As businesses kick off 2023 we all look towards the future, excited about what’s to come, thinking about what’s gone before, and how best to use those lessons learned towards future prosperity.
Networks are the future, and LifeSciHub is a nascent “Monetized Network”. To our knowledge no one has created a business quite like this just yet. Through your support, you are venturing into unknown, transformative business innovation territory- how incredibly exciting! To that end this newsletter is an update on all things LifeSciHub both 2022 and 2023.
2022- Some Highlights
- Great projects in regulatory, biometrics, quality, clinical operations, pharmacovigilance, AI and other life sciences IT- thank you drug sponsor Hiring Entities!
- A lot of great software development- such as the NPS Score feature, a unique, simple and brilliant tool for strategic use and engagement of the small independent workforce.
- LifeSciHub also worked very, very hard at back end automation. Using a classic Agile approach, we are picking away at how best to create automated relationships between Quickbooks and WordPress, to allow time tracking, invoicing, budgeting, and other financial data points to flow seamlessly across data objects in each system. The aim is to increase quality by reducing manual human tasks, and position for scale. Perhaps even make this automation available for other small businesses to utilize via white label!
- LifeSciHub participation in Small Business Workforce Advocacy
- The end of a partnership. LifeSciHub Founder and Current Administrator, Sheila Mahoney: “At first this felt bad, then I realized it was the best thing that could have happened.”*
- An 8 month experiment with Large Pharma contracting. Sheila, again: “think Alice when she first falls into Wonderland.”*
*content coming soon to LifeSciHub.com/info
2023- A look ahead:
- LifeSciHub’s priority is to obtain more Master Services Agreements with Hiring Entities, so we can increase business development opportunities for our members. We need help establishing MSAs! Just a reminder that if you help LifeSciHub establish an MSA with a drug sponsor client of yours:
- You will earn 5% of all LifeSciHub revenue generated by that client, always.
- Noncompete guarantee- your own SME “brand” will be intact- LifeSciHub will not compete with your expertise, only allow you to earn revenue outside of your brand at that client, without having to become a full service consulting firm/CRO yourself!
- Help other small business get work at drug sponsors they’d normally not be able to (and other small business will help you with the same thing!)
- LifeSciHub has yet to find a downside of this radical approach to a “Monetized Network”. Interested?
- A mobile ap for the Time Tracker? Possibly! softdev parlance: “Roadmap”
- Software development will continue to focus on back end automation and other core features. Suggestions? Please let us know!
- Perhaps revisit the LifeSciHub “Mini-Marketplace” again: a list of verified small business service providers that other LifeSciHub Community members use and endorse. For example, I highly recommend anyone billing over $80K/year talk to Formations- an accounting firm totally focused on independent small businesses. A LifeSciHub Community member billed $300K in 2021 and, thanks to Formations, paid an effective tax rate of 8.6%. Now THAT is a benefit of being a business owner we should all enjoy!
- Do you have a service provider you’d recommend to other small business owners? Please let LifeSciHub know. There is no cost to you or anyone else for this, simply another benefit of belonging to a community of small businesses.
- LifeSciHub’s Radically Transparent Annual Report y2022– join us on April 26, 2023
A sincere thank you to all LifeSciHub Hiring Entity and Expert Provider Users and Community Members, and interested parties who continue to contribute towards LifeSciHub’s success and evolution.
The future awaits! Meantime, keep crushin’!
-Sheila Mahoney, Current LifeSciHub Administrator