Brandywine MedTech Consultancy

Deeds not Words - Commercialization strategy & execution plan for novel soft robotics MedTech innovation. One year post launch, I (with help of Amanda Ernst) refined Brandywine MedTech Consultancy's value proposition based on customer insights - You are an innovative MedTech company with a novel technology preparing for commercialization. We deliver a comprehensive and data-driven commercialization strategy with corresponding tactical playbook. This case study highlights our value proposition in action - how we helped empower a company with an innovative soft robotics technology by delivering a commercialization strategy and “go to market” playbook. If this could help you, feel free to reach out to me today. We have some amazing clients and have added new resources to support more. #medtech #innovation #commercialization #sales #marketing #robotics

Listening to my own advice. As I reach the one year anniversary of starting Brandywine MedTech Consultancy - I wanted to understand our value to customers. So I followed my own advice - "listen to your customers. Then listen some more." With the help of Amanda Ernst we asked Brandywine MedTech Consultancy's customers - What is our real value to you? Here is the value proposition we developed based on customer insights (shoutout to all are amazing clients who provided feedback): You are an innovative MedTech company with a novel technology preparing for commercialization. We deliver a comprehensive and data-driven commercialization strategy with corresponding tactical playbook. If this is a fit with your needs, contact me today!

Pistachio Perfection The Girl Scouts can teach a master classes in marketing about their cookies - branding, the 4 Ps, distribution channels. If I were a cookie marketer, I would want to create a new Girl Scout Cookie - "Pistachio Perfection." Not a chocolate chip cookie with a smattering of pistachios. A pistachio lover's delight. The Death Wish Coffee of pistachio cookies. Why pistachios? Some logical "tailwinds" - pistachio consumption is growing high single digits. The industry invests heavily in marketing. Pistachios are natural & majority grown in the US. In my mind, marketing is emotional, and none of these are my motivations for "Pistachio Perfection." Here are 3 reasons with MedTech corollaries: 1. "Go to where they ain't" - Mark Cuban There are hundreds of chocolate chip cookie brands in the US. How many pistachio cookie brands can you name? Of course Americans eat more chocolate, but not *that much more* - 10 lbs chocolate / person / yr. vs. 0.7 lbs pistachios. MedTech Corollary - Think of new ways to address clinical challenges. And don't be afraid to highlight differentiated innovation. When we launched personalized implants for orthognathic surgery at DPS CMF, we were initially intimidated to emphasize the changes to established techniques. Then we saw that "splintless orthognathic surgery" resonated with Surgeons & pivoted to highlighting the differentiation. 2. Find the 10% Did you know that the "top" 10% of alcohol drinkers in the US consume 70+ drinks / week? Legit public health concerns aside, that presents a tremendous marketing challenge & opportunity - and probably explains the damage caused by Bud Light controversy of 23. My hypothesis - pistachio consumption follows this trend - something like 10% of Americans eat 65% of total pistachios. "Pistachio Perfection" would be for the 10%. MedTech Corollary - Early robotic surgery r&d focused on general & cardiac surgery - but it was Urologists who embraced the DaVinci for radical prostatectomy - a seemingly small market which had transformational future impact. 3. “People do not buy goods & services. They buy relations, stories & magic” - Seth Godin The marketing goal of Pistachio Perfection - create an emotional connection with the pistachio lover - much more than a transactional cookie for a consumer. This creates loyalty, helpful when others see Pistachio Perfection's success & try to piggyback by offering more pistachios or a cheaper cookie. MedTech Corollary - In my early days with Synthes, we would emphasize our implant portfolio had so many size options that Surgeons could fix anyone from a horse-race jockey to an NBA player. This led to Traumatologists reminiscing over fixing Patients in extreme sizes and being thankful an appropriate implant existed. While these cases were few & far between, Synthes being there for the rare case created stories & relationship with the brand. Where's the pistachio in your market? Drop your thoughts below ⬇

Destroy Confirmation Bias - Destroy the MedTech Nightmare I recently watched "American Nightmare" on Netflix - disturbing story & prime example of danger of Confirmation Bias - in which we use evidence to support our pre-conceived opinions & ignore evidence that disputes them. It's human nature. I certainly do it. You probably do too. Many MedTech startups, most with breathtaking innovation, fail. This is the MedTech Nightmare. Confirmation Bias is a root cause of the MedTech Nightmare. Conventional Wisdom - We can blame complex clinical, regulatory & reimbursement challenges for the MedTech Nightmare. Reality (from NIH data) - We can blame launching a product that customers do not want to purchase for the MedTech Nightmare. Uri Levine, founder of Waze, warned us - "Fall in Love with the Problem, not the Solution." Easier said than done. Thousands of hours of blood, sweat & tears into developing amazing innovations. Once people realize how amazing this technology is, it will sell itself - or will it? A few tips to Destroy Confirmation Bias & the MedTech Nightmare: 👂 1. Talk, er Listen, to Customers. Hundreds of them. If we were CPG Entrepreneurs, we would hang out at Wal-Marts, Costcos, Country Clubs, Tractor Pulls, Sushi Bars, Hershey Bears Games - to test our products & find the "product / market fit". Do the same in MedTech. Not just Surgeons and not just Cleveland Clinic. Referring Clinicians, PAs, Residents, Nurses, Techs, Nurse Managers, Purchasing Directors, Service Line Leaders, Payor Medical Directors, Quality Officers . . . a milieu of critical customers in MedTech. All with unique perspectives. All critical. 🛌 2. Sleep On It Daniel Kahneman taught us we have 2 thinking systems - Fast (emotional & instinctive) & Slow (deliberate & logical). The slow system must prevail to destroy confirmation bias. Methodically reflect on customer feedback with a big blank canvas & open mind. 👶 3. Call the Baby Ugly Diversity & psychological safety are critical in startup culture. Different people with different perspectives that feel confident voicing them. We have a tendency to surround ourselves with like-minded people, especially when we want to move fast. Our customers are diverse - our people should be too. If you ask someone about strategy or positioning in an interview, and they say something insightful & completely different than what you wanted to hear - hire that person. "Calling the baby ugly" may be uncomfortable, and will help destroy confirmation bias. Together we can destroy the MedTech Nightmare.

4.9 Rating on Lyft - Credibility is King in Marketing A diehard Lyfter, somewhere around ride 650 my rider rating dropped - 5.0 -> 4.9 (I blame a faulty elevator that stopped at every floor while my driver waited)😢 I recently confided in a Lyft driver. His therapeutic reply - "4.9 is better than 5.0. That way we know you're real . . ." 🤔 I reflected on MedTech marketing. I recently came across a technology that reported 100% of Patients achieved pain reduction. Seemed too good to be true. They may have been better off if results showed 65% of Patients reported statistically-significant pain reduction. 100% sounds like something being hocked on Boardwalk Empire. Credibility is King in MedTech marketing. A few suggestions - using chronic pain as an example: 📊1. Benchmark Data without context - *47% reduction in pain!* - is catchy but not credible. How does the technology compare to standard of care? Don't be afraid to benchmark vs. conservative treatment & even an option that may be more effective (see point #3). 🚫 🍒 2. Don't Cherry Pick I saw another claim - "80% of Patients reported reduction in pain." I checked out the study & the technology missed its endpoint of statistically-significant pain reduction vs. placebo. The company may as well be selling watches out of a trench coat. Clinicians are going to check the studies. ✅ ❄ 3. Match Results to Patient Profile Each Patient is unique regarding disease progression, socioeconomic factors & personal priorities. My Lyft Driver / Therapist may be better suited to a non-invasive pain therapy with less effectiveness than Spinal Fusion which may keep him out of the Lyft for 6 weeks. Think about how the "whole product model" (h/t Crossing the Chasm squad) of your technology may be a good fit for specific Patient type(s). It's ok to be 4.9. We all get caught on faulty elevators :) #medtech #marketing #innovation #crossingthechasm

What's Your O-Ring? 28 years ago - it seems like yesterday. The AV Cart that typically brought us so much joy in elementary school became a symbol of despair. Like most Gen-Xers, I remember vividly January 28, 1986 - the day of the Challenger disaster. Less than 17 years after Apollo 11, Challenger brought the US immense despair & a long look in the mirror - what went wrong? The root cause of the disaster lay in a failed O-Ring, stressed by wear, tear & record cold temps. As an Army Officer, I lived by PACE planning - always have a Primary, Alternate, Contingency & Emergency plan for everything. You cannot plan around a failed O-Ring. The metaphorical O-Ring - something so vital to the function of your organization, that if it fails, the organization fails. As I researched lessons learned from Challenger, a few takeaways for MedTech leadership: 1. Identify the Glass Balls & Rubber Balls I love this parable - if you drop a Glass Ball it shatters. If you drop a Rubber Ball it bounces back. What are the Glass Balls that, if dropped, can cause your organization long-term damage? One area - Compliance. A fictional compilation of stories I've seen over the years - a salesperson makes bad decisions. When asked about why their motivation - "I made P-Club 2 years in a row. Everyone expected me to 3-peat . . ." Another Glass Ball - Quality. Improper documentation & regulators come down hard - "I didn't have budget to complete the documentation . . . I would've had to lay people off . . . so we did the best we could . . ." What can we do as leaders? Incentives & rewards are good. Hyper-focus on results at the expense of Glass Balls is not. Remind your team of Glass Balls when establishing goals & communicating strategy. 2. Be Dynamic with Expectations Record low temperatures were a cause of Challenger's O-Ring failure. There were reports that some had suggested postponing, but the show went on despite unexpected conditions. A takeaway is to be dynamic with expectations & flexible when the unexpected happens. One positive example - MedTech industry's response to COVID. Companies shifted priorities (all hands on deck to support treating COVID Patients) & expectations. With declines in elective surgeries, most companies supported salespeople's income & invested in education to come back stronger. These decisions had potential negative short-term bottom-line impact & certainly long-term positive impact (record MedTech growth in 2023). 3. Hear AND Listen NASA engineers warned of potential impacts from wear & tear on Challenger from several missions. The show went on . . . Most of us have learned to allow everyone a voice. But are we listening to those voices or just allowing people to speak while continuing our pre-determined plan? This has been a challenge for me, and I have focused on slowing down, listening 360, and adjusting course as needed.