear annual planning goals also help your team stay motivated and energized; they give them a reason to come to work and jump in every day.
At The NemetzGroup, we rely on several key performance indices (KPIs) to keep our priorities aligned and the team clear about what we are working to achieve. This keeps everyone on the same page and allows us to make informed tradeoff decisions as are inevitably needed. It also shines a light on any essential pieces that may be delayed or missing, something that might not otherwise be noticed in time.
Use this quieter time of year to establish clear, achievable goals for the months remaining. Break down large projects into smaller, manageable tasks and set deadlines for each. As with exercise, consistent, small steps lead to significant and predictable progress.
#2. Develop a Consistent Planning Routine
Many have a weekly workout schedule — you might have one regimen for Monday through Friday and another for the weekend. Our routines impact how we sleep, eat, and interact with others during the day and allow us to stay balanced as a spouse or partner, parent (to a person and/or pet), friend, worker, and human.
Why not apply a similar approach to our work schedule? For example, dedicate Mondays to office-focused tasks. Dedicate time to plan for the week and review how you are tracking against your goals. Use the time to check in with your team to ensure they, too, are ready for the week. Midweek, switch to your to-do list and start knocking out your tasks.
During the summer months, dedicate specific times each week to reviewing and adjusting plans, and preparing for what’s ahead. Having a routine keeps us from getting swept up by meetings on the calendar or pressing things that may arise, either of which may tempt us to push off these important but not urgent things to another day. Ultimately, routine results in better outcomes.
#3. Leverage People, Tools, and Resources
When human beings are involved in long-term projects — like exercise or drug commercialization — these seemingly unnecessary tools serve to keep us on track and stay motivated. Having a workout buddy also helps immensely in sticking to the regimen and achieving goals.
Workplace tools such as project management software, calendars, task lists, and yes, consultants like The NemetzGroup, are intended to do the same thing. They ensure nothing falls through the cracks; they are fundamentally about supporting progress and forward motion.
Smartsheet, as you know from previous newsletters, is one of our team’s favorite multi-use software applications. We leverage the tool internally for the client-facing consultants to provide updates on their activities and track budgets. Our business development team uses it as an internal mechanism to track processes for generating master service agreements, client management systems, and purchase orders. It is easy to use and adopt, ensuring everyone has an aligned understanding of the current state of our business and can easily understand where there are opportunities and gaps. We also appreciate partnering with Corval® when a fully integrated commercialization map and resource plan are needed for an emerging biopharma client, together with the expert consulting support, guidance, and wisdom possible with The NemetzGroup team.
Other people, specifically a workplace “buddy,” can also help planning and execution stay on track. Most of our clients work across functions and teams. Inevitably, collaboration is required to move a plan from start to finish. Having a colleague or consultant pair with you on the planning makes it easier to delegate roles and responsibilities to ensure the timeline does not waiver. This also helps to alleviate stress in carrying the burden by yourself and provides thought partnership to elevate the content and implementation.
Overall, these tools and workplace buddies ensure we have the right people, at the right time, doing the right work, to accomplish the right goals.
An Ongoing Practice
Exercise and mindfulness tools are all about keeping us balanced mentally and physically. We benefit when we apply this same regularity and discipline to our work. Strategic biopharma annual planning, in particular, is best approached as an ongoing practice; results suffer when it is tackled in a one-and-done, rushed manner.
Embracing these planning principles and making them a habit will pay off. Regular engagement, consistent effort, and planning during slower times can help us seamlessly transition into the final quarter of the year with confidence and clarity.