The pharmaceutical and life science sector is an industry that thrives on innovation, research, and development.
However, for a significant number of years, the industry’s customer-facing practices have been stagnating, with many commercial and medical teams still interacting with customers the way they did 5-10 years ago and probably still using the same skills they were trained on originally! These skills are essential, sure, but they have failed (and will continue to fail) to keep up with the rapidly changing environment, demands and needs of your customers.
The real opportunity if you want success in 2024 is to switch YOUR thinking and focus on developing the mindsets and behaviours of your people.
There are three mindsets to success: Customer Fascination, Outcomes Obsession and Infinite Mindset.
We can’t cover all the mindsets in this blog, so we’re going to focus on ‘infinite mindset’, also known as a ‘growth mindset’, so we’ll use that for now.
So let’s start by answering a few questions:
What is a Growth Mindset?
A growth mindset is a concept developed by psychologist Carol Dweck in her research on achievement and success.
According to Dweck, people can have both “fixed” and “growth” mindsets, often both at the same time!
“In a fixed mindset, people believe their basic qualities, like their intelligence or talent, are simply fixed traits. They spend their time documenting their intelligence or talent instead of developing them. They also believe that talent alone creates success—without effort.” (Dweck, 2015)
“In a growth mindset, people believe that their most basic abilities can be developed through dedication and hard work—brains and talent are just the starting point. This view creates a love of learning and a resilience that is essential for great accomplishment.” (Dweck, 2015)
While you may have fixed mindsets in some areas (for example: your mindset may be fixed when it comes to your ability to walk on water – no amount of convincing will change your mindset here!), in others (such as in our careers) you can, and should, operate with a growth mindset.
We felt ‘growth mindset’ was a great term and wanted to build on this, by stretching people's thinking and behaviours even further, to get them the success they deserved. This is why we’ve called this an ‘infinite mindset’.
So developing an infinite mindset will bring you the success you're looking for in 2024, here's why:
The Power & Benefits of Developing an Infinite Mindset
People who continually develop and focus on having an infinite mindset enjoy a wide variety of benefits, both in and outside of work.
If your customer-facing teams develop an infinite mindset, they’ll be better able to:
Be resiliently buoyant
Sometimes, things go wrong, and that’s okay!
For many people, failure can be disheartening, but for those with an infinite mindset, it’s an opportunity.
Setbacks are common in the pharmaceutical and life science sector. Being resiliently buoyant allows individuals, teams and organisations to bounce back from failures.
Learning from failure is the best way for us to improve – identify what went wrong and adjust your approach to suit.
Develop clarity of purpose
People who understand their purpose ultimately achieve their goals.
Those with an infinite mindset understand what they’re about, what drives them and what’s important to both their success and the success of their business.
By knowing your purpose and aligning it with your organisation’s goals, you’re able to drive better customer interactions and outcomes. Being open with others about your purpose provides an opportunity for you to achieve greater things.
Be consumed by consequence
Those with an infinite mindset accept the consequences of their actions.
While input metrics and being busy are often seen as important factors and help you to stay visible in your organisation, the reality is that the achievement of goals and objectives is the critical measure.
People who are consumed by consequence will set goals, build clear, detailed plans, and hold themselves accountable for achieving them.
How can you build infinite mindsets in your team?
It can be very difficult fostering infinite mindsets in your people, especially if they’re set in their ways.
While there are no shortcuts, and building infinite mindsets takes time, there is something you can do to help accelerate your understanding and how to develop the mindset for success in 2024: the Entrepreneurial Edge Evaluation (E3).
The E3 system helps you to identify the mindsets that already exist in your people on an individual, team and organisational level. Once identified, you’ll have a better understanding of where your mindset gaps are and how to develop them, but you’ll also realise that some people will not make it!
By helping your customer-facing teams (commercial or medical) develop the right mindsets, then the behaviours will follow, along with the success you deserve in 2024.
It’s time to challenge your infinite mindset now. You have three options:
-
Book a demo where we’ll run you through the E3 system and what you should expect.
-
Book a trial where you can test-run the E3 system, for up to 12 people, perfect!
-
Do nothing, and continue doing what you’ve always done and expect different results in 2024 (as you might expect, we don’t recommend this!).
If you’ve got any questions, don’t hesitate to get in touch with the Future CX team of specialists. We’re on hand to answer any questions you might have, and to help guide you on the way to developing stronger entrepreneurial mindsets throughout your organisation.