In large companies, a setback means moving to the next project. In a startup, a setback forces a leader to fundamentally re-evaluate the company's mission and survival. The critical difference in leadership is not just resource management but the ability to navigate these existential pivots successfully.
While wins are motivating, Will Kane notes that setbacks can be "similarly uniting." A shared negative experience, when the team knows they gave their all, creates a powerful common bond. Effective leaders can leverage this dynamic to build resilience and strengthen team cohesion in the face of failure.
A career development exercise from Pfizer, "Me, Inc.," advises leaders to formally map out their own personal "board of directors." This involves identifying specific individuals who can provide perspective and advice on business challenges and career navigation, creating a structured support system.
Using a fortune cookie aphorism, "You can't control the waves, but you can learn to surf," CEO Will Kane explains his leadership philosophy. In a volatile industry, instead of trying to control external events, effective leaders build their team’s adaptability and skills to navigate the inevitable chaos.
Uniquity Bio, a 35-person firm, runs three Phase 2 trials concurrently—a resource-intensive strategy. This is possible because substantial private funding (from Blackstone) allows them to focus on clinical advancement rather than constant fundraising, de-risking an aggressive, multi-pronged approach.
CEO Will Kane recounts how former President Jimmy Carter told Pfizer employees that every job, from CEO to the mailroom, is integral. This message of universal importance, coming from a respected outsider, can be more powerful for building a unified culture than similar messages from internal leadership.