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.

 

Getting Past Truthiness: Three Ways to Assess if You’d Be Happy (and Effective) at a Startup.

Startups inspire so much excitement that it can be easy to forget that working at one is not for everyone. When I assess candidates for “startup affinity,” I sometimes see Colbertian truthiness rather than real self-awareness about preferences and strengths. As you consider your career, it’s critical to identify what your interests and comfort zone really are, rather than what you want them to be or assume they should be. To do that, ask yourself these questions:

1. What’s Your Risk Tolerance?  You’ve probably thought through your financial risk tolerance in the context of managing your 401K and other investments. But as you consider whether a startup could be a good match for you, it’s critical you think about how much safety you need in other ways, as well. Being tasked with building value when a path has not been laid out yet is not for the risk averse. Ask yourself whether you could be comfortable making changes on your own, or if you feel more at ease executing an established plan. If the latter, a startup may not be the place for you. You have to be the kind of person more concerned with the positive growth aspect of a company than the possibility of a layoff — and that’s not everyone.

2. How Wide (and Flexible) is your Skill Range?  In Fortune 500 companies, employees develop deep skill sets in specific areas such as project management, process scale-up, or cost-effectiveness. Working in a startup, however, is all about finding and implementing (or managing the implementation of) solutions — whether the challenges you face fall under your previous expertise or not. In a startup, for example, the duties of a VP of Sales may include building and managing a team as well as direct selling, technical support, customer support, business development, and marketing. This is a dream to one person and a nightmare to another. And guess which belongs in a startup?

3. Are you a Grower or a Manager?  Creating something unique and amazing — even if that means thinking in entirely new ways — is a key motivator for entrepreneurial types. Consider whether you gravitate to the challenge of building something from the ground up, or if you’re attracted to managing well to continue sustained growth. Would you rather develop a business plan that dazzles customers and leverages everything your company has to offer, or would you rather work to deliver on part of the plan?

In the end, one set of preferences isn’t objectively better than the other — even though the amount of ink spilled about entrepreneurs might lead you to believe otherwise. Success can be had in a variety of ways, and in a variety of venues: going against your grain seldom results in value creation or career satisfaction. Whatever your professional preferences, know them for what they are, and don’t settle for what you think they should be. Remember: To thine own self be true. Not “truthy.”

What I’m Looking For: Three ways to define what you need in a critical hire.

Finding the right person for a critical position is a multistage, multifaceted process, but not one, as Bono sings that has to feel like "climbing the highest mountain."  It all starts with the hiring manager getting very clear and very specific about the qualifications and qualities that will bring value to the team and the company. It can be difficult to distill down exactly what you need, but it’s necessary – not only for writing the all-important job description, but also for knowing what to look for in candidates during the hiring process. In my experience, the three most important things to keep in mind are domain experience + success + chemistry.

1. Domain experience

Candidates often tout their flexibility and ability to learn new things, and there are indeed times when a company knows that some amount of retraining is inevitable.  For the most part, when training is a luxury of yore, it’s far better to seek industry-specific experience. If that sounds too picky, just consider how irrelevant next gen sequencing is to the in vivo imaging market—aside from matters of reimbursement, of course. If you can, go for candidates who understand the specific technology/market in which you play.

2. Success

It is one thing to have had experience in a particular job, and quite another to have consistently met or achieved goals. Look for candidates who can show they’ve knocked it out of the ballpark. Ask candidates to share success stories; expect them to bring ideas about how they can add value to the company or to their group if they are hired. Basically, find the consistent hit-makers like U2, not the one-hit-wonders.

3. Chemistry:

One of the most difficult elements to assess — because it’s completely intangible — is chemistry. On the one hand, Myers-Briggs philosophy would say that a team should have all kinds of different personality types in order to bring a full complement of skills to the table. Some employees should be high-energy and risk-taking, for example, some cautious and methodical. On the other hand, similar kinds of people can often work better together, especially if their working style reflects — or has been honed by — the culture of the company. Either way, think carefully about what type of employee and what working style will be effective in a particular role and on a particular team. 

It's easy as one, two, three.

 

How is your job search like an investment pitch?

The 8th Early Stage Life Science Conference last week in Boston was a fantastic event as usual. Organized by Abigail Barrow, Director of the Massachusetts Technology Transfer Center with support from Merck and Reid Leonard, Managing Director at Merck Ventures Fund, it offered a showcase of exciting early stage companies ranging from Bionic eyes, novel gene transfection approaches and cures for septsis and cancer. It included several impassioned presenters, talking about some novel ideas to advance healthcare - sure to get your inner geek on. But one of the most interesting talks was delivered by Richard Anders of Massachusetts Medical Angels - how to make pitches stronger. He was speaking about seed-round financing for early stage CEOs but his points are useful to job hunters. In the end, it's the same goal - how to make a more compelling pitch. Whether it is an infusion of cash for a Newco or closing on a new job, his points are noteworthy.  

1. Pedigree: Newcos must highlight strengths, experience and "know how" of the CEO and management team. The parallel for candidates is probably obvious. A good candidate must be comfortable talking about themselves and able to relate their experience and background in a compelling way. Talk about your education, work experience and why you are an "A player". Translate your strengths into how you can add significant value while minimizing risk for the company. Eric Gordon, CEO of Atentiv, a personalized digital learning tool company is the master. If you can ever see him pitch, don't pass it up. He has raised ~$116 million from investors and returned ~$1.4 billion in cash in 4 of 5 exits to investors and it shows.

2. Proof: Seed money is tight and so is the job market. According to Jeremy Halpern of Nutter McCleen & Fish, there is a massive decrease in seed stage deals - In fact, a 48% decrease 2010/2011 year on year, as venture funds go upstream to support later stage, less riskier companies. Now more than ever, an early stage CEO needs to demonstrate there is a market need for their product or a clear mechanism of why their solution works. A job candidate must do the same. No hand waving allowed. Early stage companies and candidates must clearly back up statements with proof and examples of success with solid metrics as well as third party validation. Be prepared to talk about your successes and what you have learned in the process. How would you translate those to the companies you are currently interested in joining? Who do you know and how valuable is the network you have built over the years to the companies you are interviewing with?

3. Get the story right: In a Newco presentation, the "story" must be focused and crisp. Too many new CEO's get lost in the details and forget to summarize how an approach solves a major unmet need. I have seen candidates do a similar thing and fail to communicate exactly where their expertise lies and how they may provide a unique skill set to a hiring organization. A great elevator pitch is key. In both cases, it is critical to communicate a compelling story. Practice. Practice. Practice. Just as a Newco CEO spends significant time on her/his presentation, job seekers should do the same. And if you do get it all right, there should be a pot of gold at the end of the rainbow.

 

Tips for College Students (aka - my future clients)

The job market is improving for those graduating from college these days especially for those who plan well. Here are 4 tips to improve your chances of landing a great job:

1. Think of your resume as a direct extension of you. It has the power to open doors or slam them shut. Go to your career office for free templates and advice. Really spend time on it. Share your draft with friends, family and professors until you get it right, and be open-minded to constructive criticism. When you are happy with how it looks be sure to save it as a PDF file so it does not get edited when you send it out to prospective employers.

2. It's never too early to start using Linkedin. If you are not familiar, it is like Facebook, only for work and professional networking. Never post anything that is less than completely professional. Write your profile then join relevant job groups such as your college group, groups associated with your major and other focus groups that you may be interested in. Most colleges/universities also have alumni groups which can be very helpful if you are looking for a summer internship or even an introduction to potential employers.

3. Skip the beach lifeguarding job during college summers and focus on landing an internship in your major. Even unpaid internships, if you can afford it, will give you great experience and make a big difference down the road when you graduate. Many colleges offer grants to pay for summer internships if money is a problem. This will give you the opportunity to see if you thrive working in certain environments and will beef up your resume. Network with your professors, use job boards such as Indeed.com, and contact friends/family to find connections and opportunities.

4. At the end of your summer job, ask for feedback on how you did and for advice on areas where you could improve. Ask your manager if they could be a reference for you in the future. Thank them for opening the door and giving you an opportunity to work in your chosen area. Hopefully you will be able to return the favor to other developing professionals later in your career.