|
[This article is also featured on episode 72 of the Business Wingmen Podcast Show]
Successful performance is everything! Our ability to execute at work is something we as professionals need to strive towards every day, yet many of our colleagues seem to have forgotten this time-tested reality of business. As Rory Vaden, bestselling business author and leadership speaker, accurately shares, “success is not owned, it is rented - and that rent is due everyday.”
0 Comments
Our LinkedIn poll concluded with some interesting findings and a fair amount of debate. It's estimated 75% of medical device start-ups fail or never make it to the market. Understanding the primary factors which drive these outcomes makes or breaks the difference in a start-ups success. As our respondents weighed in it was clear the primary factor which gets in the way of a start-up meeting up with success is in fact its own people. 48% of voters identified this as the primary reason for failure, many of which current have or have had in the past direct experience operating in a management role within start-ups.  The debate ragged on within the poll as some people felt like the product (ie technology) played a larger part in the failure of the company as it's ability to meet a core, and perhaps large, clinical need drove a variety of things including funding, market acceptance, etc. In the end the old saying still rings true - the people we surround ourselves with makes all the difference.  Executive Summary: The world of startups and small business can indeed be an exciting place to be. Its commonly characterized as highly collaborative, fast pace, less bureaucratic and wildly innovative. While this sounds great in theory, in practice the world of a startup can be rife with challenge, including heavy amounts of stress and uncertainty. It’s vital we as professionals analyze our personalities and professional behaviors to assess whether or not we would do well in the startup world - before we actually jump in. Knowing what you’re up against before you dive in will allow you to determine if it’s appropriate for you to consider the startup space, small business and or entrepreneurship. Author: Travis Smith Read the full article by downloading the below PDF attachment 
|
About the AuthorTravis Smith is the founder and managing director of Square-1 Engineering, a medical device consulting firm, providing end to end engineering and compliance services. He successfully served the life sciences marketplace in SoCal for over 15 years and has been recognized as a ‘40 Under 40’ honoree by the Greater Irvine Chamber of Commerce as a top leader in Orange County, CA. |
||
RSS Feed
