Director, Business Strategies
Position Title: Director, Business Strategies
Department: Membership & Business Strategies
Reports to: VP, Business Strategies
Primary Purpose of the Position:
The Biotechnology Innovation Organization (BIO) is the world's largest trade association representing biotechnology companies, academic institutions, state biotechnology centers and related organizations. BIO members enjoy robust benefits, many of which enhance their ability to conduct successful business activities, including networking, education, and cost-savings.
Director will focus on growing non-dues revenue programs to address the evolving needs of the life sciences community. Not only will these products enrich members’ needs, but they will also provide important revenue streams to BIO. Candidate will bring a demonstrated ability to identify, develop, and manage new revenue opportunities to obtain maximum profitability. S/He must have savvy negotiation skills, strong management experience and a demonstrated ability to identify trends and new business opportunities.
Candidate will lead efforts in three primary areas: BIO One-on-One Partnering, BIO Business Solutions and new business enterprises. A brief overview of these activities is listed below:
- As a significant benefit, BIO offers an online Partnering system, which provides an effective tool for companies to arrange meetings with each other at conferences. BIO One-on-One Partnering allows individuals to communicate and schedule meetings with prospective investors, business development professionals, and other corporate executives.
- BIO Business Solutions (BBS) is the largest cost savings purchasing program for the biotechnology industry. BBS negotiates, on behalf of BIO and BIO affiliate members, significant discounts and other favorable terms on products and services from participating suppliers/partners.
- New business enterprises include the exploration, modeling, analysis and execution of new, innovative business ventures that benefit BIO members and provides a healthy return on BIO’s investment.
- Consider and recommend strategic initiatives/partnerships to support and expand revenue generation. Identify industry trends and develop new business opportunities that drive revenue growth, enhance membership recruitment & retention, and positively position the BIO brand.
- Implement successful strategies to grow BIO’s partnering system beyond BIO’s event portfolio and seek ways to augment BIO’s brand, services, business opportunities, and revenue through this online tool. Develop strategies to maximize BIO’s One-on-One System profile to other associations/companies. In coordination with BIO’s partner for commercialization, identify, review and recommend strategic partnerships to support and expand revenue generation.
- Work with industry / event executives to understand their value chain. Conduct market research to improve understanding of respective industry’s needs as they pertain to partnering and investment. Engage in competitive intelligence analysis of other industry events and partnering systems. Explore the risks and benefits of integration of partnering into other systems, both internal to BIO and external.
- Understand and develop strategies to create value or monetization from the substantial data assets within BIO systems.
- In collaboration with VP and Managing Director, explore ways to innovate the BBS program to enhance value and revenue. Opportunities may include re-negotiating existing programs, eliminating non-performing products, designing new services, and developing marketing strategies that increase program utilization. Convert these opportunities into strategies, RFPs and negotiations to add new partners into the BBS program.
- Serve as the primary contact with key vendors and associations. In this capacity, you will direct the entire lifecycle of business activities, including identification of new product opportunities, contract negotiations, and implementation of new programs. Develop favorable business objectives for BIO, track activity, assign accountability, and ensure overall program growth.
- Plan, develop and execute programs and initiatives that meet industry needs and contribute in significant ways to BIO’s financial goals. Direct the research, design, development, capabilities alignment, and associated fee and commission structures for new products and services.
- Work with internal teams to develop strategic marketing & communications of new initiatives.
- Be a BIO spokesperson, speak at industry events, write whitepapers, provide interviews, etc.
- Self-starter with strong interpersonal and communication skills in negotiation, alliance building, influence and consensus building.
- Ability to effectively work in cross-functional project teams with colleagues, member companies, program partners and other stakeholders.
- Demonstrated ability to develop a strategic vision to identify, develop and manage new revenue opportunities.
- Outstanding customer service with internal and external audiences.
- Experienced with delivering timely and accurate financial results.
- Superb organizational, verbal and written skills. Experienced communicator with internal and external leadership teams.
- Strong knowledge of the life sciences industry, including biopharma business development, search and evaluation, licensing, and investment.
- Familiarity with events and conferences involving biopharma partnering.
- Experience in negotiating, drafting and managing commercial contracts
- Experience in drafting, issuing and evaluating Requests-For-Proposals (RFP)
- Strong analytic capabilities and an understanding of the necessary market research and analyses, including financial modeling of revenue opportunities and writing business case(s)
- Computer savvy (Word, Excel, Access, Outlook, PowerPoint, CRMs, BIO One-on-One Partnering, and other databases).
- Capacity to travel up to 25% of time.
- Candidate will have an undergraduate degree (advanced degree preferred) in business administration, management, or a related area.
- Professional work record includes at least 7 years of trade association, life science industry, and/or business development experience.
- At least 3 years’ experience with biopharma, venture capital, pharma business development, industry analysts, and/or tech transfer.
- At least 3 years’ experience in developing, negotiating and implementing formal partnerships