Senior Partner at The Mullings Group | Global Medical Device & Life Sciences | Executive Search-Building Companies and Careers
It seems so simple. Identify the problem you are trying to solve, and create the solution. In reality, the life of an entrepreneur is anything but simple. Understanding the clinical market need and developing a potential solution is an important start, but there are so many facets to continued progress along this road. * How does your solution compare to the current standard of care? * Are we seeking less cost burden on the healthcare system? * Are clinical outcomes improved, and If so, to what economic gain? * Why should an investor have faith in you, or the team you have put in place? * What Is the potential road to revenue, and do we have the capital to get there? Most importantly, are you passionate enough, focused enough, committed enough to travel this road to the other side? Thanks to Clay Nolan, Entrepreneur and Founder/CEO of CoLabs, on sharing this point of introspection.
Yes! Thoroughly understanding and dissecting the true problem upfront across the POVs of the complex healthcare customer constellation–patient, providers, facilities, buyers, payers, caregivers–deeply, objectively, and on an continuously updating basis is the bedrock upon which a strong, successful startup is built.
Holly, I greatly appreciate you voicing everyone’s perspective and experiences on TECHTALKS. There is so much to learn from your guest and I am humbled to be one of them.
WOW. 5 definitive bullets on HOW to structure your thought process as a founder in MedTech and beyond. Powerful and factual. Outstanding insight Clay Nolan. I'll bet on CoLabs! #venturecapital #privateequity #startups
Great talk about a very exciting product, I have seen it in action. And as you say going from a clinical problem to a solution is a great way to improve things 👍👍
That's a very important point. Finding the problem before the solution. Not the other way around! Great pointers.
Recruiter: Leadership for CMO, Clinical, RA/QA & Engineering Top Talent in the Medical Device, IVD, Pharma and C> Industry
10moI love this..... entrepreneurship is simple like Quantum Mechanics! I love the first question because one of the best "first" questions is: Is the problem worth solving? Clay asked all the right questions and has something that, I believe, is going to change the healthcare system dramatically and positively. Happy Holidays, my friend!