Research a biotechnology consultant thoroughly

Ask for and call on all the referrals given to you by your potential biotech consultants. Since this is such a new and growing industry segment, you'll want to make sure you are bringing in top professionals since it is your business on the line.

I recommend: Bio Smart Brief is an online newsletter that covers biotech consulting companies and can offer tips when looking to hire a biotech consultant. Check the credentials of a prospective biotech consultant at MacRae's Blue Book.

Use a short-term biotechnology consulting contract to create a template for your project

Bring in the biotech experts to write the basic terms and conditions of your project before turning it over to staff or funding the project. Save possible time and money on proposals that may not work after all.

I recommend: Hire a firm such as Biotechnology Business Consultants who specialize in project planning and development. Big outfits such as Frost and Sullivan can even come in and offer preliminary research to let you know if you should even go in the projected direction you are considering.

Turn the biotech specialists into in-house employees

While many biotechnology specialists prefer to move from company to company to work on a limited basis and get a variety of projects under their belts, many other biotechnology consultants are looking for permanence with a solid company that has room for growth. consider adding a biotech expert to your payroll so that you don't have to deal with the issues associated with outsourcing.

I recommend: Vault offer job descriptions and current salary ranges for in-house biotech experts. And the Sci Web Biotechnology Career Center has an enormous database of professionals seeking permanent placement.