My transition from key player to coach of the entire team has required me to view things through an entirely different lens.
The past two years have been particularly tumultuous in our biopharma industry. Following a COVID-driven bubble, rising interest rates made it difficult to finance operations. Investors stayed on the sidelines, and there was increased scrutiny on every possible deal as people realized there was no quick investment exit. Decision-making within biopharma companies slowed as leaders attempted to manage the uncertainty.
Our industry needed to rebalance. This summer proved to be one of ebbs and flows, and now, with the election decided, there is still more uncertainty about what it means for healthcare, our industry, and what may be coming.
For me, there has been an additional layer of the unknown. It was exactly one year ago that I was promoted to the position of President of The NemetzGroup. It’s been a terrific ride, although, I confess, the learning curve has been steep. I have worked hard to keep all the necessary balls in the air, and my team has shown patience by allowing me to step up and lean in. I am incredibly grateful for their support and Sue’s continued mentorship throughout the transition.
As professionals in the pharmaceutical and biotechnology sectors, we share a common journey: advancing through the ranks, navigating transitions between roles, and embracing increasingly complex challenges. In the spirit of shared learning and collective growth, I want to offer some insights from my leadership transition over the past 12 months.
Our industry demands a unique blend of adaptability and strategic thinking, particularly as we move from specialized scientific roles to broader leadership positions. Whether you’re transitioning between pharma and biotech, stepping into the C-suite, or expanding your professional scope, these reflections aim to provide perspective and guidance for those charting their own professional evolution.
The Business of the Business
In my previous role as Managing Director, I was deeply engaged in consulting with current clients and pursuing new business opportunities. My primary focus was on driving and building the business daily. Therefore, when I was tasked with the new responsibility of overseeing the entire operation, I assumed this transition would be straightforward.
I was mistaken. This experience served as a profound reminder of the complexities of leadership and the necessity of adapting my approach to navigate the challenges ahead effectively.
I soon discovered that leading a business is far more than managing numbers. It’s about nurturing and empowering our team members to reach their full potential, enhancing our collaborative tools, and refining our processes to work smarter, not harder. All this while ensuring we progress and move purposefully towards our shared vision.
While these principles apply universally, they take on special significance in a company like The NemetzGroup, where our greatest asset is our people — a team of brilliant, skilled, and seasoned industry experts. In this leadership role, I realized the importance of looking beyond traditional business metrics and focusing on the human element that truly drives our success.
I Can’t Do It All by Myself
At first, I tried to take on everything. Managing the team, bringing in new business, optimizing resources, overseeing external relationships, driving our marketing efforts, and more. Those who know me will not be surprised by this.
As someone who has always been able to jump in and “figure it out,” I was taken aback to find that no longer worked — there simply weren’t enough hours in the day. Plus, I had to admit there are many things for which other people at The NemetzGroup are more qualified. More humbling growth.
It took me over half a year to realize I had to “elevate and delegate.” That meant handing responsibility to others and accepting that while they may approach things differently, they also want to grow and learn in their roles. Only by doing this could I free myself to focus on other areas.
On the recommendation of two of my peers, I read the book Traction, by Gino Wickman. Wickman teaches the importance of delegating to the right people, getting everyone aligned on the vision, and managing in what he calls “90-day rocks.” We are just beginning this work, and I am excited about the prospects of what we can do to build our company, serve our clients, and take care of the team.
People Matter. A Lot.
Of course, I always knew this and valued my team relationships. But as I got more and more distracted by the things I had to do, I pushed those relationships to the back burner.
Of course, I always knew this and valued my team relationships. But as I got more and more distracted by the things I had to do, I pushed those relationships to the back burner.
This came to light one day when Sue asked me about a client relationship, and I had to admit I did not know the answer. I no longer had, as Sue calls it, a “mental map” of our organization and what was happening. The reason? I had deprioritized my regularly scheduled one-on-one meetings with the team, pushing them aside for other things. I was no longer fully aware of what was going on.
So, I made some changes. I began the habit of starting our team meetings with kudos — celebrations of our respective accomplishments. We planned a fun team night out together as a way to better connect. I reprioritized those one-on-one meetings and got back to asking people, “How are we doing? What matters to you? What isn’t working?”
Self-directed people will always work hard, but most enjoy the collaboration and support that goes along with it. We all benefit from the improved results that invariably occur.
Macroenvironmental Trends Can’t Be Ignored
As President of this special company, my team relies on me to maintain a pulse on what is happening in the world at large. They are so deep in their day-to-day client work that it’s hard to pull back and stay abreast of the trends.
So, I need to find room to stay connected externally. It’s my job to anticipate and prepare for whatever impact new events, new players, and the ever-evolving regulatory and investment landscape may have on us, our clients, and our industry.
In our vision and organizational build work with clients, we dedicate significant time to analyzing trends across global markets, healthcare, biopharma, and their specific areas of focus. This comprehensive approach not only informs strategies and plans in meaningful ways but also equips both teams with a broader perspective.
Further, by staying ahead of these trends, we’ve cultivated a forward-thinking mindset within our organization. This has proven invaluable in developing our team members and enhancing their ability to anticipate changes and adapt quickly.
Overall, by integrating a macro-level awareness into our daily operations and client interactions, we’ve fostered a culture of adaptability and resilience — essential qualities for managing and thriving in these changing times.
Who You Are Makes a Difference
I have learned that I don’t have to make my entire life about work. As a wise friend advised, the work will still be there tomorrow. Besides, The NemetzGroup culture is specifically, overtly about delivering high-quality work and maintaining control of one’s life. It’s central to who we are, why we have such amazing talent, and why Sue began this company in the first place.
That said, trying to prove oneself early in a new position is natural. You want to show you are worthy of the role and demonstrate that you were selected for a reason. So, I went full steam ahead to 150%. Eventually, it became clear I didn’t need to prove everything in my first year. It was not sustainable and didn’t allow for the iterative process of experimenting, learning, and adjusting.
People pay at least as much attention to how leadership behaves as to what is said. If I’m overworked and stressed, it can create a swell of chaos in the organization. I’m sure some were thinking, “If she’s like this six months into the job, has our culture changed?”
I now try to be more deliberate about taking time off and setting an example of the importance of personal care and moderation.
Full Speed Ahead
It’s been a terrific year for me, full of new responsibilities, challenges, and (a lot) of new learning. I am grateful for all of it and look forward to many more.