Most scientists I talk to who are building companies approach networking the same way: they treat it as a channel for finding investors. They register for the same industry conferences, connect on LinkedIn, and walk into introductory meetings with one unspoken goal. A check at the end of it.

The instinct is understandable given the stakes. Biotech is expensive, the development timeline is long, and capital determines what’s possible. Narrowing every introduction to a single outcome, though, shortchanges most of what networking is actually good for.

I’m Leen Kawas, Managing General Partner at Propel Bio Partners, a life science venture capital firm backing founders developing breakthrough health innovations. Before moving to the investor side, I led a biopharmaceutical company focused on neurodegenerative disease from its early stages through a 2020 IPO that raised over $400 million. That decade of company-building taught me, more than anything else, that your network determines your ceiling. The reasons go well beyond who might write you a check.

Build the Advisory Board Before You Need One

There’s a version of Leen Kawas who made the mistake of underestimating this early on. The instinct as a scientist-entrepreneur is to assume that strong data will open every door. It helps, but it’s not sufficient. The scientific community is small and densely networked, and a warm introduction from someone who has reviewed your work firsthand carries a weight that a cold email never will. The advisory board sits at the center of that process.

The founders who build the most durable companies tend to have something in common: they started assembling their advisory board before they needed one. Not at the point of crisis, not when a regulatory filing was in trouble or a manufacturing partner fell through, but before any of those problems existed.

A strong scientific advisory board signals something to investors that raw data can’t easily communicate: that credible, experienced people in your space have looked under the hood and decided your work is worth their time. That third-party validation matters. It also gives you something more immediately practical, people who can spot the gaps in your thinking before you’ve spent twelve months and a substantial portion of your runway discovering them yourself.

The best advisors are in high demand. If you wait until you’re in trouble to find them, you’ll compete for their attention against founders who established those relationships during calmer periods. Build when you have momentum.

The Investor Meeting Reframe

Here’s specific advice I give founders who are frustrated by rejections: go into meetings asking for advice before you ask for capital.

This sounds counterintuitive. You’ve prepared a pitch. You have a specific ask. But investors at serious firms have seen hundreds of companies across your space, and the pattern recognition they’ve built through that exposure is genuinely useful to you, even when the answer is no.

According to venture industry research, less than 1% of sourced deals ultimately get funded. The meetings that end without a term sheet don’t have to end without value.

When an investor passes, ask for feedback on what they’d want to see differently. Ask whether there’s someone in their network whose perspective might be useful to you. Investors who respect your work and your approach, even when they’re not writing a check, are often willing to make the introductions that change the trajectory of your company. Those connections sometimes lead to the hire that addressed their concern, or the co-investor who helped close the round six months later.

The most effective founders I’ve worked with hold both orientations simultaneously: deeply committed to their vision, genuinely curious about what others know that they don’t. Treat investors as advisors first and let the relationship develop from there.

What Leen Kawas Looks For in a Founder’s Network

When I’m evaluating a company at Propel Bio Partners, I pay close attention to who founders have built around them. Not just their cap table. Their advisors specifically, and whether those relationships were built deliberately or assembled for appearances. You can usually tell.

Founders who’ve built real advisory networks have done something uncomfortable: they asked for help before they could offer anything in return. They introduced themselves at conferences when they were unknown. They sent notes to researchers they admired and weren’t embarrassed when the response was slow. They turned hard feedback into ongoing relationships rather than closed doors.

Scientists, in my experience, are often less comfortable with this kind of deliberate outreach than people who came up through business. If that’s you, I’d reframe the instinct. You’re not asking for favors. You’re inviting experienced people to engage with work that might actually matter, and when the science is real, that’s a genuinely interesting invitation.

Build the advisory board now. Attend the conference you’ve been postponing. Ask the investor who passed on your last round who else they’d talk to in your position. And when someone can’t help you directly, ask who can.

The answer to that question has opened more doors than almost any pitch I’ve seen.

Leen Kawas is the Managing General Partner at Propel Bio Partners, a life science venture capital firm dedicated to supporting entrepreneurs developing breakthrough health innovations. She previously took a biopharmaceutical company through a successful IPO in 2020 and is a longtime advocate for scientist-entrepreneurs, particularly women in life sciences.

There’s a particular kind of clarity that comes from being the person in the room who clearly doesn’t belong there, at least by someone else’s definition.

I moved to the United States from Jordan in 2008 with a background in pharmacy. I hadn’t grown up inside the American startup ecosystem. I didn’t know the names of the major venture funds, hadn’t attended a pitch competition, and didn’t have a professional network here. My path into biotech entrepreneurship didn’t run through the traditional on-ramps. It came through scientific research and a conviction that promising ideas could become therapies if someone was willing to do the hard work of bridging those two worlds.

That outsider position turned out to be one of the most useful things I’ve brought to everything I’ve done since.

I’m Leen Kawas, co-founder and Managing General Partner of Propel Bio Partners. What fifteen years of building, fundraising, and investing has shown me is that people who haven’t absorbed a field’s assumptions from the inside often see its inefficiencies most clearly. In drug development, where the cost of avoidable mistakes can be catastrophic, that kind of fresh perspective carries real weight.

The Pattern in the Data

The contribution of immigrant founders to American innovation is well-documented at this point.

According to a 2022 analysis by the National Foundation for American Policy, immigrants founded 55% of America’s billion-dollar startup companies (319 of 582). Seventy-eight percent of those companies have at least one immigrant in a senior leadership role.

These numbers aren’t just a demographic footnote. They point to something structural: people who have had to learn how systems work from the outside, rather than inheriting that knowledge, tend to develop a sharper instinct for where those systems are broken and where the conventional playbook is costing more than it delivers.

Drug development accumulates assumptions in layers over decades. There are ways of doing things that persist because no one has asked whether they’re still necessary, or whether a cheaper, faster approach might produce equivalent results. Coming to the field as someone who learned it deliberately rather than absorbed it culturally gave me a different vantage point. I questioned things that people who had spent their entire careers inside the system sometimes didn’t think to question, because those things had always been there.

During my time leading a company focused on neurodegenerative disease, that habit of questioning led toward decisions that ran against the conventional approach: modified trial structures, technology partnerships that were unusual at the time, a relentless search for redundancies worth cutting. Some of those instincts came directly from not having been trained to see the current method as inevitable.

The Funding Gap That Still Exists

Women founders carry their own version of this experience, and the data here is direct.

In 2024, women-fronted biotech companies received $4.3 billion in venture funding, representing 8.5% of overall sector funding. That’s real progress from prior years. It sits against a backdrop, though, where female founders captured roughly 2% of all venture capital over the past decade. Of 102 new biotech companies formed since late 2023, only nine were led by women.

When I took a company public in 2020, I became one of only 22 women founders in the United States to have done so at that time, and the first woman in Washington State to accomplish it in twenty years. The statistic is striking less for what it says about me and more for what it says about the conditions everyone in that same pool had to navigate.

What I’ve found, over and over, is that founders who’ve had to work harder to be heard often build more resilient companies. They come into investor meetings over-prepared. They’ve already pressure-tested their conviction in ways that founders who operate with default credibility sometimes haven’t. They’ve learned to persuade skeptics, find alternative routes when the obvious ones close, and hold a vision together under conditions not designed to support them. Those capabilities are genuine, and they’re hard to acquire any other way.

How This Shapes Who Leen Kawas Backs

When I’m evaluating a company at Propel Bio, one of the questions I carry into every conversation is this: what does this founder understand about their problem that someone who came up inside the system might not?

The answers to that question, when they’re specific and grounded in actual observation rather than outsider mythology, are often the most interesting thing in a pitch. They signal a founder who has thought carefully about their space rather than simply executing the standard playbook.

The companies in Propel Bio’s portfolio were chosen because their science was strong, their mission was clear, and their teams understood something real about the problem they were solving. When I look at what those teams have in common, a recurring pattern emerges: they’ve each had to build something in conditions that didn’t automatically support them.

That experience tends to sharpen certain capabilities. You learn which conventions are actually load-bearing and which ones are just convention. You get more comfortable operating without complete information. You develop a tolerance for being underestimated that most people who’ve always had institutional support never need to build.

What I’d Tell Anyone on an Unconventional Path

If you’re entering this industry, or any industry, from outside the expected profile, resist the impulse to paper over that difference. The instinct to blend in, to speak the language fluently, to reference the right names and mimic the approved style, is understandable. It can feel like the safer option.

Leen Kawas has spent fifteen years on both sides of this story, as someone who built from the outside and now invests across the full range of founders navigating it. The outsider advantage is genuine. It asks something of you, but it gives something back that’s hard to manufacture any other way.

Leen Kawas is the co-founder and Managing General Partner at Propel Bio Partners, a life science venture capital firm dedicated to supporting entrepreneurs developing breakthrough health innovations. She is a longtime advocate for diverse and underrepresented voices in biotechnology, including women in life sciences and scientist-entrepreneurs.

Everyone has a theory about why young people are struggling. Screen time. Social media. Helicopter parenting. Lack of discipline. Too much discipline. The theories multiply, the think pieces accumulate, and meanwhile the numbers keep getting worse.

Between 2009 and 2021, the share of U.S. high school students reporting persistent feelings of sadness or hopelessness jumped from 26% to 44%. Emergency room visits for mental health crises among adolescents surged over 30% during the same window. These aren’t marginal shifts. Something structural is happening.

I’m not a psychologist. I’m a biotech investor and former CEO who spends her professional life assessing human potential — evaluating founders, building teams, and watching people navigate high-pressure environments where the stakes are real and the outcomes uncertain. From that vantage point, I’ve developed a theory of my own. And it has less to do with screens than with something far more fundamental.

We have a skills gap. Not a technical one. An emotional one.

Optimized for the Wrong Things

Consider what a high-achieving young person’s life looks like by the time they reach college. They’ve spent over a decade inside systems designed to sort and rank them. They’ve learned to optimize for grades, test scores, extracurricular credentials, and admissions outcomes. Many of them are extraordinary at performing under structured conditions with clear rubrics and defined rewards.

Now consider what happens when the structure disappears. When there’s no syllabus. When feedback is ambiguous or contradictory. When the path forward requires tolerating uncertainty for months or years without a clear grade at the end.

That transition breaks people — not because they lack intelligence, but because they were never given the tools to manage the emotional complexity of unstructured life. They can solve equations but can’t sit with ambiguity. They can ace an interview but can’t process rejection without spiraling. They’ve been trained to achieve, but not to cope.

I see this pattern constantly in the professional world. Talented early-career people who have every credential imaginable but struggle the moment conditions deviate from what they prepared for. And I don’t think it’s their fault. I think we built the assembly line they came through, and we left critical parts off.

What’s Actually Missing

When I evaluate early-stage companies and their leadership teams, I’m essentially making a bet on how those people will respond when things go wrong — because things will absolutely go wrong. Drug development timelines stretch. Clinical results disappoint. Investors pull back. The question is never whether adversity will arrive. It’s whether the people facing it have the internal resources to respond.

The internal resources I’m talking about aren’t mysterious. They’re identifiable and, critically, they’re teachable. But they’re almost entirely absent from formal education:

Emotional regulation — the ability to experience a strong feeling without being hijacked by it. To feel frustrated, anxious, or defeated and still make a sound decision. This is distinct from suppressing emotion. It’s about developing a relationship with your own internal weather so it doesn’t steer you off course.

Self-advocacy without external validation — knowing what you need, what you believe, and what you’re willing to pursue independent of whether anyone is applauding. The founders who last in biotech aren’t motivated by the next press hit or funding announcement. They’re anchored to a problem they feel compelled to solve. That internal anchor holds when external signals turn negative.

Tolerance for productive discomfort — the capacity to stay engaged with something difficult without immediately seeking relief or escape. This is the muscle that atrophies fastest when every moment is optimized and every problem has a Google-able answer.

These aren’t personality traits you either have or you don’t. They’re competencies. And like any competency, they develop through practice, modeling, and repetition. The problem is that very few environments are deliberately cultivating them in young people.

The Extrinsic Trap

Part of what concerns me is how heavily we’ve leaned on extrinsic motivation systems — and how poorly those systems prepare people for the parts of life where external rewards dry up.

Grades, rankings, trophies, follower counts: these are all external signals telling a young person whether they’re doing well. When those signals are positive, everything feels manageable. When they disappear or turn negative, there’s often nothing underneath to hold the person steady.

Research on motivation consistently shows that people driven primarily by extrinsic rewards are more vulnerable to anxiety, burnout, and disengagement when those rewards are removed. Intrinsic motivation — the kind rooted in personal meaning, curiosity, or values — is far more protective. It correlates with better mental health outcomes, greater persistence, and higher life satisfaction.

This maps directly onto what I observe in the biotech professionals and founders I work with. The ones who burn out fastest are often the ones who were chasing milestones — the next round, the next publication, the next title. The ones who endure are driven by something less visible but more sustaining. A question they need to answer. A patient population they want to serve. A scientific problem that won’t let them go.

I didn’t leave a secure career path to co-found a biotech company because someone offered me a better title. I did it because the opportunity to impact human health felt more important than predictability. That wasn’t a rational calculation. It was a values-driven one. And it carried me through years of uncertainty that would have been unbearable if my motivation had been purely external.

Reframing the Conversation

The youth mental health crisis is real and serious. But I think we spend too much time debating which external factor is most to blame and not enough time asking a different question: what internal capacities are we failing to build?

If we raised kids who could regulate their emotions under pressure, who derived motivation from internal sources rather than external validation, and who understood that discomfort is a feature of meaningful work rather than a sign that something is broken — would we still see the same crisis at the same scale?

I don’t think so.

This isn’t about dismissing the real environmental pressures young people face. It’s about recognizing that resilience isn’t something you’re born with. It’s something you’re equipped with. And right now, we’re sending an entire generation into increasingly complex, ambiguous, high-pressure environments with impressive technical preparation and almost no emotional toolkit.

From where I sit — across the table from brilliant people who sometimes can’t handle being told their idea needs work — the cost of that gap is already visible. The question is whether we’ll address it before the next generation pays an even steeper price.

Co-founding a company is a significant commitment and requires resilience, patience, focus and action. Starting two healthcare biotech-focused businesses, each with a talented partner, has enabled me to channel my passion into real-world results. Although each business has a distinctive focus, I have gained great satisfaction from each company’s achievements.

Not surprisingly, both companies have also occupied much of my mental and emotional bandwidth. Although investors have contributed to each company, I also put my own financial resources on the line.

Looking at the bigger picture, I have essentially been consumed by my desire to make my businesses work to enable me to achieve my personal mission of helping improve human health, providing accessible therapeutics and accelerating drug development. I have joyfully celebrated the highs and endured the lows. When things didn’t go as planned, I convinced myself that disappointments were only obstacles on the path to eventual success.

The Challenge Of Maintaining A Separate Identity

However, carving out a separate identity from my business has been difficult. Every week, I’m engaged in research, planning, and/or project execution. I meet with other stakeholders and maintain regular contact with others in my industry. It’s not an exaggeration to say that I spend almost every waking hour working to move my company forward.

But while my business is thriving, my personal life and relationships haven’t always received the attention they deserve.

Merging A Personal Identity With A Business Persona

Objectively speaking, channeling all of your resources into your company makes sense. However, leaders who are genuine with their connections at work are at a higher risk of merging their personal identity with their business.

The Advantage Of One Unified Persona

There is one major advantage of combining your personal identity with your business persona: increased focus and emotional investment.

The Disadvantages Of One Unified Persona

There are also downsides, including strain on physical well-being, personal relationships, and difficulty transitioning between companies.

How To Cultivate A Healthy Personal Identity

Maintaining boundaries takes effort. Be selective, delegate, surround yourself with experts, schedule work-free time, and intentionally invest in relationships.

Final Thoughts

While founding a company requires deep commitment, balance is possible with awareness and deliberate action.

Women working in predominantly male industries, including technology disciplines, must navigate a distinctive set of challenges. Despite their qualifications and focus on goal achievement, these female professionals often face setbacks that male colleagues don’t experience. In my industry, I see this dynamic in companies of every size and business stage. Fortunately, approaching these setbacks with resilience and adaptability can help turn the situation around.

Defining Female Professionals’ Challenges

Identifying a problem is the first step to resolving it. In male-dominated industries, qualified female professionals may not receive equal consideration for project management and other job-related opportunities. In addition, they may not receive recognition for their workplace accomplishments.

Female professionals may also encounter two obstacles that inhibit their career growth and potential move into leadership roles. First, gender bias—whether intentional or not—can preclude women from learning about networking opportunities that open the door to higher-level positions.

More specifically, well-qualified women often do not receive serious, objective consideration for career-enhancing opportunities. Unfortunately, these are not isolated cases. Not surprisingly, any one of these issues can cause a talented woman to become discouraged and even question her career choice. However, there is a bright light at the end of the tunnel.

How Setbacks Can Fuel Innovation and Growth

When handled constructively, each setback can serve as a springboard for personal and professional growth. Put another way, each adverse situation can become an opportunity to demonstrate true resilience.

Reframing Failure

Reframing failure is the first step toward growth. Historically, failure has been regarded as the worst possible outcome. However, failure is often only a temporary step backward—and an excellent learning opportunity. Each failure offers a chance to determine what didn’t go as planned.

Identifying lessons learned and areas for improvement naturally follows. Through reflection, creativity and vision can reemerge, often leading to innovative, out-of-the-box solutions.

Failure also offers significant character-building benefits. When a workplace project does not achieve the expected result, professionals are encouraged to take an objective look at their strengths, weaknesses, and limitations. By learning what drives them, individuals may feel more confident taking calculated risks and moving forward.

Adopting a Growth Perspective

Successful leaders embrace a growth mindset—the belief that hard work and dedication can, over time, lead to the development of expertise and capability. Setbacks are not viewed as failures but as opportunities to improve and excel. This mindset encourages perseverance, creativity, and thoughtful risk-taking in pursuit of well-defined goals.

How to Cultivate Resilience

A resilient attitude and workplace culture help maintain a positive mindset and support long-term career success. Increasing activities that reinforce resilience—such as finding humor in frustrating situations, reframing negative outcomes, and establishing positive routines—can be highly effective.

Adopting multiple resilient behaviors can improve job satisfaction and foster a stronger sense of inclusion. When challenges arise, resilient women are better equipped to respond constructively and are less likely to seek opportunities elsewhere.

Navigating Obstacles

Female professionals at all career levels—particularly those aspiring to leadership roles—often encounter roadblocks that threaten progress. While some obstacles are minor, others require creativity, persistence, and collaboration to overcome.

Understanding that gender bias, whether conscious or unconscious, has real consequences is essential. Rather than ignoring the issue, women are encouraged to speak openly about their experiences and advocate for increased female representation in leadership roles.

Ongoing skills enhancement is also critical. Staying informed about industry trends, attending conferences, and pursuing continuing education strengthens professional influence. Building a strong personal brand and showcasing achievements further supports career advancement.

Finding Effective Mentorship

Mentorship can be a powerful catalyst for growth. Guidance from an accomplished woman in the same industry can help minimize obstacles and open new doors. For mentorship to succeed, both participants must be equally committed.

Networking plays a vital role in building meaningful professional relationships and fostering collaboration. Industry conferences, in particular, offer valuable opportunities to learn about emerging trends, connect with leaders, and participate in skill-building workshops.

Closing Thoughts

Organizations also have a responsibility to create more equitable workplaces. Reevaluating job responsibilities objectively, emphasizing positive communication, and fostering inclusive events and celebrations all contribute to a culture where every employee can thrive.

When resilience is supported at both the individual and organizational level, women are better positioned to transform setbacks into strengths—and to lead lasting, positive change.

Effective workplace collaboration brings team members’ individual talents and diverse perspectives together. Focused on a mutual goal, they brainstorm ideas that can spark creative innovations. This true synergy can serve as a foundation for future breakthroughs.

However, the collaborative process isn’t always smooth sailing. Team members sometimes engage in heated disagreements that threaten to derail progress on a common goal. Many people view these confrontations as distracting and counterproductive. In my view, however, they can help an organization more effectively achieve key objectives.

Desirable Healthy Workplace Conflict

Some types of workplace conflict are quite healthy. For example, holding regular debates on preset topics encourages a free flow of ideas. Participants engage in lively discussion (and even disagreement) backed up by proven facts. When team members consistently flex their intellectual muscles, they become better equipped for big-picture thinking and creative problem-solving.

Fostering improved team collaboration is a true win-win. For example, if a large group is tasked with solving a complex problem, dividing the group into smaller teams and incentivizing each to be the first to produce a solution benefits everyone:

• The company moves forward on its goals.

• The winning team improves its problem-solving skills and applies its aggregate knowledge to future challenges.

Conflicts create opportunities to realign the team and incorporate valuable ideas. Leaders who embrace this help team members feel heard and more committed to the organization’s mission.

How Teams and Companies Benefit from Conflict

Companies that embrace conflict can realize multiple benefits. Encouraging team members to bring any topic to the table—especially those that spark strong opinions—can lead to meaningful progress.

Heightened Creative Mindset

Heated conflict often sparks creativity. When opposing parties take time to understand each other’s perspectives, they gain clarity on an optimal path forward. Creativity thrives in environments built on mutual respect, where team members feel comfortable sharing unconventional ideas.

Improved Problem-Solving Skills

Complex problems often lack obvious solutions. Constructive conflict enables team members to view disagreements as problem-solving opportunities. When unconventional ideas are welcomed, teams are more likely to uncover viable solutions.

Enhanced Leadership Capabilities

Productive workplace conflict can sharpen leadership skills. Employees who develop conflict management abilities also build emotional intelligence and demonstrate commitment to the organization. Such growth often signals leadership potential.

Navigating Through Workplace Conflicts

Disagreements are inevitable among team members dedicated to company growth. Showing respect and honesty—even during heated discussions—keeps the focus on resolving the core issues.

A useful mindset: “Don’t turn away from conflict. Use it to build the relationship, as long as there’s respect and a shared goal. The aim isn’t to win an argument—it’s to get to the right answer.”

A practical technique involves slowing down discussions and writing out each side’s points. This often reveals that both parties are closer in viewpoint than they initially realized.

Avoiding Conflict Isn’t the Answer

Many people feel uncomfortable with conflict and resort to avoidance tactics such as excessive meetings, presentations, and email threads. Although these activities may appear productive, they often waste time and delay important decisions.

Productive conflict—grounded in shared goals and objective evaluation—moves projects forward. Once common ground is found, teams can finalize solutions and develop actionable plans.

In today’s complex, fast-paced world, the announcement of a pregnancy often generates old-fashioned joy and excitement. However, couples and individuals struggling with infertility might experience a mix of emotions.

In the U.S., about one in five women has difficulty conceiving a child after a year, according to the Centers for Disease Control and Prevention. “Infertility” is defined as the inability to conceive following one year of trying, the CDC said. For women over 35, they may be treated for infertility after six months of trying.

Through my work as a board director for a biosciences company that provides a product focused on male infertility, I’ve learned a lot about the challenges couples can face throughout their fertility journey. As a leader, I’ve also had employees come to me directly to share what they’re going through. These experiences have shown me how fertility challenges can affect someone both at home and at work, and I’ve also learned a few valuable lessons on how leaders can better support employees navigating infertility.

How Infertility Can Impact People Personally And Professionally

The fertility journey can be an emotional roller-coaster. Couples may repeatedly be hopeful only to be faced with disappointing news. This can cause increased strain on their relationship, which might manifest itself in multiple ways. One study of women who underwent fertility evaluation but did not have a child found that, after 12 years, almost 27% of participants no longer lived with the same person they began treatments with.

Furthermore, any major undertaking involves considerable expense, and the fertility journey is no exception. Fertility clinic visits could incur costly travel, for example, which could result in lost work time and negatively affect one’s income. Also, fertility testing and treatments are not always covered by insurance. Taken together, fertility testing and treatment can create a major strain on someone’s budget.

At work, people who experience fertility challenges (and often subsequent treatments) might be concerned they’ll see negative impacts in their workplaces. Many women, for example, don’t tell their employers about an ongoing issue, fearing potential career damage from this revelation.

There’s also the sheer task of managing fertility appointments and one’s workload. People undergoing treatments might need to take considerable time away from work, and some treatments also require a period of recovery. The procedures’ uncertain outcomes can also be a source of stress.

Employees engaged in a fertility journey might find it difficult to concentrate on workplace responsibilities. Some employers might view this behavior as proof that the worker lacks commitment to their job.

Many people make lifestyle changes when undergoing fertility treatments. To illustrate, some women turn down challenging projects, reduce their workloads or decline to pursue promotional opportunities.

Advancements In Infertility Research

Fortunately, I believe couples and individuals facing fertility challenges can benefit from some positive developments. In January, women’s infertility was the “women’s health indication leading the clinical trial count” that month, according to an analysis of data from GlobalData’s Trials Intelligence platform. This encouraging result follows a notable 2023, which included the most female infertility clinical trials since 2019. If clinical trials continue at this pace, 2024 could exceed pre-pandemic clinical trial numbers, the analysis also said.

How Employers Can Support The Fertility Journey

Despite the above positive development, it doesn’t compensate for the unequal access to fertility care in the U.S. Again, fertility treatments are known to be expensive, and private insurers often do not cover these procedures.

A Harvard Business Review article outlined strategies for employers who want to support an employee’s fertility journey. The article points out that fertility-friendly policies and benefits—such as financial support, access to counseling and flexible work and career-planning options—can help provide couples with peace of mind. From my perspective, it is particularly important to include fertility coverage for both male and female fertility diagnostics and procedures. Men are commonly overlooked, despite male infertility being a factor in “at least one-third of cases.”

HBR’s article also recommends providing managers with guidance on how to better work with employees experiencing physical and scheduling impacts. I believe this workplace guidance, supplemented by social and perhaps professional support, could enable couples to more easily navigate their fertility journeys.

To further support workers, employers and companies should ensure they’re listening to the unique needs of each individual with an open mind and perspective. Make yourself truly available for open dialogue and planning. Provide educational resources with equal emphasis on parenting toward all employees. Create a safe environment for employees to share what they are going through if they want to.

I think leaders who show and are receptive to vulnerability create a more collaborative environment and open-door culture. In my own experiences, women have directly come to me for advice and assistance navigating their fertility journeys over my male counterparts. When asked why they chose to come to me, many felt as though I’d be more understanding, knowledgeable and supportive in this space.

By proactively arming all managers, executives and leaders with tools to support workers navigating fertility, we can bridge gaps and create a professional environment where all leaders are compassionate and aware of how fertility can impact the workplace, and all employees are empowered to have an open dialogue.

In today’s technology-driven business world, innovation is the engine that drives new products, services and applications. In the biotechnology industry role, I see diverse types of innovation on a daily basis. Each breakthrough springs from an integration of factors that spur bold thinking and bring exciting discoveries.

Scott Noppe-Brandon, author of Imagination First: Unlocking the Power of Possibility, explained that innovation is the end point of a three-part continuum, known as the imagination-creativity-innovation (ICI) continuum. Imagination carves out a place to discover possibilities, and creativity soon emerges and sparks remarkable innovation.

Workplace culture is a key contributor to innovation. A culture that encourages the free flow of ideas and invites a connection to an organization’s vision and mission offers vast opportunities for creativity and innovation. This applies to companies in virtually every industry.

Six Factors That Foster Creativity And Innovation

Six factors help drive this collaborative workplace. Each works in concert with others to create space for creativity and innovation. However, workplaces are constantly evolving. When new variables unfold, the team leader must fine-tune their strategies.

1. An Atmosphere Conducive To Innovation

I believe that team members collectively possess an overflowing font of creativity. Team members who share a common goal typically have multiple opportunities to engage with each other. Sharing ideas and passing along knowledge to fellow team members may help spark new ways of solving problems and brainstorming new product offerings. This creates the perfect environment for innovation.

In this high-trust environment, leaders invite the exchange of ideas on diverse topics. Forward-thinking leaders develop an effective method of cultivating (and recording) team members’ ideas, and the hierarchy between leaders and team members fades into the background. When leaders listen to team members’ proposals and suggestions, innovation will be a natural outcome.

2. A Favorable Attitude Toward Risk

In any industry, significant breakthroughs require an element of risk. In my career, every drug discovery, scientific advancement or any new startup has involved risk. Over the years, I have become well acquainted with learning curves and “thoughtful pivots.” Stated another way, things rarely turn out as planned.Risk-taking is also prevalent in high-trust workplace cultures geared toward innovation. Structured tests and prototypes play key roles in every discovery. But failures—even those that derail an entire project—are also exceedingly common. By regarding failures as learning experiences rather than setbacks, the team can keep moving forward and grow.

3. A Love For Learning

Team members who bring a natural curiosity to their jobs should be given plenty of opportunities to learn. Maybe they learn by doing, likely making mistakes before they discover a better or more efficient way of reaching a goal. Perhaps they thrive on self-paced online courses or education events that provide a working knowledge of a new technology or discipline. Or certain team members may be better suited to working with an inspiring mentor.

Regardless of the individual’s path, leaders should take the “interactive-hands off” approach, where they stay involved in the details yet empower the team to lead with their ideas.

4. Engagement And Participation

Getting (and keeping) team members focused on innovation can be tricky. They can become sidetracked with other projects or drift off on counterproductive tangents. It’s important to promote productive innovation that guides the company and the team toward its goals to help achieve the ultimate mission and vision for the organization.

The very nature of innovation dictates that the company rejects the status quo. Leaders and team members should seek new ways of solving problems and conquering challenges. This may call for an integration of varied approaches and techniques—all geared toward accomplishing the goal.

During team meetings, extroverts naturally step up with comments and/or ideas. To give the entire group a chance to contribute, the team leader should ask everyone to share their thoughts on preset topics. Speakers should have an opportunity to present their point(s) without interruption. Also, making an effort to meet with different team members at every level is critical for leaders to steer their organization effectively.

5. Speed And Forward Momentum

Biotechnology is a fast-paced industry that thrives on innovation. For perspective, I often see multiple companies working on a single problem. Therefore, it’s crucial to arrive at a solution before the competition does.

Teams must move quickly while remaining agile enough to change course if needed. Cross- functional collaboration is also much more efficient than a time-wasting functional hand-off.6. A Dynamic, Dedicated Team

A leader cannot bring their vision to the world on their own. A talented, committed team makes all the difference. I always look for team members with an innate curiosity. I believe candidates without a specific skillset but with a “can-do” spirit can be uniquely valuable additions.

Team members working closely together have ongoing opportunities to uplift each other. Maybe a team member needs support while executing a challenging task or navigating a personal issue. A forward-thinking leader will offer support, creating a stronger bond within the team.

Next, a “lean” methodology offers every team member the opportunity to make an equal contribution. With minimal organizational hierarchy, the team is completely free to brainstorm ideas and solve problems. The lean model also emphasizes continuous improvement, guided by feedback from the leader and fellow team members.

Surprisingly, positive competition helps build a stronger team. A friendly competition based on mutually important goals is ideal. Clear, realistic objectives and valued incentives will combine to hold participants’ interest. This high-energy, competitive mindset often translates into higher productivity and sparks innovation.

In 2020, I became the first female CEO in 20 years to take a technology and biotech company public in Washington State. But as a woman and a first-generation American immigrant from Jordan in a traditionally male-dominated industry, the odds had seemed stacked against me. Years ago, being “different” from the majority of leaders in prominent positions of authority was a daunting thing. Many doors remained closed to me and I had to persevere.

Based on my own experiences, I have always supported inclusion and diversity not only in the workplace, but in leadership positions and the C-Suite. Today, I manage a global equity investment firm and as we search for companies and candidates for investment, I gain more expertise in the power of management diversity and how that can impact companies—from inception to IPO and beyond.

While corporate inclusion and diversity have been highlighted as an important part of overall company culture and values, management diversity has also been shown to positively impact performance. Through the lenses of diverse managerial and leadership staff, businesses can benefit from perspectives, skills and strategies that drive success, inspire others and highlight a collaborative culture.

The Importance Of Reflecting Your Workforce

Having the entire breadth of workers within an organization represented by those at the top is not only inspirational but important. Managers and leaders who reflect the diversity of the entire organization can help to bring out the best in their colleagues and support recruiting the best talent.

In addition to being representative of the myriad of employees within the organization, diverse leaders can also develop a positive, trusting and professional rapport with other members of the organization and external collaborators and partners. Building a bridge between employees and leaders in this trusting and supportive manner allows for increased transparency, accountability and goal achievement.

Why Different Viewpoints Are Positive

Diverse leaders often have diverse viewpoints, opinions, experiences and ways of achieving goals. This can be a huge asset to a company, allowing leaders to solve problems and reach goals from new angles and perspectives. If everyone had the same ideas and ways of doing things, the organization can become stagnant and miss opportunities that come with different experiences and perspectives. Gender, ethnicity, location and just pure diversity in experiences can be critical for a successful organization, especially if it looks to deliver products or services to a diverse customer base.

Impacting Corporate Culture

Company leaders often shape core values, mission statements and the overall atmosphere of a corporation. Thus, a diverse leadership team ensures that there is not only an intrinsic acceptance of employees from a myriad of lifestyles and backgrounds, but encourages a positive rapport with employees and partners alike.

Leaders within diverse organizations are well-positioned to work alongside many different types of third-party organizations, employees and investors. As globalization continues to allow for trans-continental collaboration on a professional level, the ability to effectively communicate with individuals from varying backgrounds, lifestyles and opinions is key to professional growth and company success.

How To Be An Inclusive Leader

An inclusive leader is key to upholding a company’s commitment to diversity and inclusion. To accomplish this feat, you should continue to acknowledge that each employee’s unique perspectives, backgrounds and experiences lend authentic and distinctive talents to the overall team and the company at large. Thus, you should encourage collaboration between diverse teams to build rapport, problem-solve in creative ways and encourage thoughtful communication.

As diverse teams accomplish positive outcomes as a result of working together, these feats work to enhance their happiness and their long-term trust and belief in the collaborative and diverse spirit of the company.

Consider that differences within the workplace are often assets. To be an inclusive leader, proactively ensure that you are considering ways in which diverse parties can work together to build bridges while accomplishing goals to maximize corporate outcomes.

It’s common knowledge that life science companies are higher-risk ventures and typically take a long time to get to a point where they can see profits or any sign of revenue. It’s an industry that requires specialized talent and sometimes significant infrastructure.

As such, leaders in this industry need to use strategies that can reduce costs and provide access to top talent who can help increase the quality of the work and the probability of succeeding. I have repeatedly seen where life science companies follow a traditional corporate chart and start hiring people with the hope that the gaps will be filled. Other companies take a more radical approach and outsource everything.

These models could potentially work, but are they the most efficient? Do they lead to the highest quality results? Will they provide the best possible outcome to all stakeholders? What is the infrastructure required to bring the function in-house? What equipment, software and hardware are needed?

Companies that stand out are the ones that have leaders who take the time to ask these questions; learn processes, workflows and tasks; set organizational goals; and leverage technologies to advance their products efficiently and cost-effectively. They outsource strategically. They build organizational structures that are adaptable and can withstand an environment where funding can be hard to access.

Outsourcing can help companies be more dynamic when it comes to the continuously changing nature of business and the shifting demands of an evolving industry. However, it’s important to outsource wisely and ensure you’re prepared. Here are some strategies that can help you successfully build an organizational network if you’re considering outsourcing:

1. Understand workflows, key functions, stakeholder needs, budgets, timelines and goals.

Leaders need to understand these details to communicate effectively with their teams and make decisions that empower their organization. When managers have a clear understanding of stakeholder needs, timelines and goals, they’re better equipped to identify the right outsourced talent and affect change in the company.

Why is this important when you’re making outsourcing decisions? These factors will help you determine the key functions that need to remain in-house, which are typically the ones that have the most significant influence on quality, timelines and budgets.

Understanding stakeholder needs, timelines and goals can also help you decide whether you should go with a full-service organization or target specialized groups that can handle parts of the workflow. I’ve found that full-service providers can be good options for smaller teams or really large companies. Smaller teams might not have the resources to hire people internally to manage, so they might start with a full-service provider to minimize project management demand internally. Larger organizations can also be successful with a full-service provider model because they typically take over a whole unit and become a true extension of the company.

However, working with specialized boutique organizations also has benefits. These organizations typically include working with highly experienced individuals who are entrepreneurs just like you. This helps establish a structure that creates accountability between internal and external groups. They also often provide a sponsor and transparency, and companies might find this option more cost-efficient as well. Boutique companies can also give you the flexibility to put some functions on hold if there’s a need to save resources or slow down to make a strategic decision.

Leaders need to ask themselves which outsourcing model is the best fit for their corporate structure and stage. Determine if the goal of the collaboration is a top priority for the organization. In other words, do you need to have more transparency and access, or is it a project that can be managed with a more hands-off approach? Consider the resources your company has as well.

2. Build a dynamic responsibility matrix and clear communication and escalation plans.

Outsourcing goes beyond initial logistics and financial factors; significant planning needs to be applied before outsourcing can be leveraged effectively. Before outsourcing a particular function, a company needs a clear understanding of exactly what needs to be outsourced. As you select your vendors or contractors, create a responsibility matrix and sync it with everyone involved. This will ensure alignment, eliminate any future confusion and save you from hidden or surprise costs coming from a lack of understanding of the responsibilities you’re outsourcing.

This should be done before any contracts are signed. Once the contract is signed, clear communication and workflow plans are vital. Challenges will arise, and you need a guide on how to manage them. Your workflow should be proactive, not reactive. To ensure this, create critical escalation plans so any issues can be identified and addressed quickly and efficiently. It’s essential that you have an internal project manager or point person who manages budgets, timelines and stakeholders—and who can escalate and resolve any challenges the team might face.

3. Take the time to know external partners before committing to the relationship.

External partners are an extension of your team. Make sure you interview the members who will be involved in your projects and spend time with them. They need to understand your mission and vision. They need to feel that they are seen and valued. You also need to make sure they’re a cultural fit. Putting two teams together that follow different beats on a dance floor will lead to a challenging performance. Most importantly, if something isn’t working, everyone should be functioning as one team to figure out a solution and not fall into the trap of shifting blame.

Outsourcing is a tool that can empower organizations, especially when there’s uncertainty around the economic outlook. Creating a flow for how to select and establish a relationship with a vendor will not only support a single project but also help with a dynamic framework for outsourcing. Roles shouldn’t be outsourced simply to save money. This approach will ultimately backfire, especially in instances where in-house talent would be better suited for a position or task. Takes steps to enable seamless collaboration and value every team member, regardless of whether they’re on your payroll.

This is a transcript of Dr. Leen Kawas’s appearance on Enterprise Radio, where she discusses her journey from scientist to entrepreneur and her current work as Managing General Partner of Propel Bio Partners.

Eric Dye (Host): This is Eric Dye and welcome to Enterprise Radio, a part of the Enterprise Podcast Network. Today we’re speaking with Leen Kawas, Managing General Partner of Propel Bio Partners, a life science venture capital firm dedicated to supporting entrepreneurs developing breakthrough health innovations. Leen, thank you for joining us here today.

Leen Kawas: Thank you, Eric, for having me.

From Science to Entrepreneurship

Eric: The pleasure is certainly ours. So for starters, Leen, you’ve been both a scientist and an entrepreneur. What lessons from your journey can help founders in any industry translate innovation into a successful business?

Dr. Kawas: Thank you, Eric. So I actually started my career as a pharmacist, where I felt that I needed to do more work that potentially translates into impacting people’s lives. I moved into research and science, and ultimately I really realized that to enable your ideas to impact people’s lives, you really need a business around it. And this is when I moved into the entrepreneurial business side of things, which I really enjoyed.

I would tell any person who’s considering transforming their ideas, whether it’s science-based or something else, to make sure that they’re taking the leap and being fully committed to the company or startup that they’re working on. Trying to do multiple things is really hard.

The other very important point is that it’s an up and down journey. There’s going to be a lot of highs, but way more lows when you’re working on a business. One of the best pieces of advice I had at the early stages of my career was: if you’re able to survive the lows, you’re going to be very successful. And know what you don’t know and hire and build your team accordingly. You can’t do everything on your own.

Rethinking Biotech’s Capital Intensity

Eric: Biotech is known for being high risk and capital intensive. What strategies do you recommend entrepreneurs use to secure the right investors and partnerships?

Dr. Kawas: I think that’s the general reputation of biotech - that it is high risk and capital intensive. But I think there’s a shift, especially from the capital intensive aspects. If you’re an entrepreneur and it’s your first company, use your fresh outlook on things. There are a lot of redundancies in our industry.

There are ways of doing things that people are used to doing which, most of the time, are expensive and capital intensive. We have technology that is enabling us right now - AI, and not necessarily AI to use for clinical development or innovative work, but it can make a lot of the workflows that we have more efficient.

I’ve been successful in my many ventures, including companies that we’re currently helping, by thinking outside of the box and developing programs in a way that is cost efficient but at the highest quality that you would anticipate for drug development. If there was something that worked effectively and efficiently, don’t change it, but there are a lot of redundancies and inefficiencies in the way that we currently do things in drug development. This is an opportunity where young talent and new entrepreneurs can take advantage of and really optimize the workflow.

Beyond Funding: Creating Value Through Networks

Eric: Propel Bio Partners emphasizes supporting entrepreneurs beyond funding. What practical ways can business leaders create more value for their teams and stakeholders?

Dr. Kawas: I think networking is key. One thing about scientists - if a scientist is willing to take the leap and start a company, whether they want to be the CEO or have another role in the company - one big component in a successful business is networking and meeting people.

And it’s not just for finding investors. There’s this misconception that you need to really focus on networking with investors with the sole goal of raising capital. But you network to expand your team, to find specialized talent that can help you with the next, more complex steps of your business.

Building an advisory board very early on is very important. And ultimately, when you’re talking to investors, remember that investors have the luxury of being exposed to so many ideas and companies. So they build experience by proxy, and they have a very healthy network.

So if you’re talking to investors and you’re hoping to get a check at the end of the day, but you are not successful in convincing them to invest in your company, make sure that you ask them for advice. I would even go and talk to investors with the mindset of asking for advice first, with the ultimate potential of convincing them to invest in your business.

I would really tell scientist entrepreneurs: if you’re not comfortable with being an extrovert, you have to make yourself a self-made extrovert - finding the appropriate venues, conferences, places where you can meet people. And at the minimum, if you meet someone who themselves were not able to help, ask for an intro to someone that might be helpful.

Balancing Scientific Rigor with Business Speed

Eric: How do you balance scientific rigor with entrepreneurial speed, and what can leaders in other sectors learn from that balance?

Dr. Kawas: That’s a great point, Eric, that I think a lot of entrepreneurs in our industry struggle with. Because there are specific steps that need to be taken to ensure that you are bringing a therapy to patients at the highest quality possible in a safe and effective way.

On the other hand, you’re being pushed by the business to really advance your technology in the most efficient way possible. I would really advise entrepreneurs to look at the long term and find investors that understand the complexity of our technology and the timeframe of our industry.

Because it’s not going to be a straightforward journey. Being communicative to your investors, communicative to your team, communicative to the stakeholders that are involved is very important, because it’s not a straightforward journey.

But at the same time, balancing it with the other point that I’ve discussed earlier - finding ways to remove the inefficiencies in our process is a great way to accelerate our development path. I think finding the right partners, communicating effectively about the challenges and the timelines, and ultimately taking advantage of places where we can advance products in a more efficient way - there are plenty of opportunities there.

The Power of Diverse Teams

Eric: You’ve mentored many emerging entrepreneurs, especially women in biotech. What advice would you give to business leaders who want to build more diverse and resilient organizations?

Dr. Kawas: I’ve seen it personally as I’m building companies and through our portfolio companies - the more diverse management teams, the more efficient and effective they are.

There are studies - it’s not just me, there’s a Harvard Business Review that basically showed that companies that are led by women usually have larger returns to their investors. And I would have to say, as we interact with companies that have more diverse management teams, just because it’s harder for them to raise capital, potentially they are more prepared. Not all of the time, I have to say, but they’re more prepared. They have to do more to ultimately convince an investor to write a check.

But also, the experiences that a female leader will bring will be different than the experiences that a male leader will bring to a management team. And if we think about equity from gender, male or female, or ethnic backgrounds, even the diversity in business experience brings significant wealth to the company.

I would say, try to hire the best talent, but be intentional in providing diversity in your team at multiple layers, especially around talent. Because in the future, where we have AI that is going to take a lot of the tasks that we currently use different people to run for us, the future for companies to be successful will be companies that bring different points of view, different experiences to their clients. And I think having a diverse team will bring the biggest exposure to these different points of view and experiences to enhance the outcome of your business.

A Vision for the Future

Eric: Before you go, any closing thoughts, takeaways, tips, or anything else you’d like to share?

Dr. Kawas: I would say that I’m originally from Jordan. I came to the US and I have to say that there’s something amazing about this country, which is entrepreneurship and innovation. I hope we can all focus on continuing to build our country.

And biotech is an amazing place where we have direct impact on humans here in the US but also globally. I’m very excited about the future, especially in our industry. And I hope more people can see the special aspects of our country and continue to build it toward a brighter future.

Eric: I couldn’t think of a better way to conclude our session here today. Where can listeners get more information on Propel Bio Partners online?

Dr. Kawas: You can reach out on LinkedIn - my LinkedIn is Leen Kawas - and you’ll see Propel Bio on my profile. I’m always looking forward to connecting with people who are interested in technology, interested in building, and interested in changing the world.

Eric: Again, we have been speaking with Dr. Leen Kawas, Managing General Partner of Propel Bio Partners, a life science venture capital firm dedicated to supporting entrepreneurs developing breakthrough health innovations. For all the details, visit propelbio.com.

This interview originally aired on Enterprise Radio, part of the Enterprise Podcast Network.

In today’s technology-driven business landscape, each company’s breakthroughs and advancements can help to uplift the entire industry’s profile.

As a biotechnology entrepreneur, I often receive valuable (and actionable) insights from fellow biotech industry executives. It frequently helps to develop my strategic decisions, and it positions my company for further growth. In fact, those who offer the insights are regarded as industry leaders. Generously sharing their knowledge with others further enhances their personal and professional credibility.

Fortunately, entrepreneurs and executives in any industry can take the lead in this dynamic information exchange. It’s the essence of “thought leadership,” a practice in which a recognized industry expert delivers insights that enrich their audience in multiple ways.

Profile Of A Thought Leader

A thought leader knows their industry or area of expertise inside out. They typically combine intensive technical knowledge and on-the-job experience. Over the years (and often over decades), they have typically managed increasingly challenging projects, spoken at multiple events and gradually emerged as an industry luminary. Most importantly, they stay relevant and informed.

This in-depth knowledge enables them to predict trends that aren’t even on others’ radars. In other cases, the thought leader may offer an innovative solution to a common industry problem. By taking time to research the issue and identify a viable option, they are helping to further the entire industry’s knowledge base.

And how do thought leaders determine their audience’s needs and pain points? First, they regularly engage with others in the industry. They also monitor industry and technology trends, attend conferences and read professional journals and other publications. They stay up to date and engaged.

How A Thought Leader Provides Value

Most thought leaders aim not to become a thought leader but actually to have an impact. They tune out the noise around them and focus on what will provide significant value to society. Equally as important, a thought leader delivers actionable information to help drive other businesses toward success.

Thought leaders have a natural curiosity about their industry and the world around them. They can predict industry trends and technological breakthroughs. They have the vision and drive to identify current and future applications for these advancements.

I also can’t overstate the importance of honesty, authenticity and emotional intelligence. These personal attributes enable a thought leader to engage in sincere, mutually beneficial “meetings of the minds” with other leaders. In a management role, a thought leader respects all team members’ contributions while motivating them to achieve a notable common goal.

Most importantly, a thought leader must take their ego out of the equation. They use their proven skills and talents to help others succeed—not to promote their agenda. And, of course, they listen. They constantly keep a pulse on the industry, and they have an uncanny ability to bring relevant issues and trends to the forefront.

Becoming A Thought Leader

To become an expert in any field, it takes years of study and hands-on experience. Becoming a respected thought leader requires two additional attributes: recognized leadership skills and the ability to inspire and motivate others in the industry.

To begin the journey, an aspiring thought leader should establish an area of expertise in their industry. They should resist the impulse to become a font of knowledge on virtually every related topic. Instead, they should delve deeply into a key area, becoming the “go to” authority for that discipline or technology.

Looking at the bigger picture, each industry continues to evolve, albeit at differing rates. Astute thought leaders learn about their industry’s makeup along with factors that could cause positive or negative impacts to their industry.

Examples may include economic trends, shifting product or service demand, and a changing competitive landscape. A thought leader often applies this knowledge to resolve existing or emerging industry challenges.

Finally, a thought leader should be willing to embrace knowledge from others in the industry.

Putting The Plan Into Action

Cultivating (and maintaining) a thought leadership presence requires sustained effort on multiple fronts. To begin, the thought leader should educate themselves on industry trends and relevant issues. Identifying the right audience and sharing game-changing ideas with them are also key plan components.

Next, a thought leader typically maintains a highly visible industry presence. At key conferences, they participate in networking sessions and panels. While meeting with other industry leaders, they brainstorm ideas that could lead to new business agreements. When opportunities arise, they freely share their expertise with others who may benefit. Publishing articles, blog posts or videos and presenting at webinars and conferences or workshops are other good options.

Finally, thought leaders are integral parts of their communities. They frequently participate in charity events and sponsor worthy initiatives. They may also collaborate with other business and community leaders, seeking to uplift the quality of life for everyone involved.

Hybrid work, especially what I am witnessing within biotech and biopharma, is helping bring opportunities to the companies that endorse it. Whether it's the post-Covid arrival of the blended workplace, the emergence of the remote workplace as distant from the office or the growing access to decentralized talent, there's been a dramatic and growing importance on where we work.

But unlike the pandemic-required remote work for some industries, it was essential for some positions in the life science industry to continue to be in-person or to move into a hybrid work style. Here is how I believe leaders can find balance in creating a hybrid work environment, particularly for tricky industries such as biotech.

Pros And Cons Of Hybrid Work

Some people are more comfortable working from home. They want to avoid the commute and enjoy the flexibility of balancing personal and professional tasks.

Others find importance and long-lasting value in face-to-face time and hallway conversations and appreciate the separation between work and personal life, and really, the soft skills that you can gain from being in an office.

I believe that because many Zoomers started their careers remotely, they really can't appreciate the personal and career development that happens when they are present in person. While there are obvious benefits for individuals working from home, there are certainly missed opportunities not being there in person, at least for part of the time.

Hybrid work allows for things like periodic in-person meetings that I believe can more effectively help companies get a comprehensive view of all the teams that are working on the same program. This can help build a collaborative and cohesive work environment and reinforce the sense of ownership and accomplishment for the work being done.

When it comes to in-person meetings, though, make sure to design events in an authentic way that is purposeful and helps build strong relations.

Confronting Challenges In Remote And Hybrid Work

Some companies are requiring workers to return to the office full-time. For example, in February, Amazon announced it was asking all employees back in May for at least three days per week.

For the biotech industry, there is a need to be in person. In fact, a good number of scientists, physicians and clinical operations teams have continued to work in person, fully or partially, throughout the pandemic.

Until decentralized clinical trials can become valid alternatives, operational teams that work in clinical sites will need to continue showing up in person. The same goes for many manufacturing and supply chain positions.

One way an employer can be more flexible, though, is to allow a work-from-home option when scientists do not have experimentation and are simply working on reports or analyses. It is important for leaders to find ways to create a balanced environment between all teams in their organization and to be intentional in creating these connections between their multidisciplinary teams.

Overall, while working in person can be important or even essential, creating flexible work hours can help workers who need to balance their personal and professional commitments or just want to avoid traffic in their daily commute. Make sure as a leader that you are listening to the pulse of your organization and adapting and optimizing accordingly.

Leveraging Hybrid In Biotech

The task for life science leaders is to leverage the best of both worlds. There are ways to give people the flexibility to work from home but also have some incentives to bring them into the office and cultivate a strong, collaborative culture.

The feedback I've seen from employees is that they like the mix of face-to-face in-person time and work-from-home time. On a larger scale, what employees think of remote work is indicated in a survey of 12,000 employees by the Boston Consulting Group, which revealed that the majority of employees surveyed early in the pandemic, a total of 79%, reported being satisfied or experiencing improvement in four key areas while remotely working: social connectivity, mental health, physical health and access to workplace tools.

Additionally, respondents noted that they were able to maintain or even increase their productivity remotely. Productivity on collaborative tasks, though, was shown to be more strained.

The bottom line is that organizations that build a hybrid and flexible workplace can attract a more diverse workforce. This includes young parents who appreciate the added freedom to manage their time during the day. You can hire talent that may be in a different geographical area, save on overhead costs and repurpose those costs toward intentional cultural, team- and organization-building activities.

Particularly, you can allow positions like project managers, program managers and clinical trial monitors to have the flexibility of hybrid work—even mainly working from home if that is their preference. And even team members that need to be there for clinical studies, scientific experiments or manufacturing runs can be given the flexibility to work from home on tasks that don't require them to be at the lab or on-site.

Recruiting Top Talent With Hybrid Work

Even with some of the constraints in biotech, companies with flexible policies are attracting top talent from competitors that are viewed as less accommodating. Recruitment firms are emerging that target dissatisfied individuals who seek remote or flexible working arrangements.

In the end, I think it is of growing importance for organizations and leaders to adapt and create environments that enhance the wellness and performance of their organizations. I recommend finding ways to include coworking spaces that invite collaboration when people are in the office, digital co-working systems that reinforce the working relationship when remote and intentional team-building activities that cultivate a strong and supportive culture.

I believe if leaders are spending time with their teams at all levels, they can create unique work models and cultures that will bring innovation to our industry.

In today's dynamic business, cultural, generational, social and geopolitical landscape, technical skills and industry knowledge are no longer sufficient for leaders to excel. In my years of not only leading a business but also working with other organizations, I have found that emotional intelligence (EI) is often a critical factor in leadership effectiveness, team performance and overall organizational success.

Let's take a closer look at EI and what actionable strategies you can use to enhance this skill set for not only your benefit as a leader but also for your organization at large.

The Impact Of Emotional Intelligence On Leadership

In my experience, leaders with high EI tend to create positive work environments, foster stronger relationships and drive better business outcomes. Here's how:

1. Improved Communication: Having high EI can help leaders communicate more effectively by tailoring their message and approach to their audience. Emotional intelligence often translates as being adept at reading nonverbal cues and adjusting one's communication style accordingly, resulting in clearer, more impactful interactions.

2. Productive Conflict Resolution: Emotionally intelligent leaders are often less afraid of conflict because they know how to approach it with empathy and objectivity. They're able to deescalate tense situations, find common ground and guide teams toward constructive solutions. I've also come to recognize the benefits of leveraging conflict to drive growth.

3. Increased Employee Engagement: Through genuine interactions and understanding for your team members, you can foster a sense of belonging and motivation, potentially leading to higher employee engagement, retention and productivity.

4. Better Decision-Making: Leaders with strong emotional intelligence are often more self-aware and less prone to impulsive decisions. They can consider the emotional impact of their choices on others, which can then lead to more balanced and effective long-term decision-making.

How Leader EI Shapes Company Culture

A leader's emotional intelligence shouldn't just impact their immediate interactions; it should also permeate the entire organizational culture.

1. Setting The Tone: Leaders model behavior for the entire organization. When executives demonstrate high EI, it helps set a standard for emotional awareness and regulation throughout the company.

2. Fostering Psychological Safety: Emotionally intelligent leaders can effectively create environments where employees feel safe to express ideas, take risks and admit mistakes. This is important for innovation and continuous improvement.

3. Building Resilience: Organizations led by emotionally intelligent executives are often better equipped to navigate change and adversity. According to an NIH study, leaders with high EI are more likely to know how to inspire confidence and provide emotional support to team members during challenging times.

Strategies For Improving Emotional Intelligence

• In Yourself

Having high EI doesn’t necessarily mean that you will never lose your cool. However, being able to recognize the impact of losing your temper and develop strategies to manage conflict effectively is a great step toward maintaining a healthy workplace balance. Consider implementing stress- management techniques such as deep breathing, positive visualization and, if possible, taking a brief walk.

• In Your Team

There are many things you can do to enhance the overall EI in your workplace. First, directly seek feedback from your colleagues, mentors and direct reports in order to gather invaluable insights regarding how to continuously improve the overall EI for your organization. In my experience, I've found it helpful to seek honest feedback during one-to-one conversations, where individuals may feel more comfortable sharing their thoughts.

This can be an effective way to then launch some team building to cultivate trust and collective empathy in your team and to show recognition of the team's commitment to the mission of your organization. I've found it impactful to show gratitude by directly thanking employees, remembering the things that are important to them, and reminding them of the positive impact of their presence.

Measuring The Impact Of Emotional Intelligence

To help ensure your efforts in developing EI are paying off, consider these methods:

1. 360-Degree Feedback: Implement regular 360-degree feedback assessments to gauge how others perceive the emotional intelligence of their leaders, other team members and overall for the organization. Track changes in employee engagement and satisfaction scores as you develop your EI skills.

2. Performance Metrics: Monitor key performance indicators (KPIs) that may be influenced by improved leadership, such as team productivity, employee retention and customer satisfaction.3. Self-Assessment: Regularly assess your own progress using emotional intelligence assessment tools or questionnaires. I greatly enjoy using tools like BlueEQ to provide me with insights on my progress and areas that need more improvement.

Emotional intelligence is not a soft skill; it's an important competency for leaders in today's complex business environment. I have witnessed how, by developing and leveraging EI, executives can create more engaged teams, foster innovative cultures and drive sustainable organizational success. The journey to improve emotional intelligence is ongoing, but the rewards—both personal and professional—are often substantial.

Remember: As a leader, your emotional intelligence sets the tone for your entire organization. By committing to enhancing your EI, you're not just improving your own leadership capabilities; you're paving the way for a more emotionally intelligent, resilient and successful company.

The mindset of leaders is critical in shaping corporate culture. If you're leading or joining a team, it's important to cultivate behaviors, attitudes and mindsets that promote innovation and result in a supportive and resilient culture. As a leader, I always believed that if you encourage a philosophy of growth, approach challenges with a beginner's mindset and cultivate the "power of yet," you will end up with extraordinary teams and originality as part of your organization's DNA.

The term "growth mindset" was first introduced by the work of Dr. Carol Dweck regarding the ways students react to failures or challenges. Students who focused on the effort and learning rather than on the experience of failure were able to do better the next time around. In her book, Mindset: The New Psychology of Success, Dweck suggests that what sets successful people apart is the way they approach life's challenges rather than only their talents, education or innate skills.

Why is this important for entrepreneurs? Any time a company sets off with an idea of something new, it's a hard journey. Something will go wrong at some point, so you need to be ready and resilient and turn the challenges into opportunities and growth for you, your team and your company.

Build A Culture And Hire For Growth Mindset

Entrepreneurs with a growth mindset realize that it's sheer hard work and determination—not only aptitude, income, time or any other characteristic—that ultimately results in success. Hard work and growth get people to the finish line. In this way, the "power of yet" fosters fortitude; it's not about if I'm able to do something or if my company will achieve the next milestone, it's when. This is something that can be seen while interviewing someone for a job. What's important isn't that they know; rather, it's the willingness to learn and grow. As author and speaker Simon Sinek would phrase it: "You don't hire for skills, you hire for attitude. You can always teach skills." I like to say they can always learn skills or teach you a new skill. A company with a growth mindset culture highlights the importance of the 360-degree learning experience.

It's essential to establish a purpose beyond yourself so that you're willing to grow alongside others. Having a business with clear goals for making a difference (beyond making a profit) can help you push personal boundaries and learn new skills in pursuit of the success and transformation of your organization, and it can significantly impact your work on society, humans and the world.

Additionally, I think bringing humility to every task as a leader is essential—even if you have the experience and knowledge needed for a given issue. You never know what you can take away from a situation that can allow you to become a stronger leader, inventor, innovator, developer or whatever you already are.

Take On Challenges With A Beginner's Mindset

I remember a colleague telling me not to solve a problem with the same mindset that led us to it. This was so brilliant and made me think about approaching it with a fresh outlook and bringing innovation to our solutions. Let's approach it with the beginner's mindset—one that remains open to learning and seeing things with a fresh set of eyes every time.

Evolving as a leader requires this openness to change, to dynamic interpretations of situations that would otherwise be quickly and easily dismissed. There's also a sense of playfulness that I believe comes with approaching business challenges in this way, allowing for creative solutions that might be overlooked by a more stringent, traditional way of thinking.

In addition, applying the growth mindset—which, by definition, is one where the entrepreneur embraces challenges and leverages pitfalls or setbacks along the way as learning experiences rather than limitations—is especially critical for leaders to accept because hurdles to success are inevitable when starting a new business venture. Being open-minded allows for an agility that can help entrepreneurs move between fields or specialties with ease. It also makes you more resilient to the challenges that will arise as your business goes through its own version of growth.

This, in turn, requires leaders to not only be perceptive but also agile when it comes to roadblocks. Iterations and flexibility can go a long way in allowing a company to continue to grow in the face of delays or downturns in the markets.

Often, we create a five-year plan and stick to the script as closely as possible, hoping that this will drive us forward. However, looking beyond this plan in every direction can help leaders bring their companies to newer heights. It is important to have a clear vision, but the details and the path to get there have to be flexible. As a leader, you must understand that there are many unknowns you will face, but how you approach them is what will set you apart. Believing that you can grow and that those around you can also evolve will help you take the company further.

A Harvard Business Review survey found that employees working for companies with a growth mindset are 49% more likely to say that their company fosters innovation, and 47% of those surveyed were more likely to find that their colleagues were trustworthy—another valuable asset to driving a business forward.

Practicing the "power of yet" and promoting a growth and beginner's mindset is essential for every business and company to hold on to because it allows you to try new things while remaining clear on your mission and vision. Take the time to examine mistakes or challenges in a new light with an open mind since there's always something to be learned. Leaders can also establish open channels of communication within the organization for feedback and new ideas to encourage a growth environment. This can encourage collaboration and bring about new ideas that can help propel your company foward.

Excelling in a high-caliber industry requires a distinctive combination of attributes. Specialized expertise and business operations skills provide a solid foundation. A functional knowledge of ancillary areas, such as IT and accounting, is a definite plus. Lacking that, the company can easily hire experts in applicable disciplines.

Interpersonal and leadership skills help equip a business owner or senior executive to leverage positive relationships with internal and external partners. High emotional intelligence, and an ability to empathize with others, are also important. Finally, a finely honed ability to multitask and prioritize enables top-tier professionals to rise above the crowd.

Not coincidentally, these last two “soft skills” are exactly the same ones that allow working mothers to adeptly juggle multiple daily responsibilities. As a successful executive with two energetic young children, I regularly multitask and prioritize at home and in the C-suite. I've found that these skills—which are common among many mothers—complement industry expertise and can provide a solid foundation for career achievements.

For companies that are hiring, recognizing the unique strengths that working mothers often bring to the table could provide a competitive edge:

Multitasking And Prioritizing

In any industry, a leader’s ability to multitask enables them to manage multiple functions or tasks at the same time. In my company, I may be preparing for an investors’ meeting while monitoring industry trends and scanning emails for “urgent” subject lines. Alternatively, I may be planning an overseas trip while organizing projects for my team to handle while I’m gone.

Successfully juggling (and prioritizing) multiple projects requires an ability to focus while being ready to adapt to changing circumstances. Many mothers fine-tune this skill set while overseeing their household and managing young children’s ever-changing needs. On some days, we also face time constraints dictated by medical appointments and other commitments.

Two useful tools help me to effectively set priorities in both work environments. First, the Eisenhower Matrix organizes tasks by importance and urgency. Mothers (and leaders) often learn to focus on the truly important tasks while postponing or delegating other projects. In the workplace, leaders must also ensure each task is matched to the person best equipped to deliver a top-tier performance.

Finally, the Pareto Principle (also called the 80/20 rule) states that for any endeavor, 80% of the outcomes result from 20% of the work. Using this guideline, mothers (and leaders) should focus on tasks that make the biggest impact on their goals. This approach enables the best utilization of available resources and time.

Conflict Resolution

The term “conflict resolution” can mean resolving a simple disagreement between two team members. Conversely, a large-scale conflict can threaten to derail client or business partnerships. Conflicts with regulatory agencies and external partners can also negatively impact a company’s competitive position. In this often-high-stakes game, an effective leader is equipped to listen to both parties and craft a compromise or mutually beneficial solution.

Mothers often develop conflict resolution skills while mediating battles between squabbling toddlers. In my case, I learned that it's always important to acknowledge both parties’ views while pursuing the best overall outcome.

Crisis Management

Crisis management presents a distinct set of challenges. In a corporate setting, a crisis can result from multiple factors that culminate in a potentially disastrous business problem. Alternatively, a crisis can suddenly arise from a firm’s financial misfortunes, market or supply chain disruptions, regulatory issues and other unexpected developments.

Regardless of the crisis’ cause, leaders must quickly analyze all aspects of the issue and craft a strategy to address it. While the CEO and their executive team work on this multifaceted problem, they must project an attitude of confidence and self-assurance about the situation’s outcome.

Stated another way, employees, investors and external partners want to see that the situation is under control.

Many mothers develop crisis management skills at home. A child could injure themselves during a fall or otherwise fall victim to an accident. An insect bite may trigger painful (and potentially serious) symptoms. A sudden power outage might dictate a revamping of the entire day’s plans.

In every case, the mother must step back and objectively view the situation before developing a strategy to manage it. And once she creates a workable plan, she has to get other family members on the same page. Managing these stressful situations is, in my view, excellent preparation for handling high-level leadership challenges.

Emotional Intelligence And Empathy

At its core, the term “emotional intelligence” refers to a leader’s ability to forge productive relationships, resolve emerging conflicts and motivate their team to accomplish preset goals. A leader with these capabilities demonstrates self-awareness, social awareness and self-discipline when interacting with others. A leader with high emotional intelligence also practices positive, respectful relationship management.

Besides maintaining control of one’s own emotions, an emotionally intelligent leader is aware of their team members’ emotions and motivations. The leader can also empathize with a team member facing personal or professional challenges. This mutual awareness, and emotional bonding, together form a solid foundation for effective workplace communication.

Not surprisingly, working mothers often possess a high degree of emotional intelligence. As parents, they are accustomed to responding to their children’s emotions and needs. This capability is particularly useful in a stressful crisis situation when emotions are running high.

Mothers in leadership roles are often well-equipped to manage their own emotions while supporting team members who may be upset or challenged in some way. This promotes improved team cohesion and better employee morale, especially in high-stress situations. With everyone on the same page, the leader is better able to motivate their team toward an optimal outcome.

Considering Skills Across Disciplines

These "soft skills" help to create a well-rounded, innovative and committed leader in any industry. For hiring managers and HR personnel, candidates who exemplify these skills are an asset to any company.

In changing industries and across various segments of employment, working mothers can not only. succeed within their positions but bring a unique set of skills and perspectives to their roles. Thus, identifying these prospective skills through interviews and conversations is integral to allowing working mothers to highlight and share their hard-earned skills.

Steering a 21st-century company forward is (at best) a constant balancing act. The firm’s CEO and executive team are tasked with managing business operations while keeping the budget in check. Handling unexpected issues, and reaching key strategic planning targets, also requires everyone’s sustained attention. In my company, every day is filled with challenges that aren’t in the management playbook.

Adding uncertainty to the mix doesn’t make the process any easier. Maybe the company is bucking economic headwinds and/or an industry downturn. Conflicting business priorities and tougher capital acquisition are also potential concerns. As CEOs, we must navigate these issues while motivating team members to keep moving toward established company goals.

5 Universal Strategic Guidelines

In any industry, managing teams during periods of uncertainty is a complex proposition. Proactive CEOs will work to resolve specific problems while supporting team members who are navigating their own challenges.

1. Empathize And Offer Support

First, offering empathy and support to team members is crucial. I carve out time to listen to employees’ concerns and offer encouragement and resources. Team members who feel validated and supported may be more willing to work toward team and organizational goals.

Promoting a positive work environment is key. Offering budget-friendly workplace perks is a good start. Stress management resources, such as free seated massages and chair yoga, can help team members maintain a positive mindset. A qualified mental health professional can offer additional guidance.

2. Proactively Assess Emerging Risks

Regardless of the industry, every CEO should regularly assess potential company risks. Risk factors include economic conditions, competitive influences and regulatory issues. Some existing risks may be magnified, while emerging risks present additional threats.

For each risk, the CEO should define the risk and its potential impact. Equally importantly, the proactive leader should identify ways to minimize and/or mitigate these risks. Establishing targeted risk management protocols represents the final piece of the puzzle. To promote the best outcomes, consulting with risk management specialists is worth consideration.

3. Break Down Silos And Encourage Collaboration

Many legacy companies traditionally operated in silos, with business units rarely sharing resources and driving operational efficiencies. During times of uncertainty, this approach simply won’t work.

Resolving important problems requires an “all hands on deck” mindset. To begin, each firm’s CEO should practice transparency, outlining the challenges that face the organization. Next, they should share strategies for overcoming each problem, detailing how business units can collaborate. Through these actions, the CEO can promote trust and decrease team members’ anxiety about the company’s future.

4. Embrace Agility And Strategic Innovation

When an organization is faced with uncertainty, maintaining the status quo is not a productive strategy. Instead, the firm’s CEO and senior leaders should pivot to a posture of agility and innovation. First, they should scrap projects and processes that no longer work. Next, they should adopt strategies and methods more appropriate for current realities. If market conditions and resources are in alignment, the landscape could be ripe for innovation.

Regardless of the specifics, adopting an agile approach enables the firm to better navigate the current turmoil. The company’s leaders will also be better positioned to pursue emerging business opportunities.

5. Cultivate Resilient, Resourceful Leaders

Resilient leaders are key to an organization’s ability to successfully navigate uncertain times. In fact, McKinsey published a study demonstrating the value of resilience to an organization’s survival prospects.

When companies were rated in the top quarter for healthy, resilient behaviors, the businesses were over 50% less likely to experience bankruptcy over the coming two years compared to those companies in the bottom quartile.

Resilient leaders display high-level active listening skills, enabling them to accurately discern their team’s dynamics. These leaders also minimize unnecessary meetings and cumbersome bureaucracy. Concurrently, team members should be given flexibility and authority to accomplish important tasks.

On the leadership side, a higher-risk decision matrix designates leaders responsible for addressing mission-critical problems. Lower-level managers can quickly resolve less risky issues. Effective leaders also practice self-care and stress management, enabling them to set an example for team members. To me, self-care is a non-negotiable activity—regardless of the crisis level.Creating Capital Acquisition Strategies

Generating capital for new technologies and/or expanded operations is an ongoing challenge. When faced with economic and/or industry uncertainties, it seems like an insurmountable task. That said, I’ve seen a small percentage of companies continue to bring in much-needed investment dollars. This dual-component strategy may prove beneficial.

For starters, CEOs should regularly conduct thorough market analyses. Learning about global economic trends, along with industry-specific performance metrics, can help a firm improve its position relative to the competition. Staying apprised of industry investor dynamics is also important.

Next, periods of economic/market uncertainty can produce limited-window opportunities. In my view, highly agile companies that keep their investor pitch decks and other relevant materials current are best positioned for success.

Setting Operational Priorities

During times of uncertainty, CEOs and other company leaders could see their carefully laid roadmaps thrown by the wayside. Conflicting priorities can create a “tug of war” for available resources. Team members may feel unsettled like they’re drifting along without direction. If this dynamic continues unchecked, an increasing number of team members could choose to abandon this seemingly rudderless ship.

This increasingly dire situation requires immediate action. First, the CEO and other senior leaders should strengthen relationships with team members. Rather than focusing on logistics and performance metrics, leaders should display empathy for team members’ concerns. Encouraging employees to address relevant issues, and taking definitive action to resolve them, are key. With everyone on the same page, the CEO and their leadership team should quickly set clear, easily understood priorities—and stick to them. From this perspective, leaders should guide team members in achieving preset goals representing clear steps forward.

In my view, esoteric “wish list” activities should be put on the back burner until the situation improves. Once the CEO has clear evidence of progress, and the company is meeting established goals, leaders can revisit areas of potential growth.

Entrepreneurs and investors are both needed to enable the advancement of companies and lead to the successful development of products. Entrepreneurs need to be deeply committed to their businesses, devoting long hours to elevating their companies. They perform a balancing act daily, prioritizing and juggling critical decisions and challenges.

As a former biotechnology entrepreneur, this aptly describes my work days then, and it is not that different moving to the investment side. Investors have to make daily decisions about where to dedicate their focus and which portfolio company needs their help or attention. They monitor industry trends, source deals and evaluate the overwhelming number of pitch decks that land in their inboxes. They focus on finding opportunities that offer the best chances of a desirable return.

Throughout my professional career, I have gained valuable insights from those who have been in my shoes. Without exception, this advice has helped me accomplish my goals on both the micro and macro scales. Here, I offer three nuggets that may help entrepreneurs better navigate their interactions with potential investors.

1. Good Organization Is Key

First, good organization lays the foundation for success. Peter Strack, a serial entrepreneur and Forbes Business Council member, noted that a well-organized entrepreneur inspires confidence in the leader’s ability to manage their company. I find that organization is critical not only to bring investors into your mission but also so you can communicate effectively within your organization and deliver on your promises.

This type of organizational thinking requires a great deal of discipline, and Strack writes, "When you are your own boss, you may only have your own self-discipline to hold you accountable." I’ll add another salient point. In conversations with potential investors, they find that a well-organized entrepreneur has an uncluttered mind and an increased ability to focus on the issues at hand. This enables them to better absorb constructive feedback, often leading to more positive outcomes. More organized entrepreneurs tend to be able to better listen and implement feedback, which oftentimes makes them more successful.

2. The Word "No" Is Just A "Not Now" Or "Maybe"

Sales forms the foundation of all entrepreneurial ventures. Regardless of the potential of a technology, product or service—whether it is a late-model car or a drug development platform—the entrepreneur wants someone in their target market or investment to say yes.

Of course, for various reasons, the prospect may say no. Maybe the platform is too early, the product differentiation is not clear or the investor is just busy with other pressing priorities. Maybe it’s just not a good fit at the time. Sometimes, the entrepreneur hasn’t uncovered the real objection keeping the prospect from saying yes.

As an entrepreneur, I regularly navigated this maddening scenario. However, I didn’t react negatively to each potential investor. Instead, I chose to step back, regroup, ask for feedback on why it wasn’t a good fit and continue to optimize the strategy and our programs. When I was the CEO of a company, I believed in the statement that "no is just a maybe or not now." I continue to take this mantra with me into the investing space, where it's also relevant.

3. Proposal Review Times And Bandwidth Issues

After making your pitch, it’s natural to hope for an immediate yes. Sometimes, the prospect believes the offering aligns with their needs, and they immediately jump on board. If they don’t, the entrepreneur must navigate the prospect’s hesitancy (and often their objections) in an effort to get clear feedback or agreement.

When pitching to an investor, a different set of dynamics comes into play. Regardless of the industry, investors often allocate millions of dollars to support a particular company’s growth. Before making this substantial commitment, an investor thoroughly evaluates each candidate’s pitch deck, financial health and other relevant factors. Completing the financial due diligence is especially important.

Entrepreneurs should understand that the investor needs time to decide if the proposal represents a suitable investment risk. Alternatively, the investor may have already spent their available funds for the current cycle. As someone who is now an investor, I can confirm that it takes a great amount of due diligence and time to review proposals and investment potential. So if you hear back immediately, that's likely why. Additionally, some investors may turn down opportunities simply due to bandwidth rather than an idea not being potentially successful.

How Entrepreneurs Can Thrive In The Investment Arena

By necessity, entrepreneurs are passionate about their company’s mission. They often possess a seemingly unlimited supply of enthusiasm and energy. In fact, more often than not, they must be reminded to devote time to their personal well-being. This caveat certainly applied to me.

To succeed as an investor, though, a leader must adjust their mindset and their operational parameters. First, they should adopt the "slow and steady" approach rather than being rushed into potentially disastrous investment decisions. Along these lines, I don’t advise jumping into an investment just because others in the industry have hopped on the bandwagon.

A strategic game plan and evaluation criteria can enable an investor to objectively track a company’s performance over time. This plan can also help the investor focus their attention rather than taking a scattershot approach.Finally, when dealing with a fair investor, a candidate’s above-average pitch and/or existing professional relationship shouldn’t automatically mean your company will be selected. Regardless of the pitch’s source, I believe that the best investors go with the maximum due diligence with every candidate. Applying the same standard to everyone ensures a fair selection process and sets the stage for a mutually beneficial investment relationship

While companies of all sizes across various industries adapt their processes to make room for innovative artificial intelligence (AI), the financial and investment industry is catching up and leveraging AI tools to enhance their operations and improve their performance. I'm seeing that the financial industry and investment firms can and are implementing various AI tools to help boost their productivity, error margins and overall efficiency.

Being the managing general partner of a global equity investment firm focused on life science companies, I have always been interested in the application of AI in the life science industry. I believe there is a significant opportunity to streamline and optimize drug discovery, development, data analysis, product launch, post-market analysis and patient experience. There are significant additional areas that AI and machine learning could be applied to as well, such as electronic patient records, intellectual property strategies and searches and more.

This is an industry that is data-rich, and as an investor with significant insights into science and operations, I can see value in using AI tools to streamline aspects of the research done at an investment firm. It could help with tracking news; researching the competition; comparing clinical trial results; and supporting predictive models to identify the probability of success for a specific catalyst, development milestone or product performance. AI can also help support portfolio construction, performance and real-time decision-making and adjustment, thus enabling portfolio managers to react quickly to internal and external information.

Use Cases For AI In The Investment Industry

1. Elevating investment searches: Each investment brings a potential risk that must be vetted thoroughly. Investors might use AI to assist in the vetting process by providing background information. Access to the background of the business and its competitors in an efficient way can enable informed decisions with a faster turnaround period. AI tools can help streamline the analysis of a potential investment’s returns, sales and profitability as well.

2. Industry analysis and trend forecasting: Investors closely monitor trends across various industries, as macro and micro changes can impact the different companies in their portfolios. Traditionally, this means that teams or individuals must manually keep their proverbial “eye on the pulse” across many industries, a nearly impossible task in arenas that experience frequent change and innovation. Using AI to gather relevant data points, highlight new studies and analyze trends across various industries can provide a unique advantage to an investment firm.

3. Enhancing due diligence efficiency: Most firms have to comb through a large number of potential investment opportunities, but if a firm has a clear investment mandate or thesis, it can use AI tools to sieve through a large number of opportunities and identify the best fit. Various AI-enabled software technologies can scan legal documents, financial statements and pitch decks. AI can also help complete the vetting process and identify companies that fit the fund's strategy. In addition, I've seen some software that can pinpoint opportunities that might not have significant materials; it doesso by using pattern recognition to match the firm’s interests and historical investment trends to that of the startups in question.

4. Improving fundraising opportunities: Fund managers often dedicate significant time to identify potential investors. AI can assist in creating individual investor profiles and identifying fundraising opportunities. By providing the AI algorithm with pertinent information about an upcoming funding round, fund managers can receive a targeted list of potential investors. This streamlining provides the fund manager with more time to create genuine connections and foster long-term relationships with investors.

Best Practices For Leveraging AI As An Investor

While AI-integrated tools continue to grow, I've found there are two notable applications that seem to be gaining traction in the world of venture capital. First, machine learning algorithms are used by firms due to their ability to learn and analyze a large data set efficiently. By repeatedly using the algorithm and honing in on specifics, users actually make the machine learning model “smarter,” thus rendering more accurate predictions and analyses over time. Secondly, a natural language algorithm is used to analyze a candidate’s corporate language and forward-facing presentations. Based on key learnings, the algorithm then presents full details of the company’s landscape and relevant information.

While it has been around for a while, the accessibility to AI tools and the potential of integrating them widely is new. Unless you are an investor with a background in AI, you will likely not have clarity on where to start or how to use AI tools. If you have never used AI, one thing to consider is looking at tasks that are lower risk but still take a significant portion of your time. Identify software and tools that can help you streamline these tasks. Make sure to track the performance of these tools to give you confidence that you can rely on them long term.

I also recommend exploring workshops that give a good basic understanding of AI and how to use it effectively. Then, if you are looking to integrate it further into your operations, you can consider hiring an AI and data scientist to support building purpose-built models specifically to fulfill unique aspects of your investment thesis. Start with generic tools, and then advance to tailored ones. This might help improve your firm's performance and ultimately differentiate your products as you scale your business. Multidisciplinary talent is hard to find, and working with AI and data scientists might be challenging, but realizing ways to communicate the unique aspect of your industry and learning the basic concepts of AI will help build a strong collaborative team with successful unique products.

AI might not be the industry or area you are investing in, but incorporating tools in your day-to-day could help you stay relevant in this new era of investing. Especially considering that a lot of companies are incorporating AI into their services, having a basic understanding could not only help you grow your firm but also support your ability to evaluate new investment opportunities.

This information frequently helps to develop my strategic decisions, and it positions my company for further growth. As would be expected, the person who offered the insights is regarded as an industry leader. Generously sharing their knowledge with others further enhances their personal and professional credibility.

Fortunately, entrepreneurs and executives in any industry can take the lead in this dynamic information exchange. It’s the essence of “thought leadership,” a practice in which a recognized industry expert delivers insights that enrich their audience in multiple ways.

Profile of a Thought Leader

A thought leader knows their industry or area of expertise inside out. They typically combine intensive technical knowledge and on-the-job experience. Over the years (and often over decades), they have typically managed increasingly challenging projects, spoken at multiple events, and gradually emerged as an industry luminary. One important point is they need to stay relevant and stay up to date.

This in-depth knowledge enables them to predict trends that aren’t even on others’ radar. In other cases, the thought leader may offer an innovative solution to a common industry problem. By taking time to research the issue and identify a viable option, they are helping to further the entire industry’s knowledge base.

And how do thought leaders determine their audience’s needs and pain points? First, they regularly engage with others in the industry. They also monitor industry and technology trends, attend conferences, and read professional journals and other publications. They stay up to date and engaged.

The Thought Leader Persona

Most thought leaders are not to become a thought leader but actually to have an impact. They tune out the noise around them and focus on what will provide significant value to society. Equally importantly, a thought leader delivers actionable information to help drive other businesses toward success.

Thought leaders have a natural curiosity about their industry and the world around them. They exhibit the ability to predict industry trends and technological breakthroughs. They have the vision and drive to identify current and future applications for these advancements. I also can’t overstate the importance of honesty, authenticity and emotional intelligence. These personal attributes enable a thought leader to engage in sincere, mutually beneficial “meetings of the minds” with other leaders. In a management role, a thought leader respects all team members’ contributions while motivating them to achieve a notable common goal.

Most importantly, a thought leader must take their ego out of the equation. They use their proven skills and talents to help others succeed ─ not to promote their agenda. And, of course, they listen. They constantly keep a pulse on the industry, and they have an uncanny ability to bring relevant issues and trends to the forefront.

Becoming a Thought Leader

To become an expert in any field, it takes years of study and hands-on experience. Becoming a respected thought leader requires two additional attributes: recognized leadership skills and the ability to inspire and motivate others in the industry.

To begin the journey, an aspiring thought leader should establish an area of expertise in their industry. They should resist the impulse to become a font of knowledge on virtually every related topic. Instead, they should delve deeply into a key area, becoming the “go to” authority for that discipline or technology.

Looking at the bigger picture, each industry continues to evolve, albeit at differing rates. Astute thought leaders learn about their industry’s makeup along with factors that could cause positive or negative impacts to their industry.

Examples may include economic trends, shifting product or service demand, and a changing competitive landscape. A thought leader often applies this knowledge to resolve existing or emerging industry challenges.

Finally, a thought leader should be willing to embrace knowledge from others in the industry.

Putting the Plan into Action

Cultivating (and maintaining) a thought leadership presence requires sustained effort on multiple fronts. To begin, the thought leader should educate themselves about industry trends and relevant issues. Identifying the right audience, and sharing game-changing ideas with them, are also key plan components.

Next, a thought leader typically maintains a highly visible industry presence. During attendance at key conferences, they participate in networking sessions and panels. While meeting with other industry leaders, they brainstorm ideas that could lead to new business agreements. When opportunities arise, they freely share their expertise with others who may benefit.

Publishing articles, blog posts, and/or videos. Presenting at webinars and conferences or workshops are other good options. Finally, thought leaders are often integral parts of their communities. They frequently participate in charity events and sponsor worthy initiatives. They may also collaborate with other business and community leaders, seeking to uplift the quality of life for everyone involved.