VP - Strategic Business Development

Company: Precision Medicine Group
Location: Boston
Posted on: November 1, 2024

Job Description:

VP - Strategic Business Development
at Precision Medicine Group (View all jobs)
Remote, United States

Vice President (VP) Strategic Business Partner

Position Summary

The VP, Strategic Business Partner, a role that requires a balance of business acumen and interpersonal acuity, is accountable for developing new Precision AQ revenue opportunities within existing accounts by building strong client/stakeholder relationships, identifying high-value opportunities, promoting all Precision AQ capabilities, and monitoring competitive/pipeline developments.

The VP, Strategic Business Partner reports to the Chief Growth Officer, and may have direct reports (i.e., BD Team), as well as indirect reports (i.e., Inside Sales Team).

This position is accountable for:

• Developing and executing annual strategic business plan to drive new revenue and sales growth of all Precision AQ products & services as measured by sales bookings-and directly accountable for large, market-leading life sciences companies
• Building and maintaining relationships with clients (especially at the senior executive level), and leveraging these relationships to generate new business opportunities and drive revenue growth
• Managing client opportunities from prospecting, solution development, SOW finalization, and successful transition to Precision service lines for implementation
• Collaborating with Precision service lines to coordinate account information/relationships and advance cross-selling opportunities to expand market share within targeted accounts
• Promoting Precision AQ capabilities and solutions through lead generation activities (e.g., conferences, trade shows, webinars)
• Informing/directing market research and analysis to identify trends, competitive landscape, and potential opportunities
  Essential Business Development functions of the job include but are not limited to:
  
  • Developing and executing annual strategic business plan to drive new revenue and sales for all Precision AQ products & services, as measured by sales bookings
  • Create ongoing client-specific development strategies and plans to achieve annual business development and sales targets by client
  • Collaborate with Precision AQ service lines to inform budgets, forecasts, and metrics
  • Building and maintaining relationships with clients (especially at the senior executive level), and leveraging these relationships to generate new business opportunities and drive revenue growth
  • Engage life science clients-either individually or in group presentations-to create and cultivate new relationships that lead to additional revenue opportunities
  • Managing client opportunities from prospecting, solution development, SOW finalization, and successful transition to service lines implementation
  • Actively manage the client sales cycle including prospecting, stakeholder meetings, proposal development, proposal delivery, pipeline management, and transition to implementation
  • Anticipate client needs and prepare executive summaries and presentations that cultivate opportunities and demonstrate the value of Precision AQ solutions
  • Negotiate client deliverables and development/maintenance value-based pricing
  • Maintain and update client records in Salesforce
  • Collaborating with Precision AQ service lines to coordinate and advance cross-selling opportunities and expand market share within targeted accounts
  • Communicate client needs, feedback, and recommendations with service lines
  • Initiate company-wide communications and collaboration to further the Precision AQ value and foothold within the client
  • Coordinate with Marketing and Sales Operations to inform strategic marketing and lead generation activities
  • Promoting Precision AQ capabilities and solutions through involvement in lead generation activities (e.g., conferences, trade shows, webinars)
  • Represent existing engagement resources and innovation by presenting at conferences and trade shows
  • Expertly manage subsequent relationships as part of the selling process
  • Directing analysis to identify trends, competitive landscape, and potential opportunities
  • Contribute to pricing and competitive positioning for Precision AQ solutions
  • Be a student of the life science marketing industry knowledgeable of new products, platforms, and services
  • Spearhead competitive assessment by tracking competitors and their initiatives and analyzing competitive threats from within and outside the market
  • Travel up to 50%
    Team Leadership & Development
    
    • Inspire a culture based on teamwork, accountability, and intellectual curiosity and lead as a role model for excellence, integrity, and respect for others
    • Manage and coach team members with Situational Leadership
    • Own team member hiring, training, development, and staffing allocation
    • Provide rolling feedback, conduct regular performance reviews, and maintain career path development plans for direct reports
      Qualifications
      
      • Required
        • BS in business and/or marketing, or similar
        • 20+ years of experience, optimally in life sciences company sales and marketing positions, or professional services firms selling products and/or consultancy to life science companies
        • Successful track record in driving revenue growth and achieving business results
        • Expertise in consultative, insight-focused, account-based selling approach
        • Comprehensive understanding of life science customer experience and engagement strategies and tactics
        • Demonstrated broad influence leading cross-functionally in organizations
        • Experience in managing and developing teams
        • Computer applications: MS Office applications
        • Preferred
          • MBA/MS in business and/or marketing, or similar
          • Computer applications: Salesforce
            Skills
            
            • Communication : Excellent communication and people skills, with the ability to articulate complex ideas and solutions in a clear and compelling manner
            • Project Management & Collaboration : Strong project management skills, with the ability to manage multiple projects simultaneously and to work effectively with cross-functional teams
            • Sales : Ability to identify, qualify, and negotiate effectively with clients to close business deals. Experience with consultative, insight-focused, account-based selling approach
            • Analysis : Strong analytical skills and the ability to use data and metrics to drive decision-making and measure the success of business development efforts.
              Competencies
              
              • Strategic Thinking : Ability to think creatively and strategically to identify and pursue new business opportunities, develop effective business plans, and achieve organizational goals
              • Relationship-building : Ability to build and maintain strong relationships with clients (especially at the senior executive level), and to leverage these relationships to generate new business opportunities and drive revenue growth
              • Industry Knowledge : Strong understanding of the consulting services and life sciences industries, including market trends, competitive landscape, and emerging opportunities
              • Adaptability : Ability to adapt to changing market conditions, client needs, and business priorities, and to pivot strategies and tactics as needed to achieve business goals
              • Leadership : Ability to lead and mentor junior team members, to inspire and motivate colleagues and partners, and to drive a culture of excellence and accountability
              • Results-orientation : Track record of success in driving revenue growth, achieving business targets, and delivering results
                
                Precision is required by law in some states or cities to include a reasonable estimate of the compensation range for this role. This compensation range takes into account the wide range of factors that are considered in making compensation decisions including but not limited to: skill sets, experience and training, licensure and certifications, and other business and organizational needs. The disclosed range estimate has not been adjusted for the applicable geographic differential associated with the location at which the position may be filled. At Precision, it is not typical for an individual to be hired at or near the top of the range for their role and compensation decisions are dependent on the facts and circumstances of each case. This role is also eligible for a discretionary annual bonus, health insurance, retirement savings benefits, life insurance and disability benefits, parental leave, and paid time off for sick leave and vacation, among other benefits.
                
                Reasonable estimate of the current range
                
                $211,000 - $277,000 USD
                
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                Precision Medicine Group is an Equal Opportunity Employer. Employment decisions are made without regard to race, color, age, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or other characteristics protected by law. - 2020 Precision Medicine Group, LLC
                
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Keywords: Precision Medicine Group, Boston , VP - Strategic Business Development, Executive , Boston, Massachusetts