by Dr. Dov Reichman, Spectra Analytics Ltd.
Determining a company's value is not an exact science, especially when it comes to start-up companies, which symbolize technological innovativeness and which their survivability is hard to asses before their business realization.
There are many factors which come into consideration when attempting to determine a company's value. Many of those elements aren't quantitative and are affected to an extent by the company's image and market positioning – in other words, by how the company is perceived in the eyes of investors, analysts, international Pharma companies, potential customers, opinion leaders and others.
Success of clinical trials has a direct effect on the value of Bio-Tech and Bio-Med companies. However, when there are only partially successful results, a suitable measure of imaging can improve the situation.
In addition, the company's management must handle issues of intellectual property and regulations successfully due to their influence on company's future value.
Throughout the sphere of the direct and indirect data which determine a company's value, the company's management has a high ability to influence its positioning in the targeted market by means of PR and marketing.
The Leading Team's Strength
Characteristics of the executives' and especially of the CEO's personality, experience and expertise have a substantial effect on start-up companies' chances of business success. Many investors attribute these characteristics much more weight than other important factors, such as the company's technological innovativeness or market potential.
There is a significant importance to the integrity, charisma and determination projected by the start-up's CEO. Unlike existing companies, which hold many quantitative tools in which a CEO's contribution to the company's activities can be measured, start-up companies require an ability of predicting the CEO's chances of completing the start-up's challenging journey successfully. Therefore, a CEO's personal character has an immense influence on a venture's chances of success.
Besides the CEO, there is a need for a specialized team, namely a medical director with stature, in Biomed and Pharma companies, who will project from his experience and expertise on the projects chances for success. The business environment finds it easier to assess the medical director's analysis than the relevant technology. Regulation, marketing and finance are important factors in assessing a project's chances of success as well.
The strength of the leading team is not a business image issue. It is the driving force that will enable the company to reach its goal.
Formulating the Company's Business Image
With the absence of solid information, the business environment looks for indications which will successfully predict the new project's chances of success. The company's management must make sure that all signs projected out of the company reflect expertise, organizational order, determination, and creativity – or in other words – a company's business image, has to be impeccable. A lot of work and effort has to be invested in order to make sure those different faults or weaknesses aren't exposed out of the company, in order to keep the company's image clean as a whistle.
The company's stationary, business plans and presentations indicate substantially as to the company's level of quality. Therefore, these basic tools must be under the supervision of meticulous professionals. A company must avoid the situation in which a small faction of the company does most of the work. This situation can also damage the company's image.
Marketing Tools for Building a Business Image
Producing a high quality business image video doesn't require a high scaled budget, yet it does require an understanding in preparing this kind of video and in conveying the suiting marketing themes. It's advisable to convey only the few most important marketing themes which are geared towards creating a prestigious company image.
A company's participation and presentations in exhibitions can be modest, however project prestige and expertise, in condition that experts accompany the preparations and the implementation of these activities. Exposing a company in international professional conferences and exhibitions influences its international image as well.
Correct planning of building a company's value and combining the necessary processes regarding budgets and business plans, will lead to substantially high results in this field, parallel to the company's technological development.
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Dr. Dov Reichman, is the CEO and owner of Spectra Analytics Ltd. which specializes in strategic planning for high tech
companies and accompanies business throughout processes of business development and international marketing
