SVA Consulting has incredible success working with emerging life sciences companies. When transitioning from R&D to operational, SVA helps prepare them for a true operating business.
Life sciences can be a more straightforward industry because there are defined gates to pass through. As companies progress through those gates, they have higher probability and awareness. At some point though, the model switches to an operating model which must be focused on revenue and profit, instead of on product development.
These organizations must now create operating procedures, revenue recognition, control procedures, and separation of duties. All these factors are not limited to life sciences, but all businesses in general.
While life sciences organizations have the advantage of the defined gates, they do not always have the luxury of knowing probabilities of success. SVA Consulting can add value in this regard, so entrepreneurs can focus on their business idea, product development, and how to get to market.
Much of this is done through a de-risking strategy, which is when an organization is in an innovative place and they are more comfortable with the likelihood of success the more they advance through the gates. The de-risking strategy is designed to get the organization in as confident of a place as possible before the launch.
In the de-risking strategy, the goal is to build in very small circles of success that get larger and expand in scope. All of these have checkpoints to de-risk to make sure the organization isn’t on the wrong path and headed for failure.
Every business starts somewhere, and it evolves and grows. The business progresses and needs appropriate scalability, while making sure to not take unnecessary risks throughout the process.
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