3 Pitfalls to Avoid When Growing a Pipeline

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3 Pitfalls to Avoid When Managing Academia, Biotech, and Pharma All at Once

Introduction

We’ve all been there: you start a new job or take on a new territory and—surprise!—you need to become an expert in managing academic institutions, biotech companies, and pharma accounts. And if that wasn’t enough, strategic accounts are also on your plate!

The truth is that each of these segments demands unique skills and mindsets, and often different people are needed to manage them effectively. Yet most companies don’t have the luxury of deep segmentation. That’s where Succession.bio comes in.

We’re here to help you master the balancing act of juggling academia, biotech, and pharma all in one territory. Each segment has its own quirks, timelines, and, of course, budgets.

After seeing many sales reps cover these diverse, ever-changing sectors, here are three common pitfalls and how to avoid them like a pro.

Pitfall #1: Putting All Your Eggs in the Pharma Basket

What Happens

Pharma typically has the biggest budgets, so it’s tempting to focus all your energy on “whale hunting.” But the approval and documentation processes can drag on for 6, 12, or even 18+ months—meaning you could wait a long time to see results. Few sales managers are willing to sit tight for 18 months without seeing some wins along the way.

Actionable Tips

1. Build a Tiered Pipeline
   Keep pharma deals in a “long-term pipeline” and set monthly or quarterly milestones (e.g., data requests, stakeholder meetings, pilot studies).

2. Maintain a “Quick Win” List
   Track smaller academic or biotech opportunities with shorter sales cycles. This ensures you’re still closing deals and hitting targets while nurturing pharma leads.

3. Track Engagement Rigorously
   Use clear CRM flags (e.g., “High Value - Long Term”) for pharma deals. Know they’re worth the wait, but don’t let them monopolize your time.

Pro Tip: Aim for 60–70% of your pipeline to be shorter-cycle deals (academia or biotech). This keeps a steady flow of revenue while you wait on the “whales.”

Pitfall #2: Underestimating Academia’s Slow-Fast-Slow Funding Cycle

What Happens

Academic budgets can move quickly if funding is approved—but if they’re waiting on grants, the timeline can stretch for months. Understanding each project’s funding source and timeline is critical for planning effectively.

Actionable Tips

1. Stay on Their Radar
   Schedule regular check-ins (quarterly or bimonthly) to share product updates or case studies. Academia loves data, so highlight relevant published results.

2. Offer Flexible Solutions
   Grants often come with strict spending guidelines. Tailor your proposals to align with their unique budget constraints.

3. Partner with Key Influencers
   Identify well-funded labs or principal investigators (PIs). Their endorsements can speed up adoption across departments or institutions.

Pro Tip: Academic R&D budgets have increased by around 12% in recent years, largely due to industry collaborations. If you stay connected, you’ll be among the first to hear when new funding arrives.

Pitfall #3: Overlooking Biotech’s Speed (and Pivot Potential)

What Happens

Biotech companies are often small, agile, and quick to pivot. They value scientific accuracy and can make rapid decisions—making for a shorter sales cycle and faster wins. Don’t underestimate their potential just because they’re smaller organizations.

Here’s a real-life incentive: I once landed a seven-figure deal with a biotech startup of fewer than 10 people. It took just three months for the first order—and another two months to close the second. They had the budget, needed speed, and were ready to invest in the right solution. We even created a new product category just to meet their needs. The result? They hit their milestones fast, secured more funding, and we all walked away with a massive win.

Lesson learned: Never underestimate the “little guys.” Their urgency and focus can turn into your biggest success story.

Actionable Tips

1. Map Their Growth Stage
   Early-stage biotechs may have limited budgets, but those in Series B or beyond might be flush with capital.

2. Size Isn’t Everything
   Don’t be fooled by a small headcount. A “virtual” biotech with fewer than 10 people can still be a significant revenue source if they have funding and need to outsource.

3. Communicate Frequently
   Schedule monthly calls or check-in emails. Biotech teams appreciate real-time collaboration and want partners who can keep up with their rapid pace.

Pro Tip: The average biotech sales cycle is 3–6 months, but it can be shorter if the need is urgent and funds are available. Be proactive—don’t wait for them to call you.

Wrapping It Up

There you have it: three pitfalls that often snag sales reps who manage academia, biotech, and pharma. The key to success is balance—nurture those pharma deals for the long haul, stay on top of academia’s funding cycles, and keep up with biotech’s quick pivots.

Need help designing a territory strategy that gives each segment the attention it deserves? Succession.bio is here to assist. Drop us a line, and let’s chat about optimizing your pipeline so you’re never caught off-guard by slow approvals, sudden funding, or rapid pivots.

Until next time,Write in here

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