Healthy Entrepreneurship in Medical Devices

Title: Healthy Entrepreneurship in Medical Devices
Date: 2008-02-20
Speaker: Mir Imran (InCube Laboratories)
Link: Entrepreneurial Thought Leaders
 
It starts with a problem. The process starts with analysis of the problem and looking at its attributes. How big is the problem? How is it currently solved?
The more time you spend with a problem the better chance you have coming up with a good solution.
When you’re looking at unique problems look at European literature. Sometimes they’re more open about unique problems.
Evaluate your ideas and kill them because it is much more painful to kill a company or fix a failing company.
Surround yourself with really smart people.
A lot of times companies get into trouble because of people problems.
You can’t find the exact skillset you’re looking for. Find somebody who is really good and then modify the plan on the other people you’re going to hire.
When you find people that are going to be successful you hang on to them.
You need depth in multiple areas.
In medicine there are a lot of problems that are poorly solved or not solved at all.
Don’t fall in love with your ideas. Sometimes the first idea isn’t the right idea.
Be a good listener.
Surround yourself with people who are experienced.
Assess what you’re getting into upfront.
Market size dictates where you have a product or a company.