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Solving problems in healthcare isn’t easy, especially given the complexity of the space and the diversity of the stakeholders. Creating communities of engaged stakeholders around a common problem can be a powerful approach to prototyping, testing, and deploying solutions. That’s because these communities bring together people from multiple disciplines and perspectives.
Design thinking can be helpful to an entrepreneur in all phases of development -- from ideation and business model validation to customer development and growth.
When I talk to life science and digital health entrepreneurs, their motivation to make an impact is clear. But the biggest hurdle they face – once they have a product or tool of value – is to get their innovation into the hands of doctors, patients, and other stakeholders.
The most frequent question I get asked from entrepreneurs is “Where can I find dollars”? Assuming that they have done the work, the best I can do to help is to share the stories of entrepreneurs that have recently succeeded in raising funds in today’s tough environment.
The diverse ecosystem of entrepreneurship is exciting. But it can also be overwhelming, given the many stakeholders an early-stage entrepreneur interacts with during the first few years alone.
Entrepreneurs need to be creative and innovative not only with their product or service, but also with how they think about their business model. In life science and digital health, understanding one's value proposition is key. But it’s not always obvious - especially considering to whom the value proposition is most compelling. For this exercise, I find Alex Osterwalder’s Value Proposition Canvas particularly helpful.
People are the most important asset for any entrepreneur. In fact, more than 65 percent of startups fail due to founding team issues.
Jake Halpert, CEO of Lucidity Health, agrees with the conventional wisdom that the team is the most important aspect of an early-stage business. But, he added, an entrepreneur shouldn't wait for the perfect team to start his company.
When hearing stories of downsizing – or “right-sizing” as is the popular euphemism of the day – one usually considers large manufacturing, construction firms or even big banks. These are the industries that have recently sustained large job losses due to the global economic collapse...
I spent part of my Labor Day Weekend getting current on my required reading. From the pile of magazines that invade my mailbox monthly to a week’s worth of various and sundry newspapers, which I still get in that good old-fashioned printed way (quaint I...
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