Each month, we spotlight one of our experienced advisors. This month we are hearing from Dominic, a healthcare focused advisor. Given the current COVID19 crisis and the global focus on the healthcare sector Dominic is well placed to support and offer advice to healthcare businesses looking to seize opportunities during this time. Dominic runs New Mosaic Ventures and is an angel investor in 18+ seed stage businesses. He is also a consultant to pharmaceutical and biotechs in business intelligence, product and project development, and marketing.
How do you help ambitious businesses?
I ideally work with business over the medium to longer term on the commercial and business side. Helping the team develop the company in areas like strategy, business planning, identifying and planning a route to market, finding appropriate partnerships and gaining additional investment. Also some specific projects like grant applications and finding additional team members.
What is your background & experience that enables you to do so and be the
expert in the field?
In both my previous permanent roles, and since I went freelance 15 years ago, I have worked with a significant number of companies of all sizes. Large international business, medium sized, down to start-ups and early stage. My work has covered many of the commercial areas including business planning, marketing, driving multi-stakeholder projects, business insights and senior client service. Many projects and roles have involved working with several functions simultaneously, including technical and scientific teams, and combining this with the requirements of the commercial teams.
What are some of the success stories you’ve had or outcomes you’ve
achieved with the businesses you’ve worked with?
Large and small businesses that I have worked with have gained significantly from the projects I have led or contributed to. These gains have included new product launches that have seen high growth rates, closer and effective working between different country operations, much more effective use of budget, changing culture to become increasingly external focused and helping companies to be ready for partnerships and investment.
What types of businesses do you work with?
Healthcare, including biotech, pharmaceutical, medical device and B2B digital health. I am also increasingly looking at social impact business, including green agriculture, green energy and pollution control. These range from start-up to large companies.
What are the things you look for in a business that makes you decide to
work with them or not?
The essential things are chemistry with the team, and a good fit of skills and experience. My skills and experience must match what the company need, and we need to work well together. An additional need is for the product or service to be exciting and ultimately meet a need.
Dominic's key observations are ensuring businesses manage both risk and opportunity at this crisis time.
What are your thoughts on where the UK ecosystem is at the moment?
There are huge uncertainties currently, stating the obvious with COVID19 but alongside it things like Brexit, trade wars and climate change. The wheel is very much still in spin, so we don’t know what the ultimate outcome will be. Managing risk and opportunity is essential. The very exciting aspect, though, is that many difficulties also present real opportunity to develop business that not only achieves growth and earns significant revenue, but that answers many of these problems. I believe impact business will see massive growth.
What are some of the common trends you see amongst the ambitious
businesses you support?
A good team that works well together and knows when and who to recruit to meet skills gaps in the company. On the product or service side, it needs to be a big idea – something that can be scaled to meet a clear need in a large market, with a business model that makes sense.
What gets you up & motivates you in the morning?
Being able to work with many clients and on many projects in the courses of a working week! I find novelty and diversity hugely exciting!
Favourite pastime or hobby?
Exploring the food and cultural scene of London or whatever place I am in. Theatres, art galleries, restaurants, but also just discovering new areas. This combined with some time in the gym each week!