Every biotech CEO should read The Psychology of Intelligence Analysis by Richards Heuer.
Because biotech is like international politics. There are so many players and each player has their own agenda for their own reasons. Investors, pharma, regulators, Wall Street, policymakers…
The biggest mistake that a biotech CEO can make is to take things personally.
But, the reality is that no one is doing anything here because they want to harm you, your company, or your vision.
People, governments, and biotech actors are doing the things that serve their own interests.
If Country A does x—and x happens to affect Country B—doesn’t mean that Country B did x to harm Country B.
Country B did x because x simply serves Country B!
Or we should better say… Country B did x because Country B *thought* that x would serve Country B best! (Sometimes we overestimate the other player’s rationality…)
These are the so-called cause-and-effect cognitive bias explored extensively in this book.
So, everyone has their own agenda as you have yours.
Take nothing personally.
Listen carefully to understand their deeper motivations.
Help them see your point of view and how their actions might unintentionally be affecting the well-being of your company.
This is what we call effective communication or constructive dialogue.
To me, the paragraph below applies to intelligence analysis as much as to biotech fundraising, team communication, Pharma partnerships, FDA conversations…. and everything biotech!
Loving you, Angelos.
ps: This book was part of my reading assignment when I served in the military. It is one of my all-time favorites.