Picking the Right Research Partner: It's Not Just About Brains
So, you've decided to dive into some research. Great! But before you start throwing money at lab coats, let's talk about how to pick a researcher who won't just burn through your budget without results.
Here's the deal - most companies pick researchers like they're ordering takeout… whoever's closest and fastest. But that's a recipe for disappointment. Remember, these folks climbed the academic ladder on pure brain power, not usually on project management and customer service skills. So how do you find a unicorn who can both science and deliver?
Look for these traits:
Coachable: Can they take feedback without getting defensive? If they're nodding along but not changing anything, run.
Knowledge Hungry: Ask what's got them excited in the field lately. If they start gushing about a paper from 2010, that's a red flag.
Aligned Goals: Some researchers treat your project like their personal sandbox. Make sure they're cool with your IP terms and won't go rogue.
Location (Maybe): Only care about this if you need to ship samples or have execs who want to poke around the lab. Otherwise, cast a wider net.
Set Targets (Because Researchers Won't)
Here's a shocker: Researchers aren't great at defining success metrics. That's on you. Do this:
Partner with both lab coats AND business school types. Don’t let academic silos limit your knowledge gain.
Literature review + economic model = Your roadmap to new knowledge with a cost:benefit direction.
All models are wrong, but high-level economic models unlock ranking of the of the research priorities based on $$$ impact. Use sensitivity analysis to predict what range of technical attributes guide the health of the research.
Scope That Actually Matters
Your research should solve real problems, not just look cool in a PowerPoint. Make sure you:
Define success in hard numbers
Set clear tech readiness goals (TRLs, baby!)
Get customer input (internal counts too)
Model the financials (yes, even for early-stage stuff)
Do a post-mortem, even if things go sideways
Can You Actually Finish This Thing?
Before you sign anything, ask yourself: "Can we fund this all the way through?" Because half-finished research is about as useful as half a parachute.
Map out the full knowledge gap, and how many bites you might need to eat the whole thing. If at any stage you can’t, it sounds like a money pit.
Consider co-investors (but don’t lose sight of your goals).
Look for non-dilutive grants.
Remember: Funding should be YOUR strategy, not something the researcher leads.
Free Stuff Alert! Want to nail down your research goals? Grab our free Research Learning Targets Template at this link here.
Next week: We'll dive into how to protect your interests in contract terms.