Credibility is essential for leaders in any industry, but in the high-stakes world of pharma and biotech, it is even more critical.
As someone who has worked with biopharma leaders across all levels, I have had the chance to help leaders and their teams navigate challenging business questions in cross-functional settings, to enable the collective talents of their teams. One piece of advice to those leaders is to lead teams as you would run an experiment: set clear objectives, expect a few unexpected variables, and don’t get discouraged if the early results yield more questions than answers! That clarity, confidence, collaboration, and course correction matters.
Recently, we conducted a webinar with a group of new life science CEOs. Our objective was to share insights and advice from our 20+ years supporting leaders across all stages of growth about building credibility and establishing a presence. It was a terrific discussion; so much so that we decided to share the top-line concepts with all of you.
Here are the five foundational building blocks we outlined. For new leaders, this provides the essential building blocks; for those who have “been around the block,” it will hopefully be a good reminder.
#1. Evidence-Based Communication
Leaders must not only understand the science and data behind their technology or asset, but also communicate it with precision and consistency.
Product credibility is often synonymous with company credibility, especially in biopharma, where investors, partners, and regulators scrutinize every data point and statement. Companies with strong scientific leadership raise capital faster and inspire greater confidence. First-time CEOs sometimes learn this the hard way.
Practical Takeaway: Use simple, precise, and consistent language to tell your story. Seek external validation through public forums. Be rigorous with internal data thresholds before making public claims. Get a second set of eyes on the story before the high-stakes meetings.
#2. Strategic Fluency
The ability to craft, articulate, and operationalize a sound strategy is a key to success.
Even a brilliant scientific breakthrough can falter without a robust business strategy that encompasses capital allocation, market awareness, and partnerships. Leaders must think beyond immediate milestones and ensure their organizations are prepared for long-term success. For new leaders without this strategic capability or background, tap advisors and ask for feedback along the way.
Ultimately, companies that endure and leaders who succeed are those that remain focused, humble, and adaptable in a noisy, fast-changing market.
Practical Takeaway: Surround yourself with both strategic thinkers and operational experts to ensure strategy is grounded in financial and market realities. Use a “what if” dashboard to model different scenarios and maintain flexibility in your plans.
#3. Purposeful Prioritization
Indecision or diffuse priorities can kill momentum and prevent organizations from gaining traction, both internally and externally. We often see this in our work, where leaders struggle to clarify the questions they are asking us to help them solve. Often, we will ask, what decision will this work inform to enable an actionable plan?
Leaders must anchor their organizations around their lead value drivers and resist the temptation to chase every adjacent opportunity. Regularly reassessing and communicating priorities ensures everyone is aligned, especially in challenging times. Know which decisions are “today decisions” and which decisions can wait. Trust your instincts if the evidence is unclear.
Practical Takeaway: Regularly reassess and communicate priorities. Understand that governance (even in small companies) and the ability to make tough, sometimes unpopular decisions are essential for sustained credibility.
#4. Network Integrity
Building and maintaining relationships with trusted advisors, experienced board members, and cross-functional teams enhances credibility and opens doors to capital and opportunities, even during market downturns. This includes hiring people you trust to bring your vision to life.
Maintaining your network requires an investment of time. Ultimately, people invest in and work with companies because they trust and believe in the leader and their network.
Practical Takeaway: Recognize that not everyone will stay with your company forever. Be prepared to make difficult decisions about team composition as circumstances evolve.
#5. Emotional Agility
Leadership requires the ability to manage one’s emotions, demonstrate empathy, and set the tone for organizational culture. This kind of emotional intelligence (EQ) is a proven differentiator in leadership effectiveness. It is also much more challenging in a remote working environment where spending time in person is less frequent.
Leaders must balance empathy with accountability, knowing when to be supportive and when to make tough decisions. Authenticity, trustworthiness, and resilience inspire teams and stakeholders, reinforcing a leader’s credibility, especially in turbulent times.
Practical Takeaway: Identify your personal emotional triggers and develop strategies to manage them, whether that means taking a break, going to the gym, or simply recognizing them. Self-awareness helps maintain composure and effective leadership in high-stress environments. Ask for feedback, especially in tense business situations.
Credibility Is the Currency of Leadership
Each of these building blocks serves to reinforce a leader’s reputation, foster trust, and attract the support needed to drive innovation and impact.
By focusing on these practical takeaways, new leaders can position themselves and their organizations for long-term success in our competitive and ever-evolving industry.
It is a gift to work with these leaders so early in their CEO journey. I have become a better leader myself because of these opportunities.