Latest / Clinician to CEO : Export Your Medical Device With Confidence By Overcoming Go To Market Roadblocks For Medtech Growth / #185 | The Real Reason Being Hands-Off with Distributors Is the Worst Move Clinicians Can Make And How To Take Control Of Your Medical Device Export Business

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#185 | The Real Reason Being Hands-Off with Distributors Is the Worst Move Clinicians Can Make And How To Take Control Of Your Medical Device Export Business · Clinician to CEO : Export Your Medical Device With Confidence By Overcoming Go To Market Roadblocks For Medtech Growth

• 0:00
  In
• 0:00
  this
• 0:00
  episode,
• 0:01
  you'll
• 0:01
  discover
• 0:02
  why
• 0:02
  trusting
• 0:02
  your
• 0:03
  distributor
• 0:03
  stock
• 0:04
  updates
• 0:04
  may
• 0:05
  well
• 0:05
  be
• 0:05
  a
• 0:06
  very
• 0:06
  costly
• 0:07
  mistake.
• 0:08
  Welcome
• 0:09
  to
• 0:09
  Clinician
• 0:09
  to
• 0:09
  CEO,
• 0:10
  the
• 0:11
  podcast
• 0:11
  helping
• 0:12
  clinicians
• 0:12
  simplify
• 0:13
  your
• 0:13
  go-to-market
• 0:14
  strategy
• 0:14
  so
• 0:15
  that
• 0:15
  you
• 0:15
  can
• 0:15
  stop
• 0:15
  guessing
• 0:16
  and
• 0:16
  turn
• 0:17
  your
• 0:17
  working
• 0:17
  prototypes
• 0:18
  into
• 0:18
  international
• 0:19
  MedTech
• 0:19
  businesses.
• 0:20
  I'm
• 0:21
  your
• 0:21
  host,
• 0:21
  Hakeem
• 0:22
  Aade.
• 0:23
  Let's
• 0:23
  get
• 0:23
  started.
• 0:24
  So
• 0:24
  today
• 0:25
  I'm
• 0:25
  gonna
• 0:25
  take
• 0:26
  you
• 0:26
  through
• 0:26
  a
• 0:26
  real
• 0:26
  life
• 0:27
  case
• 0:27
  study
• 0:27
  and
• 0:28
  what
• 0:28
  you'll
• 0:28
  hopefully
• 0:29
  learn
• 0:29
  from
• 0:29
  that
• 0:29
  case
• 0:29
  study
• 0:30
  is
• 0:30
  number
• 0:30
  one,
• 0:31
  how
• 0:31
  to
• 0:31
  demand
• 0:32
  transparency
• 0:32
  from
• 0:32
  your
• 0:33
  medical
• 0:33
  device
• 0:33
  distributors,
• 0:34
  such
• 0:35
  that
• 0:35
  you
• 0:35
  get
• 0:36
  all
• 0:36
  the
• 0:36
  information
• 0:36
  you
• 0:36
  require.
• 0:37
  Which
• 0:37
  then
• 0:37
  enables
• 0:38
  you
• 0:38
  to
• 0:38
  build
• 0:39
  and
• 0:39
  grow
• 0:39
  your
• 0:40
  international
• 0:40
  business
• 0:41
  successfully.
• 0:42
  Number
• 0:42
  two,
• 0:43
  specific
• 0:43
  strategies
• 0:44
  for
• 0:44
  nurturing,
• 0:45
  accountability
• 0:46
  and
• 0:46
  distributor
• 0:46
  relationships.
• 0:47
  And
• 0:47
  number
• 0:47
  three,
• 0:48
  how
• 0:48
  to
• 0:48
  ensure
• 0:49
  that
• 0:49
  you
• 0:49
  align
• 0:50
  your
• 0:50
  stock
• 0:50
  level
• 0:51
  insights
• 0:51
  with
• 0:52
  market
• 0:52
  trends
• 0:52
  for
• 0:53
  better
• 0:53
  outcomes,
• 0:54
  which
• 0:54
  then
• 0:54
  leads
• 0:55
  to,
• 0:55
  growth
• 0:56
  in
• 0:56
  your
• 0:57
  international
• 0:57
  business.
• 0:58
  And
• 0:59
  the
• 0:59
  case
• 0:59
  study
• 1:00
  that
• 1:00
  I'm
• 1:00
  gonna
• 1:00
  take
• 1:00
  you
• 1:00
  through
• 1:01
  is
• 1:01
  all
• 1:01
  about
• 1:01
  showing
• 1:02
  why
• 1:02
  being
• 1:03
  hands
• 1:03
  off
• 1:04
  with
• 1:04
  your
• 1:04
  distributor
• 1:05
  can
• 1:05
  spell
• 1:05
  disaster,
• 1:06
  and
• 1:06
  then
• 1:06
  what
• 1:06
  action
• 1:07
  do
• 1:07
  you
• 1:07
  need
• 1:07
  to
• 1:07
  do
• 1:08
  and
• 1:08
  to
• 1:08
  take
• 1:08
  to
• 1:09
  ensure
• 1:09
  that
• 1:10
  this
• 1:10
  doesn't
• 1:10
  happen.
• 1:11
  So
• 1:11
  let
• 1:11
  me
• 1:12
  take
• 1:12
  you
• 1:12
  through
• 1:12
  the
• 1:12
  situation
• 1:13
  that
• 1:13
  actually
• 1:13
  happened,
• 1:14
  and
• 1:14
  of
• 1:14
  course,
• 1:15
  I've
• 1:15
  anonymized
• 1:16
  it
• 1:16
  to
• 1:16
  protect
• 1:16
  the
• 1:16
  innocent
• 1:17
  and
• 1:17
  also
• 1:18
  definitely
• 1:19
  to
• 1:19
  protect
• 1:20
  the
• 1:20
  guilty.
• 1:20
  So
• 1:20
  let's
• 1:21
  call
• 1:21
  this
• 1:21
  company
• 1:22
  MedTech
• 1:23
  Innovation
• 1:23
  Limited.
• 1:24
  So
• 1:25
  they
• 1:25
  developed
• 1:25
  a
• 1:25
  groundbreaking
• 1:26
  MedTech
• 1:27
  surgical
• 1:27
  solution,
• 1:28
  and
• 1:28
  their
• 1:28
  distributor,
• 1:29
  had
• 1:30
  been
• 1:30
  relatively
• 1:31
  silent,
• 1:32
  but
• 1:32
  buying
• 1:33
  the
• 1:33
  product
• 1:33
  monthly.
• 1:34
  So
• 1:34
  obviously
• 1:35
  you're
• 1:35
  assuming,
• 1:36
  or
• 1:36
  they
• 1:36
  were
• 1:36
  assuming
• 1:37
  that
• 1:37
  obviously
• 1:37
  sales
• 1:37
  are
• 1:37
  going
• 1:37
  well
• 1:38
  'cause
• 1:38
  they're
• 1:38
  buying
• 1:38
  it
• 1:38
  monthly
• 1:39
  and
• 1:39
  then
• 1:39
  there's
• 1:39
  periodic
• 1:40
  verbal
• 1:40
  updates
• 1:41
  probably,
• 1:42
  every
• 1:42
  couple
• 1:43
  a
• 1:43
  month
• 1:43
  to
• 1:43
  three.
• 1:44
  And
• 1:45
  the
• 1:45
  distributor
• 1:45
  painted
• 1:46
  a
• 1:46
  picture
• 1:47
  of
• 1:47
  smooth
• 1:47
  sailing
• 1:48
  sales
• 1:48
  are
• 1:48
  going
• 1:49
  well
• 1:49
  in
• 1:49
  the
• 1:49
  marketplace
• 1:50
  and
• 1:50
  that's
• 1:50
  why
• 1:50
  they're
• 1:50
  buying
• 1:51
  the
• 1:51
  stock.
• 1:51
  And
• 1:51
  they're
• 1:51
  saying
• 1:52
  that
• 1:52
  their
• 1:52
  stock
• 1:52
  level,
• 1:53
  the
• 1:53
  normal,
• 1:53
  and
• 1:54
  obviously,
• 1:54
  MedTech
• 1:55
  innovation
• 1:56
  Limited.
• 1:56
  believed
• 1:57
  them
• 1:58
  and
• 1:58
  they
• 1:58
  just
• 1:58
  carried
• 1:58
  on,
• 1:59
  selling
• 1:59
  them
• 1:59
  the
• 1:59
  products
• 2:00
  because
• 2:00
  they're
• 2:00
  regularly
• 2:01
  ordering
• 2:01
  and
• 2:01
  they're
• 2:02
  saying
• 2:02
  they
• 2:02
  have.
• 2:02
  Roughly
• 2:03
  about
• 2:03
  three
• 2:03
  months
• 2:04
  stock.
• 2:04
  So
• 2:05
  no
• 2:05
  red
• 2:05
  flags
• 2:06
  there.
• 2:06
  Everything's
• 2:07
  going
• 2:07
  well,
• 2:07
  but
• 2:07
  all
• 2:08
  was
• 2:08
  not
• 2:08
  as
• 2:09
  it
• 2:09
  seemed.
• 2:09
  And
• 2:10
  this
• 2:10
  situation
• 2:11
  led
• 2:11
  to
• 2:11
  a
• 2:11
  stockpiling
• 2:12
  catastrophe
• 2:13
  because
• 2:14
  when
• 2:14
  MedTech
• 2:15
  innovations,
• 2:16
  I
• 2:16
  think
• 2:16
  it
• 2:16
  was
• 2:16
  about
• 2:16
  a
• 2:16
  year
• 2:17
  or
• 2:17
  two
• 2:17
  in,
• 2:17
  wanted
• 2:18
  to
• 2:18
  change
• 2:18
  their
• 2:18
  distributor,
• 2:19
  they
• 2:20
  then
• 2:20
  started
• 2:20
  asking
• 2:21
  for
• 2:21
  granular
• 2:22
  detail.
• 2:23
  And
• 2:23
  it
• 2:23
  was
• 2:23
  at
• 2:23
  that
• 2:23
  point
• 2:24
  that
• 2:24
  they
• 2:24
  then
• 2:24
  found
• 2:25
  that
• 2:25
  their
• 2:25
  distributor
• 2:26
  was
• 2:26
  actually
• 2:26
  holding
• 2:27
  five
• 2:28
  times
• 2:28
  the
• 2:29
  inventory
• 2:29
  that
• 2:29
  they
• 2:30
  had
• 2:30
  said
• 2:30
  they
• 2:31
  were
• 2:31
  holding.
• 2:31
  So
• 2:32
  a
• 2:32
  lot
• 2:32
  of
• 2:32
  you
• 2:32
  listening
• 2:33
  will
• 2:33
  probably
• 2:33
  now
• 2:33
  be
• 2:33
  thinking,
• 2:34
  well,
• 2:34
  why
• 2:34
  on
• 2:34
  earth
• 2:35
  would
• 2:35
  the
• 2:35
  distributor
• 2:36
  be
• 2:36
  holding
• 2:36
  five
• 2:36
  times
• 2:37
  as
• 2:37
  much
• 2:37
  stock
• 2:38
  as
• 2:38
  they're
• 2:38
  telling
• 2:39
  the
• 2:39
  manufacturer
• 2:39
  they
• 2:39
  are?
• 2:39
  Because
• 2:40
  actually
• 2:40
  most
• 2:40
  business
• 2:41
  strategies
• 2:42
  and,
• 2:42
  strategists
• 2:43
  will
• 2:44
  tell
• 2:44
  you
• 2:44
  that
• 2:44
  actually
• 2:45
  you
• 2:45
  want
• 2:45
  to
• 2:45
  keep
• 2:45
  your
• 2:45
  stock
• 2:45
  holding
• 2:46
  low
• 2:46
  because
• 2:46
  you
• 2:46
  don't
• 2:46
  wanna
• 2:47
  have
• 2:47
  all
• 2:47
  your
• 2:47
  money,
• 2:48
  tied
• 2:48
  up
• 2:49
  in
• 2:49
  stock
• 2:49
  because
• 2:50
  you
• 2:50
  want
• 2:50
  cashflow,
• 2:51
  obviously.
• 2:51
  However.
• 2:52
  The
• 2:52
  distributor,
• 2:53
  the
• 2:53
  reason
• 2:53
  that
• 2:53
  we
• 2:54
  found
• 2:54
  out
• 2:54
  that
• 2:54
  they
• 2:54
  were
• 2:55
  holding
• 2:55
  that
• 2:56
  stock
• 2:56
  was
• 2:57
  they
• 2:57
  actually
• 2:57
  had
• 2:57
  an
• 2:58
  inkling
• 2:58
  and
• 2:58
  a
• 2:58
  feeling
• 2:59
  that
• 2:59
  they
• 2:59
  were
• 2:59
  gonna
• 2:59
  be
• 2:59
  replaced
• 3:00
  as
• 3:00
  a
• 3:00
  distributor.
• 3:01
  And
• 3:01
  they
• 3:01
  thought
• 3:02
  that
• 3:02
  actually
• 3:02
  having
• 3:03
  this
• 3:03
  much
• 3:03
  stock
• 3:04
  would
• 3:04
  then
• 3:04
  prevent
• 3:05
  the
• 3:05
  company,
• 3:06
  removing
• 3:06
  them
• 3:07
  as
• 3:07
  a
• 3:07
  distributor
• 3:07
  because
• 3:08
  they'd
• 3:08
  have
• 3:08
  so
• 3:08
  much
• 3:08
  stock
• 3:08
  there
• 3:09
  to,
• 3:09
  to
• 3:09
  sell
• 3:09
  into
• 3:10
  the
• 3:10
  marketplace.
• 3:10
  And
• 3:11
  also.
• 3:11
  The
• 3:12
  manufacturer
• 3:12
  would
• 3:13
  have
• 3:13
  to
• 3:13
  buy
• 3:13
  back
• 3:13
  some
• 3:13
  of
• 3:13
  that
• 3:14
  stock,
• 3:14
  so
• 3:14
  they'd
• 3:14
  have
• 3:14
  to
• 3:15
  stump
• 3:15
  up
• 3:15
  quite
• 3:15
  a
• 3:15
  lot
• 3:15
  of
• 3:16
  cash
• 3:16
  themselves
• 3:16
  to
• 3:16
  get
• 3:16
  that
• 3:17
  stock.
• 3:17
  So
• 3:17
  they,
• 3:17
  they
• 3:17
  were
• 3:18
  holding
• 3:18
  it
• 3:18
  as
• 3:18
  a
• 3:19
  protection
• 3:19
  mechanism.
• 3:20
  And
• 3:20
  I'm
• 3:20
  sure
• 3:21
  that
• 3:21
  you
• 3:21
  can
• 3:21
  see
• 3:22
  that
• 3:22
  from
• 3:22
  MedTech
• 3:23
  Innovations,
• 3:24
  there's
• 3:24
  various
• 3:25
  issues
• 3:25
  here
• 3:26
  of
• 3:26
  having
• 3:27
  a
• 3:27
  lot
• 3:27
  of
• 3:27
  stock
• 3:28
  with
• 3:28
  your,
• 3:28
  in
• 3:28
  your
• 3:29
  distributors.
• 3:29
  Number
• 3:30
  one.
• 3:30
  You
• 3:30
  may
• 3:30
  well
• 3:31
  start
• 3:31
  pushing
• 3:31
  up
• 3:32
  against
• 3:32
  the
• 3:33
  expiry
• 3:33
  date
• 3:33
  of
• 3:33
  that
• 3:34
  product
• 3:34
  if,
• 3:34
  because
• 3:35
  if
• 3:35
  you
• 3:35
  think
• 3:35
  about
• 3:35
  it,
• 3:35
  if
• 3:36
  you
• 3:36
  got
• 3:36
  five
• 3:37
  times
• 3:37
  as
• 3:37
  much
• 3:37
  stock,
• 3:38
  then
• 3:38
  when
• 3:38
  they
• 3:39
  first
• 3:39
  bought
• 3:39
  that
• 3:39
  stock,
• 3:40
  if
• 3:40
  they've
• 3:40
  still
• 3:40
  got
• 3:40
  some
• 3:40
  of
• 3:41
  that
• 3:41
  stock
• 3:41
  from
• 3:41
  say
• 3:42
  15,
• 3:42
  16
• 3:42
  months
• 3:43
  ago,
• 3:43
  that
• 3:44
  might
• 3:44
  be
• 3:44
  pushing
• 3:44
  up
• 3:44
  against
• 3:45
  the
• 3:45
  expiry
• 3:45
  date.
• 3:46
  And
• 3:46
  that's
• 3:46
  then
• 3:46
  gonna
• 3:46
  cause
• 3:47
  problems
• 3:47
  because
• 3:47
  you
• 3:48
  can't
• 3:48
  really
• 3:48
  sell
• 3:48
  that
• 3:48
  to
• 3:48
  customers,
• 3:49
  or
• 3:49
  the
• 3:49
  customers
• 3:50
  are
• 3:50
  gonna
• 3:50
  buy
• 3:50
  it
• 3:51
  and
• 3:51
  they're
• 3:51
  gonna
• 3:51
  see
• 3:52
  there's
• 3:52
  a
• 3:52
  not
• 3:52
  much
• 3:53
  expiry
• 3:53
  date
• 3:53
  on
• 3:54
  it,
• 3:54
  and
• 3:54
  they're
• 3:54
  gonna
• 3:54
  want.
• 3:54
  Discounts
• 3:55
  and
• 3:55
  all
• 3:55
  sorts
• 3:55
  of
• 3:55
  things.
• 3:56
  So
• 3:56
  that's
• 3:56
  number
• 3:56
  one.
• 3:56
  Problem
• 3:57
  number
• 3:57
  two,
• 3:58
  it
• 3:58
  then
• 3:58
  means
• 3:59
  that
• 3:59
  the
• 3:59
  sales
• 3:59
  figures
• 4:00
  that
• 4:00
  you've
• 4:00
  been
• 4:01
  logging,
• 4:01
  selling
• 4:02
  to
• 4:02
  this
• 4:02
  distributor.
• 4:03
  Then
• 4:03
  number
• 4:03
  two,
• 4:04
  it
• 4:04
  then
• 4:04
  means
• 4:04
  the
• 4:04
  sales
• 4:04
  figures
• 4:05
  that
• 4:05
  MedTech,
• 4:06
  innovations
• 4:07
  have
• 4:07
  been
• 4:07
  logging,
• 4:08
  in
• 4:08
  their
• 4:08
  p
• 4:09
  and
• 4:09
  l
• 4:09
  for
• 4:09
  this
• 4:10
  distributor
• 4:11
  aren't
• 4:11
  actually
• 4:11
  real
• 4:12
  because
• 4:12
  you're
• 4:13
  logging
• 4:13
  them.
• 4:13
  So
• 4:13
  they're
• 4:13
  real
• 4:14
  in
• 4:14
  terms
• 4:14
  of
• 4:14
  the,
• 4:14
  you're
• 4:15
  selling
• 4:15
  'em
• 4:15
  to
• 4:15
  the
• 4:15
  distributor,
• 4:16
  but
• 4:16
  it's
• 4:16
  not
• 4:16
  going
• 4:16
  anywhere.
• 4:17
  So
• 4:17
  you're
• 4:17
  thinking
• 4:18
  that
• 4:18
  stock
• 4:18
  is
• 4:18
  moving
• 4:19
  through
• 4:19
  into
• 4:20
  the
• 4:20
  marketplace,
• 4:20
  which
• 4:21
  means
• 4:21
  actually
• 4:22
  your
• 4:22
  market
• 4:22
  sales
• 4:23
  are
• 4:23
  not
• 4:23
  really
• 4:23
  what
• 4:23
  you
• 4:24
  thought
• 4:24
  it
• 4:24
  was.
• 4:24
  And
• 4:25
  therefore,
• 4:25
  if
• 4:25
  you
• 4:25
  then
• 4:26
  were
• 4:26
  to
• 4:26
  move
• 4:26
  distributors
• 4:27
  at
• 4:27
  this
• 4:27
  point,
• 4:28
  you're
• 4:28
  not
• 4:28
  going
• 4:28
  to
• 4:28
  be
• 4:29
  selling.
• 4:30
  Much
• 4:30
  into
• 4:30
  that
• 4:30
  market
• 4:31
  for
• 4:31
  at
• 4:31
  least
• 4:32
  a
• 4:32
  year.
• 4:33
  So
• 4:33
  that's
• 4:33
  then
• 4:33
  a
• 4:33
  problem
• 4:33
  because
• 4:34
  then
• 4:34
  what,
• 4:34
  why
• 4:34
  is
• 4:34
  that
• 4:34
  attractive
• 4:35
  to
• 4:35
  a
• 4:35
  new
• 4:35
  distributor?
• 4:36
  And
• 4:36
  that's
• 4:36
  exactly
• 4:36
  what
• 4:36
  the
• 4:37
  incumbent
• 4:37
  distributor
• 4:38
  was
• 4:39
  hoping
• 4:39
  for.
• 4:40
  And
• 4:40
  then
• 4:40
  number
• 4:40
  three,
• 4:41
  if
• 4:41
  MedTech
• 4:41
  innovations
• 4:42
  do
• 4:42
  agree
• 4:43
  to
• 4:43
  buy
• 4:43
  the
• 4:43
  product
• 4:44
  back,
• 4:44
  or
• 4:45
  it's
• 4:45
  contractually
• 4:45
  obligated
• 4:46
  that
• 4:46
  they
• 4:46
  have
• 4:46
  to
• 4:46
  buy
• 4:46
  the
• 4:47
  product
• 4:47
  back,
• 4:48
  then
• 4:48
  they're
• 4:48
  gonna
• 4:49
  be
• 4:49
  selling
• 4:49
  out
• 4:50
  a
• 4:50
  whole
• 4:50
  lot
• 4:51
  of
• 4:51
  money
• 4:51
  because
• 4:51
  that's
• 4:52
  a
• 4:52
  lot
• 4:52
  of
• 4:52
  stock.
• 4:52
  The
• 4:53
  key
• 4:53
  reason
• 4:53
  I
• 4:53
  wanted
• 4:53
  to
• 4:53
  go
• 4:53
  through
• 4:54
  this
• 4:54
  case
• 4:54
  study
• 4:55
  is
• 4:55
  'cause
• 4:55
  it
• 4:55
  gives
• 4:56
  us
• 4:56
  an
• 4:56
  insight,
• 4:57
  hopefully,
• 4:57
  and
• 4:57
  an
• 4:57
  opportunity
• 4:58
  to
• 4:59
  look
• 4:59
  at
• 4:59
  how
• 5:00
  this
• 5:00
  happened
• 5:00
  in
• 5:00
  the
• 5:00
  first
• 5:01
  place,
• 5:01
  and
• 5:02
  then
• 5:02
  some
• 5:02
  key
• 5:03
  actionable
• 5:04
  points
• 5:04
  and
• 5:04
  takeaways
• 5:05
  to
• 5:05
  ensure
• 5:05
  that
• 5:06
  you
• 5:06
  never
• 5:06
  find
• 5:06
  yourself
• 5:07
  in
• 5:07
  this
• 5:08
  situation.
• 5:09
  So
• 5:09
  the
• 5:09
  way
• 5:09
  I've
• 5:09
  structured
• 5:10
  this
• 5:10
  is
• 5:11
  to
• 5:11
  break
• 5:12
  it
• 5:12
  down
• 5:12
  into
• 5:12
  five
• 5:13
  key
• 5:13
  points
• 5:14
  that
• 5:14
  really
• 5:14
  highlight
• 5:15
  why
• 5:16
  this
• 5:16
  could
• 5:16
  happen
• 5:17
  and
• 5:17
  then
• 5:17
  what
• 5:17
  the
• 5:17
  solutions
• 5:18
  are.
• 5:18
  So
• 5:19
  number
• 5:19
  one,
• 5:20
  it's
• 5:20
  all
• 5:20
  around
• 5:20
  communication
• 5:21
  and
• 5:21
  the
• 5:22
  clarity
• 5:22
  of
• 5:22
  communication
• 5:23
  because
• 5:24
  what
• 5:24
  you
• 5:24
  shouldn't
• 5:24
  ever
• 5:25
  do.
• 5:25
  And
• 5:25
  what
• 5:26
  lots
• 5:26
  of
• 5:26
  people
• 5:26
  do
• 5:26
  do
• 5:27
  is
• 5:27
  confuse
• 5:28
  the
• 5:28
  fact
• 5:28
  that
• 5:28
  you're
• 5:28
  having
• 5:29
  regular
• 5:29
  meetings
• 5:30
  and
• 5:30
  casual
• 5:31
  check-ins
• 5:32
  may
• 5:32
  well
• 5:32
  make
• 5:32
  you
• 5:32
  feel
• 5:33
  very
• 5:33
  productive
• 5:33
  and
• 5:33
  that
• 5:34
  you've
• 5:34
  got
• 5:34
  getting
• 5:34
  on
• 5:34
  with
• 5:34
  them,
• 5:35
  but
• 5:35
  they
• 5:35
  can
• 5:35
  also
• 5:36
  be
• 5:36
  very
• 5:36
  deceptive
• 5:37
  because
• 5:37
  you're
• 5:37
  not
• 5:38
  actually
• 5:38
  checking
• 5:38
  and
• 5:39
  you've
• 5:39
  got
• 5:39
  no
• 5:39
  formalized
• 5:40
  way
• 5:40
  of
• 5:40
  actually
• 5:41
  checking
• 5:41
  what's
• 5:41
  going
• 5:42
  on
• 5:42
  now.
• 5:43
  MedTech
• 5:43
  in
• 5:44
  innovations
• 5:44
  in
• 5:44
  this
• 5:45
  situation
• 5:45
  was
• 5:46
  doing
• 5:46
  exactly
• 5:47
  that.
• 5:47
  They
• 5:47
  were
• 5:47
  speaking
• 5:47
  to
• 5:48
  them
• 5:48
  regularly.
• 5:48
  They
• 5:49
  were
• 5:49
  getting
• 5:49
  a
• 5:49
  couple
• 5:49
  of
• 5:49
  emails
• 5:50
  just
• 5:50
  saying,
• 5:50
  yeah,
• 5:50
  everything's
• 5:51
  fine.
• 5:51
  They
• 5:51
  were
• 5:51
  ringing
• 5:52
  them,
• 5:52
  they
• 5:52
  were
• 5:52
  WhatsApping
• 5:53
  them,
• 5:53
  and
• 5:53
  they
• 5:54
  were
• 5:54
  getting
• 5:54
  all
• 5:54
  those
• 5:54
  verbal
• 5:55
  assurances,
• 5:55
  and
• 5:56
  then
• 5:56
  they
• 5:56
  found
• 5:57
  out
• 5:57
  that
• 5:57
  what
• 5:58
  the,
• 5:58
  the
• 5:58
  verbal
• 5:58
  assurances
• 5:59
  they
• 5:59
  were
• 5:59
  getting
• 6:00
  wasn't
• 6:00
  true.
• 6:01
  And
• 6:01
  it
• 6:01
  was
• 6:01
  far
• 6:01
  too
• 6:01
  late
• 6:01
  by
• 6:02
  that
• 6:02
  'cause
• 6:02
  the
• 6:02
  stock
• 6:02
  holding
• 6:03
  was
• 6:03
  very
• 6:03
  high
• 6:03
  and
• 6:04
  the
• 6:04
  value
• 6:04
  of
• 6:04
  that
• 6:04
  stock
• 6:05
  was
• 6:05
  exceptionally,
• 6:06
  I
• 6:06
  think
• 6:06
  it
• 6:06
  was
• 6:06
  over
• 6:06
  a
• 6:06
  million
• 6:07
  pounds.
• 6:07
  So
• 6:08
  the
• 6:08
  action
• 6:08
  point
• 6:09
  really
• 6:10
  here
• 6:10
  is
• 6:11
  ensuring
• 6:12
  that
• 6:12
  actually
• 6:12
  your
• 6:13
  communication
• 6:14
  is
• 6:14
  really
• 6:15
  set
• 6:15
  out
• 6:16
  and
• 6:16
  it's
• 6:16
  detailed.
• 6:17
  So
• 6:17
  whenever
• 6:17
  you're
• 6:18
  working
• 6:18
  with
• 6:18
  a
• 6:18
  distributor,
• 6:19
  what
• 6:19
  you
• 6:19
  need
• 6:19
  to
• 6:19
  do
• 6:20
  is
• 6:20
  set
• 6:20
  up
• 6:20
  detailed
• 6:21
  reporting
• 6:21
  protocols,
• 6:22
  in
• 6:23
  terms
• 6:23
  of
• 6:23
  what
• 6:24
  you
• 6:24
  want,
• 6:24
  when
• 6:25
  you
• 6:25
  want
• 6:25
  it,
• 6:26
  and
• 6:26
  how
• 6:26
  you
• 6:26
  want
• 6:27
  to
• 6:27
  receive
• 6:27
  it,
• 6:28
  and
• 6:28
  set
• 6:28
  that
• 6:28
  up
• 6:28
  with
• 6:29
  your
• 6:29
  distributor.
• 6:30
  So
• 6:30
  request
• 6:31
  monthly
• 6:31
  inventory
• 6:32
  reports,
• 6:32
  for
• 6:32
  example,
• 6:33
  rather
• 6:33
  than
• 6:33
  just
• 6:33
  verbal
• 6:34
  affirmations.
• 6:35
  This
• 6:35
  will
• 6:35
  then
• 6:35
  mean
• 6:36
  that
• 6:36
  you
• 6:36
  can
• 6:37
  track
• 6:37
  market
• 6:38
  demand
• 6:38
  against
• 6:39
  stock
• 6:39
  levels
• 6:40
  more
• 6:40
  accurately.
• 6:41
  Plus
• 6:42
  when
• 6:42
  you
• 6:43
  have
• 6:43
  it
• 6:43
  in
• 6:43
  writing,
• 6:44
  it's
• 6:45
  much
• 6:45
  easier
• 6:45
  to
• 6:45
  challenge.
• 6:46
  And
• 6:46
  then
• 6:46
  review
• 6:47
  what
• 6:47
  they've
• 6:48
  said
• 6:48
  as
• 6:48
  you're
• 6:49
  moving
• 6:49
  forward,
• 6:50
  rather
• 6:50
  than
• 6:50
  when
• 6:50
  you've
• 6:50
  just
• 6:50
  got
• 6:51
  verbal
• 6:51
  assurances.
• 6:51
  'cause
• 6:52
  people
• 6:52
  can
• 6:52
  always
• 6:52
  say,
• 6:52
  well,
• 6:53
  no,
• 6:53
  I
• 6:53
  never
• 6:53
  said
• 6:53
  that.
• 6:54
  Or
• 6:54
  they
• 6:54
  can,
• 6:55
  say,
• 6:55
  well,
• 6:55
  what
• 6:55
  I
• 6:55
  meant
• 6:56
  by
• 6:56
  that
• 6:56
  was,
• 6:57
  so
• 6:57
  I
• 6:57
  think
• 6:58
  you,
• 6:58
  you're
• 6:58
  having
• 6:58
  it
• 6:58
  in
• 6:58
  writing,
• 6:59
  having
• 7:00
  it
• 7:00
  in
• 7:00
  a
• 7:00
  report
• 7:00
  format
• 7:01
  where
• 7:01
  you
• 7:01
  can
• 7:01
  review
• 7:01
  with
• 7:01
  them
• 7:02
  is,
• 7:03
  critical.
• 7:03
  But
• 7:04
  make
• 7:04
  sure
• 7:05
  that
• 7:05
  the
• 7:05
  communication
• 7:06
  is
• 7:06
  obviously
• 7:06
  two
• 7:06
  way,
• 7:07
  so
• 7:07
  that
• 7:07
  you're
• 7:07
  giving
• 7:08
  them
• 7:08
  information,
• 7:09
  they're
• 7:09
  giving
• 7:09
  you
• 7:09
  information,
• 7:10
  and
• 7:10
  you're
• 7:10
  having
• 7:10
  regular
• 7:11
  meetings
• 7:11
  about
• 7:11
  it,
• 7:11
  and
• 7:12
  never
• 7:12
  assume
• 7:12
  that
• 7:12
  everything
• 7:13
  is
• 7:13
  okay.
• 7:13
  Continually
• 7:14
  be
• 7:14
  asking
• 7:15
  questions
• 7:16
  so
• 7:16
  that
• 7:16
  you
• 7:16
  can
• 7:17
  make
• 7:17
  sure
• 7:18
  that
• 7:18
  actually
• 7:19
  the
• 7:19
  information
• 7:19
  you're
• 7:19
  getting
• 7:20
  back
• 7:20
  if
• 7:21
  actually
• 7:22
  accurate
• 7:22
  and
• 7:22
  you're
• 7:22
  not
• 7:22
  assuming
• 7:23
  anything.
• 7:23
  So
• 7:24
  that's
• 7:24
  number
• 7:24
  one.
• 7:25
  Making
• 7:25
  sure
• 7:26
  that
• 7:26
  you've
• 7:27
  got
• 7:27
  regular
• 7:28
  and
• 7:29
  clear
• 7:29
  updates
• 7:30
  and
• 7:30
  check-in,
• 7:31
  meetings
• 7:32
  based
• 7:32
  on
• 7:33
  a
• 7:33
  lot
• 7:33
  of
• 7:33
  parameters.
• 7:34
  But
• 7:34
  stock
• 7:34
  holding
• 7:35
  should
• 7:35
  be
• 7:35
  one
• 7:36
  of
• 7:36
  those.
• 7:36
  And
• 7:36
  then
• 7:36
  I've
• 7:36
  mentioned
• 7:37
  in
• 7:37
  that,
• 7:37
  number
• 7:38
  one
• 7:38
  about
• 7:38
  matching
• 7:39
  stock
• 7:39
  holding
• 7:40
  with
• 7:41
  market
• 7:41
  demand.
• 7:41
  So
• 7:42
  number
• 7:42
  two
• 7:43
  is
• 7:43
  about
• 7:43
  market
• 7:43
  demand.
• 7:44
  If
• 7:44
  you
• 7:44
  have
• 7:45
  no
• 7:45
  idea
• 7:46
  what
• 7:46
  the
• 7:46
  market
• 7:46
  demand
• 7:47
  is,
• 7:47
  then
• 7:47
  you
• 7:47
  have
• 7:48
  no
• 7:48
  idea
• 7:48
  if
• 7:48
  the
• 7:48
  stock
• 7:49
  that
• 7:49
  they're
• 7:49
  ordering
• 7:50
  is
• 7:50
  in
• 7:50
  line
• 7:51
  with
• 7:51
  what
• 7:52
  the
• 7:52
  market
• 7:52
  actually
• 7:53
  requires.
• 7:53
  So
• 7:54
  therefore,
• 7:55
  if
• 7:55
  you
• 7:55
  don't
• 7:55
  know
• 7:55
  that,
• 7:55
  it's
• 7:56
  very
• 7:56
  difficult
• 7:57
  to
• 7:57
  really
• 7:57
  understand,
• 7:58
  okay?
• 7:58
  When
• 7:58
  they're
• 7:58
  ordering,
• 7:59
  thousands
• 8:00
  of
• 8:00
  pieces
• 8:00
  from
• 8:00
  you.
• 8:01
  Is
• 8:01
  that
• 8:01
  reasonable
• 8:02
  based
• 8:02
  on
• 8:02
  what's
• 8:03
  happening
• 8:03
  in
• 8:03
  the
• 8:03
  market?
• 8:04
  Because
• 8:04
  if
• 8:04
  it
• 8:04
  is,
• 8:04
  then
• 8:05
  that's
• 8:05
  fine.
• 8:05
  You're
• 8:05
  gonna
• 8:05
  let
• 8:06
  them
• 8:06
  keep
• 8:06
  doing
• 8:06
  it.
• 8:06
  You're
• 8:06
  still
• 8:06
  gonna
• 8:07
  do
• 8:07
  number
• 8:07
  one,
• 8:08
  you
• 8:08
  still
• 8:08
  need
• 8:08
  to
• 8:08
  have
• 8:08
  the
• 8:08
  communication.
• 8:09
  You
• 8:09
  still
• 8:09
  need
• 8:10
  to
• 8:10
  be
• 8:10
  speaking
• 8:10
  to
• 8:10
  'em
• 8:10
  and
• 8:10
  getting
• 8:11
  the
• 8:11
  reports,
• 8:11
  but
• 8:12
  at
• 8:12
  least
• 8:12
  you
• 8:12
  can
• 8:12
  see
• 8:13
  some
• 8:13
  market
• 8:13
  signalers.
• 8:14
  'cause
• 8:14
  if
• 8:14
  you
• 8:15
  know
• 8:15
  that
• 8:15
  the
• 8:15
  market
• 8:15
  demand
• 8:16
  is
• 8:16
  like
• 8:17
  two
• 8:17
  pieces
• 8:18
  a
• 8:18
  month
• 8:18
  and
• 8:19
  they're
• 8:19
  ordering
• 8:19
  a
• 8:19
  thousand
• 8:20
  pieces
• 8:20
  of
• 8:20
  you,
• 8:20
  then
• 8:20
  that
• 8:20
  allows
• 8:21
  you
• 8:21
  to
• 8:21
  start
• 8:21
  asking
• 8:22
  the
• 8:22
  right
• 8:23
  questions.
• 8:24
  So
• 8:24
  this
• 8:24
  is
• 8:24
  obviously
• 8:25
  critical.
• 8:25
  don't.
• 8:25
  And
• 8:26
  you
• 8:26
  don't
• 8:26
  need
• 8:26
  to
• 8:26
  have
• 8:27
  sales
• 8:28
  from
• 8:28
  every
• 8:29
  account
• 8:29
  from
• 8:29
  them,
• 8:30
  but
• 8:30
  you
• 8:30
  do
• 8:31
  need
• 8:31
  to
• 8:31
  have
• 8:31
  a
• 8:31
  sense
• 8:31
  of
• 8:31
  what's
• 8:32
  happening
• 8:32
  in
• 8:32
  the
• 8:32
  market.
• 8:33
  And
• 8:33
  MedTech
• 8:34
  innovations
• 8:35
  in
• 8:35
  our
• 8:35
  example,
• 8:36
  sadly,
• 8:36
  was
• 8:36
  not
• 8:37
  on
• 8:37
  top
• 8:37
  of
• 8:37
  this,
• 8:38
  so
• 8:38
  there
• 8:39
  was
• 8:39
  no
• 8:39
  red
• 8:39
  flags
• 8:40
  were
• 8:40
  raised
• 8:41
  because
• 8:41
  they
• 8:41
  were
• 8:41
  just
• 8:42
  getting
• 8:42
  orders
• 8:42
  and
• 8:42
  they
• 8:42
  were
• 8:42
  thinking
• 8:43
  it's
• 8:43
  great.
• 8:43
  They
• 8:43
  didn't
• 8:43
  really
• 8:43
  know
• 8:44
  what
• 8:44
  was
• 8:44
  going
• 8:44
  on
• 8:44
  in
• 8:44
  the
• 8:44
  market.
• 8:45
  And
• 8:45
  that's
• 8:45
  the
• 8:45
  problem.
• 8:45
  So
• 8:46
  I
• 8:46
  know
• 8:46
  that
• 8:46
  you
• 8:46
  might
• 8:46
  be
• 8:46
  thinking
• 8:47
  if
• 8:47
  I
• 8:47
  don't
• 8:48
  get
• 8:48
  the
• 8:48
  information,
• 8:48
  or
• 8:48
  I'm
• 8:49
  not
• 8:49
  getting
• 8:49
  the
• 8:49
  information
• 8:50
  from
• 8:50
  my
• 8:50
  distributor,
• 8:51
  who's
• 8:51
  my
• 8:51
  eyes
• 8:51
  and
• 8:51
  ears
• 8:52
  on
• 8:52
  the
• 8:52
  ground.
• 8:53
  Well,
• 8:53
  how
• 8:53
  am
• 8:53
  I
• 8:53
  gonna
• 8:53
  know
• 8:53
  what's
• 8:53
  going
• 8:54
  on
• 8:54
  the
• 8:54
  market?
• 8:54
  So
• 8:54
  if
• 8:55
  someone
• 8:55
  wants
• 8:55
  to
• 8:55
  deceive
• 8:56
  me,
• 8:56
  then
• 8:57
  actually
• 8:57
  they
• 8:57
  can
• 8:57
  just
• 8:58
  deceive
• 8:58
  me
• 8:58
  about
• 8:58
  what
• 8:58
  the
• 8:58
  market,
• 8:59
  is
• 8:59
  saying.
• 9:00
  And
• 9:00
  that's
• 9:00
  why
• 9:01
  it's
• 9:01
  really
• 9:01
  important
• 9:02
  that
• 9:03
  you
• 9:03
  have
• 9:04
  a
• 9:04
  detailed,
• 9:05
  or
• 9:05
  that
• 9:05
  you
• 9:05
  get
• 9:06
  detailed
• 9:06
  information
• 9:07
  from
• 9:07
  the
• 9:07
  big
• 9:08
  accounts
• 9:08
  that
• 9:09
  are
• 9:09
  using.
• 9:09
  In
• 9:10
  that
• 9:10
  market.
• 9:11
  Now,
• 9:11
  obviously
• 9:12
  one
• 9:12
  of
• 9:12
  those
• 9:12
  is
• 9:13
  about
• 9:13
  the,
• 9:13
  that
• 9:13
  communication
• 9:14
  piece
• 9:14
  so
• 9:15
  that
• 9:15
  you're
• 9:15
  speaking
• 9:16
  to
• 9:16
  the
• 9:17
  distributor
• 9:17
  and
• 9:18
  that
• 9:18
  you're
• 9:18
  challenging
• 9:18
  them
• 9:18
  and,
• 9:18
  and
• 9:19
  making
• 9:19
  sure
• 9:19
  that
• 9:19
  you
• 9:19
  understand
• 9:20
  firstly,
• 9:20
  who
• 9:20
  those
• 9:21
  big
• 9:21
  accounts
• 9:21
  are,
• 9:22
  and
• 9:22
  secondly,
• 9:23
  what
• 9:23
  is
• 9:23
  actually
• 9:23
  happening
• 9:24
  in
• 9:24
  those
• 9:24
  big
• 9:24
  accounts.
• 9:24
  So
• 9:25
  you
• 9:25
  can
• 9:25
  then
• 9:25
  start
• 9:25
  to
• 9:25
  see
• 9:25
  what
• 9:26
  the
• 9:26
  sales
• 9:26
  happening
• 9:26
  there.
• 9:27
  So,
• 9:27
  so
• 9:27
  that
• 9:27
  you
• 9:27
  can
• 9:27
  give
• 9:28
  a,
• 9:28
  a
• 9:28
  pulse
• 9:28
  check
• 9:29
  on
• 9:29
  what
• 9:29
  the
• 9:29
  market
• 9:29
  is
• 9:30
  doing.
• 9:30
  And
• 9:30
  if
• 9:30
  you
• 9:31
  can
• 9:31
  get
• 9:31
  full
• 9:31
  in
• 9:32
  market
• 9:32
  data
• 9:32
  from
• 9:32
  them,
• 9:33
  the
• 9:33
  distributor
• 9:33
  says,
• 9:34
  yeah,
• 9:34
  we'll
• 9:34
  give
• 9:34
  you
• 9:35
  just
• 9:35
  our
• 9:35
  sales
• 9:35
  data.
• 9:36
  That's
• 9:36
  brilliant.
• 9:36
  But
• 9:37
  depending
• 9:37
  on
• 9:37
  the
• 9:37
  sales
• 9:38
  of
• 9:38
  the
• 9:38
  product
• 9:39
  and
• 9:39
  your
• 9:39
  distributor
• 9:40
  you're
• 9:40
  working
• 9:40
  with,
• 9:40
  this
• 9:41
  may
• 9:41
  not
• 9:41
  be
• 9:41
  possible.
• 9:42
  So
• 9:42
  you
• 9:42
  need,
• 9:43
  so
• 9:43
  you
• 9:43
  at
• 9:43
  least
• 9:43
  need
• 9:44
  a
• 9:44
  proxy,
• 9:44
  I
• 9:45
  having,
• 9:45
  some
• 9:45
  of
• 9:45
  the
• 9:45
  top
• 9:46
  accounts.
• 9:46
  Now,
• 9:47
  this
• 9:47
  then
• 9:48
  leads
• 9:48
  onto
• 9:49
  that
• 9:49
  number
• 9:50
  three,
• 9:50
  which
• 9:50
  is
• 9:50
  about
• 9:50
  market
• 9:51
  visits
• 9:51
  because,
• 9:52
  up
• 9:52
  to
• 9:52
  now
• 9:53
  everything
• 9:53
  I've
• 9:54
  said,
• 9:54
  you
• 9:54
  are
• 9:55
  actually
• 9:55
  relying
• 9:56
  on
• 9:56
  the
• 9:56
  distributor.
• 9:57
  To
• 9:57
  actually
• 9:58
  give
• 9:58
  you
• 9:58
  that
• 9:58
  information.
• 9:59
  And
• 9:59
  you
• 9:59
  don't
• 9:59
  want
• 9:59
  to
• 9:59
  be
• 9:59
  100%
• 10:00
  real
• 10:00
  out
• 10:00
  on
• 10:01
  the
• 10:01
  distributor.
• 10:01
  Yes,
• 10:01
  you
• 10:01
  wanna
• 10:02
  have
• 10:02
  a
• 10:02
  good
• 10:02
  relationship
• 10:02
  with
• 10:02
  the
• 10:02
  distributor.
• 10:03
  Yes,
• 10:04
  you
• 10:04
  want
• 10:04
  to
• 10:04
  make
• 10:04
  sure
• 10:05
  that
• 10:05
  actually
• 10:06
  you're
• 10:06
  getting
• 10:06
  information
• 10:07
  from
• 10:07
  the
• 10:07
  distributor,
• 10:08
  but
• 10:08
  you
• 10:08
  can't
• 10:08
  just
• 10:09
  rely
• 10:09
  on
• 10:09
  that,
• 10:10
  completely
• 10:10
  as
• 10:11
  we've
• 10:11
  seen
• 10:12
  in
• 10:12
  this
• 10:12
  case
• 10:13
  study.
• 10:13
  'cause
• 10:13
  that's
• 10:13
  exactly
• 10:14
  what
• 10:14
  they
• 10:14
  were
• 10:14
  doing,
• 10:15
  and
• 10:16
  it
• 10:16
  led
• 10:16
  to
• 10:16
  a
• 10:16
  disaster.
• 10:17
  So
• 10:18
  what
• 10:18
  you
• 10:18
  want
• 10:18
  to
• 10:18
  be
• 10:19
  able
• 10:19
  to
• 10:19
  do
• 10:19
  is
• 10:20
  get
• 10:20
  into
• 10:20
  the
• 10:20
  market
• 10:21
  yourself
• 10:22
  and
• 10:22
  meet
• 10:22
  customers.
• 10:23
  And
• 10:23
  when
• 10:23
  you're
• 10:23
  in
• 10:23
  the
• 10:23
  facilities,
• 10:24
  then
• 10:24
  you
• 10:24
  go
• 10:25
  to
• 10:25
  where
• 10:25
  that,
• 10:25
  that
• 10:25
  that
• 10:26
  actual
• 10:26
  hospital
• 10:27
  or
• 10:27
  that
• 10:27
  facility
• 10:28
  holds
• 10:28
  their
• 10:28
  stock.
• 10:29
  And
• 10:29
  then
• 10:29
  you
• 10:29
  can
• 10:30
  see
• 10:30
  what
• 10:30
  they're
• 10:30
  ordering,
• 10:31
  how
• 10:31
  much
• 10:31
  they're
• 10:31
  ordering,
• 10:32
  and
• 10:32
  then
• 10:32
  start
• 10:32
  talking
• 10:33
  to
• 10:33
  'em
• 10:33
  about
• 10:33
  who's
• 10:34
  using,
• 10:34
  who's
• 10:35
  using
• 10:35
  it
• 10:35
  in
• 10:35
  the
• 10:35
  hospital
• 10:36
  and
• 10:36
  how
• 10:36
  much
• 10:36
  they're
• 10:36
  using
• 10:37
  it.
• 10:37
  Because
• 10:37
  you
• 10:38
  want
• 10:38
  to
• 10:38
  get
• 10:38
  a
• 10:38
  sense
• 10:39
  from
• 10:39
  that
• 10:39
  facility
• 10:40
  that
• 10:41
  they're
• 10:41
  not
• 10:41
  just
• 10:41
  holding
• 10:41
  stock
• 10:42
  on
• 10:42
  behalf
• 10:42
  of
• 10:43
  the
• 10:43
  distributor
• 10:43
  and
• 10:44
  there's
• 10:44
  actually
• 10:44
  clinical,
• 10:45
  necessity
• 10:46
  for
• 10:46
  how
• 10:46
  much
• 10:46
  the
• 10:46
  stock
• 10:47
  they've
• 10:47
  got
• 10:47
  there.
• 10:48
  And
• 10:48
  med
• 10:49
  tech.
• 10:49
  Innovations
• 10:50
  in
• 10:50
  this
• 10:50
  case
• 10:50
  study.
• 10:51
  Obviously
• 10:51
  we're
• 10:51
  not
• 10:52
  doing
• 10:52
  this.
• 10:52
  But
• 10:52
  to
• 10:53
  be
• 10:53
  fair,
• 10:54
  it's
• 10:54
  because
• 10:54
  the
• 10:54
  market
• 10:55
  was
• 10:55
  a
• 10:55
  long,
• 10:55
  long
• 10:55
  way
• 10:56
  away
• 10:56
  in
• 10:56
  this
• 10:56
  case
• 10:57
  study.
• 10:57
  But
• 10:57
  in
• 10:57
  reality,
• 10:58
  this
• 10:59
  shouldn't
• 10:59
  be
• 11:00
  a
• 11:00
  real
• 11:00
  excuse
• 11:01
  for
• 11:01
  them
• 11:01
  because
• 11:02
  the
• 11:02
  cost
• 11:02
  of
• 11:02
  a
• 11:03
  market
• 11:03
  visit
• 11:03
  even
• 11:04
  a
• 11:04
  very
• 11:05
  far
• 11:05
  off,
• 11:05
  country.
• 11:06
  Pales
• 11:07
  into
• 11:07
  insignificance
• 11:08
  compared
• 11:08
  to
• 11:08
  the
• 11:09
  cost
• 11:09
  of
• 11:09
  buying
• 11:09
  back
• 11:10
  years
• 11:11
  worth
• 11:11
  of
• 11:11
  stock,
• 11:12
  which
• 11:12
  is
• 11:12
  the
• 11:12
  situation
• 11:13
  they
• 11:13
  then
• 11:13
  found
• 11:14
  themselves
• 11:14
  in.
• 11:15
  So
• 11:15
  the
• 11:15
  action
• 11:15
  point
• 11:16
  here
• 11:16
  is
• 11:17
  make
• 11:17
  sure
• 11:18
  that
• 11:18
  whenever
• 11:19
  you're
• 11:19
  working
• 11:19
  with
• 11:19
  a
• 11:19
  distributor,
• 11:20
  you
• 11:20
  put
• 11:20
  in
• 11:21
  at
• 11:21
  least
• 11:22
  quarterly
• 11:22
  visits
• 11:23
  with
• 11:23
  your
• 11:23
  distributors
• 11:24
  and
• 11:24
  don't
• 11:25
  just
• 11:25
  go
• 11:25
  to
• 11:25
  the
• 11:25
  head
• 11:25
  office
• 11:26
  to
• 11:26
  discuss
• 11:26
  strategy.
• 11:27
  'cause
• 11:27
  I
• 11:27
  see
• 11:27
  this
• 11:27
  all
• 11:28
  the
• 11:28
  time
• 11:28
  and
• 11:28
  I'm
• 11:28
  sure
• 11:28
  you
• 11:28
  do
• 11:29
  that.
• 11:29
  People.
• 11:30
  When
• 11:30
  they're
• 11:31
  going
• 11:31
  on
• 11:31
  a,
• 11:31
  on
• 11:31
  a
• 11:31
  market
• 11:32
  visit,
• 11:32
  that
• 11:32
  what
• 11:33
  they
• 11:33
  mean
• 11:33
  by
• 11:33
  a
• 11:33
  market
• 11:33
  visit,
• 11:34
  I'm
• 11:34
  gonna
• 11:34
  see
• 11:34
  the
• 11:34
  distributor
• 11:35
  head
• 11:35
  office,
• 11:35
  I
• 11:36
  want
• 11:36
  to
• 11:36
  go
• 11:36
  around
• 11:36
  their
• 11:37
  office.
• 11:37
  I
• 11:37
  want
• 11:37
  to
• 11:37
  be
• 11:37
  have
• 11:37
  tea,
• 11:38
  I'm
• 11:38
  gonna
• 11:38
  have
• 11:38
  coffee,
• 11:38
  I'm
• 11:38
  gonna
• 11:38
  have
• 11:39
  lunch.
• 11:39
  They're
• 11:39
  gonna
• 11:39
  tell
• 11:40
  me,
• 11:40
  how
• 11:40
  great
• 11:41
  everything's
• 11:41
  going,
• 11:42
  or
• 11:42
  what
• 11:42
  the
• 11:43
  challenges
• 11:43
  are
• 11:43
  and
• 11:43
  why
• 11:43
  they
• 11:43
  can't
• 11:44
  sell
• 11:44
  as
• 11:44
  much.
• 11:45
  And
• 11:45
  then
• 11:45
  you're
• 11:45
  gonna
• 11:45
  leave
• 11:45
  and
• 11:45
  say,
• 11:46
  yeah,
• 11:46
  yeah,
• 11:46
  I've
• 11:46
  been
• 11:46
  to
• 11:46
  see
• 11:47
  that.
• 11:47
  I'll
• 11:47
  go
• 11:47
  back
• 11:47
  another
• 11:48
  three
• 11:48
  months
• 11:48
  or
• 11:49
  however
• 11:49
  long.
• 11:49
  And
• 11:49
  actually
• 11:49
  most
• 11:50
  people,
• 11:50
  will
• 11:50
  probably
• 11:51
  only
• 11:51
  go,
• 11:51
  every
• 11:52
  six
• 11:52
  months
• 11:52
  or
• 11:52
  once
• 11:52
  a
• 11:52
  year.
• 11:53
  It.
• 11:53
  But
• 11:53
  what
• 11:54
  I'm
• 11:54
  saying,
• 11:54
  when
• 11:54
  I'm
• 11:54
  talking
• 11:55
  market
• 11:55
  visits,
• 11:55
  I'm
• 11:55
  talking
• 11:55
  about
• 11:56
  in-market
• 11:56
  visits,
• 11:57
  get
• 11:57
  out
• 11:57
  with
• 11:58
  the
• 11:58
  salespeople
• 11:59
  in
• 11:59
  that
• 11:59
  distributor's
• 12:00
  team
• 12:01
  and
• 12:01
  go
• 12:01
  to
• 12:02
  the
• 12:02
  hospitals.
• 12:02
  'Cause
• 12:02
  you're
• 12:03
  gonna
• 12:03
  find
• 12:03
  that
• 12:03
  when
• 12:03
  you
• 12:04
  go
• 12:04
  out
• 12:04
  with
• 12:04
  salespeople,
• 12:04
  they're
• 12:05
  gonna
• 12:05
  be
• 12:05
  much
• 12:05
  more
• 12:05
  candid
• 12:06
  than
• 12:06
  directors
• 12:07
  because
• 12:07
  they're
• 12:08
  not
• 12:08
  as
• 12:08
  wedded
• 12:08
  to
• 12:09
  whatever
• 12:09
  the
• 12:09
  corporate
• 12:10
  line
• 12:10
  may
• 12:11
  well
• 12:11
  be.
• 12:12
  And
• 12:12
  don't
• 12:13
  just
• 12:13
  go
• 12:13
  out
• 12:13
  with
• 12:13
  one.
• 12:14
  If
• 12:14
  you're
• 12:14
  going
• 12:14
  to
• 12:15
  a
• 12:15
  market,
• 12:15
  as
• 12:15
  in
• 12:15
  the
• 12:15
  MedTech
• 12:16
  innovation
• 12:16
  situation,
• 12:17
  when
• 12:17
  a
• 12:17
  market
• 12:17
  is
• 12:18
  quite
• 12:18
  distant
• 12:18
  off,
• 12:19
  then
• 12:19
  book
• 12:19
  a
• 12:20
  five
• 12:20
  day
• 12:20
  field
• 12:21
  visit
• 12:21
  and
• 12:21
  then
• 12:22
  go
• 12:22
  out
• 12:22
  with
• 12:23
  the
• 12:23
  different
• 12:24
  reps
• 12:24
  on
• 12:24
  different
• 12:25
  days
• 12:25
  and,
• 12:25
  and
• 12:25
  maybe
• 12:26
  over
• 12:26
  three
• 12:26
  days
• 12:27
  because.
• 12:28
  allows
• 12:28
  you,
• 12:28
  that
• 12:28
  allows
• 12:29
  you
• 12:29
  to
• 12:29
  do
• 12:29
  is
• 12:30
  you're
• 12:30
  getting
• 12:31
  a
• 12:31
  different
• 12:31
  view
• 12:31
  from
• 12:32
  different
• 12:32
  markets.
• 12:32
  And
• 12:33
  even
• 12:34
  if
• 12:34
  the
• 12:34
  distributor,
• 12:35
  trust
• 12:35
  me,
• 12:35
  some
• 12:36
  distributors
• 12:36
  will
• 12:37
  tell
• 12:37
  their
• 12:37
  reps,
• 12:37
  this
• 12:37
  is
• 12:38
  what
• 12:38
  you
• 12:38
  can
• 12:38
  tell
• 12:38
  the
• 12:38
  manufacturer.
• 12:39
  Don't
• 12:39
  tell
• 12:39
  'em
• 12:39
  that.
• 12:40
  But
• 12:40
  when
• 12:40
  you're
• 12:40
  going
• 12:40
  out
• 12:40
  for
• 12:41
  three
• 12:41
  days
• 12:41
  with
• 12:42
  three
• 12:42
  different
• 12:42
  people
• 12:42
  in
• 12:43
  three
• 12:43
  different
• 12:43
  areas
• 12:43
  of
• 12:43
  the
• 12:43
  market,
• 12:44
  and
• 12:44
  you're
• 12:44
  speaking
• 12:45
  to
• 12:45
  hospitals
• 12:46
  and
• 12:46
  you're
• 12:46
  speaking
• 12:46
  to
• 12:46
  the
• 12:46
  reps
• 12:47
  all
• 12:47
  the
• 12:47
  time,
• 12:47
  you're
• 12:47
  in
• 12:47
  the
• 12:48
  car,
• 12:48
  it's
• 12:48
  very
• 12:49
  difficult
• 12:49
  for.
• 12:50
  Anybody
• 12:51
  to
• 12:51
  maintain,
• 12:52
  a
• 12:52
  situation
• 12:53
  which
• 12:53
  isn't
• 12:54
  in
• 12:54
  fact
• 12:54
  true,
• 12:54
  the
• 12:55
  truth
• 12:55
  will
• 12:55
  out
• 12:56
  as
• 12:56
  they
• 12:56
  say.
• 12:56
  So
• 12:57
  it's
• 12:57
  really
• 12:57
  important
• 12:58
  to
• 12:58
  do
• 12:58
  that
• 12:58
  and
• 12:59
  get
• 12:59
  close
• 13:00
  to
• 13:00
  the
• 13:00
  field
• 13:00
  for
• 13:01
  understanding
• 13:02
  what's
• 13:02
  happening
• 13:02
  with
• 13:02
  stock,
• 13:03
  understanding
• 13:03
  what's
• 13:03
  happening
• 13:03
  in
• 13:04
  the
• 13:04
  market,
• 13:04
  understanding
• 13:05
  what
• 13:05
  the
• 13:05
  challenges
• 13:06
  are,
• 13:06
  so
• 13:06
  in,
• 13:06
  in
• 13:07
  market
• 13:07
  visits
• 13:08
  are
• 13:08
  critical.
• 13:09
  And
• 13:09
  that
• 13:09
  then
• 13:09
  leads
• 13:09
  me
• 13:09
  onto
• 13:09
  the
• 13:10
  fourth
• 13:10
  key
• 13:11
  area
• 13:11
  and
• 13:11
  that
• 13:11
  stock
• 13:12
  checks.
• 13:12
  If
• 13:12
  you're
• 13:13
  going
• 13:13
  to
• 13:13
  the
• 13:13
  market,
• 13:14
  make
• 13:14
  sure
• 13:14
  that
• 13:15
  you've
• 13:15
  got
• 13:15
  a
• 13:15
  full
• 13:16
  itinerary,
• 13:16
  a
• 13:17
  full
• 13:17
  plan
• 13:17
  of
• 13:17
  the
• 13:18
  key
• 13:18
  things
• 13:18
  that
• 13:18
  you
• 13:18
  need
• 13:19
  to
• 13:19
  do
• 13:19
  while
• 13:19
  you're
• 13:19
  there,
• 13:19
  which
• 13:20
  are
• 13:20
  gonna
• 13:20
  give
• 13:20
  you
• 13:20
  the
• 13:20
  information
• 13:21
  you
• 13:21
  need
• 13:21
  to
• 13:21
  make
• 13:21
  the
• 13:22
  decisions,
• 13:22
  which
• 13:23
  are
• 13:23
  gonna
• 13:23
  help
• 13:23
  you
• 13:23
  actually
• 13:24
  grow
• 13:24
  your
• 13:24
  business.
• 13:25
  And
• 13:25
  one
• 13:26
  of
• 13:26
  those
• 13:26
  key
• 13:26
  things
• 13:27
  is
• 13:27
  checking
• 13:27
  stock
• 13:28
  in
• 13:28
  your
• 13:28
  distributors
• 13:29
  warehouse
• 13:30
  or
• 13:30
  factory
• 13:30
  or
• 13:30
  whatever
• 13:31
  they're
• 13:31
  holding
• 13:32
  it.
• 13:32
  And
• 13:33
  in
• 13:33
  this
• 13:33
  situation
• 13:34
  with
• 13:34
  MedTech
• 13:35
  innovations,
• 13:35
  this
• 13:35
  never
• 13:36
  happened.
• 13:36
  And
• 13:36
  to
• 13:36
  be
• 13:36
  honest,
• 13:37
  I
• 13:37
  can't
• 13:38
  be
• 13:38
  too
• 13:38
  critical
• 13:38
  of
• 13:39
  them
• 13:39
  specifically
• 13:40
  because
• 13:40
  very
• 13:41
  few
• 13:41
  companies
• 13:42
  follow
• 13:42
  this
• 13:42
  critical
• 13:43
  discipline.
• 13:44
  They
• 13:44
  should
• 13:44
  do,
• 13:45
  but
• 13:45
  they
• 13:45
  just
• 13:45
  don't.
• 13:45
  And
• 13:46
  had
• 13:46
  MedTech
• 13:47
  innovations
• 13:48
  been
• 13:48
  doing
• 13:48
  stock
• 13:48
  checks
• 13:49
  that
• 13:49
  have
• 13:49
  definitely
• 13:50
  picked
• 13:50
  this
• 13:50
  up
• 13:50
  within
• 13:50
  a
• 13:50
  matter
• 13:51
  of
• 13:51
  weeks
• 13:51
  or
• 13:51
  months
• 13:52
  or
• 13:52
  visits
• 13:53
  because
• 13:53
  when
• 13:53
  you're
• 13:54
  going,
• 13:54
  into
• 13:55
  someone's
• 13:55
  warehouse
• 13:56
  or
• 13:56
  wherever
• 13:56
  the
• 13:56
  hell
• 13:57
  the
• 13:57
  stock,
• 13:57
  then.
• 13:58
  If
• 13:59
  you
• 13:59
  can
• 13:59
  see
• 13:59
  that
• 13:59
  actually,
• 14:00
  well,
• 14:00
  they
• 14:00
  said
• 14:00
  they've
• 14:00
  got
• 14:00
  three
• 14:00
  months
• 14:01
  that
• 14:01
  looks
• 14:01
  a
• 14:01
  lot
• 14:02
  more
• 14:02
  than
• 14:02
  three
• 14:02
  months.
• 14:03
  And
• 14:03
  then
• 14:03
  when
• 14:03
  you
• 14:03
  go
• 14:03
  back
• 14:03
  the
• 14:03
  next
• 14:03
  time
• 14:04
  you're
• 14:04
  thinking,
• 14:04
  well,
• 14:05
  that's
• 14:05
  definitely
• 14:05
  more
• 14:05
  than
• 14:05
  three
• 14:05
  months,
• 14:06
  and
• 14:06
  it's
• 14:06
  definitely
• 14:06
  more
• 14:07
  than
• 14:07
  what
• 14:07
  they
• 14:07
  had
• 14:07
  last
• 14:07
  time.
• 14:08
  So
• 14:08
  you
• 14:08
  pick
• 14:08
  it
• 14:08
  up
• 14:09
  very
• 14:09
  quickly.
• 14:10
  So
• 14:10
  the
• 14:10
  action
• 14:10
  point
• 14:11
  is
• 14:11
  really,
• 14:12
  if
• 14:12
  you
• 14:12
  have
• 14:13
  a
• 14:13
  visit
• 14:13
  planned
• 14:14
  with
• 14:14
  any
• 14:14
  of
• 14:15
  your
• 14:15
  distributors,
• 14:16
  factor
• 14:16
  some
• 14:16
  time
• 14:17
  on
• 14:17
  that
• 14:17
  visit
• 14:18
  for
• 14:18
  a
• 14:18
  stock
• 14:18
  check.
• 14:19
  But
• 14:19
  only
• 14:20
  tell
• 14:20
  them
• 14:21
  when
• 14:21
  you
• 14:21
  get
• 14:21
  there,
• 14:21
  don't
• 14:22
  give
• 14:22
  them
• 14:22
  advanced
• 14:23
  warning
• 14:23
  and
• 14:23
  advance
• 14:24
  notice
• 14:24
  that
• 14:24
  you
• 14:24
  wanna
• 14:25
  do
• 14:25
  a
• 14:25
  stock
• 14:25
  check.
• 14:25
  Because
• 14:26
  if
• 14:26
  they
• 14:26
  are
• 14:26
  doing
• 14:26
  something
• 14:27
  shady,
• 14:27
  they're
• 14:27
  gonna
• 14:28
  start
• 14:28
  thinking
• 14:28
  of
• 14:28
  wave
• 14:29
  to
• 14:29
  hide
• 14:30
  that
• 14:30
  stock.
• 14:31
  And
• 14:31
  hopefully
• 14:31
  they're
• 14:31
  not
• 14:31
  doing
• 14:31
  anything
• 14:32
  shady,
• 14:32
  they
• 14:32
  may
• 14:32
  well
• 14:33
  be.
• 14:33
  So
• 14:33
  the
• 14:34
  good
• 14:34
  thing
• 14:34
  about
• 14:35
  springing
• 14:35
  on
• 14:36
  them
• 14:36
  is
• 14:36
  that
• 14:37
  if
• 14:38
  they
• 14:38
  have
• 14:38
  nothing
• 14:38
  to
• 14:38
  hide,
• 14:39
  they
• 14:39
  don't
• 14:39
  have
• 14:39
  a
• 14:39
  problem
• 14:39
  with
• 14:39
  it.
• 14:40
  If
• 14:40
  they
• 14:40
  do
• 14:40
  have
• 14:40
  something
• 14:41
  to
• 14:41
  hide,
• 14:41
  they'll
• 14:41
  then
• 14:41
  start
• 14:42
  trying
• 14:42
  to
• 14:42
  find
• 14:43
  reasons
• 14:43
  why
• 14:43
  you
• 14:43
  can't
• 14:44
  go
• 14:44
  there,
• 14:45
  which
• 14:45
  then
• 14:45
  give
• 14:45
  you
• 14:46
  a
• 14:46
  red
• 14:46
  flag.
• 14:47
  And
• 14:47
  then
• 14:47
  if
• 14:48
  and
• 14:48
  when
• 14:48
  they
• 14:48
  do
• 14:48
  let
• 14:48
  you
• 14:49
  go
• 14:49
  there,
• 14:49
  then
• 14:50
  at
• 14:50
  least
• 14:50
  you
• 14:51
  can
• 14:51
  see
• 14:51
  with
• 14:51
  your
• 14:52
  own
• 14:52
  eyes
• 14:52
  they've
• 14:52
  got
• 14:53
  the
• 14:53
  stock
• 14:53
  that
• 14:53
  they
• 14:54
  said
• 14:54
  they
• 14:54
  have.
• 14:55
  And
• 14:55
  if
• 14:55
  they've
• 14:55
  got
• 14:56
  too
• 14:56
  much
• 14:56
  stock,
• 14:56
  you
• 14:56
  can
• 14:56
  see.
• 14:57
  Very,
• 14:58
  very
• 14:58
  clearly.
• 14:59
  So
• 14:59
  it's
• 14:59
  a
• 14:59
  really
• 15:00
  critical
• 15:00
  part
• 15:01
  of
• 15:01
  managing
• 15:01
  this.
• 15:02
  A
• 15:02
  distributor
• 15:02
  going
• 15:03
  to
• 15:03
  look
• 15:03
  at
• 15:03
  your
• 15:03
  stock
• 15:04
  and
• 15:04
  going
• 15:04
  to
• 15:04
  see
• 15:04
  what's
• 15:04
  happening
• 15:05
  in
• 15:05
  that
• 15:05
  warehouse.
• 15:06
  And
• 15:06
  if
• 15:06
  you
• 15:06
  haven't
• 15:07
  got
• 15:07
  a
• 15:07
  visit
• 15:07
  planned
• 15:07
  yet,
• 15:08
  then
• 15:08
  go
• 15:08
  and
• 15:08
  plan
• 15:09
  one,
• 15:09
  with
• 15:10
  all
• 15:10
  your
• 15:10
  distributors
• 15:11
  and
• 15:11
  incorporate
• 15:12
  obviously
• 15:12
  head
• 15:13
  office
• 15:13
  meetings,
• 15:14
  field
• 15:14
  visits,
• 15:15
  and.
• 15:15
  Most
• 15:16
  importantly,
• 15:16
  stock
• 15:17
  checks.
• 15:17
  Don't
• 15:18
  put
• 15:18
  it
• 15:18
  off.
• 15:18
  Go
• 15:19
  and
• 15:19
  do
• 15:19
  that
• 15:19
  now
• 15:20
  or
• 15:20
  after
• 15:20
  this
• 15:20
  podcast,
• 15:21
  go
• 15:21
  and
• 15:22
  actually
• 15:22
  start
• 15:22
  looking
• 15:23
  at
• 15:23
  all
• 15:23
  the
• 15:23
  distributors
• 15:23
  you've
• 15:23
  got
• 15:24
  and
• 15:25
  when
• 15:25
  you're
• 15:25
  gonna
• 15:25
  go
• 15:25
  and
• 15:25
  see
• 15:26
  them.
• 15:26
  And
• 15:26
  actually
• 15:27
  having
• 15:27
  that
• 15:27
  conversation
• 15:28
  with
• 15:28
  your
• 15:28
  distributors
• 15:29
  about
• 15:30
  what's
• 15:30
  the
• 15:30
  best
• 15:30
  time
• 15:31
  for
• 15:31
  you
• 15:31
  to
• 15:31
  come
• 15:31
  there
• 15:32
  and
• 15:33
  what
• 15:33
  you're
• 15:33
  gonna
• 15:34
  do
• 15:34
  when
• 15:34
  you're
• 15:34
  on
• 15:34
  the
• 15:34
  field
• 15:34
  with
• 15:34
  it.
• 15:35
  But
• 15:35
  not
• 15:35
  including
• 15:35
  the
• 15:35
  stock
• 15:36
  checks.
• 15:36
  Just
• 15:36
  do,
• 15:36
  just
• 15:37
  pull
• 15:37
  out
• 15:37
  the
• 15:37
  stock
• 15:37
  checks
• 15:37
  when
• 15:38
  you
• 15:38
  get
• 15:38
  there.
• 15:38
  And
• 15:38
  then
• 15:39
  if
• 15:39
  a
• 15:39
  distributor
• 15:39
  is
• 15:40
  telling
• 15:40
  you
• 15:40
  the
• 15:40
  truth,
• 15:40
  they
• 15:41
  shouldn't
• 15:41
  have
• 15:41
  any.
• 15:42
  Issue
• 15:43
  with
• 15:43
  it.
• 15:43
  So
• 15:43
  now
• 15:43
  you've
• 15:43
  done
• 15:44
  those
• 15:44
  four.
• 15:45
  We're
• 15:45
  gonna
• 15:45
  move
• 15:45
  on
• 15:45
  to
• 15:45
  a
• 15:45
  bit
• 15:46
  more
• 15:46
  structural
• 15:46
  things.
• 15:47
  So
• 15:47
  the
• 15:47
  fifth
• 15:48
  key
• 15:48
  area
• 15:49
  is
• 15:49
  all
• 15:49
  around
• 15:50
  agreements
• 15:51
  and
• 15:51
  structures.
• 15:52
  And
• 15:52
  to
• 15:52
  be
• 15:52
  fair,
• 15:53
  in
• 15:53
  this
• 15:53
  case
• 15:54
  study
• 15:54
  with
• 15:54
  the
• 15:55
  Med
• 15:55
  Tech
• 15:55
  Innovations,
• 15:56
  I
• 15:56
  didn't
• 15:56
  see
• 15:56
  their
• 15:57
  agreements.
• 15:58
  And
• 15:58
  I
• 15:58
  want,
• 15:58
  I'm
• 15:58
  talking
• 15:58
  about
• 15:59
  distributor
• 15:59
  agreements
• 16:00
  that
• 16:00
  they
• 16:00
  had
• 16:00
  with
• 16:00
  their
• 16:00
  distributor.
• 16:01
  So
• 16:01
  I
• 16:01
  can't
• 16:02
  comment
• 16:02
  on
• 16:03
  how,
• 16:03
  that
• 16:04
  was
• 16:04
  specifically
• 16:05
  structured
• 16:05
  for
• 16:06
  MedTech
• 16:06
  innovations.
• 16:07
  But
• 16:07
  I
• 16:07
  do
• 16:07
  know.
• 16:08
  That
• 16:08
  most
• 16:08
  companies
• 16:09
  don't
• 16:10
  realize
• 16:11
  that
• 16:11
  how
• 16:11
  their
• 16:11
  agreement
• 16:12
  can
• 16:12
  complicate
• 16:13
  a
• 16:13
  situation
• 16:14
  such
• 16:14
  as
• 16:14
  this
• 16:15
  I
• 16:15
  excess
• 16:15
  stock.
• 16:16
  Because
• 16:17
  if
• 16:17
  you
• 16:17
  don't
• 16:17
  ensure
• 16:18
  that
• 16:19
  in
• 16:19
  your
• 16:20
  agreement
• 16:20
  that
• 16:20
  you
• 16:21
  have
• 16:21
  that
• 16:21
  you've
• 16:21
  looked
• 16:22
  at
• 16:22
  a
• 16:22
  buyback
• 16:22
  agreement,
• 16:23
  most
• 16:23
  people
• 16:23
  look
• 16:24
  at
• 16:24
  when
• 16:24
  everything's
• 16:24
  going
• 16:24
  well,
• 16:25
  this
• 16:25
  is
• 16:25
  what
• 16:25
  we
• 16:25
  want,
• 16:25
  but
• 16:26
  obviously.
• 16:26
  You
• 16:27
  always
• 16:27
  have
• 16:27
  to
• 16:27
  have
• 16:28
  an
• 16:28
  agreement
• 16:28
  just
• 16:28
  like
• 16:28
  you'd
• 16:29
  have
• 16:29
  an
• 16:29
  employment
• 16:29
  contract.
• 16:30
  When
• 16:30
  things
• 16:31
  don't
• 16:31
  go
• 16:31
  well,
• 16:32
  what's
• 16:32
  the
• 16:32
  process?
• 16:33
  And
• 16:33
  if
• 16:33
  you
• 16:33
  don't
• 16:34
  put
• 16:34
  sensible
• 16:35
  things
• 16:35
  in
• 16:35
  there
• 16:36
  that
• 16:36
  can
• 16:36
  lead
• 16:37
  to
• 16:37
  the
• 16:37
  problems
• 16:38
  that
• 16:38
  we
• 16:38
  had
• 16:39
  and
• 16:39
  we
• 16:39
  saw
• 16:40
  in
• 16:40
  this
• 16:40
  case
• 16:40
  study.
• 16:41
  And
• 16:41
  what
• 16:41
  the
• 16:41
  sensible
• 16:42
  thing
• 16:42
  that
• 16:42
  I'm
• 16:42
  talking
• 16:42
  about
• 16:43
  is,
• 16:43
  for
• 16:43
  example,
• 16:44
  you
• 16:45
  need
• 16:45
  to
• 16:45
  have
• 16:45
  a
• 16:45
  certain
• 16:46
  amount
• 16:47
  of
• 16:47
  shelf
• 16:47
  life
• 16:48
  left
• 16:49
  or
• 16:49
  run
• 16:49
  on
• 16:50
  your
• 16:50
  products.
• 16:51
  So
• 16:51
  if
• 16:51
  you
• 16:51
  put
• 16:52
  that
• 16:52
  within
• 16:53
  your
• 16:53
  agreement
• 16:53
  saying
• 16:54
  that
• 16:54
  actually
• 16:54
  the
• 16:54
  expiry
• 16:55
  date
• 16:55
  could
• 16:55
  not
• 16:55
  be,
• 16:56
  six
• 16:56
  months.
• 16:57
  Or
• 16:57
  or
• 16:57
  less
• 16:58
  when,
• 16:58
  if
• 16:58
  you're
• 16:59
  gonna
• 16:59
  buy
• 16:59
  back
• 16:59
  stock,
• 17:00
  that
• 17:00
  then
• 17:00
  means
• 17:00
  that
• 17:00
  people
• 17:01
  aren't
• 17:01
  gonna
• 17:01
  buy
• 17:02
  loads
• 17:02
  and
• 17:02
  loads
• 17:02
  of
• 17:02
  stock
• 17:03
  because
• 17:04
  you're
• 17:04
  not
• 17:04
  gonna
• 17:04
  buy
• 17:04
  it
• 17:04
  back
• 17:05
  then.
• 17:05
  That's
• 17:05
  that,
• 17:05
  that's
• 17:06
  one
• 17:06
  of
• 17:06
  the
• 17:06
  things
• 17:06
  you
• 17:06
  can
• 17:06
  put
• 17:07
  into
• 17:07
  a
• 17:07
  contract.
• 17:07
  Another
• 17:08
  thing
• 17:08
  you
• 17:08
  can
• 17:08
  put
• 17:08
  in
• 17:09
  a
• 17:09
  contract
• 17:09
  is
• 17:09
  that
• 17:09
  you
• 17:09
  can't
• 17:10
  have,
• 17:10
  which
• 17:10
  is
• 17:11
  just
• 17:11
  another
• 17:11
  way
• 17:11
  of
• 17:12
  talking
• 17:12
  out
• 17:12
  the
• 17:12
  shelf
• 17:12
  life,
• 17:13
  you
• 17:13
  can't
• 17:13
  have
• 17:13
  any
• 17:13
  more
• 17:14
  than
• 17:15
  X
• 17:15
  months
• 17:15
  worth
• 17:16
  of
• 17:16
  stock.
• 17:16
  So
• 17:16
  you
• 17:16
  might
• 17:16
  say,
• 17:17
  well,
• 17:17
  we're
• 17:17
  only
• 17:17
  gonna
• 17:18
  guarantee
• 17:18
  that
• 17:18
  we
• 17:18
  will
• 17:18
  buy
• 17:19
  about
• 17:19
  three
• 17:19
  months
• 17:20
  worth
• 17:20
  of
• 17:20
  stock.
• 17:21
  That
• 17:21
  again,
• 17:22
  would
• 17:22
  then
• 17:22
  mean
• 17:23
  that
• 17:23
  in
• 17:23
  this
• 17:24
  SI
• 17:24
  situation,
• 17:25
  then
• 17:26
  the
• 17:26
  Med
• 17:26
  Tech
• 17:26
  Innovations
• 17:27
  distributor
• 17:28
  wouldn't
• 17:28
  have
• 17:28
  wrapped
• 17:29
  up
• 17:29
  all
• 17:29
  that
• 17:29
  stock
• 17:29
  because
• 17:30
  they
• 17:30
  would've
• 17:30
  thought,
• 17:30
  oh,
• 17:30
  actually
• 17:30
  no
• 17:30
  one's
• 17:30
  gonna
• 17:31
  buy
• 17:31
  it
• 17:31
  back.
• 17:31
  And
• 17:32
  then
• 17:32
  the
• 17:32
  other
• 17:32
  thing.
• 17:32
  That
• 17:33
  you
• 17:33
  want
• 17:33
  to
• 17:33
  put
• 17:33
  in
• 17:34
  there
• 17:34
  is
• 17:35
  that
• 17:35
  if
• 17:35
  they
• 17:35
  have
• 17:36
  more
• 17:36
  than
• 17:36
  whatever
• 17:37
  you
• 17:37
  agree
• 17:37
  to
• 17:37
  months,
• 17:38
  three
• 17:38
  months
• 17:38
  worth
• 17:38
  of
• 17:38
  stock,
• 17:39
  you
• 17:39
  say
• 17:39
  that
• 17:39
  they
• 17:39
  actually
• 17:40
  can't
• 17:40
  sell
• 17:40
  that
• 17:40
  on
• 17:40
  the
• 17:40
  open
• 17:41
  market
• 17:41
  either.
• 17:41
  They
• 17:42
  have
• 17:42
  to
• 17:42
  destroy
• 17:42
  it,
• 17:42
  it
• 17:43
  can't
• 17:43
  be
• 17:43
  used.
• 17:43
  So
• 17:44
  there's
• 17:44
  other,
• 17:44
  there's
• 17:44
  things
• 17:45
  that
• 17:45
  you
• 17:45
  can
• 17:45
  put
• 17:45
  in
• 17:46
  which
• 17:46
  actually,
• 17:46
  if
• 17:47
  a
• 17:47
  distributor
• 17:47
  is
• 17:47
  working
• 17:48
  in
• 17:48
  good
• 17:48
  faith,
• 17:49
  they're
• 17:49
  not
• 17:49
  gonna
• 17:49
  have
• 17:49
  any
• 17:50
  issue
• 17:50
  with
• 17:50
  signing
• 17:50
  that
• 17:50
  in
• 17:51
  the
• 17:51
  contracts,
• 17:51
  because
• 17:52
  why
• 17:52
  would
• 17:52
  they
• 17:52
  need
• 17:53
  to
• 17:53
  run
• 17:53
  up
• 17:53
  loads
• 17:54
  of
• 17:54
  stock?
• 17:54
  Why
• 17:54
  would
• 17:54
  they
• 17:55
  need
• 17:55
  to
• 17:55
  have
• 17:55
  stock
• 17:56
  that's
• 17:56
  going
• 17:56
  out
• 17:56
  of
• 17:56
  date,
• 17:56
  et
• 17:57
  cetera?
• 17:57
  Why
• 17:57
  would
• 17:58
  they
• 17:58
  need
• 17:58
  to
• 17:58
  be
• 17:58
  trying
• 17:59
  to.
• 17:59
  Dump
• 17:59
  stock
• 18:00
  in
• 18:00
  the
• 18:00
  market.
• 18:00
  So
• 18:01
  these
• 18:01
  three
• 18:02
  things,
• 18:02
  and
• 18:02
  there's
• 18:02
  lots
• 18:03
  of
• 18:03
  others
• 18:03
  that
• 18:03
  you
• 18:03
  can
• 18:04
  put
• 18:04
  in,
• 18:04
  but
• 18:04
  the,
• 18:04
  these
• 18:04
  three
• 18:05
  would
• 18:05
  have
• 18:06
  protected,
• 18:07
  MedTech
• 18:07
  innovations
• 18:08
  from
• 18:08
  the
• 18:08
  situation
• 18:09
  they
• 18:09
  find
• 18:10
  themselves
• 18:10
  in.
• 18:10
  Because
• 18:11
  if
• 18:11
  you
• 18:11
  don't
• 18:11
  have
• 18:11
  those
• 18:12
  protections,
• 18:13
  then.
• 18:13
  You
• 18:13
  could
• 18:14
  be
• 18:14
  in
• 18:14
  for
• 18:15
  absolute
• 18:16
  world
• 18:16
  of
• 18:16
  pain.
• 18:17
  And
• 18:17
  if
• 18:17
  you
• 18:17
  do
• 18:18
  have
• 18:18
  that
• 18:18
  in
• 18:18
  your
• 18:18
  contract,
• 18:19
  then
• 18:19
  it
• 18:19
  would
• 18:19
  be
• 18:19
  a
• 18:19
  massive
• 18:20
  disincentive
• 18:21
  to
• 18:21
  your
• 18:21
  distributor
• 18:22
  hold
• 18:22
  stock.
• 18:23
  And
• 18:23
  then
• 18:23
  if
• 18:23
  they
• 18:23
  did,
• 18:24
  it
• 18:24
  wouldn't
• 18:24
  actually
• 18:24
  affect
• 18:25
  you
• 18:25
  or
• 18:25
  the
• 18:25
  market.
• 18:26
  It
• 18:26
  would
• 18:26
  only
• 18:27
  affect
• 18:27
  themselves.
• 18:28
  So
• 18:28
  in
• 18:28
  recap,
• 18:29
  the
• 18:29
  key
• 18:29
  things
• 18:30
  to
• 18:30
  take
• 18:30
  away
• 18:31
  from
• 18:31
  this
• 18:32
  situation,
• 18:32
  which
• 18:33
  happened,
• 18:33
  and
• 18:34
  they're
• 18:34
  exposed
• 18:34
  from
• 18:35
  over
• 18:35
  a
• 18:35
  million
• 18:35
  pounds.
• 18:36
  So
• 18:36
  the
• 18:36
  key
• 18:36
  things
• 18:37
  to
• 18:37
  take
• 18:37
  away,
• 18:38
  number
• 18:38
  one,
• 18:38
  regular
• 18:39
  communications
• 18:40
  and
• 18:40
  transparent
• 18:41
  reporting.
• 18:42
  Put
• 18:43
  in
• 18:43
  a
• 18:43
  cadence,
• 18:44
  put
• 18:44
  in,
• 18:44
  do
• 18:45
  you
• 18:45
  want
• 18:45
  reports
• 18:46
  weekly?
• 18:46
  Do
• 18:46
  you
• 18:46
  want
• 18:46
  it
• 18:46
  monthly?
• 18:47
  Do
• 18:47
  you
• 18:47
  want
• 18:47
  it
• 18:47
  quarterly?
• 18:48
  But
• 18:48
  make
• 18:48
  sure
• 18:48
  that
• 18:48
  you're
• 18:49
  getting
• 18:49
  regular
• 18:49
  reports
• 18:50
  so
• 18:50
  their
• 18:50
  market
• 18:50
  reports,
• 18:51
  so
• 18:51
  you
• 18:51
  know
• 18:51
  what's
• 18:51
  going
• 18:51
  out
• 18:52
  into
• 18:52
  the
• 18:52
  market
• 18:52
  and
• 18:53
  then
• 18:53
  what
• 18:54
  they're
• 18:54
  buying
• 18:55
  and
• 18:55
  then.
• 18:55
  Any
• 18:56
  and
• 18:56
  a
• 18:56
  factor
• 18:57
  in
• 18:57
  inventory
• 18:58
  audits.
• 18:59
  And
• 18:59
  then
• 18:59
  what
• 19:00
  The
• 19:00
  other
• 19:00
  big
• 19:00
  thing
• 19:00
  I
• 19:00
  was
• 19:00
  talking
• 19:01
  about
• 19:01
  was
• 19:01
  market
• 19:01
  visits.
• 19:02
  Infield
• 19:03
  activity
• 19:04
  stock
• 19:04
  takes
• 19:05
  bring
• 19:05
  in
• 19:05
  external
• 19:06
  market
• 19:06
  insights
• 19:07
  to
• 19:07
  inform
• 19:08
  your
• 19:08
  partnerships
• 19:09
  and
• 19:09
  your
• 19:09
  inventory
• 19:10
  strategy.
• 19:10
  So
• 19:11
  you're
• 19:11
  making
• 19:11
  sure
• 19:11
  that
• 19:11
  you're
• 19:11
  getting
• 19:12
  really
• 19:12
  close
• 19:13
  to
• 19:13
  the
• 19:13
  distributor.
• 19:14
  And
• 19:14
  the
• 19:15
  market,
• 19:15
  not
• 19:15
  just
• 19:16
  the
• 19:16
  distributor.
• 19:16
  'cause
• 19:16
  the
• 19:16
  last
• 19:17
  thing
• 19:17
  you
• 19:17
  want
• 19:17
  is
• 19:18
  the
• 19:18
  only
• 19:18
  information
• 19:19
  that
• 19:19
  you
• 19:19
  have
• 19:19
  is
• 19:19
  coming
• 19:19
  from
• 19:20
  the
• 19:20
  distributor.
• 19:20
  'cause
• 19:21
  if
• 19:21
  you're
• 19:21
  in
• 19:21
  that
• 19:21
  situation,
• 19:22
  how
• 19:22
  are
• 19:22
  you
• 19:22
  gonna
• 19:22
  challenge
• 19:22
  them?
• 19:23
  How
• 19:23
  are
• 19:23
  you
• 19:23
  gonna,
• 19:24
  understand
• 19:24
  what's
• 19:24
  really
• 19:25
  going
• 19:25
  on?
• 19:25
  And
• 19:26
  if
• 19:26
  you
• 19:26
  then
• 19:27
  need
• 19:27
  to
• 19:27
  change
• 19:27
  distributor,
• 19:28
  what
• 19:28
  value
• 19:28
  are
• 19:28
  you
• 19:29
  really
• 19:29
  offering
• 19:30
  to
• 19:30
  the
• 19:30
  new
• 19:30
  distributor
• 19:31
  in
• 19:31
  terms
• 19:31
  of
• 19:32
  insights
• 19:32
  into
• 19:32
  the
• 19:32
  market?
• 19:33
  You
• 19:33
  can't,
• 19:33
  you
• 19:33
  just
• 19:33
  have
• 19:34
  to
• 19:34
  say,
• 19:34
  well,
• 19:34
  speak
• 19:34
  to
• 19:34
  the,
• 19:35
  the
• 19:35
  other
• 19:35
  distributor.
• 19:36
  Speak
• 19:36
  to
• 19:36
  the
• 19:36
  outgoing
• 19:37
  distributor
• 19:38
  who's
• 19:38
  obviously
• 19:38
  very
• 19:38
  unhappy
• 19:39
  with
• 19:39
  the
• 19:39
  fact
• 19:40
  that
• 19:40
  you're
• 19:40
  kicking
• 19:40
  him
• 19:40
  out.
• 19:41
  So
• 19:41
  you
• 19:41
  have
• 19:41
  to
• 19:41
  speak
• 19:41
  to
• 19:41
  that
• 19:41
  distributor.
• 19:42
  You
• 19:42
  have
• 19:43
  to
• 19:43
  get
• 19:43
  that
• 19:43
  distributor
• 19:43
  to
• 19:43
  speak
• 19:44
  to
• 19:44
  your
• 19:44
  new
• 19:44
  distributor.
• 19:45
  That's
• 19:45
  not
• 19:45
  a
• 19:45
  situation
• 19:46
  that
• 19:46
  you
• 19:46
  want
• 19:46
  to
• 19:46
  be
• 19:46
  in.
• 19:46
  You
• 19:47
  want
• 19:47
  to
• 19:47
  be
• 19:47
  able
• 19:47
  to
• 19:48
  take
• 19:48
  the
• 19:48
  information
• 19:49
  that
• 19:49
  you've
• 19:49
  been
• 19:49
  garnering
• 19:50
  from
• 19:50
  the,
• 19:51
  the
• 19:51
  old
• 19:51
  distributor
• 19:52
  for
• 19:52
  a
• 19:52
  period
• 19:52
  of
• 19:52
  time,
• 19:53
  and
• 19:53
  you
• 19:53
  wanna
• 19:53
  be
• 19:53
  able
• 19:53
  to
• 19:53
  sit
• 19:54
  down
• 19:54
  with
• 19:54
  a
• 19:54
  new
• 19:54
  distributor
• 19:55
  and
• 19:55
  go
• 19:55
  through
• 19:56
  with
• 19:56
  your
• 19:56
  own
• 19:57
  market
• 19:57
  intelligence
• 19:57
  and
• 19:58
  the
• 19:58
  market
• 19:58
  intelligence
• 19:59
  that
• 19:59
  you've
• 19:59
  been
• 19:59
  garnering
• 20:00
  from
• 20:00
  the
• 20:01
  old
• 20:01
  distributor.
• 20:01
  And
• 20:02
  then
• 20:02
  lastly,
• 20:02
  we
• 20:03
  talked
• 20:03
  about
• 20:03
  setting
• 20:04
  the
• 20:04
  distributor
• 20:05
  agreement
• 20:05
  up
• 20:05
  correctly
• 20:06
  in
• 20:06
  the
• 20:07
  first
• 20:07
  place.
• 20:08
  So
• 20:08
  if
• 20:08
  you
• 20:09
  set
• 20:09
  up
• 20:09
  the
• 20:09
  distribution
• 20:10
  agreement
• 20:11
  in
• 20:11
  the
• 20:11
  right
• 20:11
  way
• 20:12
  when
• 20:12
  you
• 20:12
  first
• 20:12
  start,
• 20:13
  then
• 20:13
  it
• 20:13
  lead.
• 20:14
  It
• 20:14
  means
• 20:14
  that
• 20:14
  you
• 20:14
  don't
• 20:15
  have
• 20:15
  misunderstanding
• 20:16
  and
• 20:16
  all
• 20:16
  those
• 20:16
  things
• 20:17
  that
• 20:17
  we've
• 20:17
  talked
• 20:17
  about
• 20:17
  earlier.
• 20:18
  IE
• 20:18
  regular
• 20:19
  communications,
• 20:20
  transparent
• 20:20
  reporting,
• 20:21
  market
• 20:22
  visits,
• 20:23
  stock
• 20:23
  takes
• 20:23
  and
• 20:24
  all
• 20:24
  that
• 20:24
  sort
• 20:24
  of
• 20:24
  stuff.
• 20:24
  They
• 20:25
  can
• 20:25
  be
• 20:25
  written
• 20:25
  into
• 20:26
  the
• 20:26
  contract,
• 20:27
  and
• 20:27
  as
• 20:27
  I
• 20:27
  said,
• 20:28
  the
• 20:29
  amount
• 20:29
  of
• 20:29
  stock
• 20:29
  that
• 20:30
  they
• 20:30
  can
• 20:30
  hold
• 20:30
  and
• 20:30
  all
• 20:31
  those
• 20:31
  sorts
• 20:31
  of
• 20:31
  things.
• 20:32
  If
• 20:32
  they're
• 20:32
  in
• 20:32
  the
• 20:32
  contract,
• 20:33
  there's
• 20:33
  no
• 20:33
  ambiguity.
• 20:34
  They've
• 20:35
  agreed
• 20:35
  and
• 20:35
  they've
• 20:35
  signed
• 20:36
  to
• 20:36
  do
• 20:36
  it,
• 20:36
  and
• 20:36
  that's
• 20:37
  the
• 20:37
  best
• 20:37
  time
• 20:37
  to
• 20:37
  do
• 20:37
  it
• 20:38
  because
• 20:38
  when
• 20:38
  you're
• 20:38
  signing
• 20:38
  an
• 20:38
  agreement,
• 20:39
  everyone's
• 20:39
  positive,
• 20:40
  everyone
• 20:40
  really
• 20:41
  wants
• 20:41
  to
• 20:41
  move
• 20:41
  forward.
• 20:42
  That's
• 20:42
  the
• 20:42
  time
• 20:42
  to
• 20:42
  put
• 20:43
  those
• 20:43
  clauses
• 20:43
  in.
• 20:44
  And
• 20:44
  it's
• 20:44
  incumbent
• 20:45
  upon
• 20:45
  you
• 20:45
  as
• 20:45
  a
• 20:45
  manufacturer,
• 20:46
  to
• 20:47
  make
• 20:47
  sure
• 20:48
  that
• 20:48
  you
• 20:49
  are
• 20:49
  always
• 20:49
  thinking
• 20:50
  about,
• 20:50
  not
• 20:50
  just
• 20:51
  is
• 20:51
  it
• 20:51
  gonna
• 20:51
  go
• 20:51
  well,
• 20:52
  and
• 20:52
  when
• 20:52
  it
• 20:52
  goes
• 20:52
  well,
• 20:52
  what
• 20:52
  do
• 20:53
  we
• 20:53
  do?
• 20:53
  But
• 20:53
  if
• 20:53
  it
• 20:53
  went
• 20:54
  wrong,
• 20:54
  what
• 20:55
  are
• 20:55
  those
• 20:55
  mitigations,
• 20:56
  what
• 20:56
  are
• 20:56
  those
• 20:56
  clauses
• 20:57
  we
• 20:57
  need
• 20:57
  in
• 20:57
  there
• 20:58
  to
• 20:58
  make
• 20:58
  sure
• 20:58
  that
• 20:58
  we're
• 20:58
  covered
• 20:59
  if
• 21:00
  we
• 21:00
  have
• 21:00
  a
• 21:01
  challenge?
• 21:01
  So
• 21:02
  please
• 21:03
  go
• 21:03
  and
• 21:03
  review.
• 21:04
  Where
• 21:04
  you
• 21:04
  sit
• 21:05
  on
• 21:05
  these
• 21:06
  key
• 21:06
  points
• 21:07
  to
• 21:07
  ensure
• 21:07
  that
• 21:08
  you
• 21:08
  don't
• 21:08
  fall
• 21:09
  into
• 21:09
  that
• 21:09
  gap
• 21:10
  and
• 21:10
  that
• 21:10
  trap
• 21:11
  that
• 21:11
  MedTech
• 21:12
  innovations
• 21:12
  did,
• 21:13
  it's
• 21:13
  not
• 21:13
  that
• 21:13
  difficult.
• 21:14
  And
• 21:14
  if
• 21:15
  you
• 21:15
  do
• 21:15
  it
• 21:15
  at
• 21:15
  the
• 21:16
  outset,
• 21:16
  you're
• 21:17
  never
• 21:17
  gonna
• 21:17
  get
• 21:17
  to
• 21:18
  the
• 21:18
  situation
• 21:19
  that
• 21:19
  MedTech
• 21:19
  innovations
• 21:20
  found
• 21:21
  having
• 21:21
  an
• 21:21
  exposure
• 21:22
  of
• 21:22
  over
• 21:22
  a
• 21:22
  million
• 21:23
  pounds.
• 21:23
  So
• 21:23
  to
• 21:24
  wrap
• 21:24
  this
• 21:24
  up.
• 21:24
  Make
• 21:24
  sure
• 21:25
  you
• 21:25
  keep
• 21:25
  your
• 21:26
  eyes
• 21:26
  wide
• 21:26
  open
• 21:27
  and
• 21:27
  you
• 21:27
  keep
• 21:27
  close
• 21:28
  to
• 21:28
  your
• 21:28
  distributor.
• 21:29
  Don't
• 21:30
  let
• 21:30
  complacency
• 21:31
  creep
• 21:31
  into
• 21:31
  your
• 21:31
  distributor
• 21:32
  relationships,
• 21:32
  because
• 21:32
  it's
• 21:32
  very
• 21:32
  easy
• 21:33
  when
• 21:33
  you're
• 21:33
  getting
• 21:33
  on
• 21:33
  with
• 21:33
  people
• 21:34
  and
• 21:34
  that's,
• 21:34
  and
• 21:34
  the
• 21:34
  sales
• 21:35
  are
• 21:35
  going
• 21:35
  out
• 21:35
  because
• 21:36
  the
• 21:36
  stakes
• 21:37
  are
• 21:37
  too
• 21:37
  high.
• 21:37
  It
• 21:38
  might
• 21:38
  seem
• 21:38
  great,
• 21:38
  and
• 21:39
  then
• 21:39
  all
• 21:39
  of
• 21:39
  a
• 21:39
  sudden
• 21:39
  you've
• 21:39
  got
• 21:40
  millions
• 21:40
  of
• 21:40
  pounds
• 21:41
  worth
• 21:41
  of
• 21:41
  exposure.
• 21:41
  So
• 21:42
  it's
• 21:42
  really
• 21:42
  time
• 21:43
  for
• 21:43
  you
• 21:43
  to
• 21:43
  take
• 21:43
  charge
• 21:44
  of
• 21:45
  your
• 21:45
  distributor
• 21:46
  and
• 21:46
  demand
• 21:46
  transparency,
• 21:47
  and
• 21:47
  prepare
• 21:48
  for
• 21:48
  things
• 21:49
  that
• 21:49
  may
• 21:50
  well
• 21:51
  go
• 21:51
  wrong.
• 21:51
  So
• 21:52
  now
• 21:52
  before
• 21:52
  I
• 21:52
  close,
• 21:53
  today's
• 21:54
  case
• 21:54
  study
• 21:55
  was
• 21:55
  all
• 21:55
  about
• 21:56
  going
• 21:56
  through
• 21:57
  a
• 21:57
  situation
• 21:58
  that
• 21:58
  occurred
• 21:58
  and
• 21:59
  really
• 21:59
  talking
• 21:59
  about
• 21:59
  how
• 22:00
  you
• 22:00
  could
• 22:01
  mitigate
• 22:02
  finding
• 22:02
  yourself
• 22:03
  in
• 22:03
  that
• 22:03
  position.
• 22:04
  So
• 22:04
  what
• 22:04
  I'm
• 22:04
  gonna
• 22:04
  now
• 22:05
  do
• 22:05
  is
• 22:05
  give
• 22:05
  you
• 22:05
  a
• 22:05
  decision
• 22:06
  scenario,
• 22:07
  which
• 22:08
  I'll
• 22:08
  go
• 22:08
  through
• 22:08
  in
• 22:09
  detail
• 22:09
  in
• 22:09
  the
• 22:09
  next
• 22:09
  episode,
• 22:10
  and
• 22:10
  that's
• 22:11
  gonna
• 22:11
  be
• 22:11
  more
• 22:11
  about
• 22:12
  what
• 22:12
  to
• 22:12
  do
• 22:13
  if
• 22:13
  you
• 22:13
  find
• 22:14
  yourself
• 22:14
  in
• 22:15
  the
• 22:15
  similar
• 22:15
  scenario.
• 22:16
  Of
• 22:16
  the
• 22:16
  case
• 22:16
  study
• 22:17
  IE
• 22:17
  you've
• 22:17
  got
• 22:18
  IE
• 22:18
  you've
• 22:18
  been
• 22:19
  working
• 22:19
  with
• 22:20
  a
• 22:20
  distributor
• 22:20
  for
• 22:20
  some
• 22:20
  time.
• 22:21
  You're
• 22:21
  getting
• 22:21
  manual
• 22:22
  updates
• 22:22
  on
• 22:23
  progress,
• 22:23
  and
• 22:24
  then
• 22:24
  you
• 22:24
  find
• 22:25
  that
• 22:25
  they're
• 22:25
  holding
• 22:25
  twice
• 22:26
  as
• 22:26
  much
• 22:26
  stock
• 22:27
  than
• 22:27
  they
• 22:27
  had
• 22:27
  been
• 22:27
  telling
• 22:28
  you.
• 22:28
  So
• 22:29
  the
• 22:29
  question
• 22:30
  really
• 22:30
  is,
• 22:31
  what
• 22:31
  do
• 22:31
  you
• 22:31
  do?
• 22:32
  Do
• 22:32
  you
• 22:32
  a
• 22:33
  schedule
• 22:33
  a
• 22:33
  meeting
• 22:33
  with
• 22:33
  your
• 22:33
  distributor
• 22:34
  immediately
• 22:35
  requesting
• 22:35
  a
• 22:36
  full
• 22:36
  disclosure
• 22:36
  on
• 22:37
  stock
• 22:37
  levels
• 22:37
  and
• 22:37
  sales
• 22:38
  data?
• 22:38
  Do
• 22:38
  you
• 22:39
  b
• 22:39
  develop
• 22:40
  contingency
• 22:40
  plans?
• 22:41
  You,
• 22:41
  I,
• 22:41
  you
• 22:42
  don't
• 22:42
  confront
• 22:42
  your
• 22:42
  distributor
• 22:43
  directly,
• 22:43
  but
• 22:43
  you
• 22:43
  develop
• 22:44
  internal
• 22:45
  contingency
• 22:45
  plans,
• 22:46
  so,
• 22:46
  such
• 22:46
  as
• 22:46
  alternative
• 22:47
  distributors
• 22:48
  and
• 22:48
  looking
• 22:49
  at,
• 22:49
  what
• 22:49
  you
• 22:49
  can
• 22:49
  do
• 22:50
  with
• 22:50
  the
• 22:50
  stock
• 22:50
  if
• 22:50
  you,
• 22:51
  you
• 22:51
  did
• 22:51
  have
• 22:51
  to
• 22:51
  buy
• 22:51
  it
• 22:51
  back.
• 22:52
  And
• 22:52
  then
• 22:52
  c
• 22:53
  do
• 22:53
  you
• 22:53
  engage
• 22:54
  a
• 22:54
  third
• 22:54
  party
• 22:54
  consultant
• 22:55
  to
• 22:55
  assess
• 22:55
  and
• 22:55
  mediate
• 22:56
  the
• 22:56
  distributor
• 22:56
  relationship?
• 22:57
  Because
• 22:58
  obviously
• 22:58
  the
• 22:58
  distributor
• 22:58
  relationship
• 22:59
  has
• 22:59
  broken
• 22:59
  down
• 22:59
  a
• 22:59
  bit,
• 23:00
  so
• 23:00
  you
• 23:01
  want
• 23:01
  to
• 23:01
  get
• 23:01
  someone
• 23:01
  else
• 23:02
  in
• 23:02
  who,
• 23:03
  um,
• 23:03
  is
• 23:04
  an
• 23:04
  independent
• 23:04
  third
• 23:05
  party,
• 23:05
  or
• 23:05
  do
• 23:05
  you
• 23:05
  d
• 23:06
  strengthen
• 23:07
  internal
• 23:07
  team
• 23:08
  meetings
• 23:09
  at
• 23:09
  team
• 23:10
  meetings
• 23:10
  to
• 23:10
  closely
• 23:11
  track
• 23:12
  stock
• 23:12
  levels?
• 23:13
  So
• 23:13
  have
• 23:14
  a
• 23:14
  think
• 23:14
  about
• 23:14
  that
• 23:15
  and
• 23:15
  I'm
• 23:16
  gonna
• 23:16
  go
• 23:16
  through
• 23:16
  that
• 23:17
  on
• 23:17
  the
• 23:18
  next
• 23:18
  episode.
• 23:19
  And
• 23:19
  if
• 23:19
  you're
• 23:19
  building
• 23:20
  a
• 23:20
  MedTech
• 23:20
  business
• 23:21
  and
• 23:21
  you're
• 23:21
  not
• 23:21
  sure
• 23:22
  what
• 23:22
  your
• 23:22
  next
• 23:22
  move
• 23:23
  should
• 23:23
  be,
• 23:23
  whether
• 23:24
  that's
• 23:24
  evidence,
• 23:25
  market
• 23:25
  access,
• 23:26
  commercialization,
• 23:27
  distribution,
• 23:27
  strategy
• 23:28
  or
• 23:28
  adoption,
• 23:29
  don't
• 23:30
  guess
• 23:30
  because
• 23:31
  if
• 23:31
  you're
• 23:31
  speaking
• 23:31
  to
• 23:31
  the
• 23:31
  wrong
• 23:32
  stakeholders,
• 23:33
  nothing
• 23:33
  is
• 23:33
  gonna
• 23:33
  land.
• 23:34
  So
• 23:34
  book
• 23:35
  a
• 23:35
  healthcare
• 23:35
  export
• 23:36
  accelerator
• 23:36
  diagnostic
• 23:37
  call
• 23:37
  with
• 23:37
  me
• 23:38
  using
• 23:38
  the
• 23:38
  link
• 23:39
  in
• 23:39
  the
• 23:39
  show
• 23:39
  notes.
• 23:40
  And
• 23:40
  on
• 23:40
  that
• 23:40
  call,
• 23:40
  we'll
• 23:41
  map
• 23:41
  your
• 23:41
  decision
• 23:42
  making
• 23:42
  unit
• 23:42
  together
• 23:43
  so
• 23:43
  that
• 23:43
  you
• 23:43
  can
• 23:43
  clearly
• 23:44
  see
• 23:44
  who
• 23:45
  actually
• 23:45
  makes
• 23:45
  the
• 23:46
  decisions
• 23:46
  in
• 23:46
  your
• 23:46
  market,
• 23:47
  what's
• 23:47
  blocking
• 23:48
  your
• 23:48
  progress,
• 23:49
  and
• 23:49
  the
• 23:49
  next
• 23:49
  commercial
• 23:50
  move
• 23:50
  that
• 23:50
  you
• 23:50
  need
• 23:51
  to
• 23:51
  take
• 23:51
  to
• 23:51
  unlock
• 23:52
  momentum.
• 23:53
  Until
• 23:53
  next
• 23:53
  time,
• 23:54
  thanks
• 23:54
  for
• 23:54
  listening.
• 23:55
  Keep
• 23:55
  challenging
• 23:56
  your
• 23:56
  assumptions
• 23:57
  and
• 23:57
  keep
• 23:57
  growing.