What do you say when you're out of work?

Priscilla Claman, President of Career Strategies, Inc., a Boston-based firm offering career coaching services offered advice for how to "Tell your story" when you are unemployed in a blog for the Harvard Business Review this month. It is a quick read with some useful tips and links to topics such as how to stay positive and leverage social media for your career search as well as suggestions for navigating those tough interview questions related to your current "out of work" status.

If you have more time to delve deeper, she also contributed to the book, the HBR Guide to Getting the Right Job. It is full of suggestions for how to define your career path, compete in a fiercely competitive job market and land the right job for you. A sound career investment for only $19.95.

 

 

Assembling Your Start-Up Team: Balance is Everything.

You've come up with a great idea, drafted a business plan, researched the market, obtained the IP, and courted investors to close on financing. You’re exhilarated. I know this, because I’ve seen it so often with start-up clients at the Sonder Group, and before that at NewcoGen (a Flagship Ventures fund). You’re exhausted, too. And you’re just in time for one of the most demanding, delicate, and make-or-break balancing acts you’ll ever face: hiring your team.

When money is tight, always to use your own network first. That’s common advice, and it’s good. Hire people you’ve already have had success with, people you enjoy working with, and who know your market. Tap into your own network of colleagues, board members, advisory board members, and future customers to help you find candidates. At the same time, as Marshall Loeb of MarketWatch reminds us, “Don't hire someone just because you know them." I have seen early stage biotech companies regret hiring people with experience that’s not quite market-relevant, but whom they know, and whom they believe plausibly to be able to learn the job. Why the regret? Because there is no time to train employees — even talented ones. Everyone hired at the beginning should bring key knowledge that can help to propel the company forward and not hold it back, even temporarily.

There’s another balance to be struck between bringing in specialists and bringing in generalists. On one hand, early employees in start-ups inevitably end up wearing multiple hats. On the other hand, generalists with no initial experience in the start-up’s particular market can be a drag on progress. In this day and age, markets and technologies advance at lightning speed. The solution is to hire specialists from a competitor or who have already had success in the same job elsewhere.

Beware, however, of getting lured into hiring someone with a big name who is accustomed to working in a large organization with lots of support: that often leads to frustrations on both ends. When you court candidates, don’t, as I’ve often see start-ups do, fail to be transparent about the true challenges of the job. Try to be as open as possible. That way, when problems occur, as they will, your new employee is ready to meet them with resolve rather than surprise or disappointment. Once you've finally found the final candidate, what do you offer them? If you haven’t already, do some initial research regarding salary guidelines. This calculator can help you review the fully loaded cost of a head count. If you have a friend in the business, you might also want to sneak a peek at the Radford surveys. 

 

Communicate well with your board and plan the amount of equity you will offer. Start with a very open conversation with the candidate about their past and current compensation. Do a full accounting, including salary, commission, bonuses, equity, medical, dental, life insurance, retirement, car allowances, phone/office supplies, education reimbursement, and any other relevant components. Try not to expect that they will get so excited about the job they will take a big cut in pay. When the going gets tough, you don't want them questioning their decision to join. 

 

Finally, don't try to do it all. Outsourcing marketing, manufacturing, accounting, human resources, and other such jobs can help conserve capital and allow you to focus on the prize — successfully launching your venture. Research as much as possible: this Wall Street Journal how-to is a great place to start.

 

And of course, consider partnering with search experts for at least some of the top executive positions to minimize risk and maximize success.

 

 

 

 

 

Getting Practical About The Crystal Ball: 3 Actionable Lessons Job-Seekers Should Take From Industry Predictions

Let’s face it. New Year’s predictions are as plentiful — and perishable — as New Year’s resolutions. If you’re a life-science job seeker, however, keep in mind that this year will almost certainly ring in no increases in NIH grants and a continuation of challenges in Big-pharma  due  regulatory and legislative pressures.  That’s pretty decent incentive, if you ask me, to stick to your resolution to keep a practical eye on industry trends. Of course, as with any resolution, it’s all about actionability.

 

To get you started, let’s take three trends identified by Steve Burrill, as well-respected an oracle for our trade as there is, and look at how to apply those predictions.

 

Prediction #1: To mangle James Carville, it’s the sequencing, stupid. As Burrill says,"The focus this year will shift from the $1,000 genome to the $100 genome. It’s real. It’s happening. It’s the diagnostic of tomorrow."

 

Life Technologies and Illumina, two companies that have always primarily been tool suppliers, have clearly seen the advantage of applying their tools to diagnostics. Each is taking steps to morph into Roche- and GE Health-like entities. In 2012, Life Technologies acquired Navigenics and  Pinpoint Genomics. Expression Analysis began offering access to cutting-edge genomic tools such as NGS. They coupled this with a quality system environment and the CLIA-certified laboratory guidelines required by their customers working in clinical studies, and positioned themselves for greater activity in clinical diagnostics. Talk about understanding how to cross the tool/Dx chasm! They were highly successful and were bought this past year by Quintiles.  

Lesson: For candidates in the tools industry, if you have not been thinking Dx – start. Educate yourself about the personalized medicine and diagnostic fields. Opportunities abound for people who understand both the tool and Dx markets and how to bridge them.

Prediction #2. The synthetics are coming! Synthetic biology, which is even more powerful than genetic engineering, allows us to design biological systems in a rational and systematic way — in some cases to create that which has never been made. Burrill tells us that “Advances in synthetic biology will begin to transform manufacturing of everything from fragrances to fabrics as engineered organisms produce materials traditionally derived from plants and petroleum.”

Lesson: As industrial biology advances this year, employment opportunities expand. The need for microbiologists, molecular biologists, computational experts, educators, and journalists will increase in this area, as will the number of companies such as Sample 6 (food safety testing), Gen 9 (gene synthesis), and Joule (renewables), that need those people. New life science graduates should widen their thinking to contemplate this field instead of focusing solely on pharma.

Prediction #3: What the world needs now is food, clean food. Burrill says, “In 2013, there will be expanded use of biopesticides to combat insects and microoganisms that damage crops. Plant breeders will harness emerging technologies, such as RNAi, to produce a new generation of products that allow for greater crop yields without the stigma of producing foods that are considered genetically modified.”

Lesson: 2013 is truly the year to look at applied markets such as agriculture. The global food crisis and climate change will generate an increasing need for crops with greater productivity, greater ability to ward off pests, and greater ability to survive challenging weather conditions. Examples include companies such as Synthetic Genetics and partnerships like Monsanto and Alnylam applying genomics for pest control. This means expanded demand for new genomic technologies — and the people trained to develop them.  

All in all, the future will belong to the people future-oriented and flexible enough to plan for what’s next, rather than what was. Get out of your comfort zone and spend some time reading or attending seminars about these applied fields. Have a healthy, happy, and prosperous New Year, and hey — weren’t you going to drink less coffee?

 

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Job growth slow but genomics still full speed ahead

So we finish up the year with two mildly good stories. Unemployment continues to slowly tick down and the genomic world continues to speed ahead albeit with some slight hiccups. According to the US Department of Labor Statistics, we started out in January, 2012 with a 8.3% unemployment rate and will finish the year somewhere around 7.8%. That does not seem like a big difference but considering in Oct of 2009 we were at 10%, it seems a little more significant. My personal outlook is the job market in our life science and diagnostics industry is better than the national average. New companies that offer real value are still getting venture backing like Oxford Nanopore or Foundation Medicine. Today's bioscience worker needs to continually work hard to watch market trends but also try to get a view of those emerging companies, under the radar screen and be more diligent keeping up with the scientific literature and news to anticipate which new publication/discovery will become next year's company. 

It was a good year for genomics too with one or two hiccups. Helicos Biosciences, once considered a high flyer in the Next Gen sequencing market filed Chapter 11 Bankruptcy Protection in November. Complete Genomics stumbleda bit, had a layoff and announced they would be acquired by BGI. On the positive side, Next gen sequencing technology companies continues to drive costs down and throughput up. Science Magazine included results of the ENCODE project which generated 15 terabytes of data over the past five years to uncover the functions of human DNA sequences one of the most important science stories of 2012 - right up there with the Higs boson From a commercial perspective, the big companies continue to move more solidly into this space as evidenced by Quintiles acquisition of Expression Analysis. Roche, clearly seeing the future of genomics in the clinic made a bid for Illumina but lost that battle- for now. And finally, the bioinformatics space, fueled by genomics is growing leaps in bounds with lots of opportunities and new companies popping up. So all and all, 2012 was a good year with lots of prospects for making 2013 look even better.

 

 

Conference Networking Tips

Having just returned from the ASHG (American Society for Human Genetics) meeting in San Francisco, it occurred to me to share three top things to consider when networking at meetings. Whether you are trying to do a business development deal, start a scientific collaboration or network for your next job, here are three things to consider;

1. Plan ahead: We are all busy in our daily lives. It is easy to jump on that plane and figure out what you are doing at the conference while you pursue the schedule over coffee on the first day. Instead, start a month before the meeting and identify your goals, determine which people/companies you want to see then reach out ahead of time to set up meetings. This can be as casual as planning to stop by a booth, having a lunch meeting or attending an exhibit hall presentation by a company of interest to you. When reaching out to contact people, be clear, up front why you would like to meet them.  

2. Make it a two way conversation: Listen and speak in equal measure. Have your pitch of who you are and what you are doing clear. It is important to communicate to them what you want and why you are meeting with them but don't forget to return the favor. You may have goals of what you want to accomplish but ask yourself - What's in it for them? If it is not apparent how they might benefit from your interaction, just ask "What can I do to help you? or offer that you will "owe them one in the future." You will feel better for helping someone out and this can help keep the door open for future conversations.

3. Follow up: Whether there is a specific follow up action such as setting up a phone interview with a hiring manager, meeting with a scientist at the company or nothing in particular, closing the loop is important. Send a LinkedIn invitation or email them, thanking them for meeting with you that includes your contact info and a point or two from your discussion. It is a great way to develop a relationship, share connections and keep in touch for future opportunities.

If networking is particularly arduous for you, consider setting a goal for every meeting of how many people you want to meet. You can even make a game of it by collecting "X" number of business cards as a metric. One of the best ice breakers, I have heard at a biotech incubator meeting where most people did not know each other was "Hi. I set a goal that I would meet ten new people today. May I introduce myself to you?" If said with a sense of humor and a smile, this can go a long way to starting a conversation. So good luck and happy networking!

 

 

George Church meets Hollywood

Who knew that Stephen Colbert would be the superpower behind bringing genomics and synthetic biology to the "Nation"? In the past, he has hosted both Francis Collins, NIH Director and Craig Venter, founder of Synthetic Genomics and Celera on The Colbert Report to discuss the human genome and other topics. But this month, the general public got a real treat. George, not normally in the public-eye as much as some of his peers, made his prime time comedy début. He joined Steven to plug his new book, Regenesis:How Synthetic Biology Will Reinvent Nature and Ourselves. George talks about the personal genome project and synthetic biology while holding his own with the wily and energetic Colbert. Watch the Church/Colbert clip for a guilty pleasure then buy the book. It will make the perfect birthday and holiday gift for those budding scientists and just about everyone who wants a glimpse of what the genetic future holds.

Salary trends - Genome Web10th annual salary survey

For those interested in general salary and work trends in our industry, GenomeWeb published their 10th annual salary survey. They include a graph of median salaries in different regions from Researcher to VP of R&D and one that shows median salaries by title, gender and experience. Christie Rizk, assistant editor at Genome Technology does a good job summarizing trends and the article is definitely worth a read.