11 Books Every MSL Should Read to Improve Their Business Acumen
11 Books Every MSL Should Read to Improve Their Business Acumen
What sets apart average MSLs from spectacular MSLs? It has nothing to do with reading journal articles or understanding deeply complex scientific topics (that is just expected!). Truly spectacular MSLs have a deep understanding of how businesses operate and are capable of making decisions that help their company meet its goals. In other words, they have business acumen.
Learning how businesses operate is not covered in most PhD and MD programs. Many MSLs struggle with this when they ‘get a real job’ and many Medical Affairs leaders are frustrated by the lack of business skills. There is good news though! Learning how a business operates is not hard. Especially for smart people like MSLs. With time and effort, any MSL can develop a deeper understanding of the business world and take their careers to the next level.
One way to achieve this is by reading business books. We partnered up to create this list of 11 business books every MSL should read to improve their business skills.
Successful MSLs are able to communicate effectively to all stakeholders. This book explains 4 different types of people and how to best communicate with each type. According to Maaike Addicks, an expert in training MSL teams on business acumen, Surrounded by Idiots will also help MSLs understand the pitfalls and opportunities of their own communication style. An added bonus is that it will likely help with communicating in daily life, such as when negotiating chores or where to get dinner with your significant other.
Business skilled learned: Effective communication
2. Give and Take, Why Helping Others Drives Our Success by Adam Grant
Robert Groebel, VP of Global Medical Strategy says, “When I think about the speed of change facing our industry, it reinforces the critical role field medical plays in building long term trust with experts globally. In today’s complex world this requires a mind-set and skills anchored to a mission of “shared goals”. Recognizing the importance of fostering successful relationships means teams must be adept at identifying needs and consistently delivering value. In his book, Give and Take, Why Helping Others Drives Our Success, Adam Grant explores how individuals who strive to deliver on a shared mission, rapidly reinforce their reputation and expand their connected network.”
Business skilled learned: Delivering value
3. The Tyranny of Metrics by Jerry Muller
This recommendation by Chad Fellers, Regional MSL director, is for MSLs that someday want to lead an MSL team. The Tyranny of Metrics highlights that if carefully selected and used appropriately, metrics can be a tool to help understand certain aspects of performance. However, metrics often measure the most easily measurable, meaning quantity becomes a focal point rather than quality. While both are valuable, MSLs have the opportunity to capture quality scientific insights that can provide significant impact on the business. This is an important topic to be knowledgeable in and this book offers compelling ways to reconsider the use of metrics.
Business skill learned: Leadership
4. How to Win Friends and Influence People by Dale Carnegie
Bowdoin Su, MD, Medical Director
“The business book that I think would be essential for MSLs to read is Dale Carnegie’s How to Win Friends and Influence People. Establishing and building relationships with Key Opinion Leaders is a major facet of the job for medical science liaisons and Carnegie’s book provides a framework on how to accomplish this. The book is very easy to read and filled with plenty of stories and examples.
After reading this book, the reader’s soft skills in communication should improve. MSLs must communicate to healthcare providers running from 1:1 meetings to large group presentations and by maximizing positive impressions during these interactions will help support a new product launch by bringing positive attention to the disease state or product.”
Business skills learned: Communication and relationship building
5. The Subtle Art of Not Giving a F*ck by Mark Manson
This book helps you determine what is really important in life and not take things personally. Catherine Sunderlin, Sr MSL, said this book has helped her stay centered in her role as an MSL and focus on what matters. When she is feeling bogged down by administrative work she remembers that her work is contributing to helping cancer patients.
Business skill learned: Prioritization
6. To Sell is Human by Daniel Pink
In To Sell is Human, Daniel Pink says “Like it or not, we’re all in sales now”. This book suggests that everyone is in sales and that the image of a used car salesman is an archaic model that no longer exists today. Pink argues that selling is about moving people and this is a critical skill for everyone. Ralph Rewers, National MSL Director, says: “We all sell something, in the MSL world, mostly science but convincing people is selling.” This book is packed full of tips and tricks that MSLs can use in their everyday work lives.
Business skills learned: Communication and relationship building
7. The Millionaire Next Door by Thomas J. Stanley and William Danko
Research by the authors shows that people who are millionaires are not who you expect. The Millionaire Next Door identifies 7 common characteristics of people that build wealth and become millionaires. Samuel Dyer, CEO of the MSL Society states, “For someone who has just begun a high paying MSL career it will seem like financially winning the lottery for most new MSLs -understanding how to manage, spend and invest money is not something that is taught in doctoral programs.”
Business skill learned: Financial literacy
8. You’re Not Listening by Kate Murphy
There isn’t a role out there that relies on active listening more than the MSL role. Listening for understanding and to uncover “the why” behind HCPs’ perceptions is critical to gathering actionable insights. However, it is challenging to stay focused and not think about what you will say next. Active listening is not natural for most and requires practice. You’re Not Listening has several practical tips to help MSLs sharpen their listening skills to help determine what’s really important to HCPs and build trust. The advice around it being ok not having the perfect response ready resonated with us. “We always think we need to have a great response ready when really it’s better to listen, absorb, and then think of what you would like to say. It shows you are really listening!”
Business skill learned: Active listening
9. Tell Your Clients Where to Go by Todd Sebastian
Matt Lewis, Global Chief Data and Analytics Officer and former MSL, writes: “Written for the agency professional, Tell Your Clients Where To Go offers valuable lessons for the agency lead or medical affairs professional alike, both of whom seek to adopt a client-centered mindset to their interactions with key stakeholders. It encourages leaders to be passionate, proactive and to partner with their clients. In the case of field medical affairs, this book offers a way to help leverage that passion, for the therapeutic space, for the company, and for the partnership to create value. It teaches readers to anticipate needs and exceed expectations of individuals and how to live a professional life where elevating the relationship between “clients” and their partners results in a great outcome for all parties. Published in the ‘00s, the material is far from dated; it feels as relevant today as when it was written.”
Business skill learned: Customer focus
10. Dare to Lead by Brene Brown
Marlies Ozias, Sr. MSL: “I think Dare to Lead is a great book because sometimes we are too reductive on what we define as leadership = the person in charge. It can be hard for a new MSL to feel like a leader surrounded by many teammates with experience. But I think the ability to lead in your territory is quite key to getting your career off on the right foot. Also, while you may not be a leader of a project for the first 6-12 months, you can still exert team skills and leader-like qualities (plus correcting your own bad habits) will make the leader and your manager really happy! And to exhibit this self-awareness in the interview process is a great quality managers are looking for.”
Business skill learned: Leadership
11. Atomic Habits by James Clear
Sonali Pandhe, MSL, writes, “Atomic Habits is a great book for many reasons for MSLs and anyone in general. This book has taught me how to build small habits that can have a tremendous impact on my role as an MSL. For example, a habit of sending thank you and/or follow-up email after KOL meetings within 24-48 hrs with requested information can have a great positive impact on the relationship between MSL and KOL. This will also help in developing a credibility as an individual as well as a company. During our lives as medical affairs professionals we sometimes forget to prioritize our health. This book has personally helped me in developing healthy habits and finding a perfect balance between personal and professional life. The guiding principles in this book will be helpful in developing any new habit and eliminating any old/bad habit.”
Business skill learned: Time management
Conclusion
Every MSL should work to be masters at their trade. This means a mindset of continuous improvement. Reading business books can help MSLs develop business acumen, become better MSLs, and add more value to HCPs.
Have a book recommendation you’d like to share? Get in touch!