Summary
In this episode of Driving the Business of Science, Keith Parent, CEO of Court Square Group, and Dave Kwajewski, Executive Director of Business Development at Corealis Pharma, discuss the challenges and strategies in selling science. Dave, with 22.5 years in sales, emphasizes the importance of understanding scientific processes and the evolution of sales techniques, from traditional trade shows to AI-driven interactions. He highlights the need for companies to focus on their strengths, especially in early drug development, and advises leaders to hire smartly and understand market realities. Keith and David agree on the value of networking and personal interactions in building trust and closing deals.
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Guest Profile
Dave Kwajewski, Executive Director of Business Development, Corealis Pharma Inc.
Dave Kwajewski
Selling Science! What started out as a job has turned into my career and my passion. From territory-based sales of scientific tools and services to growing and managing a global sales organization, bringing innovative technology and services to the drug development community is my mission. Enabling great scientific organizations with the tools they need in order to develop better products ultimately makes people’s lives better. After over 20 years, I am as motivated now than ever to contribute to the health of the life science ecosystem through effectively selling science.
Introduction and Overview of the Podcast
- Keith Parent introduces the podcast, “Driving the Business of Science,” and himself as the CEO of Court Square Group.
- The focus of the podcast is on effectively selling science and overcoming barriers to growth.
- Keith explains the services provided by Court Square Group, including IT infrastructure management for life science companies.
- Introduction of Dave Kwajewski, Executive Director of Business Development for Corealis Pharma and founder of Selling Science.
Dave Kwajewski’s Background and Motivation for Sales
- Dave shares his 22.5 years of experience in sales, starting as a chemist and transitioning to sales for better financial opportunities.
- He emphasizes the importance of motivation, particularly financial motivation, in sales.
- Dave discusses his career in small molecule drug development and the fulfillment he finds in this field.
Keith’s Involvement in Sales and Industry Insights
- Keith mentions his current involvement in sales, attending a clinical trial conference on the West Coast.
- He shares his experiences interacting with customers and learning about the industry.
- Keith asks Dave about his transition to sales and what motivated him to stay in the life science sector.
- Dave explains his initial motivation for sales was financial, but his continued interest is due to his scientific background.
Dave’s Role at Corealis Pharma and Company Overview
- Dave describes Corealis Pharma, a company founded 20 years ago by three scientists to focus on early formulation development for biotech companies.
- Corealis Pharma thrived by providing fast and cost-effective services to biotech companies, often outperforming larger CDMOs.
- The company operated without a dedicated sales team for 19 years, relying on organic growth and word-of-mouth referrals.
- Dave’s role was created a year and a half ago to support the company’s growth and expansion.
Changes in Sales Strategies Over the Years
- Dave compares the sales strategies of 22.5 years ago to today, highlighting the shift from transactional sales to more complex, strategic sales.
- He discusses the evolution of sales tools, from paper maps and Excel spreadsheets to smartphones and CRM systems.
- The importance of trade shows in the past for gathering information and building relationships has diminished due to the rise of digital tools and AI.
- Dave emphasizes the need for salespeople to adapt to these changes and find new ways to connect with potential clients.
Impact of COVID-19 and Current Sales Challenges
- Dave notes the significant impact of COVID-19 on the early development space, leading to a surge in molecule development and increased demand for services like Corealis Pharma’s.
- He observes that the aftermath of COVID-19 has led to a decrease in investment in early development, with more focus on later-stage assets.
- Dave highlights the challenges companies face in staying focused on their core strengths and avoiding distractions from external influences.
- He advises companies to solve internal sales problems by understanding their root causes and making informed decisions about sales strategies.
Importance of Networking and Building Relationships
- Keith and Dave discuss the importance of networking and building relationships in the life science industry.
- Keith shares his experiences attending various conferences and events to learn about industry trends and meet potential clients.
- Dave emphasizes the value of having a strong network and leveraging it to gain insights and opportunities.
- They both agree that personal interactions and face-to-face meetings still play a crucial role in building trust and closing deals.
Final Thoughts on Sales and Business Development
- Dave advises leaders to understand their sales problems and make informed decisions about hiring and sales strategies.
- He emphasizes the importance of hiring smart and taking the time to find the right candidates.
- Dave encourages scientists considering a career in business development to do their due diligence and leverage their networks for support.
- Keith and Dave conclude the podcast by reiterating the importance of adapting to changes in the industry and maintaining a strong network.