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#172 | 5 Costly Mistakes Clinicians Make That Lose You Time And Money When Selecting an International Market for Your Medtech Product (And How To Avoid Them) · Clinician to CEO : Export Your Medical Device With Confidence By Overcoming Go To Market Roadblocks For Medtech Growth

• 0:00
  If
• 0:00
  you
• 0:00
  had
• 0:01
  to
• 0:01
  choose
• 0:02
  one
• 0:02
  export
• 0:03
  market
• 0:03
  today
• 0:04
  with
• 0:04
  only
• 0:04
  14
• 0:05
  months
• 0:05
  of
• 0:05
  runway
• 0:05
  left,
• 0:06
  no
• 0:06
  international
• 0:07
  sales
• 0:07
  team,
• 0:07
  unlimited
• 0:08
  capital.
• 0:09
  Would
• 0:10
  you
• 0:10
  know
• 0:10
  which
• 0:11
  one
• 0:11
  is
• 0:11
  going
• 0:12
  to
• 0:12
  give
• 0:12
  you
• 0:12
  the
• 0:12
  highest
• 0:12
  probability
• 0:13
  of
• 0:13
  success
• 0:14
  and
• 0:14
  revenue,
• 0:14
  or
• 0:15
  would
• 0:15
  you
• 0:15
  just
• 0:16
  default
• 0:16
  to
• 0:16
  the
• 0:16
  biggest
• 0:17
  market?
• 0:18
  Welcome
• 0:18
  to
• 0:19
  Clinician
• 0:19
  to
• 0:19
  CEO,
• 0:20
  the
• 0:20
  podcast
• 0:21
  helping
• 0:22
  clinicians
• 0:22
  simplify
• 0:23
  your
• 0:23
  go-to-market
• 0:24
  strategy
• 0:24
  so
• 0:24
  that
• 0:25
  you
• 0:25
  can
• 0:25
  stop
• 0:25
  guessing
• 0:26
  and
• 0:26
  turn
• 0:27
  your
• 0:27
  working
• 0:27
  prototypes
• 0:28
  into
• 0:28
  international
• 0:29
  MedTech
• 0:29
  businesses.
• 0:30
  I'm
• 0:31
  your
• 0:31
  host,
• 0:31
  Hakeem
• 0:31
  Aade.
• 0:32
  Let's
• 0:33
  get
• 0:33
  started.
• 0:34
  If
• 0:34
  you
• 0:34
  recall
• 0:35
  in
• 0:35
  the
• 0:35
  last
• 0:36
  episode,
• 0:36
  we
• 0:37
  built
• 0:37
  your
• 0:38
  export
• 0:38
  business
• 0:38
  plan
• 0:39
  using
• 0:39
  the
• 0:39
  healthcare
• 0:40
  export
• 0:40
  accelerator
• 0:41
  business
• 0:41
  plan
• 0:41
  structure,
• 0:42
  and
• 0:43
  you
• 0:43
  will
• 0:43
  have
• 0:43
  defined
• 0:44
  your
• 0:44
  vision
• 0:45
  market
• 0:46
  prioritization,
• 0:47
  commercial
• 0:48
  readiness,
• 0:49
  partner
• 0:49
  strategy,
• 0:50
  and
• 0:50
  your
• 0:51
  180
• 0:52
  day
• 0:52
  reality
• 0:52
  check.
• 0:53
  And
• 0:53
  at
• 0:53
  the
• 0:53
  end
• 0:53
  of
• 0:54
  that
• 0:54
  episode,
• 0:54
  I
• 0:55
  gave
• 0:55
  you
• 0:55
  the
• 0:55
  following
• 0:56
  scenario.
• 0:57
  You're
• 0:57
  a
• 0:57
  company
• 0:58
  that
• 0:58
  had
• 0:58
  a
• 0:58
  product
• 0:59
  with
• 1:00
  a
• 1:00
  CE
• 1:00
  mark.
• 1:01
  You
• 1:01
  had
• 1:01
  a
• 1:01
  small
• 1:02
  but
• 1:02
  solid
• 1:03
  UK
• 1:03
  pilot.
• 1:04
  You
• 1:04
  had
• 1:04
  limited
• 1:04
  cash
• 1:05
  runway.
• 1:05
  I
• 1:06
  you
• 1:06
  had
• 1:06
  14
• 1:06
  months
• 1:07
  left
• 1:07
  to
• 1:08
  make
• 1:08
  a
• 1:08
  success,
• 1:09
  and
• 1:09
  then
• 1:09
  you
• 1:09
  had
• 1:09
  no
• 1:10
  dedicated
• 1:11
  international
• 1:12
  sales
• 1:12
  team.
• 1:13
  And
• 1:14
  your
• 1:14
  market
• 1:15
  prioritization
• 1:16
  scoring
• 1:16
  exercise
• 1:17
  gave
• 1:17
  you
• 1:17
  free
• 1:18
  possible
• 1:18
  priority
• 1:19
  markets
• 1:20
  market
• 1:20
  a.
• 1:21
  It's
• 1:21
  A
• 1:21
  large
• 1:21
  market
• 1:22
  with
• 1:22
  high
• 1:23
  revenue
• 1:23
  feeling
• 1:24
  and
• 1:24
  high
• 1:24
  potential.
• 1:25
  Complex
• 1:26
  reimbursement,
• 1:27
  however
• 1:27
  long
• 1:28
  regulatory
• 1:28
  timelines
• 1:29
  get
• 1:29
  into
• 1:29
  there,
• 1:29
  and
• 1:29
  strong
• 1:30
  incumbent,
• 1:31
  competitors
• 1:32
  in
• 1:33
  that
• 1:33
  market.
• 1:34
  And
• 1:34
  then
• 1:34
  you
• 1:34
  had
• 1:34
  market
• 1:35
  B,
• 1:35
  so
• 1:36
  midsize
• 1:36
  market,
• 1:37
  moderate
• 1:37
  regulatory
• 1:38
  complexity,
• 1:39
  there's
• 1:39
  a
• 1:39
  clear
• 1:40
  clinical
• 1:40
  need
• 1:40
  in
• 1:40
  that
• 1:40
  market,
• 1:41
  and
• 1:41
  one
• 1:41
  motivated
• 1:42
  distributor
• 1:43
  with
• 1:43
  an
• 1:44
  aligned
• 1:44
  portfolio,
• 1:45
  and
• 1:45
  then
• 1:46
  market
• 1:46
  C.
• 1:47
  It's
• 1:47
  a
• 1:47
  smaller
• 1:47
  market,
• 1:48
  very
• 1:49
  fast
• 1:49
  regulatory
• 1:49
  pathway,
• 1:50
  weak
• 1:51
  reimbursement
• 1:51
  structure,
• 1:52
  and
• 1:52
  the
• 1:52
  distributor
• 1:53
  wants
• 1:54
  exclusivity
• 1:55
  immediately.
• 1:56
  Now.
• 1:57
  You
• 1:57
  can
• 1:58
  only
• 1:58
  execute
• 1:59
  properly
• 2:00
  into
• 2:00
  one
• 2:01
  market
• 2:02
  in
• 2:02
  the
• 2:02
  next
• 2:02
  12
• 2:02
  months,
• 2:03
  only
• 2:03
  one.
• 2:04
  So
• 2:04
  the
• 2:04
  question
• 2:04
  was,
• 2:05
  which
• 2:05
  do
• 2:05
  you
• 2:05
  choose?
• 2:06
  And
• 2:06
  if
• 2:06
  your
• 2:07
  business
• 2:07
  plan
• 2:07
  is
• 2:07
  effective,
• 2:08
  it
• 2:08
  should
• 2:08
  eliminate
• 2:09
  two
• 2:09
  options
• 2:10
  and
• 2:10
  leave
• 2:10
  you
• 2:10
  with
• 2:10
  one
• 2:11
  candidate.
• 2:12
  Now
• 2:12
  let's
• 2:12
  see
• 2:13
  if
• 2:13
  it
• 2:13
  does,
• 2:13
  'cause
• 2:13
  I
• 2:14
  want
• 2:14
  to
• 2:14
  break
• 2:14
  it
• 2:14
  down
• 2:15
  properly
• 2:15
  in
• 2:15
  this
• 2:16
  episode.
• 2:16
  So
• 2:16
  remember
• 2:17
  we
• 2:17
  start
• 2:17
  with
• 2:17
  vision.
• 2:18
  So
• 2:18
  the
• 2:18
  vision.
• 2:19
  Should
• 2:20
  answer
• 2:20
  one
• 2:21
  uncomfortable
• 2:21
  question.
• 2:22
  What
• 2:22
  type
• 2:23
  of
• 2:23
  company
• 2:24
  are
• 2:24
  you
• 2:24
  building
• 2:25
  over
• 2:25
  the
• 2:25
  next
• 2:25
  three
• 2:26
  to
• 2:26
  five
• 2:26
  years?
• 2:27
  Not
• 2:27
  what
• 2:27
  can
• 2:28
  you
• 2:28
  afford
• 2:28
  to
• 2:28
  do
• 2:28
  today?
• 2:29
  But
• 2:30
  where
• 2:30
  are
• 2:30
  you
• 2:30
  actually
• 2:31
  going?
• 2:31
  So
• 2:32
  if
• 2:32
  your
• 2:32
  direction
• 2:33
  is
• 2:34
  to
• 2:34
  become
• 2:34
  a
• 2:34
  serious
• 2:35
  international
• 2:35
  category
• 2:36
  player,
• 2:36
  then
• 2:36
  a
• 2:37
  high
• 2:37
  ceiling
• 2:37
  market
• 2:38
  like
• 2:38
  market
• 2:38
  a
• 2:39
  may
• 2:39
  absolutely
• 2:40
  sit
• 2:40
  in
• 2:40
  that
• 2:40
  future.
• 2:41
  But
• 2:41
  vision
• 2:42
  is
• 2:42
  destination.
• 2:44
  Sequencing
• 2:45
  is
• 2:45
  order
• 2:46
  now.
• 2:46
  So
• 2:47
  therefore,
• 2:47
  bring
• 2:48
  in
• 2:48
  your
• 2:49
  reality.
• 2:49
  When
• 2:49
  you're
• 2:50
  looking
• 2:50
  at
• 2:50
  that
• 2:50
  vision
• 2:51
  piece
• 2:51
  and
• 2:51
  where
• 2:52
  you
• 2:52
  try
• 2:52
  to
• 2:52
  get
• 2:52
  to.
• 2:53
  You've
• 2:53
  got
• 2:53
  14
• 2:53
  month
• 2:54
  runway,
• 2:54
  you've
• 2:54
  got
• 2:55
  no
• 2:55
  international
• 2:55
  infrastructure,
• 2:56
  and
• 2:57
  you
• 2:57
  are
• 2:57
  in
• 2:57
  the
• 2:58
  early
• 2:58
  proof
• 2:58
  stage.
• 2:59
  So
• 2:59
  therefore
• 3:00
  the
• 3:00
  real
• 3:00
  question
• 3:00
  becomes
• 3:01
  when
• 3:01
  we're
• 3:01
  looking
• 3:01
  at
• 3:01
  vision
• 3:02
  is
• 3:02
  does
• 3:02
  entering
• 3:03
  market
• 3:03
  a
• 3:04
  first
• 3:05
  accelerate
• 3:05
  your
• 3:05
  direction
• 3:06
  or
• 3:07
  does
• 3:07
  it
• 3:07
  delay
• 3:07
  it?
• 3:08
  Because
• 3:08
  market
• 3:08
  A
• 3:09
  is
• 3:09
  a
• 3:09
  scale
• 3:10
  play,
• 3:10
  so
• 3:11
  that
• 3:11
  fits
• 3:11
  into
• 3:11
  the
• 3:11
  vision
• 3:12
  of
• 3:12
  actually
• 3:12
  becoming
• 3:13
  a
• 3:13
  category
• 3:13
  leader.
• 3:14
  Market
• 3:14
  C
• 3:15
  is
• 3:15
  opportunistic
• 3:16
  speed,
• 3:17
  and
• 3:17
  market
• 3:18
  B
• 3:18
  is
• 3:19
  structured,
• 3:20
  hopefully
• 3:20
  repeatable
• 3:21
  growth.
• 3:21
  So
• 3:21
  if
• 3:22
  your
• 3:22
  long-term
• 3:22
  direction
• 3:23
  is
• 3:23
  scale.
• 3:24
  You
• 3:24
  still
• 3:24
  need
• 3:25
  proof
• 3:25
  of
• 3:25
  repeatability
• 3:26
  before
• 3:27
  you
• 3:27
  can
• 3:27
  earn
• 3:27
  the
• 3:28
  right
• 3:28
  to
• 3:28
  play
• 3:28
  at
• 3:29
  that
• 3:29
  level.
• 3:29
  So
• 3:30
  here,
• 3:31
  I
• 3:31
  would
• 3:31
  say
• 3:31
  choosing
• 3:32
  market
• 3:32
  B
• 3:33
  first
• 3:34
  doesn't
• 3:34
  shrink
• 3:34
  ambition.
• 3:35
  It
• 3:35
  actually
• 3:36
  funds
• 3:36
  it
• 3:36
  and
• 3:36
  the
• 3:36
  vision
• 3:37
  doesn't
• 3:38
  eliminate
• 3:38
  a
• 3:38
  forever,
• 3:39
  but.
• 3:40
  I
• 3:40
  would
• 3:41
  suggest
• 3:41
  it
• 3:41
  eliminates
• 3:42
  a
• 3:42
  as
• 3:42
  your
• 3:43
  first
• 3:43
  move.
• 3:44
  So
• 3:44
  here,
• 3:45
  the
• 3:45
  winner
• 3:46
  would
• 3:46
  B,
• 3:47
  in
• 3:47
  my
• 3:47
  own
• 3:47
  opinion,
• 3:48
  the
• 3:49
  market.
• 3:49
  B.
• 3:50
  So
• 3:51
  we
• 3:51
  move
• 3:51
  on
• 3:51
  to
• 3:52
  step
• 3:52
  two,
• 3:52
  market
• 3:52
  prioritization.
• 3:53
  Now,
• 3:54
  market
• 3:54
  prioritization
• 3:55
  is
• 3:55
  not
• 3:55
  just
• 3:55
  about
• 3:56
  how
• 3:56
  big
• 3:56
  is
• 3:56
  the
• 3:56
  market,
• 3:57
  your
• 3:57
  total,
• 3:58
  addressable
• 3:59
  market,
• 3:59
  how
• 3:59
  much
• 3:59
  can
• 4:00
  money
• 4:00
  can
• 4:00
  you
• 4:00
  extract
• 4:00
  from
• 4:00
  the
• 4:01
  market?
• 4:01
  It
• 4:01
  also
• 4:02
  has
• 4:02
  to
• 4:02
  take
• 4:02
  in
• 4:03
  the
• 4:03
  probability
• 4:05
  that
• 4:05
  you'll
• 4:05
  be
• 4:05
  successful
• 4:06
  in
• 4:06
  that
• 4:06
  market,
• 4:06
  and
• 4:06
  that's
• 4:07
  weighted
• 4:07
  by
• 4:07
  friction.
• 4:08
  So
• 4:08
  if
• 4:08
  you
• 4:08
  look
• 4:08
  at
• 4:08
  market
• 4:09
  a
• 4:09
  whilst
• 4:10
  there
• 4:10
  is
• 4:10
  a
• 4:10
  high
• 4:10
  ceiling,
• 4:11
  there's
• 4:12
  also
• 4:12
  high
• 4:12
  friction
• 4:13
  because
• 4:13
  you've
• 4:14
  got
• 4:14
  complex
• 4:14
  reimbursement
• 4:15
  And
• 4:16
  you've
• 4:16
  also
• 4:16
  got
• 4:16
  a
• 4:16
  long
• 4:17
  regulatory
• 4:18
  timeline.
• 4:19
  And
• 4:19
  in
• 4:20
  addition
• 4:20
  to
• 4:20
  that,
• 4:20
  you've
• 4:20
  got
• 4:20
  strong
• 4:21
  incumbents
• 4:21
  in
• 4:22
  the
• 4:22
  market
• 4:22
  already.
• 4:22
  So
• 4:22
  you've
• 4:23
  got
• 4:23
  high
• 4:23
  level
• 4:23
  of
• 4:23
  competition
• 4:24
  market
• 4:25
  C,
• 4:25
  low
• 4:26
  regulatory
• 4:26
  friction,
• 4:27
  but
• 4:27
  wheat
• 4:27
  reimbursement
• 4:29
  and
• 4:29
  early
• 4:29
  exclusivity
• 4:30
  pressure
• 4:31
  from
• 4:31
  the
• 4:31
  distributor.
• 4:32
  And
• 4:32
  I'll
• 4:32
  talk
• 4:33
  about
• 4:33
  that
• 4:33
  a
• 4:33
  bit
• 4:33
  later.
• 4:34
  And
• 4:34
  then
• 4:34
  market
• 4:35
  B,
• 4:35
  you've
• 4:35
  got
• 4:36
  moderate
• 4:36
  friction.
• 4:37
  There's
• 4:37
  a
• 4:37
  clear
• 4:38
  clinical
• 4:38
  need,
• 4:39
  and
• 4:39
  you've
• 4:39
  got
• 4:39
  structural
• 4:40
  alignment
• 4:41
  with
• 4:41
  your
• 4:42
  distributor.
• 4:43
  So
• 4:43
  the
• 4:43
  one
• 4:43
  question
• 4:44
  that
• 4:44
  I
• 4:44
  want
• 4:45
  you
• 4:45
  to
• 4:45
  ask
• 4:45
  yourself
• 4:46
  is,
• 4:46
  which
• 4:47
  markets.
• 4:48
  Will
• 4:48
  give
• 4:48
  you
• 4:48
  the
• 4:48
  highest
• 4:49
  probability
• 4:50
  of
• 4:50
  meaningful
• 4:51
  traction
• 4:52
  within
• 4:52
  the
• 4:53
  next
• 4:53
  12
• 4:54
  months.
• 4:54
  Not
• 4:54
  the
• 4:54
  theoretical
• 4:55
  side
• 4:56
  of
• 4:56
  the
• 4:56
  market,
• 4:56
  but
• 4:57
  actual
• 4:57
  traction
• 4:58
  because
• 4:58
  market
• 4:59
  A
• 4:59
  has
• 4:59
  the
• 5:00
  highest
• 5:00
  ceiling,
• 5:00
  but
• 5:01
  the
• 5:01
  lowest
• 5:01
  probability
• 5:02
  inside
• 5:02
  your
• 5:03
  current
• 5:03
  constraint.
• 5:04
  Market
• 5:04
  C
• 5:05
  has
• 5:05
  a
• 5:05
  moderate
• 5:06
  probability
• 5:06
  of.
• 5:07
  But
• 5:07
  lower
• 5:08
  long-term
• 5:08
  potential.
• 5:09
  And
• 5:09
  market
• 5:10
  B,
• 5:10
  however,
• 5:11
  offers
• 5:12
  balanced
• 5:13
  potential
• 5:13
  with
• 5:14
  materially
• 5:14
  higher
• 5:15
  probability
• 5:16
  of
• 5:16
  traction.
• 5:16
  So
• 5:17
  if
• 5:17
  your
• 5:17
  prioritization
• 5:18
  is
• 5:18
  disciplined,
• 5:19
  B
• 5:19
  obviously
• 5:20
  leads
• 5:21
  again
• 5:21
  in
• 5:21
  this
• 5:22
  situation
• 5:22
  because
• 5:23
  potential
• 5:23
  and
• 5:23
  probability
• 5:24
  are
• 5:24
  your
• 5:24
  guide,
• 5:25
  not
• 5:25
  just
• 5:26
  the
• 5:26
  theoretical
• 5:27
  market
• 5:27
  side.
• 5:28
  So
• 5:28
  if
• 5:28
  you
• 5:28
  then
• 5:28
  look
• 5:29
  at
• 5:29
  step
• 5:29
  three
• 5:29
  commercial
• 5:30
  redness,
• 5:30
  then
• 5:31
  if
• 5:31
  we're
• 5:31
  looking
• 5:31
  at
• 5:32
  the
• 5:32
  reality
• 5:32
  of
• 5:32
  the
• 5:32
  situation
• 5:33
  as
• 5:33
  the
• 5:33
  company
• 5:34
  in
• 5:34
  the
• 5:34
  scenario,
• 5:35
  we
• 5:35
  have
• 5:35
  no
• 5:36
  reimbursement
• 5:36
  specialists.
• 5:37
  We
• 5:37
  have
• 5:37
  no
• 5:38
  international
• 5:38
  sales
• 5:38
  team,
• 5:39
  and
• 5:39
  we
• 5:39
  have
• 5:39
  limited
• 5:40
  capital
• 5:41
  market.
• 5:41
  A
• 5:42
  demands
• 5:42
  heavy
• 5:43
  regulatory
• 5:43
  and
• 5:43
  reimbursement
• 5:44
  navigation
• 5:45
  at
• 5:45
  Market
• 5:46
  C.
• 5:46
  Demand
• 5:47
  strong
• 5:47
  commercial
• 5:47
  defense
• 5:48
  due
• 5:48
  to
• 5:48
  weak
• 5:49
  reimbursement
• 5:49
  logic
• 5:50
  market.
• 5:51
  B,
• 5:51
  demand
• 5:51
  structured
• 5:52
  but
• 5:52
  manageable
• 5:53
  execution.
• 5:54
  So
• 5:55
  which
• 5:55
  market
• 5:56
  matches
• 5:57
  your
• 5:57
  current
• 5:57
  muscle
• 5:58
  and
• 5:58
  your
• 5:58
  current
• 5:58
  situation.
• 5:59
  A
• 5:59
  is
• 5:59
  gonna
• 5:59
  stretch
• 6:00
  you.
• 6:00
  C
• 6:01
  is
• 6:01
  probably
• 6:01
  gonna
• 6:01
  expose
• 6:02
  what
• 6:03
  you
• 6:03
  don't
• 6:03
  have,
• 6:04
  and
• 6:04
  B,
• 6:05
  at
• 6:05
  the
• 6:05
  moment
• 6:05
  fits
• 6:06
  exactly
• 6:07
  where
• 6:07
  you
• 6:07
  are.
• 6:08
  So
• 6:08
  your
• 6:08
  strategy
• 6:09
  has
• 6:09
  to
• 6:10
  match
• 6:10
  your
• 6:11
  capability
• 6:12
  and
• 6:12
  not
• 6:12
  just
• 6:13
  your
• 6:13
  aspiration.
• 6:13
  So
• 6:14
  again,
• 6:14
  here
• 6:15
  be
• 6:15
  wins.
• 6:16
  Moving
• 6:16
  on
• 6:16
  to
• 6:16
  step
• 6:17
  four
• 6:17
  partner
• 6:18
  strategy.
• 6:18
  We've
• 6:19
  gotta
• 6:19
  already
• 6:19
  look
• 6:19
  at
• 6:19
  what
• 6:20
  leverage
• 6:20
  can
• 6:20
  we
• 6:20
  get
• 6:20
  out
• 6:21
  of
• 6:21
  our
• 6:21
  partners
• 6:22
  and
• 6:22
  what
• 6:22
  leverage
• 6:22
  do
• 6:22
  we
• 6:23
  have
• 6:23
  with
• 6:23
  our
• 6:23
  partners.
• 6:24
  Now
• 6:24
  market
• 6:24
  sees
• 6:25
  distributors
• 6:25
  want
• 6:26
  exclusivity
• 6:27
  immediately,
• 6:28
  and
• 6:28
  that's
• 6:29
  to
• 6:29
  me
• 6:29
  a
• 6:29
  real
• 6:29
  red
• 6:30
  flag.
• 6:30
  'cause
• 6:30
  that's
• 6:30
  like
• 6:30
  giving
• 6:31
  someone
• 6:31
  a
• 6:31
  gold
• 6:31
  medal.
• 6:32
  Before
• 6:32
  they've
• 6:32
  even
• 6:33
  started
• 6:33
  running
• 6:33
  the
• 6:33
  race
• 6:34
  market
• 6:35
  A
• 6:35
  has
• 6:35
  some
• 6:35
  strong
• 6:36
  incumbents
• 6:36
  and
• 6:37
  in
• 6:37
  markets
• 6:37
  with
• 6:37
  entrenched
• 6:38
  players,
• 6:39
  distributor
• 6:39
  attention
• 6:40
  is
• 6:40
  often
• 6:40
  already
• 6:40
  committed.
• 6:41
  So
• 6:42
  the
• 6:42
  risk
• 6:43
  in
• 6:43
  this
• 6:44
  situation
• 6:44
  isn't
• 6:45
  access,
• 6:46
  it's
• 6:46
  priority
• 6:47
  IE
• 6:48
  can
• 6:48
  you
• 6:49
  get
• 6:49
  your
• 6:49
  products
• 6:49
  or
• 6:49
  the
• 6:50
  food
• 6:50
  chain
• 6:51
  in
• 6:51
  the
• 6:51
  distributor's
• 6:52
  portfolio
• 6:53
  in
• 6:53
  this
• 6:54
  market,
• 6:54
  we
• 6:54
  don't
• 6:54
  know
• 6:55
  to
• 6:55
  be
• 6:55
  fair,
• 6:56
  but
• 6:56
  Market
• 6:57
  B
• 6:57
  offers
• 6:57
  a
• 6:57
  motivated,
• 6:59
  portfolio
• 6:59
  aligned
• 7:00
  partner.
• 7:01
  So
• 7:01
  the
• 7:01
  question
• 7:02
  for
• 7:02
  you
• 7:02
  here
• 7:03
  is,
• 7:03
  where
• 7:04
  do
• 7:04
  you
• 7:04
  have
• 7:05
  the
• 7:05
  healthiest
• 7:05
  power?
• 7:06
  Balance?
• 7:06
  So,
• 7:07
  A,
• 7:07
  you're
• 7:08
  likely
• 7:08
  to
• 7:08
  be
• 7:08
  a
• 7:08
  small
• 7:09
  player
• 7:09
  in
• 7:09
  a
• 7:09
  big
• 7:09
  pond.
• 7:10
  B,
• 7:10
  you
• 7:11
  are
• 7:11
  definitely
• 7:11
  strategically
• 7:13
  relevant
• 7:14
  and
• 7:14
  in
• 7:14
  C's
• 7:14
  case,
• 7:15
  you're
• 7:15
  gonna
• 7:15
  surrender
• 7:17
  all
• 7:17
  of
• 7:17
  your
• 7:17
  leverage
• 7:18
  early.
• 7:18
  I
• 7:18
  given
• 7:18
  them
• 7:19
  exclusivity
• 7:19
  if
• 7:20
  you
• 7:20
  to
• 7:20
  agree
• 7:20
  to
• 7:20
  that.
• 7:20
  So
• 7:21
  partner
• 7:21
  strategy
• 7:22
  would
• 7:22
  eliminate
• 7:22
  C
• 7:23
  if
• 7:23
  your
• 7:24
  discipline,
• 7:24
  and
• 7:25
  again,
• 7:25
  it
• 7:25
  lends
• 7:26
  itself
• 7:26
  to
• 7:27
  B.
• 7:27
  And
• 7:27
  then
• 7:27
  moving
• 7:28
  on
• 7:28
  to
• 7:28
  the
• 7:28
  final
• 7:28
  step,
• 7:29
  step
• 7:29
  five,
• 7:29
  the
• 7:29
  180
• 7:30
  day
• 7:31
  reality
• 7:31
  check.
• 7:32
  So
• 7:32
  what
• 7:32
  we
• 7:32
  wanna
• 7:33
  do
• 7:33
  here
• 7:33
  is
• 7:33
  remove
• 7:34
  theory.
• 7:35
  Six
• 7:35
  months
• 7:35
  from
• 7:36
  now,
• 7:36
  what
• 7:37
  has
• 7:37
  to
• 7:38
  be
• 7:38
  true?
• 7:38
  Well,
• 7:39
  you
• 7:39
  need
• 7:40
  to
• 7:40
  have
• 7:40
  regulatory
• 7:42
  clarity.
• 7:43
  You
• 7:43
  need
• 7:43
  to
• 7:43
  have
• 7:44
  distributor
• 7:44
  onboarding
• 7:45
  and
• 7:46
  hospital
• 7:46
  conversations
• 7:47
  and
• 7:48
  pipeline
• 7:49
  visibility.
• 7:50
  So
• 7:50
  in
• 7:50
  market
• 7:50
  A,
• 7:51
  the
• 7:51
  first
• 7:51
  question
• 7:51
  is,
• 7:52
  are
• 7:52
  you
• 7:52
  likely
• 7:52
  to
• 7:52
  have
• 7:52
  got
• 7:53
  free
• 7:53
  regulatory
• 7:53
  complexity
• 7:54
  inside
• 7:55
  the
• 7:55
  first
• 7:55
  six
• 7:55
  months?
• 7:56
  Probably
• 7:56
  unlikely.
• 7:57
  And
• 7:58
  then
• 7:58
  in
• 7:58
  market
• 7:58
  C,
• 7:58
  you
• 7:58
  may
• 7:59
  well
• 7:59
  clear
• 7:59
  regulation
• 8:00
  quickly,
• 8:01
  but
• 8:01
  will
• 8:02
  reimbursement
• 8:03
  stall
• 8:03
  adoption?
• 8:04
  Very
• 8:05
  possibly.
• 8:05
  And
• 8:06
  then
• 8:06
  in
• 8:06
  market
• 8:06
  B,
• 8:07
  can
• 8:07
  you
• 8:07
  realistically
• 8:08
  be
• 8:09
  in
• 8:09
  hospitals
• 8:09
  building
• 8:10
  traction
• 8:10
  within
• 8:10
  six
• 8:11
  months?
• 8:12
  From
• 8:12
  everything
• 8:12
  we've
• 8:12
  said,
• 8:13
  the
• 8:13
  answer
• 8:13
  is
• 8:13
  probably
• 8:14
  yes.
• 8:14
  So
• 8:15
  B
• 8:15
  passes
• 8:16
  the
• 8:16
  180
• 8:17
  day
• 8:17
  test
• 8:17
  and
• 8:18
  the
• 8:18
  others
• 8:18
  don't.
• 8:18
  So
• 8:19
  who
• 8:19
  wins?
• 8:19
  I
• 8:19
  think
• 8:20
  it's
• 8:20
  pretty
• 8:20
  obvious.
• 8:21
  Market
• 8:21
  B,
• 8:22
  not
• 8:22
  because
• 8:22
  it's
• 8:23
  glamorous
• 8:23
  or
• 8:23
  it's
• 8:23
  because
• 8:23
  it's
• 8:24
  the
• 8:24
  biggest,
• 8:24
  but
• 8:24
  because
• 8:25
  it
• 8:25
  starts
• 8:26
  to
• 8:26
  compound
• 8:26
  when
• 8:26
  you
• 8:27
  go
• 8:27
  through
• 8:27
  those
• 8:27
  five
• 8:28
  checkpoints
• 8:29
  now.
• 8:30
  Let's
• 8:30
  just
• 8:30
  review
• 8:31
  the
• 8:31
  markets
• 8:31
  quickly.
• 8:31
  So
• 8:32
  market
• 8:32
  a
• 8:33
  flatters
• 8:33
  ambition
• 8:34
  because
• 8:34
  it's
• 8:35
  large
• 8:35
  and
• 8:35
  it
• 8:36
  looks
• 8:36
  impressive
• 8:36
  on
• 8:36
  a
• 8:36
  slide,
• 8:37
  but
• 8:37
  it
• 8:37
  ignores
• 8:38
  your
• 8:38
  current
• 8:38
  constraint
• 8:39
  and
• 8:39
  your
• 8:40
  runway
• 8:40
  reality,
• 8:41
  the
• 8:41
  amount
• 8:41
  of
• 8:41
  money
• 8:42
  that
• 8:42
  you
• 8:42
  have.
• 8:42
  Market
• 8:43
  C
• 8:43
  flatter
• 8:44
  speed
• 8:44
  'cause
• 8:44
  it
• 8:44
  can
• 8:45
  get
• 8:45
  in
• 8:45
  there
• 8:45
  quickly.
• 8:46
  It
• 8:46
  promises
• 8:46
  quick
• 8:46
  movement.
• 8:47
  But
• 8:47
  it
• 8:47
  risks,
• 8:48
  fragile
• 8:49
  traction
• 8:49
  without
• 8:50
  real
• 8:50
  durable
• 8:51
  economics.
• 8:52
  'cause
• 8:52
  some
• 8:52
  of
• 8:52
  the
• 8:52
  challenges
• 8:53
  in
• 8:53
  that
• 8:53
  market.
• 8:54
  And
• 8:54
  market
• 8:54
  B
• 8:55
  strengthens
• 8:56
  structure.
• 8:57
  It
• 8:57
  aligns
• 8:57
  with
• 8:57
  your
• 8:58
  capability
• 8:59
  and
• 8:59
  your
• 8:59
  runway,
• 9:00
  and
• 9:00
  it
• 9:00
  increases,
• 9:01
  therefore,
• 9:01
  the
• 9:02
  probability
• 9:03
  of
• 9:03
  sustainable
• 9:04
  traction.
• 9:04
  So
• 9:05
  I'm
• 9:05
  hoping
• 9:06
  that
• 9:06
  you
• 9:06
  chose
• 9:07
  B,
• 9:07
  so
• 9:07
  if
• 9:08
  you
• 9:08
  chose
• 9:08
  a,
• 9:08
  it's
• 9:09
  probably
• 9:09
  for
• 9:09
  investor
• 9:10
  optics.
• 9:11
  And
• 9:11
  if
• 9:11
  you
• 9:11
  chose
• 9:12
  C,
• 9:12
  it's
• 9:12
  probably
• 9:13
  because
• 9:13
  movement
• 9:13
  feels
• 9:14
  productive,
• 9:15
  but
• 9:15
  your
• 9:16
  runway
• 9:16
  has
• 9:17
  to
• 9:17
  be
• 9:17
  final
• 9:17
  strategy.
• 9:18
  'cause
• 9:18
  you've
• 9:18
  gotta
• 9:18
  work
• 9:19
  within
• 9:19
  your
• 9:20
  current
• 9:21
  constraint.
• 9:22
  It
• 9:22
  shouldn't
• 9:22
  be
• 9:22
  driven
• 9:22
  by
• 9:23
  ego.
• 9:23
  It
• 9:23
  should
• 9:23
  definitely
• 9:24
  not
• 9:24
  be
• 9:24
  just
• 9:24
  driven
• 9:25
  by
• 9:25
  geography
• 9:26
  and
• 9:26
  it
• 9:27
  can't
• 9:27
  be
• 9:28
  driven
• 9:28
  by
• 9:29
  distributor
• 9:30
  enthusiasm.
• 9:31
  So.
• 9:32
  In
• 9:32
  closing,
• 9:33
  if
• 9:34
  your
• 9:34
  business
• 9:35
  plan
• 9:35
  doesn't
• 9:36
  eliminate
• 9:36
  two
• 9:36
  options
• 9:37
  clearly,
• 9:38
  then
• 9:38
  it
• 9:38
  obviously
• 9:39
  isn't
• 9:39
  tight
• 9:40
  enough.
• 9:40
  Vision
• 9:41
  will
• 9:42
  help
• 9:42
  you
• 9:42
  narrow
• 9:42
  ambition.
• 9:44
  Market
• 9:44
  prioritization
• 9:45
  removes
• 9:46
  fantasy
• 9:47
  land.
• 9:48
  You're
• 9:48
  gonna
• 9:49
  go
• 9:49
  actually
• 9:49
  as
• 9:50
  a
• 9:50
  friend
• 9:50
  of
• 9:50
  mine
• 9:50
  would
• 9:50
  say,
• 9:51
  you're
• 9:51
  gonna
• 9:51
  fish
• 9:52
  where
• 9:52
  the
• 9:52
  fishes
• 9:52
  are.
• 9:53
  And
• 9:53
  then
• 9:53
  commercial
• 9:54
  redness
• 9:55
  limits
• 9:55
  the
• 9:55
  ego
• 9:56
  and
• 9:56
  just
• 9:56
  tells
• 9:57
  you,
• 9:57
  are
• 9:57
  you
• 9:57
  ready
• 9:58
  to
• 9:58
  go
• 9:58
  to
• 9:58
  this
• 9:58
  market?
• 9:59
  Partner
• 9:59
  strategy
• 10:00
  protects
• 10:01
  your
• 10:01
  leverage
• 10:02
  in
• 10:02
  the
• 10:02
  market
• 10:02
  and
• 10:02
  with
• 10:02
  the
• 10:03
  distributor
• 10:03
  and
• 10:03
  the
• 10:04
  180
• 10:04
  day
• 10:04
  reality
• 10:05
  check
• 10:05
  kills
• 10:05
  any
• 10:05
  delusion
• 10:06
  that
• 10:06
  you
• 10:06
  may
• 10:06
  have
• 10:06
  of
• 10:07
  going
• 10:07
  into
• 10:07
  wrong
• 10:07
  market.
• 10:08
  With
• 10:08
  the
• 10:08
  wrong
• 10:09
  strategy,
• 10:09
  because
• 10:10
  you're
• 10:10
  gonna
• 10:10
  have
• 10:10
  a
• 10:10
  checkpoint
• 10:11
  to
• 10:11
  say,
• 10:11
  these
• 10:11
  are
• 10:11
  the
• 10:11
  things
• 10:12
  that
• 10:12
  we
• 10:12
  need
• 10:12
  to
• 10:12
  have.
• 10:13
  And
• 10:13
  if
• 10:13
  your
• 10:14
  export
• 10:14
  plan
• 10:15
  only
• 10:15
  works
• 10:16
  in
• 10:16
  PowerPoint
• 10:16
  but
• 10:17
  falls
• 10:17
  apart
• 10:17
  on
• 10:18
  the
• 10:18
  commercial
• 10:18
  pressure,
• 10:19
  you
• 10:19
  don't
• 10:19
  have
• 10:20
  a
• 10:20
  strategy.
• 10:20
  At
• 10:21
  the
• 10:21
  very
• 10:21
  best,
• 10:21
  you
• 10:21
  have
• 10:22
  a
• 10:22
  narrative.
• 10:22
  So
• 10:23
  understanding
• 10:24
  where
• 10:24
  your
• 10:24
  export
• 10:25
  structure
• 10:25
  is
• 10:25
  strong
• 10:26
  and
• 10:26
  where
• 10:27
  you
• 10:27
  are
• 10:27
  commercially
• 10:28
  exposed
• 10:28
  is
• 10:28
  the
• 10:28
  key
• 10:29
  to
• 10:29
  bringing
• 10:29
  your
• 10:30
  MedTech
• 10:30
  device
• 10:30
  to
• 10:30
  the
• 10:30
  market
• 10:31
  on
• 10:31
  a
• 10:31
  global
• 10:32
  scale.
• 10:33
  So
• 10:33
  to
• 10:33
  find
• 10:34
  out.
• 10:34
  What
• 10:34
  is
• 10:34
  holding
• 10:35
  you
• 10:35
  back?
• 10:35
  Book
• 10:36
  a
• 10:36
  free
• 10:36
  healthcare
• 10:37
  export
• 10:37
  accelerator
• 10:38
  discovery.
• 10:38
  Call
• 10:38
  with
• 10:38
  me
• 10:39
  now
• 10:39
  via
• 10:39
  the
• 10:40
  link
• 10:40
  in
• 10:40
  the
• 10:40
  show
• 10:41
  notes
• 10:41
  and
• 10:41
  on
• 10:41
  this
• 10:42
  call,
• 10:42
  I
• 10:42
  will
• 10:42
  personally
• 10:43
  audit
• 10:43
  your
• 10:43
  systems
• 10:44
  and
• 10:44
  tell
• 10:44
  you
• 10:45
  the
• 10:45
  exact
• 10:45
  next
• 10:45
  steps
• 10:46
  you
• 10:46
  need
• 10:47
  to
• 10:47
  take
• 10:47
  to
• 10:47
  help
• 10:48
  you
• 10:48
  accelerate
• 10:49
  your
• 10:49
  international
• 10:50
  growth.
• 10:50
  Thank
• 10:51
  for
• 10:51
  listening.
• 10:52
  Keep
• 10:52
  listening
• 10:53
  and
• 10:53
  keep
• 10:53
  growing.