why do so many biotech startups struggle with go-to-market and marketing in general?
@dr_alphalyrae Not just biotech. Tech people in general think that “if we build it, they will come.”
@dr_alphalyrae The answer might be in the word startup. If there isn’t a product just proof of concept then there isn’t much to market other than hype (just a thought).
@dr_alphalyrae Culture from life sciences academia doesn’t train well for that I’d assume?
@dr_alphalyrae Biotech is a completely different beast. Not sure if this is sarcasm, but time-to-market is on a completely different timescale
@dr_alphalyrae I have a bit of experience working with clients in this space. Typically the founding members are all scientist used to working in labs. Generally they have 0 experience thinking about marketing, branding, etc. and grossly undervalue it’s worth.
@dr_alphalyrae They can’t afford to hire a full-time commercial talent until they are too close to market
@dr_alphalyrae (Exceptionally) Long time to market and invariably founded by scientists - not surprised at all.
@dr_alphalyrae My favourite hubris is the belief that creating products generates demand and creates new markets🤪 Unsolved problems = unmet demand that already exists. First person to create a customer please let me know, I’ve only been able to find ones produced naturally…
@dr_alphalyrae They start as a solution. Not a problem people would pay money to fix.