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Owners of medical device startups who have certain traits may have more success than others. Here is a list of the successful medtech CEO's needed traits.
Startups are not just a risk for investors. They are also a risk for the attorneys and other service providers that choose to work with them. That's because there's no guarantee an early-stage company will be around to pay a law firm for all the work it's done - let alone become a long-term customer.
Hiring smart people for a new company is not enough, says Kim Popovits of Genomic Health. Read more about what she thinks is important when growing a company.
Finding a mentor for your new healthcare business can be important, but the wrong mentor could hurt your business. Read more for tips on identifying a bad mentor.
Lately, there's been a lot of talk about these people we call millennials. Namely, the current generation, Generation Y, those "entitled, narcissists who still live with their parents", according to Keith Wagstaff. From complimentary to derisive, countless writers have deemed it their duty to predict exactly what this generation will add or (as most reports warn) detract from our current society. But the truth is, nothing has been said about the "Me, me, me generation" that hasn't been said about every generation before them.
When considering the optimal number of founders for any new entrepreneurial adventure, the calculus extends well beyond simple formulas seemingly supported by observations of startup cohorts within specific industries. Famous technology twosomes that come to mind include David Packard and William Hewlett of Hewlett-Packard, Steve Jobs and Steve Wozniak of Apple, Paul Allen and Bill Gates of Microsoft, Larry Page and Sergey Brin of Google. In these examples, it is widely observed that these buddy teams complemented each other well in the early formative years of their companies.
Chasing an entrepreneurial dream can be an all-consuming effort. Particularly in those crucial early days of a startup, founders seem to eat, sleep and breathe their businesses. This naturally occurring tunnel vision has a purpose, of course, allowing entrepreneurs to give their business babies the time and attention they need to mature. But this heads-down mode is not without its drawbacks, one of which is neglecting to stay up on current events--particularly the happenings that can impact the entrepreneurs who are inadvertently paying no attention to them.
Just because an applicant has strong qualifications doesn't mean he's the right employee for you. Read more about establishing the right business culture at your healthcare startup.
Building a workforce for a healthcare business can be tough for entrepreneurs on a tight budget. Read about creating an internship program in a small business.
The title of founder should be given to one person in a startup if possible, or to multiple people with equal equity in the company, says entrepreneur Jay Adelson.
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