Cylinder’s Post

“What I like to do in the moments of critical decisions is to expunge myself of any bias with respect to money that's been spent, and try to make a decision with fresh eyes." Benjamin Sexson, CFA, CEO of Monogram Technologies “Talking to the partners, members, and clients really helps me decide what's next. You’ve got to be out meeting with folks and getting feedback on an ongoing basis.” Bill Snyder, CEO of Cylinder “If the nurse doesn't like your product or the scrub tech doesn't like your product, your product isn't going to be used in the OR no matter how much the surgeon loves it.” Ahmed Zobi, EMBA, CEO of Syntr Health Technologies, Inc. Here's our next set of guests featured in the latest edition of Medsider Mentors, a book summarizing the best Medsider interviews from the past few months. These three #medtech entrepreneurs from our previous Medsider episodes have now returned as mentors, making an appearance in Volume VI, authored by our host Scott Nelson, who is also the CEO of FastWave Medical. Here are a few more takeaways from these featured interviews: 👓 Don't let past investments cloud your judgment about a project's present viability. Regularly reassess the viability of your idea based on current conditions, not past investment. 🌐 You have to know where your product or service fits in the overall healthcare ecosystem. That way you can connect the dots for your providers and consumers about the precise role you play in the benefits they receive.  🛣️ Focus on meeting FDA’s core requirements first. Don't get tied down trying to add extra features to early prototypes. Submit ASAP to pave the road to market. Available for premium members for free, check out the full edition of Medsider Mentors - Volume VI (link in comments) to learn from founders and CEOs of the hottest #medicaldevices and health technology startups in the world. For non-premium members, individual volumes can now be purchased separately.

"Interpretation is key in regulations, so we were tactical in defining the product to address user needs without making excessive claims in order to get the device to market quickly. We chose not to ask for too much too fast." (Cecile Brosset Dubois Brosset, CEO of Sonio) “Hospitals have many different priorities. You're trying to build champions, so your clinical sites require some salesmanship. They need to believe that what you're doing is interesting, worthwhile, and compelling." (Deanne McCarthy, CEO of Swiftsure Innovations) "Cutting corners will come back to haunt you. Prioritize decisions that add long-term value and consider which short-term choices take away future options from your company today or from the ultimate acquirer." (David Hochman, CEO of Orchestra BioMed) These three #medtech entrepreneurs were featured on previous Medsider episodes, and have now returned as mentors, making an appearance in Volume V of Medsider Mentors, authored by our host Scott Nelson, who is also the CEO of FastWave Medical. Here are a few more takeaways from these featured interviews: 🧗🏽Progress is iterative in both product development and team building. Aim for improvement without being paralyzed by the pursuit of perfection. 👓 It's perfectly okay not to know everything. Channel your curiosity across your venture to find the right resources for reaching milestones. 🍨When done right, risk-reward-sharing partnerships are great. Customize collaboration to align with your partner organization’s vision, capabilities, and goals. Available for premium members for free, check out the full edition of Medsider Mentors - Volume V here: https://lnkd.in/gzKSbQGN to learn from founders and CEOs of the hottest #medicaldevices and health technology startups in the world. For non-premium members, individual volumes can now be purchased separately.

“Everything we build should be self-explanatory. It's just like your phones, they make it so you pick it up, turn it on, and you don't have to have an IFU to teach you how to use it.” (Dr. Ananth Ravi, CEO of MOLLI Surgical) “If you haven't built a relationship over a long time and you have no traction and I haven't seen you progress, it's really hard for me to judge if this is something really differentiated.”  (Dr. Anish Kaushal, Healthcare investor Amplitude) “It's surprising how far you can get with nothing, and how little progress you can make with all the money in the world. Both things are true. It does take some creativity.” (Dr. Steven Mickelsen, CEO of Field Medical) Get a front-row seat to our entrepreneur roundtable as you read Medsider Mentors Volume VI, our latest book summarizing the best interviews from the previous several months. This edition includes highlights from interviews conducted by Scott Nelson, who is also the co-founder and CEO of FastWave Medical. Here are three more ideas from these interviews: 💉 Immerse yourself where your product will be used. Then build products that minimize risk, maximize patient benefit, have a fast learning curve, and are clinically effective. 🗺 Clearly define the gap, the solution, the regulatory process, and reimbursement. Show VCs that you're not improvising and that you have a clear roadmap with achievable milestones. 🦾 Scarcity can breed creativity, so use that to your advantage. Build prototypes with readily available parts and focus on nailing your narrative to convince investors. Available for premium members for free, check out the full edition of Medsider Mentors - Volume VI (link in comments) to learn from founders and CEOs of the hottest #medicaldevices and health technology startups in the world. For non-premium members, individual volumes can now be purchased separately.

"Whether we stumble or celebrate, we have a 10-second rule. It's ok to be upset if things don't go well. And when things are great, we celebrate. But come Monday morning, we're back at it.” (Gabriel Jones, CEO of Proprio) "The best employees are not the best individual contributors. They're those who bring out the best in everyone and make entire teams better. Some people just have that magic." (Kirsten Carroll, CEO of Kandu Health™) “Be shameless and ask more questions to get the evidence you need. This enabled us to be very capital-efficient in our transition from an academic spinoff to a clinical-stage company.” (Parag Gad, CEO of SpineX Inc. ) These three #medtech entrepreneurs were featured on previous Medsider episodes, and have now returned as mentors, making an appearance in the latest volume – Medsider Mentors Volume V, authored by our very own Scott Nelson, who is also the co-founder and CEO of FastWave Medical. Here are some additional key takeaways from these brilliant minds: 💪🏽 Anticipate delays, time it right, and understand investors' perspectives for securing crucial capital. Master the art of fundraising through resilience, strategic focus, and adaptability. 💡Innovation goes beyond invention. It’s about understanding the diverse needs of stakeholders, including end users, care partners, healthcare providers, and payers. 🔐 One way to legitimize your startup is to utilize FDA's Breakthrough Device Designation. Convert trust into a strategic asset, establishing credibility with investors and key stakeholders. Available for premium members for free, check out the full edition of Medsider Mentors - Volume V (link in comments) to learn from founders and CEOs of the hottest #medicaldevices and health technology startups in the world. For non-premium members, individual volumes can now be purchased separately.

“We live in a prove-it industry where you have to offer proof not only to the regulators but to your customers, or else they won't believe you.” (Dr. David Albert, Founder of AliveCor) "It's cheap and easy to come up with a prototype. It's all about proving the concept and getting to the next stage because you need a signal in the early phases to know if a project is worth pursuing." (Shyam Natarajan, CEO of Avenda Health) "I try to attend every Orange County medical device meeting, even after a tiring day. The one in 10 chance of making a crucial connection for funding makes networking a never-ending part of my job.” (Bill Colone, CEO of Single Pass) From past guests to mentors—these three #medtech experts are back at the roundtable in the latest release of Medsider Mentors Volume V which features interviews conducted by Scott Nelson, host of Medsider and CEO of FastWave Medical. Here are a few more thoughts from these skilled entrepreneurs: 🛒 The lines between #medicaldevices and consumer marketing are not as rigid as you might think. With the right expertise and a focus on branding, you can forge a new path that is both medically sound and consumer-friendly. 💰 Fundraising entails politics, strategy, and clinical insight. Avoid board overcrowding and decline offers that dilute your mission. It's a numbers game — expect numerous pitches before securing vital capital. 🚀 Optimize limited funds with the venture studio approach. Efficient outsourcing, strategic exit planning, and early profitability make it a compelling choice versus traditional venture models. Available for premium members for free, check out the full edition of Medsider Mentors - Volume V (link in comments) to learn from founders and CEOs of the hottest #medicaldevices and health technology startups in the world. For non-premium members, individual volumes can now be purchased separately.

Had the chance to sit down with Leon DeJournett, M.D., a pediatric ICU physician who’s also breaking new ground as a medtech entrepreneur with Ideal Medical Technologies. Leon’s story caught my attention when he pitched (and won!) at our MedTech Mavericks event back in June. Recently, I traveled to Asheville to dig deeper into his journey and explore how he might join our Advisory5 program. What stood out? His sheer persistence, deep focus on the impact for patients and caregivers, and his ability to turn years of ICU experience into life-changing tech. The insights I took away are worth sharing for anyone in medtech and health tech. Here are 7 gems from our conversation that left an impression: 1️⃣ 𝐅𝐨𝐜𝐮𝐬 𝐨𝐧 𝐮𝐧𝐦𝐞𝐭 𝐧𝐞𝐞𝐝𝐬 that affect all stakeholders—there must be a clear ROI. 2️⃣ 𝐏𝐚𝐭𝐢𝐞𝐧𝐜𝐞 𝐚𝐧𝐝 𝐥𝐞𝐚𝐫𝐧𝐢𝐧𝐠 are your best companions on this long road. 3️⃣ 𝐁𝐞 𝐫𝐞𝐚𝐝𝐲 𝐭𝐨 𝐦𝐚𝐤𝐞 𝐩𝐞𝐫𝐬𝐨𝐧𝐚𝐥 𝐬𝐚𝐜𝐫𝐢𝐟𝐢𝐜𝐞𝐬, including family time. 4️⃣ 𝐒𝐮𝐫𝐫𝐨𝐮𝐧𝐝 𝐲𝐨𝐮𝐫𝐬𝐞𝐥𝐟 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞 𝐫𝐢𝐠𝐡𝐭 𝐚𝐝𝐯𝐢𝐬𝐨𝐫𝐬. It’s a game changer. 5️⃣ 𝐌𝐨𝐧𝐞𝐲: Be realistic, strategic, and resourceful. 6️⃣ 𝐕𝐢𝐬𝐢𝐨𝐧 𝐢𝐬 𝐞𝐯𝐞𝐫𝐲𝐭𝐡𝐢𝐧𝐠. Keep it sharp and clear. 7️⃣ Adapt and stay optimistic—it’s essential for longevity. Excited to see where Leon’s journey goes next, and I’m proud we get to support innovators like him at Advisory5. #medtech #healthtech #entrepreneurship #innovation #mentorship

We recently published a series of Medsider playbooks, thematic round-ups that cover some of the key topics shared by top founders and CEOs who have joined our program. One of these, 'Mastering the Medtech Exit: The Truth From Those Who’ve Done It', features some renowned folks you’ve probably heard of: ➡ Bruce S., former CEO of Vesper Medical, Inc. ➡ Scott Wolf, MD, founder of Aerin Medical,  ➡ Michael P. Wallace, former CEO of Devoro Medical ➡ Garheng Kong, founder of HealthQuest Capital ➡ Bob Paulson, CEO of Sonex Health. Here are some of the key learnings included in this playbook:   🌅 Engage with FDA pronto! Initiate the Q-sub process early to understand clinical requirements for your next milestone. 😊 Defining clinical endpoints is not just about FDA clearance. Think patient and physician satisfaction too! 🏆Budding entrepreneurs should start with short-duration projects. Tackle 510(k) devices before graduating to PMAs. 👥 Stick to two or three syndicate investors for a harmonious investment journey. 🌟 Ensure you include those who've "been there, done that" on your team for a startup that others can't resist acquiring! Click on the link to explore this playbook: https://lnkd.in/gWPhEWWM

🚀💡 Launching a new medical product? Look no further than the insights from David Spinks' The Business of Belonging to connect with clinician customers and build a thriving community around your innovation. In his book, Spinks delves into the power of community and how it can drive business success. For medical startups, this means creating a sense of belonging and engagement among clinician customers right from the start. Here are some key takeaways to help you launch your product effectively: Understand Your Audience: Get to know the specific needs, challenges, and values of clinicians. Tailor your messaging to resonate with their daily experiences and aspirations. Foster Engagement: Build a community platform where clinicians can share insights, ask questions, and support each other. This creates a loyal user base and encourages word-of-mouth referrals. Provide Value: Offer educational content, webinars, and resources that help clinicians stay ahead in their field. Demonstrating your product's value in enhancing their practice will drive adoption. Leverage Feedback: Actively seek and incorporate feedback from your clinician community. This not only improves your product but also shows that you value their input, strengthening their trust and loyalty. At Notorum, we're experts in leveraging these principles to help medical startups launch successfully. Our platform enables seamless communication, engagement, and feedback collection, ensuring your product resonates with clinician customers from day one. Ready to create a community of belonging around your medical innovation? Let's make it happen with Notorum! 🌟 #MedicalStartups #ProductLaunch #CommunityBuilding #DavidSpinks #TheBusinessOfBelonging #Notorum #HealthcareInnovation #ClinicianEngagement

I wish more healthtech founders read 𝐓𝐡𝐞 𝐌𝐨𝐦 𝐓𝐞𝐬𝐭. Particularly before they start speaking to #healthcare professionals to determine whether their idea is good or not. Because of Adopt-A-Doc, I listen to pitches about #healthtech ideas a lot. and I mean, A LOT. There are many times where you get the impression that: 🙉 The founders are less keen to hear about reality as it really is, 🐵 And more wanting to hear validation for their idea - whether if it is true or not. 👩👧 In short, The Mom Test exerts that you should: 1. Talk about their (your customers) life instead of your idea. 2. Ask about specifics in the past instead of generics or opinions about the future. 3. Talk less and listen more. And look, I get it. If you are a #founder that has made the scary jump into entreprenuership to build a healthtech product - hearing negative feedback or critical stabs into your idea is a terrifying prospect. Having done this so many times, I believe firmly that it is so much better to give real feedback or insights into the CURRENT REALITY of why and how we do things as clinicians + how healthcare is delivered. 🔺 Because, a well intentioned compliment or false positive signal can send a founder down a path of building the wrong thing and wasting a lot of money. 🔺 It is simply irresponsible to do so. Having said that, the onus is still on founders to ask the right questions and not shy away from difficult ones during the ideation process. The primary function of an early stage #startup is to LEARN after all. Building comes AFTER obtaining objective and unbiased signals from your customers. Rob Fitzpatrick has done an amazing job with this book. I highly recommend it. Dr. Sam McInerney | Suman Bhaskaran | Daniel Carroll | Liam Holohan

I love constructive discussions on how to get innovation actually working inside healthcare because this is still a space rife with problems. I loved this honest post by Dr. Derrick Khor as it highlights (again) that one of the big problems is interviews, this time from the perspective of a physician who is really trying hard to support startups. Note, I also know physicians who can give pretty unhelpful feedback to startups so there are things that can be improved on both sides of the interview table. Do books like the Mom Test help? Yes. Almost. The Mom Test is a great book. I've given it to many teams I've mentored because they need it. Interviewing healthcare providers (HCPs) is still a formiddable and dreaded topic for most startups. But the truth is, startups/founders can read that book and then still go and execute a terrible interview. Sorry Derrick and all other time giving HCPs. I agree with Derrick and those that commented on his post that a good interview should be a learning experience and inspiring. Lofty goals, or prehaps not? But mastering this for healthcare innovation interviews is not covered in the Mom Test or any book I know of. So I was thinking, what's the problem there. Why are interviews so often falling apart in the first 4 minutes. I'll suggest it's a 'worlds apart' problem. Imagine a frog and a dolphin trying to have a conversation on innovative ways to move faster. 🐸 🐬 What on earth is the problem they are trying to solve? How will they solve it when the only thing they have as a common starting point for discussion is their own limited experience of water and movement. They only have 60min to figure this out. A frog and a kangaroo would fair better because at least they both know something about jumping. But still, 60 minutes is pressure on steroids. Most tech startups have no-one in the team who has ever worked in healthcare systems. That's a problem starting point from which to offer a "solution". Most HCPs who want to support these startups have never worked inside a startup or any business for that matter. That's a problem for useful feedback. Where do you want to start on the knowledge exchange and quality question/answers? The clock is ticking too fast. What I am boldly going to attempt is to write a crash course, like max 10 practical to-do's to move knowledge exchange to a higher level for both HCPs and Startups in these early discovery interviews. This is in the idealistic hope it makes some interviews a bit better. Some a lot better. Or it might not do anything but at least its fun writing it. I'll put it in an article and you can let me know if it helps or at least makes you laugh. I'd also love to hear more stories on interviews that go well and of course, the catastrophic ones...