Make the Most of This One Unique Asset All Medtech Leaders Possess

For an industry that produces innovations that are profoundly life changing, on a global scale, medical device leaders are notorious for being profoundly bad at translating the excitement inherent in their inventions to funders (VCs, angels, grants) and media. The following article, first published in my newsletter, Medtech Executive Life, offers some clues as to why this might be so and what's at risk if we don't learn to tell our stories better. 

Check out the story below and read the rest of the newsletter, filled with specially curated news for medtech leaders such as recent fundings, exits, and litigation, on Linkedin. Please feel welcome to subscribe or follow me on Linkedin to receive upcoming editions. 

99% of medical device executives squander their most valuable asset.

It costs them investment funds, partnerships, exits, and all the best C-Suite and Board Director roles.

You would think something so important would be on everyone's radar, but it's not. Perhaps because many medtech professionals have subconsciously bought into the idea that professional conformity is safe, despite the horror that their technology itself might be labeled as a dreaded 'me too' device.

Maybe it's because, by and large, our industry is comprised of STEM individuals who pride themselves on employing logic and reason to demonstrate the merit of a choice, completely ignoring the research that shows only 5-10% of decisions are made rationally.

It could be as simple as lacking the confidence to express any emotion or humanity, fearing that it will undermine the serious nature of our work.

If you're getting an inkling of where I'm going with this (clever you), you've probably already recognized this trend, and its significance, in our industry.

The one precious asset we all have is our unique story that answers the question, 'So what, who cares?'

As a leader, it's your job to bring your technology, your company, and your patient populations to life in the minds of investors and KOLs. This doesn't negate or trump the need for solid IP, sizeable TAM, or a well considered regulatory path and reimbursement strategy - those are all table stakes.

It take all those required elements and combines them into a vivid, moving experience that sticks with the listener long after you're gone.

That's how you win capital raises, partners, acquirers, and industry leaders who are compelled to be part of your exciting story.

I've been lucky enough to witness, and speak with, some medtech leaders who are absolute masters in the art of engagement. Some you've heard of and others are more hidden gems. I've learned from them and you deserve to have that same advantage.

Rather than me writing boring, long lists of how-to's, I'm taking a page from their book and have come up with a way to make it come alive for you in the coming weeks.

Follow me on Linkedin and keep your eyes peeled for medtech mastery in action.

This article is from my Linkedin newsletter, Medtech Executive Life, where I share tips to enhance your industry authority, news to give you a competitive edge. You can subscribe here.