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#178 | Generate Scaleable Revenue As A Clinician By Answering The Toughest Investor Question In Medtech With This HACK · Clinician to CEO : Export Your Medical Device With Confidence By Overcoming Go To Market Roadblocks For Medtech Growth

• 0:00
  If
• 0:00
  this
• 0:00
  device
• 0:01
  is
• 0:01
  so
• 0:01
  good,
• 0:01
  why
• 0:02
  isn't
• 0:02
  anyone
• 0:03
  already
• 0:03
  using
• 0:03
  it?
• 0:04
  Now,
• 0:04
  this
• 0:05
  is
• 0:05
  one
• 0:05
  of
• 0:05
  the
• 0:05
  most
• 0:06
  dangerous
• 0:06
  questions
• 0:06
  a
• 0:07
  MedTech
• 0:07
  founder
• 0:08
  can
• 0:08
  hear
• 0:08
  from
• 0:09
  an
• 0:09
  investor,
• 0:09
  and
• 0:10
  in
• 0:10
  this
• 0:10
  episode,
• 0:11
  you'll
• 0:11
  learn
• 0:12
  how
• 0:12
  to
• 0:12
  answer
• 0:12
  it
• 0:12
  in
• 0:13
  a
• 0:13
  way
• 0:13
  that
• 0:13
  builds
• 0:13
  confidence
• 0:14
  rather
• 0:15
  than
• 0:15
  accidentally
• 0:16
  killing
• 0:16
  the
• 0:16
  room.
• 0:17
  Welcome
• 0:17
  to
• 0:17
  Clinician
• 0:18
  to
• 0:18
  CEO,
• 0:19
  the
• 0:19
  podcast
• 0:20
  helping
• 0:20
  clinicians
• 0:21
  simplify
• 0:21
  your
• 0:22
  go-to-market
• 0:22
  strategy
• 0:23
  so
• 0:23
  that
• 0:23
  you
• 0:23
  can
• 0:24
  stop
• 0:24
  guessing
• 0:25
  and
• 0:25
  turn
• 0:25
  your
• 0:26
  working
• 0:26
  prototypes
• 0:27
  into
• 0:27
  international
• 0:28
  MedTech
• 0:28
  businesses.
• 0:29
  I'm
• 0:29
  your
• 0:30
  host,
• 0:30
  Hakeem
• 0:30
  Aade.
• 0:31
  Let's
• 0:32
  get
• 0:32
  started.
• 0:33
  So
• 0:33
  at
• 0:33
  the
• 0:33
  end
• 0:34
  of
• 0:34
  the
• 0:34
  last
• 0:34
  episode,
• 0:35
  I
• 0:35
  gave
• 0:35
  you
• 0:35
  a
• 0:35
  decision
• 0:36
  scenario.
• 0:37
  You're
• 0:37
  pitching
• 0:37
  investors,
• 0:38
  you're
• 0:38
  explaining
• 0:39
  the
• 0:39
  product.
• 0:39
  You're
• 0:39
  talking
• 0:40
  about
• 0:40
  the
• 0:40
  opportunity,
• 0:41
  you're
• 0:41
  showing
• 0:42
  the
• 0:42
  clinical
• 0:42
  impact.
• 0:43
  Then
• 0:43
  one
• 0:43
  of
• 0:43
  them
• 0:44
  stops
• 0:44
  you
• 0:44
  and
• 0:45
  he
• 0:45
  says,
• 0:45
  just
• 0:46
  a
• 0:46
  minute.
• 0:46
  If
• 0:46
  this
• 0:47
  device
• 0:47
  is
• 0:47
  so
• 0:48
  good,
• 0:48
  why
• 0:49
  isn't
• 0:49
  anyone
• 0:49
  already
• 0:49
  using
• 0:50
  it?
• 0:50
  Now
• 0:51
  this
• 0:51
  is
• 0:51
  a
• 0:51
  brilliant
• 0:52
  question.
• 0:52
  Not
• 0:53
  because
• 0:53
  the
• 0:53
  investor
• 0:54
  is
• 0:54
  trying
• 0:54
  to
• 0:54
  be
• 0:54
  awkward,
• 0:55
  although
• 0:55
  sometimes
• 0:56
  they
• 0:56
  are
• 0:56
  obviously,
• 0:57
  and
• 0:57
  not
• 0:57
  because
• 0:58
  they've
• 0:58
  suddenly
• 0:59
  become
• 0:59
  a
• 0:59
  clinician,
• 0:59
  because
• 1:00
  trust
• 1:00
  me,
• 1:00
  they
• 1:00
  haven't.
• 1:01
  But
• 1:01
  it's
• 1:01
  a
• 1:01
  brilliant
• 1:02
  question
• 1:02
  because
• 1:03
  hidden
• 1:03
  inside
• 1:03
  it
• 1:04
  is
• 1:04
  the
• 1:04
  real.
• 1:05
  Commercial
• 1:06
  issue.
• 1:06
  They're
• 1:06
  not
• 1:07
  just
• 1:07
  asking
• 1:08
  whether
• 1:08
  the
• 1:08
  product
• 1:09
  works,
• 1:09
  they're
• 1:10
  asking
• 1:10
  whether
• 1:11
  the
• 1:11
  market
• 1:11
  is
• 1:12
  ready,
• 1:12
  whether
• 1:12
  hospitals
• 1:13
  will
• 1:13
  adopt
• 1:13
  it,
• 1:14
  whether
• 1:14
  the
• 1:14
  evidence
• 1:15
  is
• 1:15
  strong
• 1:15
  enough,
• 1:16
  and
• 1:16
  whether
• 1:16
  the
• 1:16
  business
• 1:17
  can
• 1:17
  actually
• 1:18
  scale.
• 1:19
  In
• 1:19
  other
• 1:19
  words,
• 1:20
  they're
• 1:20
  asking,
• 1:21
  is
• 1:21
  this
• 1:21
  a
• 1:21
  product
• 1:22
  problem
• 1:23
  or
• 1:23
  is
• 1:23
  this
• 1:23
  an
• 1:24
  adoption
• 1:24
  problem?
• 1:25
  And
• 1:25
  if
• 1:25
  you
• 1:25
  answer
• 1:26
  badly,
• 1:26
  you
• 1:27
  can
• 1:27
  make
• 1:27
  a
• 1:27
  good
• 1:27
  business.
• 1:28
  Sound
• 1:28
  weak.
• 1:29
  So
• 1:29
  let's
• 1:29
  get
• 1:30
  back
• 1:30
  to
• 1:30
  the
• 1:30
  options
• 1:31
  that
• 1:31
  I
• 1:31
  gave
• 1:31
  you
• 1:31
  in
• 1:31
  the
• 1:31
  last
• 1:32
  episode.
• 1:32
  The
• 1:33
  question
• 1:33
  was,
• 1:33
  do
• 1:34
  you
• 1:34
  say,
• 1:34
  A,
• 1:35
  we're
• 1:35
  still
• 1:35
  gathering
• 1:36
  more
• 1:36
  data
• 1:37
  before
• 1:37
  the
• 1:38
  hospitals
• 1:38
  adopt
• 1:38
  it,
• 1:39
  or
• 1:39
  do
• 1:39
  you
• 1:39
  say,
• 1:39
  B?
• 1:40
  The
• 1:40
  clinical
• 1:41
  and
• 1:41
  economic
• 1:42
  proof
• 1:42
  isn't
• 1:43
  strong
• 1:43
  enough
• 1:44
  yet?
• 1:44
  C.
• 1:45
  We're
• 1:45
  currently
• 1:45
  running
• 1:46
  studies
• 1:46
  to
• 1:46
  generate
• 1:47
  the
• 1:47
  evidence
• 1:47
  hospitals
• 1:48
  need,
• 1:48
  or
• 1:49
  D.
• 1:49
  We
• 1:49
  identified
• 1:50
  the
• 1:50
  evidence
• 1:51
  gap
• 1:51
  early
• 1:51
  and
• 1:52
  we
• 1:52
  are
• 1:52
  running
• 1:52
  targeted
• 1:53
  studies
• 1:53
  to
• 1:53
  close
• 1:53
  it.
• 1:54
  The
• 1:54
  best
• 1:54
  answer
• 1:55
  is
• 1:55
  D.
• 1:56
  We
• 1:56
  identified
• 1:57
  the
• 1:57
  evidence
• 1:57
  gap
• 1:57
  early
• 1:58
  and
• 1:58
  we're
• 1:58
  running
• 1:58
  targeted
• 1:59
  studies
• 1:59
  to
• 1:59
  close
• 2:00
  it.
• 2:00
  That's
• 2:01
  the
• 2:01
  best
• 2:01
  answer
• 2:02
  because
• 2:02
  it
• 2:02
  does
• 2:02
  three
• 2:02
  things
• 2:03
  at
• 2:03
  once.
• 2:03
  Firstly,
• 2:04
  it
• 2:04
  shows
• 2:04
  awareness.
• 2:05
  Secondly,
• 2:06
  it
• 2:07
  shows
• 2:07
  leadership.
• 2:08
  Thirdly,
• 2:09
  it
• 2:09
  shows
• 2:09
  that
• 2:09
  you
• 2:09
  have
• 2:09
  a
• 2:09
  plan.
• 2:10
  And
• 2:10
  then
• 2:10
  obviously
• 2:11
  you
• 2:11
  have
• 2:11
  to
• 2:11
  demonstrate
• 2:11
  that
• 2:11
  you've
• 2:11
  got
• 2:12
  the
• 2:12
  plan.
• 2:12
  Of
• 2:12
  course.
• 2:13
  And
• 2:13
  those
• 2:13
  three
• 2:14
  things
• 2:14
  matter
• 2:15
  because
• 2:15
  investors
• 2:16
  are
• 2:16
  not
• 2:17
  expecting
• 2:17
  perfection.
• 2:18
  They
• 2:19
  know
• 2:19
  that
• 2:19
  early
• 2:19
  stage
• 2:20
  med
• 2:20
  tech
• 2:20
  companies
• 2:21
  do
• 2:21
  not
• 2:21
  always
• 2:21
  have
• 2:21
  mass
• 2:22
  adoption
• 2:22
  on
• 2:22
  day
• 2:22
  one.
• 2:23
  That
• 2:23
  would
• 2:23
  be
• 2:23
  lovely,
• 2:24
  obviously.
• 2:25
  But
• 2:25
  this
• 2:25
  is
• 2:25
  healthcare
• 2:26
  and
• 2:26
  it's
• 2:26
  not
• 2:26
  just
• 2:26
  another
• 2:27
  launch
• 2:27
  of
• 2:28
  your
• 2:28
  favorite
• 2:28
  trainers
• 2:29
  or
• 2:29
  sneakers.
• 2:30
  What
• 2:30
  they
• 2:30
  do
• 2:30
  expect
• 2:31
  is
• 2:31
  that
• 2:32
  you
• 2:32
  understand
• 2:33
  the
• 2:33
  gap
• 2:33
  between
• 2:34
  a
• 2:34
  good
• 2:34
  product
• 2:35
  and
• 2:35
  real
• 2:35
  adoption.
• 2:36
  They
• 2:36
  want
• 2:36
  you
• 2:36
  to
• 2:37
  understand
• 2:37
  what's
• 2:37
  blocking
• 2:38
  that
• 2:38
  adoption
• 2:39
  and
• 2:39
  that
• 2:39
  you're
• 2:39
  closing
• 2:40
  that
• 2:40
  gap
• 2:41
  intentionally.
• 2:42
  That's
• 2:42
  why
• 2:42
  D
• 2:43
  is
• 2:43
  so
• 2:43
  strong.
• 2:44
  It
• 2:44
  tells
• 2:44
  them
• 2:45
  we
• 2:45
  know
• 2:46
  what
• 2:46
  the
• 2:46
  issue
• 2:46
  is.
• 2:47
  We
• 2:47
  spotted
• 2:48
  it
• 2:48
  early.
• 2:48
  We
• 2:49
  are
• 2:49
  not
• 2:49
  being
• 2:49
  reactive.
• 2:50
  We
• 2:50
  are
• 2:50
  running
• 2:51
  the
• 2:51
  right
• 2:51
  studies
• 2:52
  for
• 2:52
  the
• 2:52
  right
• 2:52
  reasons.
• 2:53
  That
• 2:53
  sound
• 2:54
  investible.
• 2:55
  Now
• 2:55
  let's
• 2:55
  look
• 2:56
  at
• 2:56
  why
• 2:56
  the
• 2:56
  other
• 2:56
  answers
• 2:57
  fall
• 2:57
  short.
• 2:58
  Option
• 2:58
  A
• 2:58
  was
• 2:59
  we're
• 2:59
  still
• 2:59
  gathering
• 2:59
  more
• 3:00
  data
• 3:00
  before
• 3:00
  the
• 3:01
  hospitals
• 3:01
  adopt
• 3:02
  it.
• 3:02
  Now
• 3:03
  that
• 3:03
  sounds
• 3:03
  passive.
• 3:04
  It
• 3:04
  sounds
• 3:04
  like
• 3:04
  you
• 3:04
  are
• 3:04
  waiting,
• 3:05
  it
• 3:05
  sounds
• 3:05
  like
• 3:05
  you're
• 3:06
  hoping
• 3:06
  for
• 3:06
  something.
• 3:07
  It
• 3:07
  sounds
• 3:07
  like
• 3:07
  the
• 3:07
  plan
• 3:08
  is
• 3:08
  basically,
• 3:09
  let's
• 3:09
  get
• 3:09
  some
• 3:09
  more
• 3:09
  data
• 3:10
  and
• 3:10
  then
• 3:10
  maybe
• 3:10
  some
• 3:11
  magic
• 3:11
  is
• 3:11
  gonna
• 3:11
  happen.
• 3:12
  The
• 3:12
  problem
• 3:12
  with
• 3:12
  this
• 3:13
  with
• 3:13
  a
• 3:14
  it's
• 3:14
  not
• 3:14
  that
• 3:15
  it's
• 3:15
  completely
• 3:15
  wrong,
• 3:16
  the
• 3:16
  problem
• 3:16
  is
• 3:17
  that
• 3:17
  it
• 3:17
  makes
• 3:17
  you
• 3:18
  sound
• 3:18
  as
• 3:18
  though
• 3:18
  the
• 3:18
  market
• 3:19
  is
• 3:19
  happening
• 3:19
  to
• 3:20
  you
• 3:20
  rather
• 3:21
  than
• 3:21
  being
• 3:21
  driven
• 3:21
  by
• 3:22
  you.
• 3:22
  And
• 3:22
  that
• 3:22
  is
• 3:23
  a
• 3:23
  killer
• 3:23
  in
• 3:23
  an
• 3:24
  investor
• 3:24
  conversation
• 3:25
  because
• 3:25
  investors,
• 3:26
  back
• 3:26
  teams
• 3:26
  to
• 3:26
  create
• 3:27
  momentum,
• 3:28
  not
• 3:28
  teams
• 3:28
  that
• 3:28
  stand
• 3:28
  next
• 3:29
  to
• 3:29
  the
• 3:29
  evidence
• 3:29
  machine
• 3:30
  waiting
• 3:30
  for
• 3:31
  it
• 3:31
  to.
• 3:31
  Then
• 3:31
  we
• 3:32
  move
• 3:32
  on
• 3:32
  to
• 3:32
  option
• 3:32
  B.
• 3:33
  The
• 3:33
  clinical
• 3:34
  and
• 3:34
  economic
• 3:35
  proof
• 3:35
  isn't
• 3:35
  strong
• 3:35
  enough
• 3:36
  yet.
• 3:36
  Now
• 3:36
  this
• 3:37
  may
• 3:37
  well
• 3:37
  be
• 3:37
  true.
• 3:38
  In
• 3:38
  fact,
• 3:38
  it
• 3:39
  may
• 3:39
  be
• 3:39
  brutally
• 3:40
  true,
• 3:40
  but
• 3:40
  saying
• 3:41
  it
• 3:41
  in
• 3:41
  this
• 3:42
  manner
• 3:42
  is
• 3:42
  like
• 3:43
  turning
• 3:43
  up
• 3:43
  to
• 3:43
  a
• 3:43
  job
• 3:44
  interview
• 3:44
  and
• 3:45
  then
• 3:45
  saying
• 3:45
  to
• 3:46
  the
• 3:46
  interviewer,
• 3:47
  well,
• 3:47
  to
• 3:47
  be
• 3:47
  honest,
• 3:48
  I'm
• 3:48
  not
• 3:49
  really
• 3:49
  ready
• 3:49
  for
• 3:49
  this
• 3:49
  opportunity,
• 3:50
  but
• 3:50
  thank
• 3:50
  for
• 3:50
  seeing
• 3:51
  me
• 3:51
  anyway.
• 3:51
  You're
• 3:52
  naming
• 3:52
  the
• 3:52
  problem,
• 3:53
  but
• 3:53
  you're
• 3:53
  not
• 3:53
  framing
• 3:54
  it
• 3:54
  properly.
• 3:55
  There's
• 3:55
  no
• 3:55
  control
• 3:56
  in
• 3:56
  that
• 3:56
  answer.
• 3:56
  There's
• 3:57
  no
• 3:57
  strategy.
• 3:57
  There's
• 3:57
  no
• 3:58
  sign
• 3:58
  that
• 3:58
  you
• 3:58
  know
• 3:59
  how
• 3:59
  to
• 3:59
  close
• 3:59
  that
• 3:59
  gap.
• 4:00
  So
• 4:00
  why
• 4:01
  would
• 4:01
  they
• 4:01
  be
• 4:01
  interested?
• 4:02
  It
• 4:02
  just
• 4:02
  leaves
• 4:02
  the
• 4:02
  investor
• 4:03
  with
• 4:03
  a
• 4:03
  loose,
• 4:04
  very
• 4:04
  unpleasant
• 4:04
  thought
• 4:05
  running
• 4:05
  through
• 4:05
  their
• 4:05
  mind.
• 4:06
  Right.
• 4:06
  Okay.
• 4:06
  So
• 4:07
  the
• 4:07
  evidence
• 4:07
  isn't
• 4:08
  good
• 4:08
  enough
• 4:08
  yet.
• 4:09
  Great.
• 4:09
  So
• 4:10
  why
• 4:10
  on
• 4:10
  earth
• 4:10
  I
• 4:10
  here
• 4:11
  the
• 4:11
  truth
• 4:11
  obviously
• 4:12
  matters,
• 4:13
  but
• 4:13
  raw
• 4:13
  truth
• 4:14
  without
• 4:14
  commercial
• 4:15
  framing
• 4:16
  is
• 4:16
  just
• 4:16
  self-sabotage
• 4:17
  dressed
• 4:18
  up
• 4:18
  as
• 4:18
  something
• 4:19
  else.
• 4:19
  So
• 4:20
  the
• 4:20
  answer
• 4:20
  is
• 4:20
  definitely
• 4:21
  not
• 4:21
  Option
• 4:22
  B.
• 4:23
  Let's
• 4:23
  have
• 4:23
  a
• 4:23
  look
• 4:23
  at
• 4:23
  option
• 4:23
  C.
• 4:24
  We
• 4:24
  are
• 4:24
  currently
• 4:25
  running
• 4:25
  studies
• 4:26
  to
• 4:26
  generate
• 4:26
  the
• 4:26
  evidence
• 4:27
  hospitals
• 4:27
  need.
• 4:28
  Now,
• 4:28
  this
• 4:29
  is
• 4:29
  definitely
• 4:29
  better
• 4:30
  because
• 4:30
  it's
• 4:30
  at
• 4:30
  least
• 4:31
  an
• 4:31
  active
• 4:31
  answer.
• 4:32
  It
• 4:32
  shows
• 4:32
  movement,
• 4:33
  it
• 4:33
  shows
• 4:33
  that
• 4:33
  you're
• 4:33
  doing
• 4:34
  something,
• 4:34
  but
• 4:34
  it's
• 4:35
  still
• 4:35
  a
• 4:35
  bit
• 4:35
  generic
• 4:36
  and
• 4:36
  a
• 4:36
  bit
• 4:36
  too
• 4:36
  generic
• 4:36
  for
• 4:37
  me
• 4:37
  because
• 4:37
  it
• 4:37
  says
• 4:38
  that
• 4:38
  you're
• 4:38
  running
• 4:38
  studies,
• 4:39
  but
• 4:39
  it
• 4:39
  does
• 4:39
  not
• 4:39
  say
• 4:40
  why
• 4:40
  those
• 4:40
  studies
• 4:41
  are
• 4:41
  being
• 4:41
  chosen.
• 4:42
  It
• 4:42
  doesn't
• 4:42
  say
• 4:42
  how
• 4:43
  deliberate
• 4:43
  the
• 4:43
  process
• 4:44
  is
• 4:44
  or
• 4:44
  that
• 4:44
  you
• 4:44
  really
• 4:45
  understand
• 4:46
  the
• 4:46
  adoption
• 4:46
  pathway.
• 4:47
  So
• 4:47
  see
• 4:47
  is
• 4:47
  decent.
• 4:49
  But
• 4:49
  D
• 4:50
  is
• 4:50
  definitely
• 4:50
  stronger
• 4:51
  because
• 4:52
  D
• 4:52
  adds
• 4:53
  that
• 4:53
  missing
• 4:53
  ingredient.
• 4:54
  It
• 4:54
  adds
• 4:55
  in
• 4:55
  intentionality
• 4:57
  because
• 4:58
  we
• 4:58
  identified
• 4:59
  the
• 5:00
  evidence
• 5:00
  gap
• 5:00
  early
• 5:01
  and
• 5:01
  we
• 5:01
  are
• 5:01
  running
• 5:02
  targeted
• 5:02
  studies
• 5:02
  to
• 5:02
  close
• 5:03
  it.
• 5:03
  It
• 5:03
  is
• 5:03
  that
• 5:04
  word
• 5:04
  that
• 5:04
  targeted
• 5:05
  that
• 5:05
  matters
• 5:06
  because
• 5:06
  now
• 5:07
  you're
• 5:07
  not
• 5:08
  just
• 5:08
  collecting
• 5:09
  evidence,
• 5:09
  you're
• 5:09
  collecting
• 5:10
  the
• 5:10
  right
• 5:10
  evidence,
• 5:11
  and
• 5:11
  that's
• 5:11
  the
• 5:12
  difference
• 5:12
  between
• 5:13
  a
• 5:13
  founder
• 5:13
  who
• 5:13
  understands
• 5:14
  healthcare
• 5:14
  adoption
• 5:15
  and
• 5:15
  generating
• 5:15
  the
• 5:16
  specific
• 5:16
  evidence
• 5:17
  to
• 5:17
  drive
• 5:17
  it,
• 5:18
  versus
• 5:18
  one
• 5:19
  who's
• 5:19
  producing
• 5:19
  lots
• 5:20
  of
• 5:20
  studies
• 5:20
  and
• 5:20
  papers
• 5:21
  with
• 5:21
  no
• 5:21
  clear
• 5:22
  commercial
• 5:22
  purpose.
• 5:23
  Hospitals
• 5:24
  do
• 5:24
  not
• 5:25
  adopt
• 5:25
  products
• 5:25
  because
• 5:26
  founders
• 5:26
  are
• 5:26
  passionate.
• 5:27
  They
• 5:27
  don't
• 5:27
  adopt
• 5:28
  products
• 5:28
  because
• 5:28
  the
• 5:28
  device
• 5:29
  looks
• 5:29
  clever.
• 5:30
  They
• 5:30
  don't
• 5:30
  adopt
• 5:30
  products
• 5:31
  because
• 5:31
  your
• 5:31
  slide
• 5:32
  deck.
• 5:32
  Says
• 5:33
  transformational
• 5:34
  in
• 5:34
  size
• 5:34
  28
• 5:35
  font.
• 5:36
  They
• 5:36
  adopt
• 5:36
  products.
• 5:37
  When
• 5:37
  the
• 5:37
  clinical
• 5:38
  case
• 5:38
  is
• 5:38
  clear,
• 5:39
  the
• 5:39
  economic
• 5:39
  case
• 5:40
  is
• 5:40
  believable
• 5:41
  and
• 5:41
  the
• 5:41
  operational
• 5:41
  case
• 5:42
  makes
• 5:42
  sense.
• 5:43
  So
• 5:43
  when
• 5:44
  you
• 5:44
  say
• 5:44
  that
• 5:44
  you
• 5:44
  identified
• 5:45
  the
• 5:45
  evidence
• 5:46
  gap
• 5:46
  early
• 5:46
  and
• 5:46
  are
• 5:46
  running
• 5:47
  targeted
• 5:47
  studies
• 5:48
  to
• 5:48
  close
• 5:48
  it,
• 5:48
  what
• 5:49
  you're
• 5:49
  actually
• 5:49
  telling
• 5:50
  the
• 5:50
  investor
• 5:51
  is,
• 5:51
  we
• 5:52
  know
• 5:52
  adoption
• 5:53
  is
• 5:53
  evidence
• 5:53
  led.
• 5:53
  We
• 5:54
  know
• 5:54
  what
• 5:54
  kind
• 5:55
  of
• 5:55
  proof
• 5:55
  matters,
• 5:55
  and
• 5:56
  we're
• 5:56
  building
• 5:57
  that
• 5:57
  proof
• 5:58
  on
• 5:58
  purpose,
• 5:59
  and
• 5:59
  we
• 6:00
  understand
• 6:00
  that
• 6:01
  reimbursement
• 6:01
  workflow
• 6:03
  and
• 6:03
  buying
• 6:03
  decisions
• 6:04
  all
• 6:04
  sit
• 6:05
  downstream
• 6:05
  of
• 6:06
  achieving
• 6:06
  those
• 6:07
  things.
• 6:07
  That's
• 6:08
  now
• 6:08
  a
• 6:08
  serious
• 6:08
  answer.
• 6:09
  And
• 6:09
  the
• 6:09
  real
• 6:10
  lesson.
• 6:10
  If
• 6:11
  bigger
• 6:11
  than
• 6:11
  one
• 6:11
  investor
• 6:12
  question,
• 6:12
  too
• 6:13
  many
• 6:13
  MedTech
• 6:13
  founders
• 6:14
  think
• 6:14
  the
• 6:14
  goal
• 6:15
  is
• 6:15
  to
• 6:15
  prove
• 6:15
  the
• 6:15
  product
• 6:16
  works.
• 6:16
  That's
• 6:16
  not
• 6:17
  enough.
• 6:17
  You
• 6:17
  need
• 6:18
  to
• 6:18
  prove
• 6:18
  that
• 6:18
  the
• 6:18
  product
• 6:19
  can
• 6:19
  get
• 6:19
  used
• 6:20
  repeatedly,
• 6:21
  safely,
• 6:22
  economically,
• 6:23
  and
• 6:23
  in
• 6:24
  the
• 6:24
  real
• 6:24
  world
• 6:25
  because
• 6:25
  a
• 6:25
  device
• 6:26
  that
• 6:26
  works
• 6:26
  in
• 6:26
  theory
• 6:27
  but
• 6:27
  does
• 6:27
  not
• 6:28
  get
• 6:28
  adopted
• 6:29
  is
• 6:29
  not
• 6:29
  really
• 6:29
  a
• 6:30
  commercial
• 6:30
  product
• 6:31
  yet.
• 6:31
  It's
• 6:32
  a
• 6:32
  promising
• 6:32
  object.
• 6:33
  And
• 6:33
  sadly,
• 6:34
  healthcare
• 6:34
  is
• 6:35
  littered
• 6:35
  with
• 6:36
  promising
• 6:36
  objects,
• 6:37
  and
• 6:37
  that's
• 6:37
  why
• 6:37
  this
• 6:38
  matters
• 6:38
  so
• 6:38
  much.
• 6:39
  So
• 6:39
  if
• 6:39
  an
• 6:39
  investor
• 6:40
  asks,
• 6:41
  why
• 6:41
  isn't
• 6:41
  anyone
• 6:42
  using
• 6:42
  it
• 6:42
  already?
• 6:43
  They're
• 6:43
  not
• 6:43
  asking
• 6:43
  for
• 6:43
  a
• 6:43
  defensive
• 6:44
  answer.
• 6:44
  They're
• 6:44
  actually
• 6:45
  looking
• 6:46
  to
• 6:46
  see
• 6:47
  whether
• 6:47
  you
• 6:48
  understand
• 6:48
  the
• 6:49
  difference
• 6:49
  between
• 6:49
  product
• 6:50
  validation
• 6:50
  and
• 6:51
  adoption
• 6:51
  validation.
• 6:52
  Those
• 6:52
  two
• 6:53
  are
• 6:53
  not
• 6:53
  the
• 6:53
  same
• 6:53
  thing.
• 6:54
  A
• 6:54
  founder
• 6:55
  who
• 6:55
  does
• 6:55
  not
• 6:55
  know
• 6:55
  the
• 6:55
  difference
• 6:56
  sounds
• 6:56
  naive.
• 6:57
  A
• 6:57
  founder
• 6:58
  who
• 6:58
  does
• 6:59
  know
• 6:59
  it
• 6:59
  sounds
• 7:00
  fundable.
• 7:00
  And
• 7:00
  actually
• 7:01
  as
• 7:01
  a
• 7:01
  little
• 7:02
  bonus,
• 7:02
  if
• 7:02
  you
• 7:02
  want
• 7:03
  an
• 7:03
  even
• 7:03
  more
• 7:03
  polished
• 7:03
  version
• 7:04
  of
• 7:04
  D.
• 7:04
  Here's
• 7:05
  how
• 7:05
  I
• 7:06
  would
• 7:06
  say
• 7:06
  it.
• 7:06
  If
• 7:06
  I
• 7:07
  was
• 7:07
  in
• 7:07
  the
• 7:07
  room,
• 7:07
  i'll
• 7:08
  say
• 7:08
  something
• 7:08
  like,
• 7:08
  well,
• 7:09
  we
• 7:09
  identified
• 7:10
  early
• 7:11
  that
• 7:11
  adoption
• 7:12
  would
• 7:12
  depend
• 7:12
  on
• 7:13
  stronger
• 7:13
  clinical
• 7:14
  and
• 7:14
  economic
• 7:15
  evidence.
• 7:15
  We're
• 7:16
  running
• 7:16
  targeted
• 7:16
  studies
• 7:17
  now
• 7:18
  to
• 7:18
  generate
• 7:18
  exactly
• 7:19
  what
• 7:19
  hospitals
• 7:19
  need
• 7:20
  to
• 7:20
  say
• 7:20
  yes.
• 7:21
  Now
• 7:21
  that
• 7:21
  works
• 7:22
  because
• 7:23
  it
• 7:23
  connects
• 7:23
  the
• 7:23
  dots,
• 7:24
  not
• 7:24
  just
• 7:24
  the
• 7:24
  evidence,
• 7:25
  not
• 7:26
  just
• 7:26
  activity,
• 7:27
  but
• 7:27
  evidence
• 7:28
  tied
• 7:29
  to
• 7:29
  adoption,
• 7:29
  and
• 7:30
  that
• 7:30
  is
• 7:30
  what
• 7:30
  good
• 7:31
  investors
• 7:32
  want
• 7:32
  to
• 7:32
  hear.
• 7:33
  So
• 7:33
  what
• 7:33
  does
• 7:33
  that
• 7:33
  mean
• 7:34
  for
• 7:34
  you
• 7:35
  if
• 7:35
  you
• 7:35
  are
• 7:35
  a
• 7:35
  clinical
• 7:35
  founder,
• 7:36
  an
• 7:37
  early
• 7:37
  stage
• 7:37
  med
• 7:38
  tech,
• 7:38
  CEO,
• 7:38
  or
• 7:39
  part
• 7:39
  of
• 7:39
  a
• 7:39
  team
• 7:40
  trying
• 7:40
  to
• 7:40
  get
• 7:40
  a
• 7:40
  medical
• 7:41
  device
• 7:41
  into
• 7:42
  hospitals.
• 7:42
  Here
• 7:43
  is
• 7:43
  the
• 7:43
  decision
• 7:43
  rule
• 7:44
  that
• 7:44
  you
• 7:44
  have
• 7:44
  to
• 7:44
  remember.
• 7:45
  Do
• 7:45
  not
• 7:46
  just
• 7:46
  gather
• 7:46
  more
• 7:46
  evidence,
• 7:47
  gather
• 7:48
  the
• 7:48
  evidence
• 7:48
  that
• 7:49
  remove
• 7:49
  the
• 7:49
  next
• 7:50
  adoption
• 7:51
  barrier.
• 7:51
  Now,
• 7:51
  that
• 7:52
  barrier
• 7:52
  can
• 7:53
  be
• 7:53
  a
• 7:53
  multitude
• 7:53
  of
• 7:53
  things.
• 7:54
  It
• 7:54
  might
• 7:54
  be
• 7:55
  clinical
• 7:55
  confidence,
• 7:56
  it
• 7:56
  might
• 7:56
  be
• 7:56
  workflow,
• 7:57
  it
• 7:57
  may
• 7:57
  be
• 7:58
  health,
• 7:58
  economic
• 7:58
  value.
• 7:59
  It
• 7:59
  may
• 7:59
  be
• 7:59
  reimbursement
• 8:00
  justification
• 8:01
  or
• 8:01
  buyer
• 8:02
  confidence.
• 8:02
  But
• 8:03
  wherever
• 8:03
  it
• 8:03
  is,
• 8:04
  be
• 8:04
  specific
• 8:05
  because
• 8:05
  vague
• 8:06
  evidence
• 8:06
  creates
• 8:07
  vague
• 8:07
  progress.
• 8:08
  And
• 8:08
  vague
• 8:09
  progress
• 8:09
  is
• 8:09
  where
• 8:10
  good
• 8:10
  products
• 8:11
  go
• 8:11
  to
• 8:11
  die.
• 8:12
  So
• 8:12
  three
• 8:12
  questions
• 8:13
  to
• 8:13
  ask
• 8:13
  yourself
• 8:14
  now
• 8:15
  before
• 8:15
  you
• 8:15
  do
• 8:15
  any
• 8:15
  more
• 8:15
  pitches
• 8:16
  to
• 8:16
  anybody,
• 8:17
  one.
• 8:18
  What
• 8:18
  exactly
• 8:19
  is
• 8:19
  stopping
• 8:19
  adoption
• 8:20
  right
• 8:20
  now?
• 8:21
  Not
• 8:21
  in
• 8:21
  theory,
• 8:22
  but
• 8:22
  in
• 8:22
  reality.
• 8:23
  Two.
• 8:24
  What
• 8:24
  evidence
• 8:25
  would
• 8:26
  reduce
• 8:26
  that
• 8:26
  risk
• 8:27
  for
• 8:27
  the
• 8:27
  next
• 8:27
  decision
• 8:28
  maker,
• 8:28
  whether
• 8:29
  that's
• 8:29
  a
• 8:29
  clinician,
• 8:30
  a
• 8:30
  value
• 8:30
  analysis
• 8:31
  committee,
• 8:32
  a
• 8:32
  procurement
• 8:32
  lead,
• 8:33
  or
• 8:33
  an
• 8:33
  investor?
• 8:34
  And
• 8:35
  three,
• 8:36
  are
• 8:36
  we
• 8:36
  running
• 8:36
  studies
• 8:37
  to
• 8:37
  answer
• 8:37
  the
• 8:37
  right
• 8:38
  questions?
• 8:39
  Or
• 8:40
  just
• 8:40
  studies
• 8:40
  that
• 8:41
  make
• 8:41
  us
• 8:41
  feel
• 8:41
  busy
• 8:42
  and
• 8:42
  that
• 8:42
  third
• 8:42
  one
• 8:43
  will
• 8:43
  sting
• 8:44
  a
• 8:44
  bit.
• 8:44
  I
• 8:44
  know.
• 8:44
  Because
• 8:44
  you
• 8:44
  have
• 8:45
  to
• 8:45
  be
• 8:45
  brutally
• 8:45
  honest
• 8:46
  with
• 8:46
  yourself.
• 8:46
  But
• 8:46
  it
• 8:47
  matters
• 8:47
  because
• 8:48
  I've
• 8:48
  seen
• 8:48
  plenty
• 8:49
  of
• 8:49
  MedTech
• 8:50
  companies
• 8:50
  do
• 8:50
  lots
• 8:51
  of
• 8:51
  work,
• 8:51
  spend
• 8:52
  lots
• 8:52
  of
• 8:52
  money,
• 8:52
  and
• 8:53
  generate
• 8:54
  a
• 8:54
  truckload
• 8:54
  of
• 8:54
  data
• 8:55
  only
• 8:55
  to
• 8:56
  realize
• 8:56
  they
• 8:57
  did
• 8:57
  not
• 8:57
  produce
• 8:57
  the
• 8:57
  evidence
• 8:58
  the
• 8:58
  market
• 8:58
  actually
• 8:59
  needed.
• 9:00
  And
• 9:00
  that's
• 9:00
  not
• 9:00
  strategy.
• 9:01
  That
• 9:02
  is
• 9:02
  just
• 9:02
  a
• 9:02
  very,
• 9:02
  very
• 9:03
  expensive
• 9:04
  exercise.
• 9:05
  So
• 9:05
  here
• 9:05
  is
• 9:06
  the
• 9:06
  final
• 9:06
  takeaway.
• 9:07
  When
• 9:08
  an
• 9:08
  investor
• 9:08
  asks
• 9:08
  you
• 9:09
  if
• 9:09
  this
• 9:10
  device
• 9:10
  is
• 9:10
  so
• 9:10
  good,
• 9:11
  why
• 9:11
  isn't
• 9:11
  anyone
• 9:11
  already
• 9:12
  using
• 9:12
  it?
• 9:12
  Do
• 9:13
  not
• 9:13
  sound
• 9:13
  defensive.
• 9:14
  Do
• 9:15
  not
• 9:15
  sound
• 9:15
  vague
• 9:16
  and
• 9:16
  definitely
• 9:17
  don't
• 9:18
  sound
• 9:18
  surprised
• 9:19
  by
• 9:19
  the
• 9:19
  question.
• 9:20
  Show
• 9:20
  them
• 9:21
  that
• 9:22
  you
• 9:22
  really
• 9:22
  understand
• 9:23
  the
• 9:23
  adoption
• 9:23
  gap
• 9:24
  and
• 9:24
  that
• 9:24
  you're
• 9:24
  closing
• 9:25
  it
• 9:25
  deliberately
• 9:26
  because
• 9:26
  in
• 9:27
  MedTech,
• 9:27
  the
• 9:27
  companies
• 9:28
  that
• 9:28
  win
• 9:29
  are
• 9:29
  not
• 9:29
  the
• 9:30
  ones
• 9:30
  with
• 9:30
  the
• 9:30
  loudest
• 9:31
  claims.
• 9:32
  They're
• 9:32
  the
• 9:32
  ones
• 9:32
  that
• 9:33
  know
• 9:33
  exactly
• 9:33
  what
• 9:33
  proof
• 9:34
  the
• 9:34
  market
• 9:34
  actually
• 9:35
  needs
• 9:35
  next,
• 9:36
  and
• 9:36
  then
• 9:37
  they
• 9:37
  go
• 9:37
  and
• 9:37
  get
• 9:37
  it.
• 9:37
  And
• 9:37
  if
• 9:38
  you're
• 9:38
  building
• 9:38
  a
• 9:39
  MedTech
• 9:39
  business
• 9:40
  and
• 9:40
  you're
• 9:40
  not
• 9:40
  sure
• 9:41
  whether
• 9:41
  your
• 9:42
  next
• 9:42
  move
• 9:42
  should
• 9:42
  be
• 9:42
  around
• 9:43
  evidence,
• 9:43
  market
• 9:44
  access,
• 9:44
  commercialization,
• 9:46
  distributor
• 9:46
  strategy,
• 9:47
  or
• 9:47
  adoption.
• 9:48
  Don't
• 9:48
  guess.
• 9:49
  Booker
• 9:49
  Healthcare
• 9:50
  export
• 9:51
  accelerated
• 9:51
  diagnostic
• 9:52
  Call
• 9:52
  with
• 9:52
  me.
• 9:53
  Use
• 9:53
  the
• 9:53
  link
• 9:54
  in
• 9:54
  the
• 9:54
  show
• 9:54
  notes
• 9:54
  and
• 9:54
  in
• 9:55
  that
• 9:55
  session
• 9:55
  I'll
• 9:56
  help
• 9:56
  you
• 9:56
  identify
• 9:56
  the
• 9:57
  specific
• 9:57
  constraints
• 9:58
  blocking
• 9:58
  your
• 9:59
  momentum
• 9:59
  and
• 9:59
  the
• 9:59
  commercial
• 10:00
  move,
• 10:00
  most
• 10:01
  likely
• 10:01
  to
• 10:01
  unlock
• 10:02
  your
• 10:02
  progress.
• 10:03
  Until
• 10:03
  next
• 10:03
  time.
• 10:04
  If
• 10:04
  it
• 10:04
  doesn't
• 10:04
  Get
• 10:05
  used,
• 10:05
  it
• 10:05
  doesn't
• 10:06
  matter.
• 10:06
  So
• 10:07
  thanks
• 10:07
  for
• 10:07
  listening.
• 10:08
  Keep
• 10:08
  challenging
• 10:09
  your
• 10:09
  assumptions
• 10:10
  and
• 10:10
  keep
• 10:10
  growing.