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#209 | 5 Lessons You Should Know Before Commercializing & Exporting Your MedTech Product (For Clinicians) · Clinician to CEO : Export Your Medical Device With Confidence By Overcoming Go To Market Roadblocks For Medtech Growth

• 0:00
  So
• 0:00
  in
• 0:00
  this
• 0:00
  episode,
• 0:01
  you're
• 0:01
  gonna
• 0:01
  learn
• 0:02
  the
• 0:02
  five
• 0:02
  lessons
• 0:03
  every
• 0:04
  MedTech
• 0:04
  founder
• 0:04
  should
• 0:05
  know
• 0:05
  before
• 0:06
  taking
• 0:06
  a
• 0:06
  product
• 0:07
  to
• 0:07
  market
• 0:07
  Welcome
• 0:08
  to
• 0:08
  Clinician
• 0:09
  to
• 0:09
  CEO,
• 0:10
  the
• 0:10
  podcast
• 0:11
  helping
• 0:11
  clinicians
• 0:12
  simplify
• 0:12
  your
• 0:13
  go-to-market
• 0:13
  strategy
• 0:14
  so
• 0:14
  that
• 0:14
  you
• 0:14
  can
• 0:15
  stop
• 0:15
  guessing
• 0:16
  and
• 0:16
  turn
• 0:16
  your
• 0:16
  working
• 0:17
  prototypes
• 0:18
  into
• 0:18
  international
• 0:19
  MedTech
• 0:19
  businesses.
• 0:20
  I'm
• 0:20
  your
• 0:20
  host,
• 0:21
  Hakeem
• 0:21
  Aade.
• 0:22
  Let's
• 0:22
  get
• 0:23
  started.
• 0:23
  So
• 0:24
  the
• 0:24
  three
• 0:24
  things
• 0:24
  that
• 0:25
  you're
• 0:25
  gonna
• 0:25
  discover
• 0:25
  in
• 0:25
  this
• 0:25
  episode
• 0:26
  is,
• 0:26
  number
• 0:26
  one,
• 0:27
  why
• 0:27
  solving
• 0:28
  a
• 0:28
  clinical
• 0:28
  problem
• 0:29
  isn't
• 0:29
  enough
• 0:29
  to
• 0:29
  guarantee
• 0:30
  adoption.
• 0:31
  Number
• 0:31
  two,
• 0:32
  how
• 0:32
  to
• 0:33
  build
• 0:33
  commercial
• 0:34
  thinking
• 0:34
  into
• 0:34
  your
• 0:34
  product
• 0:34
  from
• 0:35
  day
• 0:35
  one.
• 0:35
  And
• 0:35
  number
• 0:35
  three,
• 0:36
  the
• 0:36
  mindset
• 0:37
  shifts
• 0:38
  that
• 0:38
  separate
• 0:38
  successful
• 0:39
  med
• 0:39
  tech
• 0:39
  founders
• 0:40
  from
• 0:40
  everyone
• 0:41
  else.
• 0:42
  Over
• 0:42
  the
• 0:42
  next
• 0:42
  few
• 0:42
  minutes,
• 0:43
  I'm
• 0:43
  gonna
• 0:43
  share
• 0:44
  the
• 0:44
  five
• 0:44
  biggest
• 0:45
  lessons
• 0:45
  that
• 0:45
  I
• 0:45
  took
• 0:46
  away
• 0:46
  from
• 0:46
  my
• 0:46
  conversation
• 0:47
  with
• 0:47
  Jordan
• 0:48
  Morrison.
• 0:48
  So
• 0:49
  let's
• 0:49
  get
• 0:49
  straight
• 0:50
  into
• 0:50
  it
• 0:51
  Takeaway
• 0:51
  number
• 0:51
  one
• 0:52
  is
• 0:52
  solving
• 0:52
  a
• 0:53
  problem
• 0:53
  unfortunately
• 0:54
  isn't
• 0:54
  enough,
• 0:55
  and
• 0:55
  Jordan
• 0:55
  introduced
• 0:56
  us
• 0:57
  to
• 0:57
  what
• 0:57
  she
• 0:57
  calls
• 0:58
  the
• 0:58
  ugly
• 0:59
  baby
• 0:59
  syndrome.
• 1:00
  Because
• 1:00
  as
• 1:00
  founders,
• 1:01
  it's
• 1:01
  really
• 1:02
  easy
• 1:02
  to
• 1:02
  believe
• 1:02
  that
• 1:03
  because
• 1:03
  we've
• 1:03
  experienced
• 1:04
  a
• 1:04
  problem
• 1:04
  ourselves,
• 1:05
  everyone
• 1:05
  else
• 1:06
  will
• 1:06
  want
• 1:06
  the
• 1:06
  same
• 1:07
  solution
• 1:07
  But
• 1:07
  solving
• 1:08
  a
• 1:08
  clinical
• 1:09
  problem
• 1:09
  doesn't
• 1:09
  automatically
• 1:10
  create
• 1:10
  a
• 1:10
  commercial
• 1:11
  opportunity,
• 1:11
  cause
• 1:12
  the
• 1:12
  real
• 1:12
  question
• 1:13
  isn't
• 1:13
  whether
• 1:13
  it's
• 1:13
  a
• 1:14
  problem,
• 1:14
  it's
• 1:14
  whether,
• 1:15
  as
• 1:15
  I've
• 1:15
  said
• 1:15
  many
• 1:16
  times,
• 1:16
  it's
• 1:16
  a
• 1:16
  priority
• 1:17
  that
• 1:17
  people
• 1:17
  are
• 1:17
  willing
• 1:18
  to
• 1:18
  change
• 1:18
  Behavior,
• 1:19
  budget,
• 1:20
  and
• 1:20
  workflows
• 1:20
  to
• 1:21
  solve.
• 1:21
  So
• 1:21
  the
• 1:21
  action
• 1:22
  I
• 1:22
  want
• 1:22
  you
• 1:22
  to
• 1:22
  do
• 1:23
  here
• 1:23
  is
• 1:23
  to
• 1:23
  ask
• 1:24
  yourself,
• 1:24
  if
• 1:25
  you
• 1:25
  weren't
• 1:25
  the
• 1:26
  inventor,
• 1:26
  would
• 1:27
  you
• 1:27
  still
• 1:27
  build
• 1:28
  this
• 1:28
  product?
• 1:28
  If
• 1:29
  you're
• 1:29
  not
• 1:29
  sure,
• 1:30
  then
• 1:30
  it's
• 1:30
  time
• 1:30
  to
• 1:30
  validate
• 1:31
  the
• 1:31
  market
• 1:32
  a
• 1:32
  bit
• 1:32
  further
• 1:32
  before
• 1:33
  investing
• 1:33
  any
• 1:34
  more
• 1:34
  time
• 1:34
  or
• 1:35
  any
• 1:35
  more
• 1:35
  money.
• 1:35
  to
• 1:35
  takeaway
• 1:36
  number
• 1:37
  two,
• 1:37
  commercialization
• 1:38
  starts
• 1:39
  on
• 1:39
  day
• 1:40
  one.
• 1:40
  One
• 1:40
  of
• 1:40
  the
• 1:40
  strongest
• 1:41
  messages
• 1:42
  that
• 1:42
  came
• 1:42
  through
• 1:42
  the
• 1:43
  podcast
• 1:43
  was
• 1:44
  that
• 1:44
  too
• 1:44
  many
• 1:44
  founders
• 1:45
  see
• 1:45
  regulatory
• 1:45
  approval
• 1:46
  as
• 1:46
  the
• 1:46
  finish
• 1:47
  line,
• 1:47
  and
• 1:47
  it
• 1:47
  isn't.
• 1:47
  It's
• 1:48
  the
• 1:48
  starting
• 1:48
  line,
• 1:48
  and
• 1:49
  we've
• 1:49
  said
• 1:49
  this
• 1:49
  a
• 1:49
  load
• 1:49
  of
• 1:49
  time
• 1:50
  before,
• 1:50
  and
• 1:50
  you
• 1:50
  know
• 1:51
  it.
• 1:51
  Getting
• 1:51
  regulatory
• 1:52
  approval
• 1:52
  doesn't
• 1:53
  guarantee
• 1:53
  adoption.
• 1:54
  You
• 1:54
  still
• 1:54
  need
• 1:54
  customers.
• 1:55
  You
• 1:55
  still
• 1:55
  need
• 1:55
  a
• 1:55
  route
• 1:56
  to
• 1:56
  market.
• 1:56
  You
• 1:56
  still
• 1:57
  need
• 1:57
  this
• 1:57
  pricing
• 1:57
  strategy,
• 1:58
  and
• 1:58
  you
• 1:58
  need
• 1:59
  a
• 1:59
  commercial
• 1:59
  plan.
• 2:00
  The
• 2:00
  most
• 2:00
  successful
• 2:01
  founders
• 2:02
  think
• 2:02
  about
• 2:02
  all
• 2:03
  of
• 2:03
  those
• 2:03
  things
• 2:04
  from
• 2:04
  the
• 2:04
  very
• 2:04
  beginning,
• 2:05
  not
• 2:05
  after
• 2:06
  regulatory
• 2:06
  approval
• 2:07
  has
• 2:07
  been
• 2:07
  achieved.
• 2:07
  So
• 2:07
  the
• 2:07
  action
• 2:08
  point
• 2:08
  here
• 2:09
  is
• 2:09
  ask
• 2:09
  yourself,
• 2:10
  if
• 2:10
  you
• 2:10
  receive
• 2:11
  regulatory
• 2:12
  approval
• 2:12
  tomorrow,
• 2:13
  what
• 2:13
  would
• 2:14
  happen
• 2:14
  next?
• 2:15
  And
• 2:15
  if
• 2:15
  you
• 2:15
  don't
• 2:15
  have
• 2:16
  a
• 2:16
  clear
• 2:16
  answer,
• 2:16
  then
• 2:17
  it's
• 2:17
  critical
• 2:18
  that
• 2:18
  you
• 2:18
  start
• 2:18
  to
• 2:18
  spend
• 2:19
  as
• 2:19
  much
• 2:19
  time
• 2:20
  on
• 2:20
  your
• 2:20
  commercial
• 2:20
  strategy
• 2:21
  as
• 2:21
  you
• 2:21
  are
• 2:21
  doing
• 2:22
  on
• 2:22
  your
• 2:22
  regulatory
• 2:23
  strategy.
• 2:24
  That
• 2:24
  moves
• 2:24
  us
• 2:24
  on
• 2:24
  to
• 2:24
  takeaway
• 2:25
  number
• 2:25
  three,
• 2:25
  funding
• 2:26
  is
• 2:26
  market
• 2:26
  validation,
• 2:27
  and
• 2:27
  this
• 2:27
  is
• 2:27
  probably
• 2:28
  one
• 2:28
  of
• 2:28
  my
• 2:28
  favorite
• 2:29
  insights
• 2:29
  from
• 2:29
  the
• 2:29
  whole
• 2:30
  of
• 2:30
  the
• 2:30
  conversation,
• 2:31
  cause
• 2:31
  Jordan
• 2:31
  encourages
• 2:32
  founders
• 2:33
  to
• 2:33
  seek
• 2:33
  early
• 2:33
  investment
• 2:34
  from
• 2:34
  clinicians
• 2:35
  in
• 2:35
  the
• 2:35
  specialty
• 2:36
  that
• 2:36
  they're
• 2:36
  trying
• 2:36
  to
• 2:37
  serve.
• 2:37
  Why?
• 2:38
  Because
• 2:38
  if
• 2:38
  the
• 2:39
  people
• 2:39
  who
• 2:39
  eventually
• 2:40
  are
• 2:40
  going
• 2:40
  to
• 2:40
  use
• 2:40
  your
• 2:40
  product
• 2:41
  won't
• 2:41
  invest
• 2:41
  in
• 2:41
  it,
• 2:42
  then
• 2:42
  why
• 2:42
  should
• 2:42
  anyone
• 2:42
  else?
• 2:43
  Funding
• 2:44
  shouldn't
• 2:44
  be,
• 2:45
  and
• 2:45
  isn't
• 2:45
  just
• 2:45
  about
• 2:46
  raising
• 2:46
  capital.
• 2:47
  It
• 2:47
  should
• 2:47
  be
• 2:48
  one
• 2:48
  of
• 2:48
  the
• 2:48
  strongest
• 2:49
  forms
• 2:49
  of
• 2:49
  market
• 2:49
  validation
• 2:50
  that
• 2:50
  you
• 2:50
  can
• 2:51
  get,
• 2:51
  and
• 2:51
  the
• 2:51
  action
• 2:51
  point
• 2:52
  here
• 2:52
  is
• 2:52
  for
• 2:52
  you
• 2:53
  to
• 2:53
  ask
• 2:53
  yourself
• 2:54
  who
• 2:54
  are
• 2:54
  the
• 2:54
  first
• 2:54
  five
• 2:55
  people
• 2:55
  that
• 2:55
  you'd
• 2:56
  ask
• 2:56
  to
• 2:56
  back
• 2:57
  this
• 2:57
  idea?
• 2:57
  And
• 2:57
  more
• 2:58
  importantly,
• 2:58
  would
• 2:59
  they
• 2:59
  actually
• 2:59
  say
• 3:00
  yes?
• 3:00
  Moving
• 3:01
  On
• 3:01
  to
• 3:01
  takeaway
• 3:01
  number
• 3:01
  four,
• 3:02
  leave
• 3:02
  your
• 3:03
  ego
• 3:03
  at
• 3:03
  the
• 3:03
  door.
• 3:04
  There
• 3:04
  was
• 3:04
  something
• 3:04
  that
• 3:04
  Jordan
• 3:05
  said
• 3:05
  that
• 3:05
  really
• 3:06
  resonated
• 3:06
  with
• 3:06
  me,
• 3:07
  and
• 3:07
  that
• 3:07
  was
• 3:07
  that
• 3:07
  the
• 3:08
  best
• 3:08
  founders
• 3:08
  are
• 3:09
  coachable.
• 3:09
  They
• 3:09
  seek
• 3:10
  People
• 3:11
  who
• 3:11
  challenge
• 3:11
  their
• 3:12
  thinking,
• 3:12
  and
• 3:12
  they
• 3:12
  don't
• 3:13
  surround
• 3:13
  themselves
• 3:14
  with
• 3:14
  people
• 3:14
  who
• 3:14
  just
• 3:14
  tell
• 3:15
  them
• 3:15
  what
• 3:15
  they
• 3:15
  want
• 3:15
  to
• 3:15
  hear.
• 3:16
  You
• 3:16
  know,
• 3:16
  yes
• 3:16
  men
• 3:16
  is
• 3:17
  I
• 3:17
  think
• 3:17
  the
• 3:17
  normal
• 3:18
  term
• 3:18
  that
• 3:18
  we
• 3:18
  talk
• 3:18
  about.
• 3:19
  What
• 3:19
  the
• 3:19
  best
• 3:19
  founders
• 3:20
  do
• 3:20
  is
• 3:20
  they
• 3:21
  surround
• 3:21
  themselves
• 3:21
  with
• 3:22
  people
• 3:22
  who
• 3:22
  are
• 3:22
  willing
• 3:22
  to
• 3:22
  tell
• 3:23
  them
• 3:23
  when
• 3:23
  they're
• 3:24
  wrong,
• 3:24
  because
• 3:24
  that's
• 3:25
  how
• 3:25
  better
• 3:25
  products
• 3:26
  get
• 3:26
  built.
• 3:26
  You
• 3:26
  should
• 3:26
  be
• 3:26
  agnostic
• 3:27
  about
• 3:28
  the
• 3:28
  ideas,
• 3:28
  as
• 3:28
  we
• 3:28
  said
• 3:29
  in,
• 3:29
  in
• 3:29
  the
• 3:29
  podcast.
• 3:30
  You
• 3:30
  just
• 3:31
  need
• 3:31
  to
• 3:31
  get
• 3:31
  to
• 3:31
  the
• 3:32
  right
• 3:32
  ideas.
• 3:32
  So
• 3:33
  the
• 3:33
  action
• 3:33
  point
• 3:34
  here
• 3:34
  is
• 3:34
  ask
• 3:34
  yourself
• 3:35
  who
• 3:35
  regularly
• 3:36
  challenges
• 3:36
  your
• 3:37
  thinking.
• 3:37
  And
• 3:38
  if
• 3:38
  nobody
• 3:38
  comes
• 3:39
  to
• 3:39
  mind,
• 3:39
  you
• 3:39
  probably
• 3:40
  need
• 3:40
  more
• 3:41
  people
• 3:41
  around
• 3:41
  you
• 3:41
  who
• 3:42
  will
• 3:42
  tell
• 3:42
  you
• 3:42
  the
• 3:43
  truth
• 3:43
  and
• 3:43
  not
• 3:43
  just
• 3:43
  agree
• 3:44
  with
• 3:44
  you.
• 3:44
  So
• 3:44
  moving
• 3:44
  on
• 3:45
  to
• 3:45
  the
• 3:45
  fifth
• 3:45
  and
• 3:46
  final
• 3:46
  takeaway,
• 3:47
  and
• 3:47
  that
• 3:47
  was
• 3:47
  keep
• 3:48
  moving
• 3:48
  forward.
• 3:49
  And
• 3:49
  it's
• 3:49
  really
• 3:49
  nice
• 3:49
  'cause
• 3:50
  Jordan
• 3:50
  finished
• 3:51
  with
• 3:51
  a
• 3:51
  message
• 3:51
  that
• 3:51
  applies
• 3:52
  to
• 3:52
  every
• 3:53
  founder,
• 3:53
  and
• 3:54
  that
• 3:54
  was
• 3:54
  that
• 3:54
  most
• 3:54
  med
• 3:55
  tech
• 3:55
  companies
• 3:55
  don't
• 3:55
  fail
• 3:56
  because
• 3:56
  they
• 3:56
  have
• 3:56
  bad
• 3:56
  ideas.
• 3:57
  They
• 3:57
  fail
• 3:57
  because
• 3:58
  they
• 3:58
  stop
• 3:58
  moving.
• 3:59
  They
• 3:59
  get
• 3:59
  stuck.
• 3:59
  They
• 3:59
  start
• 4:00
  waiting
• 4:00
  for
• 4:00
  more
• 4:00
  evidence,
• 4:01
  more
• 4:01
  funding,
• 4:02
  a
• 4:02
  better
• 4:02
  product,
• 4:03
  the
• 4:03
  perfect
• 4:03
  strategy.
• 4:04
  As
• 4:04
  we've
• 4:04
  said
• 4:05
  on
• 4:05
  numerous
• 4:05
  podcasts,
• 4:06
  progress
• 4:07
  beats
• 4:07
  perfection
• 4:08
  every
• 4:08
  single
• 4:08
  time.
• 4:09
  And
• 4:09
  the
• 4:09
  action
• 4:09
  point
• 4:10
  here
• 4:10
  is
• 4:10
  I
• 4:10
  want
• 4:11
  you
• 4:11
  to
• 4:11
  ask
• 4:11
  yourself,
• 4:12
  what's
• 4:12
  the
• 4:12
  best
• 4:13
  decision
• 4:14
  that
• 4:14
  you
• 4:14
  can
• 4:14
  make
• 4:14
  that
• 4:15
  moves
• 4:15
  your
• 4:16
  product
• 4:16
  or
• 4:16
  service
• 4:17
  forward?
• 4:17
  And
• 4:17
  then
• 4:17
  make
• 4:18
  it.
• 4:18
  Don't
• 4:18
  procrastinate,
• 4:19
  just
• 4:19
  make
• 4:19
  it.
• 4:19
  Because
• 4:20
  momentum
• 4:20
  creates
• 4:21
  opportunities,
• 4:22
  standing
• 4:22
  still
• 4:23
  doesn't.
• 4:23
  And
• 4:23
  if
• 4:23
  there's
• 4:24
  one
• 4:24
  thing
• 4:24
  that
• 4:25
  I
• 4:25
  took
• 4:25
  away
• 4:25
  from
• 4:25
  my
• 4:25
  conversation
• 4:26
  with
• 4:26
  Jordan,
• 4:27
  it's
• 4:27
  this,
• 4:27
  successful
• 4:28
  med
• 4:28
  tech
• 4:29
  companies
• 4:29
  don't
• 4:29
  just
• 4:29
  build
• 4:30
  products,
• 4:30
  they
• 4:31
  build
• 4:31
  a
• 4:31
  path
• 4:32
  to
• 4:32
  adoption.
• 4:32
  And
• 4:32
  that
• 4:33
  means
• 4:33
  validating
• 4:34
  your
• 4:34
  assumptions
• 4:34
  early,
• 4:35
  thinking
• 4:35
  commercially
• 4:36
  from
• 4:36
  day
• 4:36
  one,
• 4:36
  being
• 4:37
  willing
• 4:37
  to
• 4:37
  listen,
• 4:38
  being
• 4:38
  willing
• 4:38
  to
• 4:38
  pivot,
• 4:39
  and
• 4:39
  never
• 4:40
  letting
• 4:40
  perfection
• 4:41
  become
• 4:41
  the
• 4:41
  enemy
• 4:42
  of
• 4:42
  progress.
• 4:42
  Because
• 4:43
  at
• 4:43
  the
• 4:43
  end
• 4:43
  of
• 4:43
  the
• 4:44
  day,
• 4:44
  a
• 4:44
  brilliant
• 4:45
  product
• 4:45
  only
• 4:45
  changes
• 4:46
  lives
• 4:46
  if
• 4:46
  somebody
• 4:47
  actually
• 4:47
  adopts
• 4:48
  it
• 4:48
  Hakeem: And
• 4:48
  Hakeem: if
• 4:49
  Hakeem: you're
• 4:49
  Hakeem: building
• 4:50
  Hakeem: a
• 4:50
  Hakeem: MedTech
• 4:50
  Hakeem: business
• 4:51
  Hakeem: and
• 4:51
  Hakeem: you're
• 4:51
  Hakeem: not
• 4:52
  Hakeem: sure
• 4:52
  Hakeem: whether
• 4:52
  Hakeem: your
• 4:52
  Hakeem: next
• 4:53
  Hakeem: move
• 4:53
  Hakeem: should
• 4:53
  Hakeem: be
• 4:53
  Hakeem: around
• 4:53
  Hakeem: evidence,
• 4:54
  Hakeem: market
• 4:54
  Hakeem: access,
• 4:55
  Hakeem: commercialization,
• 4:56
  Hakeem: distributor
• 4:56
  Hakeem: strategy.
• 4:57
  Hakeem: Or
• 4:57
  Hakeem: adoption.
• 4:58
  Hakeem: Do
• 4:58
  Hakeem: not
• 4:59
  Hakeem: guess.
• 4:59
  Hakeem: Book
• 5:00
  Hakeem: a
• 5:00
  Hakeem: healthcare
• 5:00
  Hakeem: export
• 5:01
  Hakeem: accelerator
• 5:01
  Hakeem: diagnostic
• 5:02
  Hakeem: Call
• 5:02
  Hakeem: with
• 5:02
  Hakeem: me.
• 5:03
  Hakeem: Use
• 5:03
  Hakeem: my
• 5:03
  Hakeem: link
• 5:04
  Hakeem: in
• 5:04
  Hakeem: the
• 5:04
  Hakeem: show
• 5:04
  Hakeem: notes.
• 5:05
  Hakeem: And
• 5:05
  Hakeem: in
• 5:05
  Hakeem: that
• 5:05
  Hakeem: session
• 5:06
  Hakeem: I'll
• 5:06
  Hakeem: help
• 5:06
  Hakeem: you
• 5:06
  Hakeem: identify
• 5:07
  Hakeem: the
• 5:07
  Hakeem: specific
• 5:08
  Hakeem: constraints
• 5:09
  Hakeem: blocking
• 5:09
  Hakeem: your
• 5:09
  Hakeem: momentum
• 5:10
  Hakeem: and
• 5:10
  Hakeem: the
• 5:11
  Hakeem: commercial
• 5:11
  Hakeem: move
• 5:12
  Hakeem: most
• 5:12
  Hakeem: likely
• 5:13
  Hakeem: to
• 5:13
  Hakeem: unlock
• 5:13
  Hakeem: your
• 5:13
  Hakeem: progress.
• 5:14
  Hakeem: Thanks
• 5:14
  Hakeem: for
• 5:14
  Hakeem: tuning
• 5:15
  Hakeem: in.
• 5:15
  Hakeem: Until
• 5:16
  Hakeem: next
• 5:16
  Hakeem: time,
• 5:16
  Hakeem: thanks
• 5:17
  Hakeem: for
• 5:17
  Hakeem: listening.
• 5:17
  Hakeem: Keep
• 5:18
  Hakeem: challenging
• 5:18
  Hakeem: your
• 5:18
  Hakeem: assumptions
• 5:19
  Hakeem: and
• 5:19
  Hakeem: keep
• 5:20
  Hakeem: growing.