Latest / Clinician to CEO : Export Your Medical Device With Confidence By Overcoming Go To Market Roadblocks For Medtech Growth / #171 | 5 Steps Clinician Founders NEED To Use, If You Want To Build a Revenue-Driven MedTech Export Plan

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#171 | 5 Steps Clinician Founders NEED To Use, If You Want To Build a Revenue-Driven MedTech Export Plan · Clinician to CEO : Export Your Medical Device With Confidence By Overcoming Go To Market Roadblocks For Medtech Growth

• 0:00
  Do
• 0:00
  you
• 0:00
  have
• 0:00
  an
• 0:01
  export
• 0:01
  strategy
• 0:02
  or
• 0:02
  just
• 0:03
  international
• 0:04
  intent?
• 0:05
  By
• 0:06
  the
• 0:06
  end
• 0:06
  of
• 0:06
  this
• 0:06
  episode,
• 0:07
  you'll
• 0:07
  know
• 0:08
  how
• 0:08
  to
• 0:09
  build
• 0:09
  a
• 0:09
  revenue
• 0:10
  driven
• 0:11
  export
• 0:11
  plan,
• 0:12
  not
• 0:12
  just
• 0:12
  a
• 0:12
  strategic
• 0:13
  narrative.
• 0:14
  Export
• 0:15
  rarely
• 0:15
  fails
• 0:16
  because
• 0:16
  markets
• 0:17
  are
• 0:17
  too
• 0:17
  hard.
• 0:18
  It
• 0:18
  fails
• 0:19
  because
• 0:19
  there's
• 0:19
  no
• 0:20
  clear
• 0:21
  structured
• 0:21
  commercial
• 0:22
  plan
• 0:23
  behind
• 0:23
  it.
• 0:24
  Welcome
• 0:25
  to
• 0:25
  Clinician
• 0:25
  to
• 0:25
  CEO,
• 0:26
  the
• 0:26
  podcast
• 0:27
  helping
• 0:28
  clinicians
• 0:28
  simplify
• 0:29
  your
• 0:29
  go-to-market
• 0:30
  strategy
• 0:30
  so
• 0:30
  that
• 0:31
  you
• 0:31
  can
• 0:31
  stop
• 0:31
  guessing
• 0:32
  and
• 0:32
  turn
• 0:33
  your
• 0:33
  working
• 0:33
  prototypes
• 0:34
  into
• 0:34
  international
• 0:35
  MedTech
• 0:35
  businesses.
• 0:36
  I'm
• 0:37
  your
• 0:37
  host,
• 0:37
  Hakeem
• 0:37
  Aade.
• 0:38
  Let's
• 0:39
  get
• 0:39
  started.
• 0:40
  So
• 0:40
  in
• 0:40
  this
• 0:40
  episode,
• 0:41
  I'm
• 0:41
  gonna
• 0:42
  walk
• 0:42
  you
• 0:42
  through
• 0:43
  the
• 0:43
  five
• 0:43
  steps
• 0:44
  that
• 0:44
  will
• 0:44
  help
• 0:45
  you
• 0:45
  build
• 0:45
  a
• 0:45
  commercial
• 0:46
  plan
• 0:47
  that
• 0:47
  makes
• 0:47
  export
• 0:48
  actually
• 0:49
  work.
• 0:50
  So
• 0:50
  step
• 0:51
  one.
• 0:51
  Vision,
• 0:52
  but
• 0:52
  built
• 0:53
  properly.
• 0:54
  Now,
• 0:54
  here's
• 0:55
  what
• 0:55
  most
• 0:55
  founders
• 0:55
  say
• 0:56
  when
• 0:56
  I
• 0:56
  ask
• 0:56
  them
• 0:56
  about
• 0:57
  their
• 0:57
  export
• 0:57
  vision.
• 0:57
  We
• 0:58
  want
• 0:58
  to
• 0:58
  become
• 0:58
  the
• 0:59
  global
• 0:59
  standard.
• 1:00
  Think
• 1:00
  that
• 1:00
  we
• 1:01
  want
• 1:01
  every
• 1:01
  clinician
• 1:02
  to
• 1:02
  use
• 1:02
  this,
• 1:02
  or
• 1:03
  we
• 1:03
  want
• 1:03
  to
• 1:03
  scale
• 1:04
  internationally,
• 1:05
  and
• 1:05
  then
• 1:05
  we
• 1:05
  want
• 1:05
  to
• 1:05
  exit
• 1:06
  Now.
• 1:06
  That's
• 1:06
  ambition.
• 1:07
  And
• 1:07
  it's
• 1:07
  not
• 1:08
  small
• 1:08
  ambition
• 1:08
  either,
• 1:09
  but
• 1:09
  the
• 1:09
  thing
• 1:09
  is,
• 1:10
  ambition
• 1:11
  isn't
• 1:12
  vision.
• 1:13
  Vision
• 1:13
  isn't
• 1:13
  about
• 1:14
  how
• 1:14
  big
• 1:14
  you
• 1:14
  want
• 1:15
  to
• 1:15
  be.
• 1:15
  It's
• 1:15
  about
• 1:16
  the
• 1:16
  role
• 1:16
  you're
• 1:16
  building
• 1:17
  the
• 1:18
  company
• 1:18
  to
• 1:18
  play.
• 1:19
  Now,
• 1:19
  are
• 1:19
  you
• 1:19
  building
• 1:20
  a
• 1:20
  premium
• 1:21
  specialist
• 1:21
  brand
• 1:21
  or
• 1:22
  a
• 1:22
  volume
• 1:23
  driven
• 1:23
  category
• 1:23
  player,
• 1:24
  or
• 1:24
  a
• 1:25
  fast
• 1:25
  growth
• 1:26
  acquisition
• 1:26
  target,
• 1:27
  or
• 1:27
  a
• 1:27
  dominant
• 1:28
  niche
• 1:28
  leader?
• 1:29
  Those
• 1:29
  are
• 1:29
  different,
• 1:30
  types
• 1:30
  of
• 1:30
  visions
• 1:31
  that
• 1:31
  you're
• 1:31
  trying
• 1:32
  to.
• 1:32
  Build
• 1:32
  there
• 1:33
  because
• 1:33
  ambition
• 1:34
  without
• 1:35
  structure
• 1:36
  will
• 1:36
  start
• 1:36
  to
• 1:36
  create
• 1:37
  drift
• 1:37
  in
• 1:37
  the
• 1:37
  business.
• 1:38
  IE
• 1:39
  your
• 1:39
  pricing
• 1:40
  can
• 1:40
  shift
• 1:40
  and
• 1:41
  drift.
• 1:41
  Your
• 1:42
  markets
• 1:42
  can
• 1:43
  shift.
• 1:44
  Your
• 1:44
  distributor
• 1:45
  profile
• 1:45
  starts
• 1:46
  to
• 1:46
  shift
• 1:46
  so
• 1:46
  you're
• 1:47
  not
• 1:47
  clear
• 1:47
  on
• 1:47
  exactly
• 1:48
  what
• 1:48
  sort
• 1:48
  of
• 1:48
  distributor
• 1:49
  you're
• 1:49
  looking
• 1:49
  for,
• 1:50
  'cause
• 1:50
  you're
• 1:50
  not
• 1:50
  clear
• 1:50
  on
• 1:50
  your
• 1:50
  vision.
• 1:51
  And
• 1:51
  then
• 1:51
  even
• 1:52
  your
• 1:52
  narrative
• 1:53
  around
• 1:54
  your
• 1:54
  products
• 1:54
  or
• 1:54
  service
• 1:55
  starts
• 1:55
  to
• 1:56
  shift
• 1:56
  because
• 1:57
  vision.
• 1:57
  Isn't
• 1:58
  about
• 1:58
  how
• 1:59
  big
• 1:59
  you
• 1:59
  want
• 1:59
  to
• 1:59
  be.
• 2:00
  It's
• 2:00
  about
• 2:00
  whether
• 2:00
  your
• 2:01
  direction
• 2:01
  is
• 2:01
  clear,
• 2:02
  whether
• 2:02
  your
• 2:03
  decisions
• 2:03
  align
• 2:04
  with
• 2:04
  that
• 2:05
  vision
• 2:05
  and
• 2:06
  whether
• 2:06
  it
• 2:06
  keeps
• 2:06
  you
• 2:06
  moving
• 2:07
  forward
• 2:08
  when
• 2:08
  progress
• 2:09
  slows
• 2:09
  and
• 2:10
  whether
• 2:10
  it
• 2:10
  attracts
• 2:11
  the
• 2:11
  right
• 2:11
  partners
• 2:12
  and
• 2:12
  employees
• 2:13
  and
• 2:14
  people
• 2:14
  to
• 2:14
  work
• 2:15
  with
• 2:15
  you.
• 2:16
  Now,
• 2:16
  this
• 2:16
  is
• 2:16
  where
• 2:16
  my
• 2:17
  vision
• 2:17
  framework
• 2:18
  damp
• 2:18
  comes
• 2:19
  into
• 2:19
  play,
• 2:20
  that
• 2:20
  D-A-M-P-I-E,
• 2:23
  direction,
• 2:24
  alignment,
• 2:25
  motivation,
• 2:27
  and
• 2:27
  people,
• 2:28
  because
• 2:28
  if
• 2:28
  your
• 2:29
  vision
• 2:29
  doesn't
• 2:30
  guide
• 2:30
  decisions,
• 2:31
  it
• 2:31
  won't
• 2:31
  guide
• 2:31
  expansion.
• 2:32
  And
• 2:33
  if
• 2:33
  it
• 2:33
  doesn't
• 2:33
  guide
• 2:34
  expansion,
• 2:35
  export
• 2:35
  becomes
• 2:36
  reactive.
• 2:36
  And
• 2:37
  without
• 2:37
  that
• 2:37
  clarity,
• 2:38
  you
• 2:39
  end
• 2:39
  up
• 2:39
  just
• 2:39
  adjusting
• 2:40
  your
• 2:40
  story.
• 2:41
  Depending
• 2:42
  on
• 2:42
  who
• 2:42
  you
• 2:42
  are
• 2:42
  speaking
• 2:43
  to.
• 2:43
  So
• 2:43
  in
• 2:43
  Dubai,
• 2:44
  you
• 2:44
  sound
• 2:44
  premium.
• 2:45
  In
• 2:45
  Eastern
• 2:45
  Europe
• 2:46
  you
• 2:46
  sound
• 2:46
  cost
• 2:47
  driven.
• 2:47
  In
• 2:47
  the
• 2:48
  US
• 2:48
  you
• 2:48
  sound
• 2:49
  like
• 2:49
  a
• 2:49
  tech
• 2:49
  platform.
• 2:50
  You
• 2:50
  start
• 2:50
  saying
• 2:51
  yes
• 2:51
  to
• 2:51
  the
• 2:51
  loudest
• 2:52
  markets,
• 2:52
  the
• 2:53
  most
• 2:53
  enthusiastic
• 2:54
  distributor,
• 2:54
  the
• 2:55
  investor
• 2:55
  who
• 2:55
  asked
• 2:56
  the
• 2:56
  nicest
• 2:56
  questions.
• 2:57
  That's
• 2:58
  not
• 2:58
  a
• 2:58
  strategy.
• 2:59
  That's
• 2:59
  movement
• 2:59
  without
• 3:00
  direction.
• 3:00
  Or
• 3:01
  let's
• 3:01
  call
• 3:01
  it
• 3:01
  drift.
• 3:02
  'cause
• 3:02
  I
• 3:02
  like
• 3:02
  to
• 3:03
  talk
• 3:03
  about
• 3:03
  drift
• 3:04
  and
• 3:04
  drift
• 3:05
  burns
• 3:05
  runway,
• 3:06
  and
• 3:06
  it
• 3:06
  burns
• 3:07
  money.
• 3:07
  So
• 3:08
  step
• 3:08
  one
• 3:09
  isn't,
• 3:10
  let's
• 3:10
  go.
• 3:10
  International,
• 3:11
  global.
• 3:11
  Step
• 3:12
  one
• 3:12
  is
• 3:12
  defining
• 3:13
  a
• 3:13
  vision
• 3:14
  that
• 3:14
  gives
• 3:14
  you
• 3:14
  direction
• 3:15
  aligns
• 3:16
  decisions.
• 3:17
  Sustained
• 3:17
  motivation,
• 3:18
  and
• 3:18
  filters
• 3:19
  the
• 3:19
  right
• 3:19
  people.
• 3:20
  And
• 3:20
  if
• 3:20
  you
• 3:20
  want
• 3:20
  a
• 3:20
  full
• 3:21
  breakdown
• 3:22
  of
• 3:22
  how
• 3:22
  to
• 3:22
  build
• 3:22
  your
• 3:23
  own
• 3:23
  vision
• 3:24
  using
• 3:24
  the
• 3:24
  DAMP
• 3:24
  framework,
• 3:25
  then
• 3:26
  go
• 3:26
  back
• 3:26
  to
• 3:26
  episode
• 3:27
  1
• 3:27
  6
• 3:27
  4,
• 3:28
  as
• 3:28
  that
• 3:28
  episode
• 3:29
  is
• 3:29
  entirely
• 3:30
  about
• 3:31
  building
• 3:31
  the
• 3:31
  right
• 3:32
  commercial
• 3:32
  vision
• 3:33
  for
• 3:33
  your
• 3:33
  business,
• 3:34
  which
• 3:34
  is
• 3:34
  critical.
• 3:35
  So.
• 3:36
  For
• 3:36
  now,
• 3:37
  just
• 3:38
  understand
• 3:38
  this.
• 3:39
  If
• 3:39
  you
• 3:39
  don't
• 3:40
  define
• 3:40
  where
• 3:40
  you
• 3:41
  are
• 3:41
  going
• 3:41
  and
• 3:41
  what
• 3:41
  role
• 3:42
  you
• 3:42
  want
• 3:42
  to
• 3:42
  own
• 3:42
  or
• 3:42
  your
• 3:43
  business
• 3:43
  to
• 3:43
  own,
• 3:44
  export
• 3:44
  becomes
• 3:45
  the
• 3:45
  reactive
• 3:46
  and
• 3:46
  reactive
• 3:47
  businesses
• 3:47
  burn
• 3:48
  cash.
• 3:49
  So
• 3:49
  step
• 3:49
  one,
• 3:50
  define
• 3:51
  your
• 3:51
  vision.
• 3:52
  Moving
• 3:52
  on
• 3:53
  to
• 3:53
  step
• 3:53
  two,
• 3:53
  that's
• 3:54
  about
• 3:54
  market
• 3:54
  prioritization.
• 3:55
  And
• 3:55
  can
• 3:56
  I
• 3:57
  be
• 3:57
  blunt
• 3:57
  here
• 3:58
  Now,
• 3:58
  to
• 3:58
  be
• 3:58
  fair,
• 3:59
  I
• 3:59
  always
• 3:59
  am.
• 4:00
  So
• 4:00
  I
• 4:00
  don't
• 4:01
  really
• 4:01
  know
• 4:01
  any
• 4:01
  of
• 4:01
  the
• 4:01
  way.
• 4:01
  So
• 4:02
  the
• 4:02
  simple
• 4:02
  truth
• 4:03
  is
• 4:03
  that
• 4:03
  most.
• 4:04
  SMEs
• 4:05
  don't
• 4:06
  choose
• 4:06
  markets.
• 4:07
  They
• 4:07
  actually
• 4:08
  tend
• 4:08
  to
• 4:08
  follow
• 4:08
  attention.
• 4:09
  Someone
• 4:09
  shows
• 4:10
  interest
• 4:10
  at
• 4:10
  Arab
• 4:10
  Health.
• 4:11
  So
• 4:11
  suddenly
• 4:12
  the
• 4:12
  Middle
• 4:12
  East
• 4:13
  is
• 4:13
  now
• 4:13
  described
• 4:14
  as
• 4:14
  strategic
• 4:15
  a
• 4:15
  US
• 4:15
  investor
• 4:15
  asset
• 4:16
  question.
• 4:16
  So
• 4:16
  now
• 4:17
  America's
• 4:17
  a
• 4:17
  priority.
• 4:18
  Now
• 4:18
  that's
• 4:18
  not
• 4:19
  a
• 4:19
  plan.
• 4:20
  And
• 4:20
  we
• 4:20
  need
• 4:21
  a
• 4:21
  plan.
• 4:21
  You
• 4:22
  need
• 4:22
  to
• 4:22
  be
• 4:22
  able
• 4:23
  to
• 4:23
  segment
• 4:23
  your
• 4:24
  market
• 4:24
  based
• 4:25
  on
• 4:25
  probability
• 4:26
  and
• 4:26
  potential.
• 4:27
  So
• 4:28
  let's
• 4:28
  break
• 4:28
  that
• 4:28
  down.
• 4:29
  So
• 4:29
  potential
• 4:30
  is
• 4:30
  really
• 4:31
  describing
• 4:33
  that
• 4:33
  if
• 4:33
  you
• 4:33
  are
• 4:34
  successful
• 4:35
  in
• 4:35
  that
• 4:35
  specific
• 4:36
  market,
• 4:36
  how
• 4:37
  big
• 4:37
  is
• 4:38
  the
• 4:38
  pie
• 4:39
  going
• 4:39
  to
• 4:39
  be?
• 4:40
  So
• 4:40
  potential
• 4:41
  is
• 4:41
  gonna
• 4:41
  be
• 4:41
  things
• 4:41
  like
• 4:41
  market
• 4:42
  size
• 4:43
  or
• 4:43
  addressable
• 4:44
  market,
• 4:44
  those
• 4:44
  sort
• 4:45
  of
• 4:45
  things.
• 4:45
  And
• 4:46
  you
• 4:46
  have
• 4:46
  to
• 4:46
  look
• 4:46
  at
• 4:46
  specifically
• 4:47
  for
• 4:47
  your
• 4:48
  markets,
• 4:48
  what
• 4:49
  would
• 4:49
  those
• 4:49
  things
• 4:50
  be?
• 4:50
  And
• 4:51
  then
• 4:51
  probability
• 4:52
  is
• 4:52
  then
• 4:52
  looking
• 4:53
  at,
• 4:54
  okay,
• 4:55
  how
• 4:55
  quickly
• 4:56
  can
• 4:56
  we
• 4:57
  access
• 4:57
  that
• 4:58
  specific
• 4:58
  market?
• 4:59
  So
• 4:59
  it's
• 4:59
  going
• 5:00
  to
• 5:00
  be,
• 5:00
  things
• 5:01
  and
• 5:01
  parameters
• 5:02
  such
• 5:02
  as
• 5:02
  regulatory,
• 5:03
  friction,
• 5:04
  competitive
• 5:05
  saturation.
• 5:05
  How
• 5:06
  many.
• 5:06
  Competitive
• 5:07
  are
• 5:07
  there
• 5:08
  in
• 5:08
  the
• 5:08
  market,
• 5:08
  and
• 5:08
  how
• 5:08
  successful
• 5:09
  are
• 5:09
  they
• 5:09
  doing?
• 5:10
  What's
• 5:10
  the
• 5:10
  speed
• 5:10
  to
• 5:10
  revenue,
• 5:11
  what's
• 5:12
  the
• 5:12
  clinical
• 5:12
  demand,
• 5:13
  et
• 5:13
  cetera.
• 5:13
  So
• 5:14
  that's
• 5:14
  what
• 5:14
  you've
• 5:14
  then
• 5:14
  got.
• 5:15
  You've
• 5:15
  then
• 5:15
  got
• 5:15
  two
• 5:15
  parameters
• 5:16
  that
• 5:16
  you
• 5:16
  can
• 5:16
  then
• 5:16
  start
• 5:17
  focusing
• 5:17
  on
• 5:18
  and
• 5:18
  taking
• 5:19
  those
• 5:19
  two
• 5:20
  parameters
• 5:20
  into
• 5:20
  account
• 5:21
  when
• 5:21
  you're
• 5:21
  choosing
• 5:22
  your
• 5:22
  markets.
• 5:22
  Because
• 5:23
  if
• 5:23
  you
• 5:23
  ignore
• 5:23
  potential
• 5:24
  and
• 5:24
  you
• 5:24
  start
• 5:25
  getting
• 5:25
  traction,
• 5:26
  then
• 5:26
  you're
• 5:26
  not
• 5:26
  gonna
• 5:26
  make
• 5:26
  that
• 5:26
  much
• 5:27
  cash
• 5:27
  because
• 5:28
  the
• 5:28
  market
• 5:29
  size
• 5:29
  isn't
• 5:30
  right.
• 5:30
  And
• 5:30
  if
• 5:30
  you
• 5:31
  ignore
• 5:31
  probability,
• 5:32
  then
• 5:32
  you
• 5:32
  may
• 5:33
  target
• 5:33
  the
• 5:33
  largest
• 5:33
  account,
• 5:34
  but
• 5:34
  you're
• 5:34
  gonna
• 5:35
  spend
• 5:35
  a
• 5:35
  lot
• 5:35
  of
• 5:36
  time
• 5:37
  getting
• 5:37
  into
• 5:38
  those.
• 5:38
  When
• 5:38
  there's
• 5:38
  markets
• 5:39
  you
• 5:39
  could
• 5:39
  get
• 5:39
  in
• 5:39
  there
• 5:40
  quicker
• 5:40
  and
• 5:41
  deliver
• 5:42
  good
• 5:42
  quality
• 5:42
  revenue.
• 5:43
  To
• 5:43
  grow
• 5:43
  your
• 5:44
  business.
• 5:44
  So
• 5:44
  you
• 5:44
  need
• 5:45
  both
• 5:46
  of
• 5:46
  those
• 5:46
  parameters
• 5:47
  when
• 5:47
  you're
• 5:47
  looking
• 5:48
  at
• 5:48
  markets,
• 5:49
  and
• 5:49
  you
• 5:49
  should
• 5:49
  be
• 5:49
  comparing
• 5:50
  those
• 5:50
  markets
• 5:51
  to
• 5:51
  one
• 5:51
  another
• 5:52
  to
• 5:52
  actually
• 5:52
  get
• 5:52
  a
• 5:52
  short
• 5:53
  list
• 5:53
  of
• 5:53
  markets
• 5:54
  that
• 5:54
  you
• 5:54
  want
• 5:54
  to
• 5:54
  focus
• 5:55
  on.
• 5:55
  So
• 5:55
  if
• 5:55
  you
• 5:55
  use
• 5:56
  this
• 5:56
  methodology,
• 5:57
  then
• 5:57
  it
• 5:57
  forces
• 5:58
  you
• 5:58
  to
• 5:58
  choose
• 5:59
  the
• 5:59
  right
• 5:59
  markets
• 5:59
  because
• 6:00
  they're
• 6:00
  based
• 6:00
  on
• 6:01
  potential
• 6:01
  and
• 6:02
  probability.
• 6:02
  And
• 6:03
  sometimes
• 6:03
  you're
• 6:04
  gonna
• 6:04
  be
• 6:04
  surprised
• 6:04
  what
• 6:04
  it
• 6:05
  spits
• 6:05
  out.
• 6:05
  But
• 6:05
  because
• 6:06
  it's
• 6:06
  based
• 6:06
  on
• 6:06
  data
• 6:07
  and
• 6:07
  information
• 6:08
  and
• 6:08
  not
• 6:08
  gut
• 6:08
  feel
• 6:09
  or
• 6:09
  glamor,
• 6:10
  then
• 6:10
  you
• 6:11
  get
• 6:11
  the
• 6:11
  right
• 6:12
  markets
• 6:13
  that
• 6:13
  you
• 6:13
  should
• 6:13
  be
• 6:13
  targeting.
• 6:14
  Simply
• 6:14
  put,
• 6:14
  you
• 6:15
  need
• 6:15
  to
• 6:15
  go
• 6:15
  where
• 6:15
  you
• 6:16
  can
• 6:16
  make
• 6:16
  money
• 6:16
  quickly
• 6:17
  and
• 6:17
  there's
• 6:17
  good
• 6:18
  potential
• 6:19
  because
• 6:19
  your
• 6:19
  first
• 6:20
  international
• 6:20
  revenue
• 6:21
  changes
• 6:22
  your
• 6:22
  confidence
• 6:23
  and
• 6:23
  your
• 6:23
  negotiating
• 6:24
  position,
• 6:24
  and
• 6:25
  the
• 6:25
  wrong
• 6:25
  first
• 6:26
  market
• 6:27
  will
• 6:27
  drain
• 6:27
  both.
• 6:28
  Because
• 6:28
  your
• 6:28
  first
• 6:29
  international
• 6:30
  revenue
• 6:31
  changes
• 6:31
  everything.
• 6:32
  It
• 6:32
  changes
• 6:32
  your
• 6:33
  confidence,
• 6:33
  it
• 6:33
  changes
• 6:34
  your
• 6:34
  negotiated
• 6:35
  position,
• 6:35
  it
• 6:35
  changes,
• 6:36
  your
• 6:36
  exit
• 6:37
  plans,
• 6:37
  if
• 6:38
  that's
• 6:38
  where
• 6:38
  you're
• 6:38
  trying
• 6:39
  to
• 6:39
  take
• 6:39
  your
• 6:39
  business
• 6:39
  to.
• 6:40
  And
• 6:40
  the
• 6:40
  wrong
• 6:41
  first
• 6:41
  market.
• 6:42
  Conversely
• 6:43
  drains
• 6:44
  everything.
• 6:45
  So
• 6:46
  that
• 6:46
  is
• 6:46
  step
• 6:47
  two,
• 6:47
  choosing
• 6:48
  the
• 6:49
  right
• 6:49
  markets
• 6:50
  in
• 6:51
  the
• 6:51
  right
• 6:51
  way,
• 6:52
  a
• 6:52
  market
• 6:52
  prioritization.
• 6:54
  Moving
• 6:54
  on
• 6:54
  to
• 6:54
  step
• 6:55
  three,
• 6:55
  commercial
• 6:56
  readiness,
• 6:57
  and
• 6:57
  here's
• 6:57
  the
• 6:58
  reality.
• 6:58
  Most
• 6:59
  export
• 6:59
  failures
• 7:00
  are
• 7:00
  actually
• 7:00
  internal,
• 7:01
  not
• 7:02
  external.
• 7:03
  So
• 7:03
  if
• 7:03
  I
• 7:03
  was
• 7:03
  to
• 7:03
  ask
• 7:04
  you,
• 7:04
  why
• 7:05
  does
• 7:05
  a
• 7:05
  hospital
• 7:06
  buy
• 7:06
  your
• 7:06
  product
• 7:07
  or
• 7:07
  service?
• 7:08
  Now
• 7:08
  have
• 7:09
  a
• 7:09
  quick
• 7:09
  think
• 7:09
  about
• 7:09
  it
• 7:10
  and
• 7:10
  if
• 7:10
  your
• 7:11
  answer.
• 7:12
  It's
• 7:12
  basically
• 7:13
  features
• 7:13
  of
• 7:13
  the
• 7:13
  product
• 7:14
  and
• 7:14
  not
• 7:15
  benefits
• 7:15
  of
• 7:15
  the
• 7:15
  product,
• 7:16
  then
• 7:16
  you're
• 7:17
  not
• 7:17
  commercially
• 7:18
  ready.
• 7:18
  Now,
• 7:18
  a
• 7:19
  little
• 7:19
  trick
• 7:19
  that
• 7:19
  I
• 7:20
  always,
• 7:21
  work
• 7:21
  with
• 7:21
  people
• 7:21
  on
• 7:22
  is
• 7:22
  to
• 7:22
  get
• 7:23
  to
• 7:23
  the
• 7:23
  real
• 7:24
  benefit
• 7:24
  of
• 7:25
  your
• 7:25
  product.
• 7:26
  Take
• 7:26
  whatever
• 7:27
  you
• 7:27
  think
• 7:27
  couldn't
• 7:28
  leave
• 7:28
  your
• 7:28
  benefit
• 7:29
  and
• 7:29
  then
• 7:29
  say
• 7:29
  to
• 7:29
  yourself.
• 7:31
  What
• 7:31
  does
• 7:31
  that
• 7:31
  mean?
• 7:32
  So
• 7:32
  you
• 7:32
  say
• 7:32
  whatever
• 7:33
  your
• 7:33
  benefit
• 7:33
  is,
• 7:33
  and
• 7:33
  then
• 7:34
  say,
• 7:34
  which
• 7:35
  means
• 7:35
  that
• 7:36
  now
• 7:36
  when
• 7:37
  you
• 7:37
  can
• 7:37
  go
• 7:37
  no
• 7:37
  further,
• 7:39
  then
• 7:39
  you
• 7:40
  have
• 7:40
  a
• 7:40
  real
• 7:40
  benefit
• 7:41
  to
• 7:41
  that
• 7:42
  customer.
• 7:43
  So
• 7:43
  that's
• 7:43
  just
• 7:43
  a
• 7:43
  little
• 7:43
  exercise
• 7:44
  for
• 7:44
  you
• 7:44
  to
• 7:44
  do
• 7:44
  to
• 7:45
  get
• 7:45
  to
• 7:45
  that
• 7:45
  benefit.
• 7:46
  Now,
• 7:46
  if
• 7:46
  I
• 7:46
  were
• 7:46
  then
• 7:47
  to
• 7:47
  ask
• 7:47
  you,
• 7:48
  why
• 7:48
  do
• 7:48
  the
• 7:49
  distributor
• 7:50
  push
• 7:50
  your
• 7:50
  product
• 7:51
  and
• 7:51
  you
• 7:51
  say
• 7:51
  something
• 7:52
  like,
• 7:52
  because
• 7:53
  it's
• 7:53
  really
• 7:54
  innovative,
• 7:54
  then
• 7:55
  you're
• 7:55
  not
• 7:55
  ready
• 7:55
  either
• 7:56
  because
• 7:56
  that's
• 7:56
  too
• 7:57
  generic
• 7:58
  and
• 7:58
  it's
• 7:59
  very
• 7:59
  bland,
• 7:59
  if
• 8:00
  I'm
• 8:00
  honest.
• 8:00
  And
• 8:01
  that's
• 8:01
  not
• 8:01
  gonna
• 8:01
  get
• 8:02
  that
• 8:02
  distributor
• 8:03
  through
• 8:04
  or
• 8:04
  motivated
• 8:05
  or
• 8:05
  working
• 8:06
  hard
• 8:06
  when
• 8:07
  the
• 8:07
  going
• 8:07
  invariably
• 8:08
  gets
• 8:08
  tough
• 8:09
  when
• 8:09
  you're
• 8:09
  trying
• 8:09
  to
• 8:10
  get
• 8:10
  your
• 8:10
  adoption
• 8:10
  going
• 8:11
  in
• 8:11
  the
• 8:11
  first
• 8:12
  instance,
• 8:12
  because
• 8:13
  your
• 8:13
  business
• 8:13
  plan
• 8:14
  must
• 8:14
  really
• 8:15
  define
• 8:16
  at
• 8:16
  least
• 8:17
  five
• 8:18
  things
• 8:19
  when
• 8:19
  you're
• 8:19
  talking
• 8:19
  about
• 8:20
  this
• 8:20
  commercial
• 8:20
  readiness.
• 8:21
  A,
• 8:22
  you
• 8:22
  need
• 8:22
  to
• 8:23
  know
• 8:23
  who
• 8:23
  your
• 8:23
  ideal
• 8:23
  customer
• 8:24
  is.
• 8:24
  B,
• 8:25
  you
• 8:25
  need
• 8:26
  to
• 8:26
  understand,
• 8:27
  what's
• 8:27
  the
• 8:27
  decision
• 8:28
  making
• 8:28
  unit
• 8:28
  is
• 8:29
  for
• 8:29
  your
• 8:29
  product,
• 8:30
  and
• 8:30
  for
• 8:31
  the
• 8:31
  different
• 8:31
  decisions
• 8:32
  that
• 8:32
  need
• 8:32
  to
• 8:32
  be
• 8:32
  made.
• 8:32
  In
• 8:33
  getting
• 8:33
  your
• 8:33
  products
• 8:34
  adopted.
• 8:34
  C,
• 8:35
  you
• 8:35
  need
• 8:36
  to
• 8:36
  have
• 8:36
  an
• 8:37
  economic
• 8:37
  narrative.
• 8:38
  In
• 8:38
  this
• 8:38
  day
• 8:38
  and
• 8:38
  age,
• 8:39
  just
• 8:39
  having
• 8:39
  a
• 8:39
  clinical
• 8:40
  narrative
• 8:40
  is
• 8:40
  great,
• 8:41
  but
• 8:42
  it's
• 8:42
  not
• 8:42
  gonna
• 8:42
  get
• 8:42
  your
• 8:43
  products
• 8:43
  adopted.
• 8:43
  You
• 8:43
  need
• 8:44
  to
• 8:44
  have
• 8:44
  an
• 8:44
  economic
• 8:45
  narrative
• 8:45
  because
• 8:45
  every
• 8:46
  facility
• 8:47
  is
• 8:47
  going
• 8:48
  to
• 8:48
  look
• 8:48
  at
• 8:48
  what
• 8:49
  does
• 8:49
  this
• 8:49
  mean
• 8:49
  to
• 8:49
  them
• 8:50
  financially?
• 8:50
  And
• 8:50
  then
• 8:51
  D,
• 8:51
  you
• 8:51
  need
• 8:52
  to
• 8:52
  really
• 8:52
  understand
• 8:53
  the
• 8:53
  margin
• 8:53
  structure
• 8:54
  and
• 8:54
  the
• 8:54
  margin
• 8:55
  play
• 8:55
  that
• 8:55
  you
• 8:56
  are.
• 8:56
  Instigating
• 8:57
  with
• 8:57
  your
• 8:58
  distributor
• 8:58
  partners
• 8:59
  and
• 8:59
  E,
• 9:00
  you
• 9:00
  need
• 9:01
  to
• 9:01
  understand
• 9:02
  the
• 9:02
  adoption
• 9:03
  triggers.
• 9:04
  Because
• 9:04
  otherwise
• 9:05
  you're
• 9:05
  exporting
• 9:05
  a
• 9:05
  product
• 9:05
  are
• 9:05
  not
• 9:06
  proposition
• 9:07
  and
• 9:07
  products
• 9:07
  get
• 9:07
  compared
• 9:08
  and
• 9:08
  it's
• 9:09
  much
• 9:09
  more
• 9:09
  challenging.
• 9:10
  Propositions
• 9:11
  tend
• 9:12
  to
• 9:12
  get
• 9:12
  adopted.
• 9:13
  So
• 9:13
  let
• 9:13
  me
• 9:13
  give
• 9:14
  you
• 9:14
  a
• 9:14
  worked
• 9:15
  example
• 9:16
  to
• 9:16
  illustrate
• 9:16
  what
• 9:16
  I'm
• 9:16
  talking
• 9:17
  about.
• 9:17
  'cause
• 9:17
  you
• 9:17
  might
• 9:18
  be
• 9:18
  thinking,
• 9:18
  oh,
• 9:18
  what
• 9:18
  does
• 9:19
  he
• 9:19
  mean
• 9:19
  by
• 9:19
  ideal
• 9:20
  customer
• 9:20
  decision
• 9:20
  making
• 9:21
  unit,
• 9:21
  et
• 9:21
  cetera.
• 9:21
  So
• 9:21
  let
• 9:21
  me
• 9:21
  just
• 9:22
  take
• 9:22
  you
• 9:22
  through
• 9:22
  that.
• 9:23
  Let's
• 9:23
  imagine.
• 9:24
  An
• 9:24
  imaginary
• 9:25
  company
• 9:25
  called
• 9:25
  Ortho
• 9:26
  Flow.
• 9:27
  I'm
• 9:27
  hoping
• 9:27
  there
• 9:27
  isn't
• 9:27
  any
• 9:27
  company
• 9:28
  called
• 9:28
  Ortho
• 9:28
  Flow
• 9:28
  'cause
• 9:29
  I've
• 9:29
  just
• 9:29
  made
• 9:29
  it
• 9:29
  up.
• 9:30
  Now
• 9:30
  they've
• 9:30
  developed
• 9:31
  a
• 9:31
  disposable
• 9:32
  surgical
• 9:32
  fluid
• 9:32
  management
• 9:33
  system
• 9:33
  that
• 9:33
  reduces
• 9:34
  contamination
• 9:35
  risk
• 9:35
  and
• 9:35
  shortens
• 9:36
  theater
• 9:37
  turnaround
• 9:37
  times
• 9:38
  in
• 9:38
  orthopedic
• 9:39
  procedures.
• 9:40
  They're
• 9:41
  c
• 9:41
  marked.
• 9:42
  They've
• 9:42
  completed
• 9:43
  two
• 9:43
  UK
• 9:44
  pilot
• 9:44
  evaluations.
• 9:45
  And
• 9:45
  they
• 9:45
  now
• 9:46
  want
• 9:47
  to
• 9:47
  export.
• 9:48
  So
• 9:48
  here's
• 9:49
  what
• 9:49
  their
• 9:49
  business
• 9:50
  plan
• 9:50
  should
• 9:50
  actually
• 9:51
  define
• 9:52
  a,
• 9:52
  an
• 9:53
  ideal
• 9:53
  customer.
• 9:54
  Be
• 9:54
  specific,
• 9:55
  not
• 9:56
  broad.
• 9:56
  When
• 9:57
  I
• 9:57
  ask
• 9:57
  people
• 9:57
  about
• 9:58
  an
• 9:58
  ideal
• 9:58
  customer,
• 9:58
  they'll
• 9:59
  say
• 9:59
  something
• 9:59
  like
• 9:59
  orthopedic
• 10:00
  hospitals
• 10:00
  in
• 10:01
  Europe.
• 10:01
  Unfortunately
• 10:02
  that's
• 10:03
  weak
• 10:03
  and
• 10:03
  it's
• 10:03
  not
• 10:04
  gonna
• 10:04
  get
• 10:04
  you
• 10:04
  where
• 10:04
  you
• 10:04
  need
• 10:05
  to
• 10:05
  go.
• 10:05
  So
• 10:05
  a
• 10:05
  stronger
• 10:06
  version
• 10:06
  would
• 10:06
  be
• 10:06
  something
• 10:06
  like
• 10:07
  high
• 10:07
  volume
• 10:08
  orthopedic
• 10:09
  centers
• 10:09
  performing
• 10:10
  more
• 10:11
  than
• 10:11
  a
• 10:11
  thousand
• 10:11
  joint
• 10:12
  replacement
• 10:13
  procedures
• 10:13
  annually.
• 10:14
  We've
• 10:14
  documented
• 10:15
  theater
• 10:15
  turnaround
• 10:16
  pressure,
• 10:17
  and
• 10:17
  existing
• 10:18
  single
• 10:18
  use
• 10:19
  device
• 10:19
  procurement
• 10:20
  pathways.
• 10:21
  Now,
• 10:21
  why
• 10:21
  this
• 10:21
  matters
• 10:22
  and
• 10:22
  why
• 10:22
  I
• 10:22
  would
• 10:22
  consider
• 10:23
  this
• 10:23
  a
• 10:23
  strong
• 10:23
  version
• 10:24
  compared
• 10:24
  to
• 10:24
  a
• 10:24
  weaker
• 10:25
  version,
• 10:25
  is
• 10:25
  because
• 10:26
  this
• 10:26
  version
• 10:27
  so
• 10:27
  this
• 10:27
  second
• 10:27
  version
• 10:28
  means
• 10:28
  that
• 10:28
  smaller
• 10:29
  centers
• 10:29
  fall
• 10:30
  out
• 10:30
  immediately,
• 10:31
  so
• 10:31
  you're
• 10:31
  putting
• 10:31
  them
• 10:31
  to
• 10:31
  one
• 10:32
  side.
• 10:32
  ambulatory
• 10:33
  centers
• 10:34
  may
• 10:34
  not
• 10:34
  qualify
• 10:35
  Digitally
• 10:36
  immature
• 10:37
  systems
• 10:37
  drop
• 10:38
  off
• 10:38
  Distributor
• 10:39
  selection
• 10:39
  then
• 10:40
  must
• 10:41
  include
• 10:41
  ortho
• 10:41
  specialist
• 10:42
  reps.
• 10:43
  So
• 10:43
  this
• 10:43
  ideal
• 10:44
  customer
• 10:44
  profile
• 10:45
  now
• 10:46
  drive
• 10:46
  targeting
• 10:48
  instead
• 10:48
  of
• 10:48
  just
• 10:48
  some
• 10:48
  generic.
• 10:49
  Hope
• 10:50
  of,
• 10:50
  getting
• 10:50
  into
• 10:51
  orthopedic
• 10:51
  hospitals
• 10:52
  in
• 10:52
  Europe.
• 10:52
  You're
• 10:52
  now
• 10:52
  very
• 10:53
  specific
• 10:54
  and
• 10:54
  therefore
• 10:54
  you
• 10:54
  can
• 10:55
  start
• 10:55
  really
• 10:55
  honing
• 10:56
  in
• 10:56
  on
• 10:56
  exactly
• 10:57
  what
• 10:58
  your
• 10:58
  narrative
• 10:59
  needs
• 10:59
  to
• 10:59
  be,
• 10:59
  what
• 11:00
  your
• 11:00
  distributors
• 11:00
  need
• 11:01
  to
• 11:01
  look
• 11:01
  like,
• 11:01
  and
• 11:02
  what
• 11:02
  your
• 11:02
  value
• 11:03
  proposition
• 11:04
  needs
• 11:04
  to
• 11:04
  be
• 11:04
  to
• 11:04
  map
• 11:05
  the
• 11:05
  real
• 11:05
  power.
• 11:06
  So
• 11:07
  instead
• 11:07
  of
• 11:08
  what
• 11:08
  a
• 11:08
  hear
• 11:08
  all
• 11:08
  the
• 11:08
  time
• 11:09
  surgeons
• 11:09
  are
• 11:09
  our
• 11:09
  target.
• 11:10
  That's
• 11:10
  what
• 11:10
  I'm
• 11:10
  focusing
• 11:11
  on
• 11:11
  surgeons.
• 11:12
  What
• 11:12
  you
• 11:12
  really
• 11:13
  need
• 11:13
  is
• 11:14
  your
• 11:14
  plan
• 11:14
  needs
• 11:15
  to
• 11:15
  define.
• 11:16
  Who
• 11:16
  is
• 11:16
  the
• 11:16
  clinical
• 11:17
  champion?
• 11:17
  Is
• 11:17
  that
• 11:18
  the
• 11:18
  lead
• 11:18
  orthopedic
• 11:18
  surgeon?
• 11:19
  Okay.
• 11:19
  Let's
• 11:19
  say
• 11:19
  it's
• 11:20
  who
• 11:20
  is
• 11:21
  the
• 11:21
  operational
• 11:21
  gatekeeper?
• 11:22
  Let's
• 11:22
  say
• 11:22
  that's
• 11:23
  the
• 11:23
  theater
• 11:23
  manager
• 11:24
  who
• 11:24
  is
• 11:24
  the
• 11:24
  economic
• 11:25
  buyer.
• 11:26
  Procurement
• 11:26
  committee
• 11:27
  or
• 11:27
  CFO,
• 11:28
  but
• 11:28
  you've
• 11:28
  defined
• 11:28
  it.
• 11:29
  Who
• 11:29
  are
• 11:29
  the
• 11:29
  secondary
• 11:30
  influences
• 11:30
  or,
• 11:30
  or
• 11:31
  the
• 11:31
  users
• 11:32
  that
• 11:32
  are
• 11:32
  gonna
• 11:32
  have
• 11:32
  an
• 11:32
  influence
• 11:33
  on
• 11:33
  the
• 11:33
  decision?
• 11:34
  Is
• 11:34
  that
• 11:34
  an
• 11:34
  infection
• 11:34
  prevention
• 11:35
  lead,
• 11:35
  for
• 11:35
  example?
• 11:36
  Now,
• 11:37
  once
• 11:37
  you've
• 11:37
  got
• 11:38
  start
• 11:38
  defining
• 11:38
  all
• 11:38
  those
• 11:38
  and
• 11:39
  you've
• 11:39
  got
• 11:39
  all
• 11:39
  that
• 11:39
  information,
• 11:40
  now
• 11:40
  all
• 11:41
  flow.
• 11:42
  Understands
• 11:43
  that
• 11:43
  a
• 11:43
  distributor
• 11:44
  with
• 11:44
  only
• 11:45
  surgeon
• 11:46
  relationships
• 11:47
  won't
• 11:47
  get
• 11:47
  them
• 11:47
  listed.
• 11:48
  They
• 11:48
  actually
• 11:48
  need
• 11:49
  access
• 11:49
  to
• 11:49
  theater,
• 11:50
  operations
• 11:51
  and
• 11:51
  procurement.
• 11:52
  That
• 11:52
  changes
• 11:53
  who
• 11:53
  qualified
• 11:54
  as
• 11:54
  a
• 11:54
  viable
• 11:54
  partner.
• 11:55
  So
• 11:55
  hopefully
• 11:56
  as
• 11:56
  I'm
• 11:56
  going
• 11:57
  through
• 11:57
  it,
• 11:57
  you
• 11:57
  can
• 11:57
  see
• 11:58
  that
• 11:58
  the
• 11:58
  more
• 11:59
  specific
• 11:59
  you
• 11:59
  get
• 12:00
  in
• 12:00
  your
• 12:00
  business
• 12:01
  plan,
• 12:01
  and
• 12:02
  remember,
• 12:02
  we're
• 12:02
  still
• 12:03
  in
• 12:03
  the
• 12:03
  commercial
• 12:03
  redness
• 12:04
  stage
• 12:04
  here,
• 12:05
  but
• 12:05
  the
• 12:05
  more
• 12:05
  specific
• 12:06
  you're
• 12:06
  getting
• 12:07
  in
• 12:07
  everything
• 12:08
  that
• 12:08
  you
• 12:08
  do,
• 12:09
  it
• 12:09
  affects
• 12:10
  everything
• 12:10
  in
• 12:11
  terms
• 12:11
  of
• 12:11
  distributor
• 12:11
  selection,
• 12:12
  in
• 12:12
  terms
• 12:12
  of
• 12:12
  value
• 12:13
  proposition,
• 12:13
  et
• 12:14
  cetera.
• 12:14
  So
• 12:14
  we're
• 12:14
  now
• 12:15
  moving
• 12:15
  on
• 12:15
  to.
• 12:16
  C
• 12:17
  economic
• 12:17
  narrative
• 12:18
  because
• 12:19
  you,
• 12:19
  what
• 12:19
  you
• 12:19
  want
• 12:19
  to
• 12:19
  do
• 12:20
  is
• 12:20
  match
• 12:20
  the
• 12:20
  system
• 12:21
  incentive
• 12:22
  so.
• 12:23
  Saying
• 12:24
  that
• 12:24
  the
• 12:24
  economic
• 12:25
  narrative
• 12:25
  is,
• 12:25
  oh,
• 12:26
  it
• 12:26
  improves
• 12:26
  workflow
• 12:27
  and
• 12:27
  safety
• 12:28
  is
• 12:28
  not
• 12:28
  really
• 12:29
  the
• 12:29
  sort
• 12:30
  of
• 12:30
  economic
• 12:30
  narrative
• 12:31
  that
• 12:31
  is
• 12:31
  gonna
• 12:31
  get
• 12:32
  you
• 12:32
  used.
• 12:33
  What
• 12:33
  you
• 12:33
  need
• 12:34
  is
• 12:34
  something
• 12:35
  which
• 12:36
  is
• 12:36
  a
• 12:36
  bit
• 12:36
  more,
• 12:37
  specific.
• 12:37
  So
• 12:37
  you'd
• 12:38
  say
• 12:38
  it
• 12:38
  reduces
• 12:39
  three
• 12:39
  to
• 12:39
  turnaround
• 12:40
  time
• 12:40
  by
• 12:40
  seven
• 12:40
  to
• 12:41
  10
• 12:41
  minutes
• 12:41
  per
• 12:41
  case,
• 12:42
  potentially
• 12:43
  increasing
• 12:43
  daily
• 12:43
  procedure.
• 12:44
  Capacity.
• 12:45
  It
• 12:45
  lowers
• 12:46
  cross
• 12:46
  contamination
• 12:47
  risk.
• 12:47
  It
• 12:47
  therefore
• 12:48
  reduces
• 12:48
  re
• 12:49
  sterilization
• 12:49
  events
• 12:50
  and
• 12:50
  associated
• 12:50
  costs.
• 12:51
  And
• 12:51
  the
• 12:51
  best
• 12:52
  thing
• 12:52
  in
• 12:52
  all
• 12:52
  of
• 12:52
  these
• 12:53
  is
• 12:53
  try
• 12:53
  to
• 12:53
  find
• 12:53
  those
• 12:54
  costs,
• 12:54
  from
• 12:55
  that
• 12:55
  specific
• 12:55
  facility
• 12:56
  so
• 12:56
  you
• 12:56
  can
• 12:56
  put
• 12:57
  some
• 12:57
  numbers
• 12:57
  on
• 12:57
  it.
• 12:58
  Because
• 12:58
  in
• 12:58
  publicly
• 12:59
  funded
• 13:00
  systems,
• 13:00
  capacity
• 13:01
  and
• 13:01
  efficiency
• 13:02
  story
• 13:02
  leads
• 13:03
  and
• 13:03
  in
• 13:03
  private
• 13:04
  systems
• 13:04
  revenue
• 13:04
  per
• 13:04
  theater,
• 13:05
  our
• 13:06
  and
• 13:06
  in
• 13:06
  private
• 13:07
  system
• 13:07
  revenue
• 13:08
  per
• 13:08
  theater
• 13:09
  hour.
• 13:09
  Story
• 13:10
  may
• 13:10
  well
• 13:10
  be
• 13:10
  the
• 13:11
  leader.
• 13:11
  It's
• 13:11
  the
• 13:12
  same
• 13:12
  products,
• 13:13
  but
• 13:13
  you
• 13:13
  have
• 13:13
  a
• 13:13
  different
• 13:14
  economic
• 13:15
  trigger.
• 13:16
  So
• 13:16
  if
• 13:16
  your
• 13:17
  export
• 13:17
  business
• 13:17
  plan
• 13:18
  doesn't
• 13:18
  adapt
• 13:19
  the
• 13:19
  narrative
• 13:20
  per
• 13:20
  system,
• 13:21
  then
• 13:21
  your
• 13:21
  adoption
• 13:22
  is
• 13:22
  going
• 13:23
  to
• 13:23
  stall.
• 13:23
  So
• 13:23
  then
• 13:24
  we
• 13:24
  move
• 13:24
  on
• 13:25
  to
• 13:25
  D,
• 13:26
  which
• 13:26
  is
• 13:27
  about
• 13:27
  engineering
• 13:28
  distributor
• 13:29
  behavior.
• 13:29
  'cause
• 13:30
  I'm
• 13:30
  assuming
• 13:31
  that
• 13:31
  you'll
• 13:31
  be
• 13:31
  growing
• 13:32
  your
• 13:32
  export
• 13:33
  business
• 13:34
  with
• 13:34
  distributors.
• 13:35
  So
• 13:35
  what
• 13:36
  I'm
• 13:36
  talking
• 13:36
  about
• 13:36
  here
• 13:37
  is
• 13:37
  making
• 13:37
  sure
• 13:38
  that
• 13:38
  you
• 13:39
  know
• 13:39
  what
• 13:40
  makes
• 13:40
  the
• 13:40
  distributors
• 13:41
  tick,
• 13:41
  really,
• 13:41
  and
• 13:41
  then
• 13:42
  how
• 13:42
  do
• 13:42
  you
• 13:42
  manage
• 13:42
  and
• 13:42
  monitor
• 13:43
  them
• 13:43
  to
• 13:43
  make
• 13:44
  sure
• 13:44
  that
• 13:44
  you
• 13:45
  drive
• 13:45
  them
• 13:45
  to
• 13:46
  deliver,
• 13:46
  a
• 13:46
  successful
• 13:47
  launch
• 13:48
  within
• 13:49
  that
• 13:49
  market.
• 13:49
  So.
• 13:50
  The
• 13:50
  first
• 13:51
  thing
• 13:51
  that
• 13:51
  you
• 13:51
  want
• 13:52
  to
• 13:52
  look
• 13:52
  at
• 13:52
  is
• 13:52
  what's
• 13:53
  the
• 13:53
  distributor
• 13:53
  margin?
• 13:54
  What's
• 13:54
  gonna
• 13:54
  make
• 13:54
  that
• 13:55
  person
• 13:55
  motivated?
• 13:56
  So
• 13:56
  rather
• 13:57
  than
• 13:57
  just
• 13:57
  saying,
• 13:57
  oh,
• 13:57
  well
• 13:58
  actually
• 13:59
  I
• 13:59
  wanna
• 13:59
  pick
• 14:00
  an
• 14:00
  arbitrary
• 14:00
  figure
• 14:00
  and
• 14:01
  say,
• 14:01
  well,
• 14:01
  I
• 14:01
  wanna
• 14:01
  give
• 14:01
  a
• 14:01
  distributor
• 14:02
  25%,
• 14:02
  because
• 14:02
  I
• 14:02
  think
• 14:03
  that's
• 14:03
  re
• 14:03
  reasonable.
• 14:04
  What
• 14:04
  you
• 14:04
  want
• 14:04
  to
• 14:05
  put
• 14:05
  in
• 14:05
  your
• 14:05
  plan
• 14:06
  is,
• 14:06
  what
• 14:07
  that
• 14:07
  market
• 14:08
  should
• 14:08
  be
• 14:09
  aligned
• 14:10
  with
• 14:10
  other
• 14:10
  products,
• 14:11
  in
• 14:12
  that
• 14:12
  marketplace
• 14:13
  that
• 14:13
  the
• 14:14
  distributors
• 14:14
  may
• 14:14
  be
• 14:14
  selling.
• 14:15
  So
• 14:15
  you
• 14:15
  look.
• 14:16
  And
• 14:16
  you'd
• 14:16
  speak
• 14:16
  to
• 14:16
  people
• 14:17
  in
• 14:17
  the
• 14:17
  market
• 14:18
  for
• 14:18
  example,
• 14:18
  understand
• 14:19
  that
• 14:19
  the
• 14:19
  gross
• 14:20
  margin
• 14:20
  that,
• 14:21
  people
• 14:21
  generally
• 14:22
  work
• 14:22
  towards
• 14:23
  or
• 14:23
  distributors
• 14:23
  generally
• 14:23
  work
• 14:24
  towards,
• 14:24
  with
• 14:25
  single
• 14:25
  use
• 14:26
  surgical
• 14:26
  consumers
• 14:27
  that
• 14:27
  so
• 14:27
  then
• 14:28
  what
• 14:28
  you
• 14:28
  try
• 14:28
  to
• 14:28
  do
• 14:28
  is
• 14:28
  benchmark
• 14:30
  that
• 14:30
  product
• 14:31
  and
• 14:31
  the
• 14:31
  margin.
• 14:32
  So
• 14:32
  let's
• 14:32
  say
• 14:33
  for
• 14:33
  example,
• 14:33
  you
• 14:33
  found
• 14:33
  out
• 14:34
  that
• 14:34
  the,
• 14:34
  benchmark
• 14:35
  for
• 14:35
  single
• 14:36
  use
• 14:36
  surgical
• 14:37
  consumables
• 14:38
  in
• 14:38
  that
• 14:38
  target
• 14:38
  market
• 14:39
  was
• 14:39
  30
• 14:39
  to
• 14:39
  35%.
• 14:40
  That's
• 14:40
  what
• 14:41
  you'd
• 14:41
  offer.
• 14:41
  You
• 14:41
  may
• 14:42
  offer
• 14:42
  slightly
• 14:43
  less
• 14:43
  'cause
• 14:43
  you're
• 14:43
  gonna
• 14:43
  negotiate
• 14:44
  upwards
• 14:44
  or
• 14:44
  you
• 14:44
  might
• 14:45
  offer
• 14:45
  slightly
• 14:46
  more.
• 14:46
  To
• 14:47
  make
• 14:47
  them
• 14:47
  more
• 14:47
  motivated,
• 14:48
  but
• 14:48
  you
• 14:48
  need
• 14:48
  to
• 14:48
  have
• 14:48
  an
• 14:48
  understanding
• 14:50
  of
• 14:50
  what
• 14:50
  it's
• 14:50
  like
• 14:50
  in
• 14:50
  that
• 14:51
  market
• 14:51
  so
• 14:51
  that
• 14:51
  you
• 14:52
  can
• 14:52
  give
• 14:52
  them
• 14:53
  a
• 14:53
  decent
• 14:54
  margin,
• 14:55
  that
• 14:55
  they're
• 14:55
  gonna
• 14:55
  be
• 14:55
  motivated
• 14:56
  by.
• 14:56
  Then
• 14:57
  you
• 14:57
  then
• 14:57
  wanna
• 14:58
  understand,
• 14:58
  okay,
• 14:58
  so
• 14:58
  how
• 14:59
  am
• 14:59
  I
• 14:59
  gonna
• 14:59
  make
• 14:59
  sure
• 14:59
  that
• 15:00
  we're
• 15:00
  measuring
• 15:00
  and
• 15:00
  monitoring
• 15:01
  that
• 15:01
  individual
• 15:02
  distributor,
• 15:02
  so
• 15:03
  you'd
• 15:03
  put
• 15:03
  in
• 15:03
  quarterly
• 15:03
  performance
• 15:04
  milestones,
• 15:05
  which
• 15:05
  are
• 15:05
  then
• 15:05
  tied
• 15:06
  to
• 15:06
  the
• 15:06
  exclusivity
• 15:07
  in
• 15:07
  that
• 15:08
  marketplace.
• 15:09
  And
• 15:09
  then
• 15:09
  you'd
• 15:09
  have,
• 15:10
  a
• 15:10
  initial.
• 15:11
  Three
• 15:12
  month
• 15:12
  stock
• 15:12
  holding
• 15:12
  requirement
• 15:13
  to
• 15:13
  make
• 15:13
  sure
• 15:13
  they
• 15:13
  didn't
• 15:13
  run
• 15:14
  out
• 15:14
  stock.
• 15:15
  So
• 15:15
  these
• 15:15
  are
• 15:15
  the
• 15:15
  things
• 15:16
  that
• 15:16
  you'd
• 15:16
  put
• 15:16
  in
• 15:17
  that
• 15:17
  are
• 15:17
  part
• 15:17
  of
• 15:17
  the
• 15:17
  plan
• 15:18
  to
• 15:18
  make
• 15:18
  sure
• 15:19
  that
• 15:19
  when
• 15:19
  you're
• 15:19
  launching
• 15:19
  into
• 15:20
  a
• 15:20
  market,
• 15:20
  then
• 15:21
  it's
• 15:21
  working
• 15:21
  effectively.
• 15:22
  Then
• 15:22
  you've
• 15:22
  gotta
• 15:23
  start
• 15:23
  looking
• 15:23
  at
• 15:23
  some
• 15:23
  targeted
• 15:24
  accounts,
• 15:25
  and
• 15:25
  you'd
• 15:25
  be
• 15:25
  happy,
• 15:26
  you'd
• 15:26
  suggest
• 15:27
  that
• 15:27
  you're
• 15:27
  happy
• 15:28
  to
• 15:28
  co-fund
• 15:29
  launch
• 15:29
  activity
• 15:30
  for
• 15:30
  maybe
• 15:31
  those
• 15:31
  first
• 15:31
  five
• 15:32
  targeted
• 15:32
  accounts.
• 15:33
  'cause
• 15:33
  then
• 15:33
  it's
• 15:33
  showing
• 15:34
  that
• 15:34
  you're
• 15:34
  committed
• 15:35
  as
• 15:35
  much
• 15:35
  as
• 15:36
  they're
• 15:36
  committed.
• 15:36
  And
• 15:37
  then
• 15:37
  the
• 15:37
  incentives.
• 15:38
  To
• 15:38
  that
• 15:38
  distributor
• 15:39
  a
• 15:39
  clear,
• 15:39
  and
• 15:40
  there's
• 15:40
  a
• 15:40
  lot
• 15:40
  more
• 15:40
  we
• 15:40
  could
• 15:40
  go
• 15:41
  into
• 15:42
  here,
• 15:42
  but.
• 15:43
  What
• 15:43
  you're
• 15:44
  really
• 15:44
  trying
• 15:44
  to
• 15:44
  do
• 15:45
  is
• 15:45
  match
• 15:46
  what
• 15:46
  you
• 15:47
  are
• 15:47
  trying
• 15:47
  to
• 15:48
  achieve
• 15:48
  in
• 15:48
  the
• 15:48
  market
• 15:49
  with
• 15:49
  what
• 15:49
  they're
• 15:49
  trying
• 15:49
  to
• 15:50
  achieve
• 15:50
  in
• 15:50
  the
• 15:50
  market,
• 15:50
  and
• 15:50
  then
• 15:51
  document
• 15:51
  it
• 15:51
  in
• 15:51
  a
• 15:51
  distribution
• 15:52
  agreement
• 15:53
  to
• 15:53
  make
• 15:53
  sure
• 15:54
  that
• 15:55
  all
• 15:55
  of
• 15:56
  the
• 15:56
  things
• 15:57
  are
• 15:57
  clear.
• 15:58
  The
• 15:58
  distributor
• 15:58
  knows
• 15:58
  what
• 15:59
  their
• 15:59
  responsibilities
• 15:59
  are,
• 16:00
  you
• 16:00
  know
• 16:00
  what
• 16:00
  your
• 16:00
  responsibilities
• 16:01
  are.
• 16:02
  And
• 16:02
  I'm
• 16:02
  gonna
• 16:02
  do
• 16:03
  a
• 16:03
  completely
• 16:03
  separate
• 16:04
  episode
• 16:04
  on
• 16:05
  the
• 16:05
  best
• 16:05
  way
• 16:06
  to
• 16:06
  construct
• 16:06
  a
• 16:07
  distributor
• 16:07
  agreement.
• 16:08
  so
• 16:08
  watch
• 16:09
  out
• 16:09
  for
• 16:09
  that
• 16:09
  one.
• 16:09
  Then
• 16:10
  we
• 16:10
  move
• 16:10
  on
• 16:10
  to
• 16:10
  e
• 16:11
  adoption
• 16:12
  trigger.
• 16:12
  What
• 16:13
  does
• 16:13
  adoption
• 16:13
  trigger
• 16:14
  mean?
• 16:15
  I
• 16:15
  hear
• 16:15
  you
• 16:15
  cry.
• 16:16
  This
• 16:16
  is
• 16:16
  about
• 16:17
  how
• 16:18
  do
• 16:18
  you
• 16:19
  get
• 16:19
  movement,
• 16:20
  how
• 16:20
  do
• 16:20
  you
• 16:20
  get
• 16:20
  adoption,
• 16:21
  what
• 16:21
  are
• 16:21
  the
• 16:21
  triggers,
• 16:22
  to
• 16:22
  get
• 16:23
  adoption
• 16:24
  of
• 16:24
  your
• 16:24
  products
• 16:25
  in
• 16:25
  those
• 16:26
  hospitals
• 16:27
  and
• 16:27
  those
• 16:27
  groups.
• 16:28
  So
• 16:28
  this
• 16:28
  is
• 16:28
  a
• 16:28
  big
• 16:28
  area
• 16:29
  where
• 16:29
  most
• 16:29
  export
• 16:30
  plans
• 16:30
  don't
• 16:31
  have
• 16:31
  an
• 16:31
  answer,
• 16:31
  and
• 16:32
  there's
• 16:32
  nothing
• 16:32
  in
• 16:32
  there
• 16:33
  about
• 16:33
  it
• 16:33
  because
• 16:34
  generally
• 16:35
  you'll
• 16:35
  describe
• 16:35
  the
• 16:35
  product,
• 16:36
  you'll
• 16:36
  describe
• 16:36
  the
• 16:36
  benefits,
• 16:37
  you'll
• 16:37
  describe
• 16:38
  potentially
• 16:39
  the
• 16:39
  margin
• 16:39
  that
• 16:39
  you
• 16:39
  want
• 16:40
  to
• 16:40
  make
• 16:40
  But
• 16:40
  you
• 16:40
  never
• 16:41
  define
• 16:42
  what
• 16:42
  makes
• 16:43
  the
• 16:43
  hospital
• 16:44
  act.
• 16:44
  Hospitals
• 16:45
  don't
• 16:45
  adopt
• 16:46
  because
• 16:46
  something
• 16:47
  is
• 16:47
  interesting.
• 16:48
  They
• 16:48
  adopt
• 16:48
  because
• 16:49
  something
• 16:49
  is
• 16:49
  pressing
• 16:50
  there
• 16:50
  if
• 16:51
  a
• 16:51
  compelling
• 16:52
  reason
• 16:53
  for
• 16:53
  them
• 16:53
  to
• 16:53
  use.
• 16:54
  So
• 16:54
  what
• 16:54
  also
• 16:55
  flow
• 16:55
  needs
• 16:56
  to
• 16:56
  define
• 16:56
  is.
• 16:57
  It's
• 16:57
  primary
• 16:57
  trigger,
• 16:58
  IE
• 16:59
  it
• 16:59
  may
• 16:59
  be
• 16:59
  theater
• 16:59
  capacity
• 17:00
  bottleneck
• 17:01
  during
• 17:01
  peak
• 17:01
  demand
• 17:02
  that
• 17:02
  makes
• 17:03
  the
• 17:03
  hospital
• 17:04
  acts.
• 17:04
  The
• 17:04
  secondary
• 17:05
  trigger
• 17:05
  may
• 17:05
  be
• 17:05
  there's
• 17:06
  an
• 17:06
  infection
• 17:07
  control
• 17:07
  audit
• 17:07
  finding.
• 17:08
  And
• 17:08
  then
• 17:09
  the
• 17:09
  acceleration
• 17:10
  trigger.
• 17:10
  The
• 17:10
  thing
• 17:11
  that's
• 17:11
  really
• 17:11
  gonna
• 17:12
  start
• 17:12
  the
• 17:12
  adoption
• 17:13
  is
• 17:13
  there's
• 17:13
  an
• 17:13
  adoption
• 17:14
  by
• 17:14
  flagship
• 17:15
  Orthopedic
• 17:15
  Center
• 17:16
  in
• 17:17
  the
• 17:17
  same
• 17:17
  network
• 17:17
  all
• 17:18
  of
• 17:18
  a
• 17:18
  sudden.
• 17:19
  You've
• 17:19
  got
• 17:19
  people
• 17:19
  who
• 17:19
  are
• 17:19
  interested
• 17:20
  because
• 17:20
  there's
• 17:21
  a
• 17:21
  bottleneck,
• 17:22
  during
• 17:22
  peak
• 17:22
  demand,
• 17:23
  which
• 17:23
  people
• 17:23
  are
• 17:23
  aware
• 17:24
  of.
• 17:24
  There's
• 17:24
  an
• 17:24
  infection
• 17:25
  control
• 17:25
  audit
• 17:25
  finding,
• 17:26
  which
• 17:26
  suggests
• 17:27
  that
• 17:27
  you
• 17:27
  need
• 17:27
  to
• 17:27
  do
• 17:27
  something,
• 17:28
  different.
• 17:29
  And
• 17:29
  then
• 17:29
  you
• 17:30
  see
• 17:30
  there's
• 17:30
  adoption
• 17:31
  by
• 17:31
  a
• 17:31
  flagship
• 17:31
  orthopedic
• 17:32
  center
• 17:32
  in
• 17:33
  the
• 17:33
  same
• 17:33
  network.
• 17:34
  And
• 17:34
  referrals
• 17:35
  and
• 17:35
  third
• 17:35
  party
• 17:36
  references
• 17:36
  still
• 17:38
  are
• 17:38
  effective
• 17:39
  today
• 17:39
  as
• 17:39
  they
• 17:39
  have
• 17:40
  been
• 17:40
  for
• 17:40
  the
• 17:40
  past
• 17:40
  20
• 17:40
  or
• 17:41
  30
• 17:41
  years.
• 17:41
  So
• 17:41
  when
• 17:42
  you
• 17:42
  have
• 17:42
  that
• 17:42
  primary
• 17:42
  trigger,
• 17:43
  that
• 17:43
  secondary
• 17:43
  trigger
• 17:44
  and
• 17:44
  that
• 17:44
  acceleration
• 17:45
  trigger.
• 17:46
  The
• 17:46
  distributor
• 17:47
  conversations
• 17:47
  change.
• 17:48
  So
• 17:48
  instead
• 17:49
  of,
• 17:49
  oh,
• 17:49
  let's
• 17:49
  arrange
• 17:49
  some
• 17:50
  meetings,
• 17:50
  you're
• 17:51
  asking
• 17:51
  more
• 17:51
  specific
• 17:51
  questions.
• 17:52
  IE
• 17:53
  which
• 17:53
  hospitals
• 17:54
  are
• 17:54
  under
• 17:54
  capacity
• 17:55
  pressure,
• 17:56
  which
• 17:56
  networks
• 17:57
  are
• 17:57
  currently
• 17:58
  reviewing
• 17:59
  infection
• 17:59
  performance
• 18:00
  and
• 18:01
  who's
• 18:01
  just
• 18:01
  had
• 18:01
  an
• 18:01
  audit
• 18:01
  issue?
• 18:02
  Now
• 18:03
  you're
• 18:03
  targeting
• 18:04
  pain.
• 18:04
  You're
• 18:04
  finding
• 18:05
  what
• 18:05
  the
• 18:05
  pain
• 18:05
  point
• 18:05
  is,
• 18:06
  you're
• 18:06
  not
• 18:06
  targeting
• 18:06
  interest,
• 18:07
  and
• 18:07
  that's
• 18:08
  the
• 18:08
  difference
• 18:08
  between
• 18:09
  exporting
• 18:09
  a
• 18:09
  product
• 18:10
  and
• 18:10
  exporting
• 18:11
  a
• 18:11
  proposition.
• 18:12
  Products
• 18:13
  get
• 18:13
  compared.
• 18:14
  Propositions,
• 18:15
  solve
• 18:16
  something
• 18:17
  urgent.
• 18:17
  So
• 18:18
  what
• 18:19
  you
• 18:19
  need
• 18:19
  to
• 18:19
  do,
• 18:20
  and
• 18:20
  you
• 18:20
  don't
• 18:20
  write
• 18:20
  it
• 18:20
  down
• 18:20
  now
• 18:21
  because
• 18:21
  you're
• 18:21
  out
• 18:22
  running
• 18:22
  or
• 18:22
  whatever
• 18:22
  you're
• 18:22
  doing,
• 18:23
  then
• 18:24
  start
• 18:24
  thinking
• 18:25
  about
• 18:25
  what's
• 18:25
  your
• 18:26
  primary
• 18:26
  trigger
• 18:26
  for
• 18:27
  your
• 18:27
  product?
• 18:27
  What's
• 18:27
  the
• 18:27
  secondary
• 18:28
  trigger
• 18:28
  and
• 18:28
  what's
• 18:28
  the
• 18:28
  acceleration
• 18:29
  trigger?
• 18:29
  And
• 18:30
  write
• 18:30
  them
• 18:30
  down
• 18:31
  because
• 18:31
  you
• 18:32
  need
• 18:32
  to
• 18:32
  know
• 18:33
  what
• 18:33
  they
• 18:33
  are
• 18:33
  for
• 18:33
  your
• 18:34
  product
• 18:35
  or
• 18:35
  your
• 18:35
  service
• 18:36
  so
• 18:36
  that
• 18:36
  when
• 18:36
  you're
• 18:36
  speaking
• 18:37
  to
• 18:37
  distributors.
• 18:38
  You
• 18:38
  can
• 18:38
  be
• 18:39
  explaining
• 18:39
  that
• 18:40
  so
• 18:40
  they're
• 18:40
  then
• 18:40
  targeting
• 18:41
  the
• 18:41
  right
• 18:41
  people
• 18:42
  at
• 18:43
  the
• 18:43
  right
• 18:43
  time.
• 18:44
  Just
• 18:44
  a
• 18:44
  quick
• 18:45
  check
• 18:45
  in
• 18:45
  here
• 18:45
  to
• 18:45
  make
• 18:46
  sure
• 18:46
  that
• 18:46
  you're
• 18:46
  all
• 18:46
  still
• 18:46
  with
• 18:47
  me,
• 18:47
  because
• 18:48
  I
• 18:48
  know
• 18:48
  there's
• 18:48
  a
• 18:48
  lot
• 18:48
  of
• 18:48
  information
• 18:49
  that
• 18:49
  we're
• 18:49
  going
• 18:49
  through
• 18:49
  here.
• 18:49
  So
• 18:50
  the
• 18:50
  first
• 18:50
  three
• 18:51
  key
• 18:51
  elements
• 18:52
  of
• 18:52
  a
• 18:52
  commercial
• 18:53
  structured
• 18:54
  export
• 18:55
  plan
• 18:56
  that
• 18:56
  we've
• 18:56
  just
• 18:56
  gone
• 18:56
  through
• 18:57
  are,
• 18:57
  number
• 18:57
  one,
• 18:58
  vision.
• 18:59
  Know
• 19:00
  where
• 19:00
  you're
• 19:00
  going
• 19:01
  and
• 19:01
  why
• 19:01
  you're
• 19:01
  doing
• 19:02
  it.
• 19:02
  Number
• 19:02
  two,
• 19:03
  it's
• 19:03
  about
• 19:03
  market
• 19:04
  selection.
• 19:04
  Going
• 19:05
  to
• 19:05
  the
• 19:05
  right
• 19:05
  market
• 19:06
  from
• 19:06
  the
• 19:06
  beginning,
• 19:07
  and
• 19:07
  then
• 19:08
  three
• 19:09
  commercial
• 19:09
  redness.
• 19:10
  Make
• 19:10
  sure
• 19:10
  that
• 19:10
  you
• 19:10
  understand.
• 19:12
  What
• 19:12
  and
• 19:12
  how
• 19:13
  you
• 19:13
  are
• 19:13
  offering
• 19:13
  your
• 19:13
  proposition
• 19:14
  to
• 19:14
  the
• 19:15
  market.
• 19:15
  And
• 19:16
  then
• 19:16
  that
• 19:16
  brings
• 19:16
  those
• 19:16
  two
• 19:17
  step
• 19:17
  four
• 19:18
  partner
• 19:18
  strategy.
• 19:19
  This
• 19:20
  is
• 19:20
  where
• 19:20
  emotion
• 19:21
  often
• 19:22
  kills
• 19:22
  the
• 19:22
  logic.
• 19:23
  Because
• 19:23
  founders
• 19:24
  often
• 19:24
  meet
• 19:25
  enthusiastic
• 19:26
  distributors,
• 19:27
  and
• 19:27
  then
• 19:27
  the
• 19:27
  founder
• 19:28
  feels
• 19:28
  very
• 19:28
  validated.
• 19:29
  The
• 19:29
  contract
• 19:30
  gets
• 19:30
  signed,
• 19:31
  the
• 19:31
  exclusivity
• 19:32
  is
• 19:32
  granted,
• 19:32
  but
• 19:32
  there's
• 19:33
  no
• 19:33
  performance
• 19:33
  milestones.
• 19:34
  And
• 19:34
  then
• 19:34
  12
• 19:35
  months
• 19:35
  later,
• 19:35
  the
• 19:35
  blame
• 19:36
  game
• 19:36
  starts.
• 19:36
  And
• 19:37
  that's
• 19:37
  why
• 19:37
  you
• 19:37
  need
• 19:37
  step
• 19:37
  three,
• 19:37
  because
• 19:38
  once
• 19:38
  you've
• 19:38
  defined
• 19:39
  all
• 19:39
  those
• 19:40
  things
• 19:40
  in
• 19:40
  step
• 19:40
  three,
• 19:41
  then
• 19:42
  it
• 19:42
  enables
• 19:42
  you.
• 19:43
  To
• 19:43
  have
• 19:44
  a
• 19:44
  business
• 19:44
  plan
• 19:44
  that
• 19:44
  can
• 19:45
  then
• 19:45
  define
• 19:46
  what
• 19:46
  type
• 19:47
  of
• 19:47
  distributor
• 19:47
  fits
• 19:48
  your
• 19:48
  stage,
• 19:48
  what
• 19:49
  are
• 19:49
  the
• 19:49
  KPIs
• 19:50
  that
• 19:50
  matter,
• 19:51
  what
• 19:51
  stock
• 19:51
  holding
• 19:51
  is
• 19:52
  required?
• 19:52
  What
• 19:53
  happens
• 19:53
  if
• 19:53
  they
• 19:53
  don't
• 19:54
  perform?
• 19:54
  And
• 19:54
  this
• 19:55
  has
• 19:55
  to
• 19:55
  all
• 19:56
  be
• 19:56
  tied
• 19:56
  into
• 19:56
  a
• 19:57
  clear
• 19:57
  distribution
• 19:58
  agreement.
• 19:59
  Absolutely
• 19:59
  no
• 19:59
  handshakes.
• 20:01
  I
• 20:01
  mean,
• 20:01
  you
• 20:01
  can't
• 20:01
  have
• 20:01
  a
• 20:01
  handshake,
• 20:02
  but
• 20:02
  what
• 20:02
  I
• 20:02
  mean
• 20:02
  is
• 20:03
  you
• 20:03
  don't
• 20:03
  handshake
• 20:03
  and
• 20:03
  then
• 20:03
  hopefully
• 20:04
  everything's
• 20:04
  gonna
• 20:04
  be
• 20:04
  all
• 20:04
  right.
• 20:05
  You
• 20:05
  need
• 20:05
  it
• 20:05
  clearly
• 20:06
  written
• 20:07
  down
• 20:08
  now,
• 20:08
  and
• 20:08
  I
• 20:08
  can't.
• 20:09
  Actually
• 20:09
  believe
• 20:10
  that
• 20:10
  I'm
• 20:10
  saying
• 20:10
  this,
• 20:11
  unfortunately,
• 20:12
  and
• 20:12
  whilst
• 20:12
  you
• 20:12
  may
• 20:13
  well
• 20:13
  be
• 20:13
  thinking
• 20:14
  that
• 20:14
  actually
• 20:14
  no
• 20:14
  one's
• 20:15
  ever
• 20:15
  gonna
• 20:15
  just
• 20:15
  have
• 20:15
  a
• 20:15
  handshake
• 20:16
  and
• 20:17
  then,
• 20:17
  put
• 20:17
  their
• 20:17
  business
• 20:18
  in
• 20:18
  the
• 20:18
  hand
• 20:18
  of
• 20:18
  someone
• 20:18
  else
• 20:19
  in
• 20:19
  a
• 20:19
  different
• 20:19
  market.
• 20:19
  Sadly,
• 20:20
  I've
• 20:20
  seen
• 20:20
  it
• 20:20
  many,
• 20:20
  many
• 20:20
  times,
• 20:21
  but
• 20:22
  it,
• 20:22
  as
• 20:22
  you
• 20:22
  probably
• 20:23
  can
• 20:24
  understand,
• 20:25
  it
• 20:25
  never
• 20:26
  really
• 20:26
  ends
• 20:27
  well.
• 20:28
  So
• 20:28
  that's
• 20:28
  step
• 20:28
  four,
• 20:29
  having
• 20:29
  a
• 20:29
  clear
• 20:30
  partner
• 20:31
  strategy.
• 20:31
  And
• 20:31
  then
• 20:31
  step
• 20:31
  five
• 20:32
  is
• 20:32
  the
• 20:33
  180
• 20:34
  day
• 20:34
  reality
• 20:35
  check.
• 20:36
  This
• 20:36
  is
• 20:36
  the
• 20:36
  part
• 20:37
  that,
• 20:37
  again,
• 20:38
  people
• 20:38
  don't
• 20:38
  tend
• 20:39
  to
• 20:39
  write
• 20:39
  down
• 20:39
  what's
• 20:40
  gonna
• 20:40
  happen
• 20:41
  in
• 20:41
  the
• 20:41
  first
• 20:41
  six
• 20:42
  months
• 20:42
  in
• 20:43
  that
• 20:43
  export
• 20:43
  market?
• 20:44
  Who
• 20:44
  is
• 20:44
  the
• 20:44
  first
• 20:45
  reference
• 20:45
  site
• 20:46
  that
• 20:46
  you're
• 20:46
  trying
• 20:46
  to
• 20:46
  achieve?
• 20:47
  Who
• 20:47
  is
• 20:48
  the
• 20:48
  ca
• 20:48
  opinion
• 20:49
  leader
• 20:49
  that
• 20:49
  your
• 20:50
  charter
• 20:50
  influence?
• 20:51
  What
• 20:51
  evidence
• 20:51
  are
• 20:51
  you
• 20:52
  collecting?
• 20:52
  When
• 20:53
  do
• 20:53
  you
• 20:53
  review
• 20:53
  performance?
• 20:54
  What
• 20:54
  metric
• 20:55
  proves
• 20:56
  traction?
• 20:57
  Regulatory
• 20:57
  approval
• 20:58
  is
• 20:58
  the
• 20:58
  starting
• 20:59
  point.
• 21:00
  If
• 21:00
  your
• 21:00
  business
• 21:00
  plan
• 21:00
  ends
• 21:01
  at
• 21:01
  approval,
• 21:02
  you've
• 21:02
  planned
• 21:03
  compliance,
• 21:04
  you
• 21:04
  actually
• 21:05
  haven't
• 21:05
  planned
• 21:06
  growth.
• 21:07
  So
• 21:07
  we've
• 21:07
  now
• 21:08
  been
• 21:08
  through
• 21:09
  the
• 21:09
  five
• 21:10
  steps.
• 21:11
  Remember,
• 21:11
  step
• 21:11
  one
• 21:12
  is
• 21:12
  division.
• 21:13
  Step
• 21:13
  two
• 21:13
  is
• 21:13
  market
• 21:14
  prioritization.
• 21:15
  Step
• 21:15
  three
• 21:15
  is
• 21:16
  commercial
• 21:16
  redness.
• 21:17
  Step
• 21:17
  four
• 21:17
  is
• 21:17
  partner
• 21:18
  strategy,
• 21:19
  and
• 21:19
  step
• 21:19
  five
• 21:19
  is
• 21:19
  the
• 21:19
  180
• 21:20
  day
• 21:21
  reality
• 21:21
  check.
• 21:22
  And
• 21:22
  I'm
• 21:22
  gonna
• 21:23
  do
• 21:23
  each
• 21:24
  one
• 21:24
  of
• 21:24
  those
• 21:24
  a
• 21:24
  separate
• 21:25
  episodes,
• 21:26
  just
• 21:26
  as
• 21:26
  I
• 21:26
  did
• 21:26
  with
• 21:27
  the
• 21:27
  vision,
• 21:28
  to
• 21:28
  make
• 21:28
  sure
• 21:28
  that
• 21:28
  we
• 21:28
  can
• 21:29
  go
• 21:29
  through
• 21:29
  it
• 21:29
  and
• 21:29
  workshop
• 21:30
  it
• 21:30
  and
• 21:30
  then
• 21:30
  actually
• 21:31
  go
• 21:31
  through
• 21:31
  your
• 21:31
  plan
• 21:32
  into
• 21:32
  the
• 21:32
  market
• 21:32
  prioritization,
• 21:34
  et
• 21:34
  cetera,
• 21:35
  commercial
• 21:35
  redness.
• 21:36
  if
• 21:36
  I
• 21:36
  was
• 21:36
  to
• 21:36
  ask
• 21:37
  you
• 21:37
  today.
• 21:38
  Show
• 21:38
  me
• 21:38
  your
• 21:39
  export
• 21:39
  business
• 21:39
  plan.
• 21:40
  Would
• 21:41
  you
• 21:41
  show
• 21:41
  them
• 21:42
  a
• 21:42
  slide
• 21:42
  deck
• 21:43
  that
• 21:43
  you
• 21:43
  prepared
• 21:44
  or
• 21:44
  would
• 21:44
  you
• 21:44
  show
• 21:45
  them
• 21:45
  a
• 21:45
  structured
• 21:46
  commercial
• 21:46
  system
• 21:47
  like
• 21:47
  I've
• 21:48
  just
• 21:48
  been
• 21:48
  through?
• 21:49
  Because
• 21:50
  if
• 21:50
  it's
• 21:50
  not
• 21:51
  the
• 21:51
  latter
• 21:52
  IEA
• 21:52
  structured
• 21:52
  commercial
• 21:53
  system,
• 21:53
  then
• 21:53
  you're
• 21:54
  not
• 21:54
  really
• 21:54
  setting
• 21:54
  yourself
• 21:55
  up
• 21:55
  for
• 21:56
  export
• 21:57
  success.
• 21:57
  Because
• 21:58
  export
• 21:58
  isn't
• 21:59
  about
• 22:00
  building
• 22:00
  slide
• 22:01
  decks
• 22:01
  or
• 22:01
  building
• 22:02
  what
• 22:02
  looks
• 22:02
  good
• 22:02
  on
• 22:03
  paper
• 22:03
  that
• 22:03
  you're
• 22:03
  never
• 22:03
  gonna
• 22:04
  use.
• 22:05
  It's
• 22:05
  about
• 22:06
  building
• 22:07
  a
• 22:07
  clear
• 22:08
  structure
• 22:09
  that
• 22:09
  you
• 22:09
  can
• 22:10
  execute.
• 22:11
  And
• 22:11
  the
• 22:11
  companies
• 22:12
  that
• 22:12
  treat
• 22:12
  export
• 22:13
  as
• 22:13
  a
• 22:13
  system
• 22:13
  are
• 22:14
  the
• 22:14
  ones
• 22:14
  that
• 22:14
  scale,
• 22:15
  the
• 22:15
  ones
• 22:15
  that
• 22:15
  treat
• 22:16
  it
• 22:16
  as
• 22:16
  an
• 22:16
  opportunity,
• 22:17
  to
• 22:18
  hopefully
• 22:18
  get
• 22:18
  into
• 22:18
  other
• 22:18
  markets.
• 22:19
  They're
• 22:19
  not
• 22:20
  the
• 22:20
  ones
• 22:20
  that
• 22:21
  are
• 22:21
  gonna
• 22:21
  deliver,
• 22:21
  they're
• 22:21
  gonna
• 22:21
  store.
• 22:22
  But
• 22:22
  before
• 22:23
  I
• 22:23
  close
• 22:23
  this
• 22:23
  episode,
• 22:24
  let
• 22:24
  me
• 22:25
  give
• 22:25
  you
• 22:26
  this
• 22:26
  week's
• 22:27
  decision
• 22:28
  point
• 22:28
  scenario
• 22:29
  because
• 22:30
  frameworks
• 22:31
  are
• 22:31
  very
• 22:31
  easy
• 22:32
  to
• 22:32
  not
• 22:32
  belong
• 22:32
  to,
• 22:33
  but
• 22:33
  they're
• 22:33
  a
• 22:33
  lot
• 22:34
  harder
• 22:34
  to
• 22:34
  apply.
• 22:35
  So
• 22:35
  I
• 22:35
  want
• 22:35
  you
• 22:35
  to
• 22:36
  use
• 22:36
  the
• 22:36
  framework
• 22:37
  that
• 22:37
  we've
• 22:37
  just
• 22:37
  been
• 22:37
  through.
• 22:38
  And
• 22:39
  here's
• 22:39
  the
• 22:39
  scenario.
• 22:40
  Imagine
• 22:41
  this,
• 22:42
  you're
• 22:42
  a
• 22:42
  MedTech
• 22:42
  founder,
• 22:43
  which
• 22:43
  you
• 22:44
  are.
• 22:44
  Uh,
• 22:45
  you've
• 22:45
  got,
• 22:46
  uh,
• 22:46
  a
• 22:46
  c
• 22:47
  Mark
• 22:47
  products.
• 22:48
  You've
• 22:48
  got
• 22:48
  small
• 22:49
  but
• 22:49
  solid
• 22:49
  UK
• 22:50
  pilot.
• 22:51
  You've
• 22:51
  got
• 22:51
  limited
• 22:52
  cash
• 22:52
  runway
• 22:53
  international
• 22:54
  sales
• 22:54
  team.
• 22:55
  So
• 22:55
  you've
• 22:55
  just
• 22:55
  built
• 22:55
  your
• 22:56
  business
• 22:56
  plan
• 22:57
  on
• 22:57
  those
• 22:57
  five
• 22:58
  key
• 22:58
  principles
• 22:59
  and
• 22:59
  those
• 22:59
  five
• 23:00
  key
• 23:00
  stages
• 23:01
  that
• 23:01
  I've
• 23:01
  just
• 23:01
  presented
• 23:02
  in
• 23:03
  this
• 23:04
  podcast
• 23:04
  episode.
• 23:05
  And
• 23:06
  you're
• 23:06
  now
• 23:06
  looking
• 23:06
  at
• 23:06
  your
• 23:07
  market
• 23:07
  prioritization
• 23:09
  and
• 23:09
  your
• 23:09
  scoring
• 23:10
  within
• 23:10
  that
• 23:11
  prioritization
• 23:12
  have
• 23:12
  given
• 23:12
  you
• 23:13
  three
• 23:13
  possible
• 23:14
  priority
• 23:15
  one
• 23:16
  markets
• 23:16
  market
• 23:17
  a.
• 23:18
  It's
• 23:18
  large
• 23:19
  high
• 23:19
  revenue,
• 23:20
  ceiling
• 23:21
  complex
• 23:21
  reimbursement,
• 23:22
  long
• 23:23
  regulatory
• 23:23
  timeline.
• 23:24
  Two,
• 23:25
  strong
• 23:26
  established
• 23:26
  competitors.
• 23:28
  Market
• 23:28
  B
• 23:29
  is
• 23:29
  mid-sized,
• 23:30
  moderate
• 23:31
  regulatory
• 23:31
  complexity.
• 23:32
  Clear
• 23:33
  clinical
• 23:33
  need
• 23:34
  and
• 23:34
  one
• 23:35
  motivated
• 23:35
  distributor
• 23:36
  with
• 23:37
  the
• 23:37
  right
• 23:38
  align
• 23:38
  portfolio.
• 23:39
  And
• 23:39
  then
• 23:39
  market
• 23:40
  C
• 23:41
  is
• 23:41
  a
• 23:41
  smaller
• 23:42
  market,
• 23:43
  fast
• 23:43
  regulatory
• 23:44
  pathway,
• 23:45
  weak
• 23:45
  reimbursement
• 23:46
  structure.
• 23:47
  Does
• 23:47
  distributor
• 23:48
  interest,
• 23:48
  but
• 23:48
  they
• 23:49
  want
• 23:49
  exclusivity
• 23:50
  immediately.
• 23:51
  Now
• 23:52
  you
• 23:52
  have
• 23:52
  capacity
• 23:53
  to
• 23:53
  properly
• 23:54
  execute
• 23:55
  one
• 23:55
  market
• 23:56
  in
• 23:56
  the
• 23:56
  next
• 23:56
  12
• 23:57
  months,
• 23:57
  only
• 23:57
  one.
• 23:58
  So
• 23:58
  here's
• 23:59
  the
• 23:59
  question,
• 23:59
  which
• 24:00
  market
• 24:00
  do
• 24:00
  you
• 24:00
  choose
• 24:01
  first?
• 24:01
  And
• 24:02
  more
• 24:02
  importantly,
• 24:03
  why?
• 24:04
  Because
• 24:05
  this
• 24:05
  is
• 24:05
  where
• 24:05
  most
• 24:06
  business
• 24:06
  plans
• 24:06
  fall
• 24:07
  apart.
• 24:07
  They
• 24:08
  say
• 24:08
  that
• 24:08
  they're
• 24:08
  strategic,
• 24:09
  but
• 24:09
  when
• 24:09
  faced
• 24:10
  with
• 24:10
  trade-offs,
• 24:11
  they
• 24:11
  revert
• 24:12
  to
• 24:12
  emotion.
• 24:13
  So
• 24:13
  which
• 24:13
  would
• 24:13
  you
• 24:13
  choose?
• 24:14
  And
• 24:15
  in
• 24:15
  the
• 24:15
  next
• 24:15
  episode,
• 24:16
  I'm
• 24:16
  gonna
• 24:17
  talk
• 24:17
  you
• 24:17
  through
• 24:17
  exactly
• 24:18
  how
• 24:18
  to
• 24:18
  evaluate
• 24:19
  this
• 24:19
  using
• 24:20
  this
• 24:21
  business
• 24:21
  plan
• 24:21
  structure
• 24:21
  that
• 24:22
  I've
• 24:22
  just
• 24:22
  talked
• 24:22
  about.
• 24:23
  And
• 24:23
  then
• 24:23
  I'll
• 24:24
  tell
• 24:24
  you
• 24:24
  which
• 24:24
  one
• 24:24
  I'll
• 24:25
  choose.
• 24:25
  And
• 24:26
  if
• 24:26
  your
• 24:26
  export
• 24:27
  plan
• 24:27
  only
• 24:27
  works
• 24:28
  in
• 24:28
  PowerPoint
• 24:29
  but
• 24:29
  falls
• 24:29
  apart
• 24:30
  on
• 24:30
  the
• 24:30
  commercial
• 24:31
  pressure,
• 24:31
  you
• 24:31
  don't
• 24:32
  have
• 24:32
  a
• 24:32
  strategy.
• 24:33
  At
• 24:33
  the
• 24:33
  very
• 24:33
  best,
• 24:34
  you
• 24:34
  have
• 24:34
  a
• 24:34
  narrative.
• 24:35
  So
• 24:35
  understanding
• 24:36
  where
• 24:37
  your
• 24:37
  export
• 24:37
  structure
• 24:38
  is
• 24:38
  strong
• 24:39
  and
• 24:39
  where
• 24:39
  you
• 24:39
  are
• 24:39
  commercially
• 24:40
  exposed
• 24:41
  is
• 24:41
  the
• 24:41
  key
• 24:41
  to
• 24:41
  bringing
• 24:42
  your
• 24:42
  MedTech
• 24:42
  device
• 24:43
  to
• 24:43
  the
• 24:43
  market
• 24:44
  on
• 24:44
  a
• 24:44
  global
• 24:44
  scale.
• 24:45
  So
• 24:45
  to
• 24:46
  find
• 24:46
  out.
• 24:47
  What
• 24:47
  is
• 24:47
  holding
• 24:47
  you
• 24:47
  back?
• 24:48
  Book
• 24:48
  a
• 24:48
  free
• 24:49
  healthcare
• 24:49
  export
• 24:50
  accelerator
• 24:50
  discovery.
• 24:51
  Call
• 24:51
  with
• 24:51
  me
• 24:51
  now
• 24:52
  via
• 24:52
  the
• 24:52
  link
• 24:53
  in
• 24:53
  the
• 24:53
  show
• 24:53
  notes
• 24:54
  and
• 24:54
  on
• 24:54
  this
• 24:54
  call,
• 24:54
  I
• 24:55
  will
• 24:55
  personally
• 24:55
  audit
• 24:56
  your
• 24:56
  systems
• 24:57
  and
• 24:57
  tell
• 24:57
  you
• 24:57
  the
• 24:57
  exact
• 24:58
  next
• 24:58
  steps
• 24:58
  you
• 24:59
  need
• 24:59
  to
• 24:59
  take
• 25:00
  to
• 25:00
  help
• 25:00
  you
• 25:00
  accelerate
• 25:01
  your
• 25:02
  international
• 25:02
  growth.
• 25:03
  Thank
• 25:03
  for
• 25:03
  listening.
• 25:04
  Keep
• 25:04
  listening
• 25:05
  and
• 25:05
  keep
• 25:06
  growing.