ASTP training course “Advanced marketing & dealmaking” 26 – 28 January 2011, Leuven Course team: Henric Rhedin, course director (Chalmers industrial technologies, Sweden) Jeff Skinner (London business school, UK), Dominic De Groote (Ghent university, Belgium), Maria Tavares (Andalusian Public Foundation for Health Research Management, Spain)
Wednesday 26 January Marketing Strategies 8.45 – 9.00 Course intro
Henric Rhedin, Division manager, Chalmers Industrial Technologies, Sweden 9.00 – 10.30 Developing a pre-marketing technology
Jeff Skinner, Executive Director, Institute of Innovation & Entrepreneurship, London Business School, United Kingdom What does it mean to develop a strategy for the exploitation of a technology? What are the components of a commercialization „strategy‟ – what are the key decisions that have to be taken? What should be first, the market or the application ? How do we assess value ? To what extent can you decide your strategy up front and how much emerges over time as you experiment and gather information. In this session you will be presented with a number of new technologies for which a marketing approach has to be decided. Through interaction, a common decision framework will be outlined for determining how technologies can be developed and prepared for the market.
Thursday 27 January Negotiation 8.30 - 9.15 Negotiating a deal: what‟s your problem? Jeff Skinner
Discussion & ‘Split the chocolate’ Ice Breaker
Friday 28 January Mechanisms & Fine tuning 8.30 – 9.15 Best Practices in Technology Marketing Dominic De Groote, business developer, Ghent University, Belgium
Having found a commercial partner to work with, you then need to negotiate terms. In this session we explore what we find variously difficult, uncomfortable and problematic about the negotiation process. The session forms the pre-amble to a day devoted to negotiation practice – a self-confessed skill deficit common to most TT managers. What are the most common problems and causes of failed negotiations and what tools and insights can we use to improve?
We live in a competitive world where new technologies are abundant. It is very rare that companies come knocking on your door to acquire one of the technologies in your portfolio. So, how to “advertise” your technology? Should you post it on a website and if so which ones are effective? Or should you rather take part in speed-dating events? What about organizing your own network events as a way to find partners?
9.15 – 10.15 How important is it to prepare for negotiation? (Case study I)
9.15 – 10.30 Capturing the essence of an agreement Mark Anderson, solicitor, Anderson & Company, United Kingdom Jeff Skinner, Executive Director, IIE, London Business School, United Kingdom
Maria Tavares & Jeff Skinner
A successful negotiator ends up with more of the „pie‟ than they should (given the relative power & inputs of each party). How much effort do we put into calculating what we need, want or „get away with‟ at the negotiation table Can we make it up as we go along? We have plenty of excuses - we are often overwhelmed with work, or researchers show up with a company partner with no notice. Or perhaps you think are the best with persuasive techniques and you´ll negotiate just as well with no preparation, no matter what the subject is about.
In this session, we will invite you to share your own experiences so that we can identify which are successful strategies and which ones are not.
Once verbal agreement has been reached on a deal the final terms need to be written down and turned into a legal agreement. You may not write that agreement but it is your responsibility to make sure that the terms are clear and workable. In this session we attempt to disentangle an agreement negotiated by an academic turning a vague 'wish list' into a clear memorandum of understanding.
Let‟s explore using a simple „distributive‟ case study, preparing and negotiating in pairs. Did preparation result in you reaching a better deal? 10.30 – 11.00 COFFEE BREAK
10.15 – 10.45 COFFEE BREAK
Break 10.30 – 11.00 COFFEE BREAK
11.00 – 12.30 Good opportunities, bad opportunities Dominic De Groote, business developer, Ghent University, Belgium Henric Rhedin No matter how good a technology, if the target market is dormant or the industry is stale it's unlikely you'll secure interest or investment. Many spend years promoting a great technology that has little hope. How can we tell where to focus our energies and when to give up? In this session we use a case study (handed out) of a novel technology to develop a powerful framework for assessing the value of any new technological opportunity.
10.30 - 11.00 From „bargaining‟ to „value creation‟
11.00 – 12.30 Presentation of case studies per working
„Owning the Orange‟ exercise.
“Value” may refer to the cost of development of a certain technology. “Value” may be what you think a technology is worth. “Value” may represent what the company is willing to pay for. May your negotiation skills affect any of these values? An effective negotiator should not only be able to assertively address its own interests as well as understand the other side´s interests – indeed, this may be the only way of reaching any resolution.
In this final session, groups present their problem/opportunity case to each other and a panel of experts. We use this as an opportunity to critique their conclusions and as a way of drawing more general learning points from specific cases.
We introduce a framework for conducting any negotiation, using a simple exercise to illustrate. 11:00 – 12:30 Value Creation in stressful situations
(Case Study II)
Maria Tavares & Jeff Skinner Stressful environments, too many parties with too many different interests and difficult conversations are some of the aspects that can further affect the outcome of a negotiation – your mind frezes or you feel „bullied‟. How you behave and the tactics you use to deal with such situations are also important issues to be considered. Participants will be divided in groups of 4 and face and a case of value creation in a scenario where the other side(s) seem to have all the power and are prepared to use it. 12.30 – 13.30 Lunch
12.30 – 13.30 Lunch
13.30 – 14.30 Value proposition identification Henric Rhedin Session includes introduction and short case. One crucial ingredient in marketing is to display the aspect that the customer values not what the inventor believes is valuable. The identification of the value proposition is depending on a large number of factors such as market structure, IPR position, team, customer etc. In this case study we will explore what makes a compelling value proposition and how we identify this proposition as quickly as possible.
13:30- 17:30 Multi-party negotiations: so you think you
can negotiate …
When multiple parties and interests meet, dealmaking can become complex and fuzzy. At that point, strategic negotiation skills can offer a solution to the problem. During this 3-hour case study, you will be emerged in a multi-party negotiation situation where you will find two different universities entangled in a dealmaking process with a spin-out and a multi-national company. It will be your job to use all your negotiation skills to get to a sustainable deal for the party you have taken on responsibility. In multiple rounds, you will have to get an insight into the different positions and grasp opportunities to create value for your organisation.
12.30 - 13.30 Sandwich lunch 13.30 COURSE ENDS
14.30 – 15.00 Pitching opportunities Course team We are often invited to pitch our ideas in meetings and other forums. Often we have very little time to get over the essence of the opportunity – and even when we‟re given enough time those opening few sentences are all that matters in terms of making an impression.
Introduction to case study (13:30-13:45h) Role Play – 13:45-17:15h) Feedback & Conclusions (17:15-17:45h)
In this exercise we discuss the importance of first impressions and set out the elements of a good initial pitch. 15.00 – 15.30 COFFEE BREAK 15.30 – 17.30 The sales process Jeff Skinner Many of us (and many academics) find it hard to 'sell' to potential partners. We like to talk - often far too much about what we have but don't have strategies for 'advancing' the dialogue towards a deal - often getting stuck in a fruitless cycle of information exchange. However, successful (sales) conversations have a pattern that is intuitive, easily-learned and not at all 'pushy'. In this session we learn, and practice, how to structure such conversations
17.30 – 18.15 Group team exercise Maria Tavares, Seville coordinator TTO, Andalusian Public Foundation for Health Research Management, Spain Henric Rhedin Before coming to the course, each participant will be asked to prepare a problem/opportunity case from their own portfolio – and where effective marketing/deal would make all the difference. In this session each participant takes time to describe their specific opportunity and issue – and the group brainstorms solutions. 19.00 Course dinner
17.30 – into the evening: Group team exercise Continue with individual cases; decide which case to take on This session is a continuation of the one the previous evening – but now focusing on just one of the cases in much greater depth. This is very much a problem-solving session, thinking through the fundamental issues and developing a pragmatic way forward Each group is asked to prepare a short presentation in which they outline the opportunity, the issue and their solution.