3.6: The Entrepreneur
Today, we're going to talk about how to be an Entrepreneur while being a physician.
Table of Contents
- Defining Entrepreneurship
- Forbes - George Deeb - Defines it
- Entrepreneurship Is
- It requires > Grit
- The Entrepreneurial Age
- Entrepreneurship in any Industry is Challenging
- Medical Training
- Do not waste time on an MBA
- Better to consider short on-demand online courses
- MicroMasters® Program in Healthcare Administration
- MicroMasters® Program in MBA Core Curriculum
- Stages in Digital Health Entrepreneurship
- Advice To A Medical Student Entrepreneur
- How To Pick A Residency If You Are Interested In Entrepreneurship
- US Cities with most Entrepreneurs
- The 10 Paradoxes of Entrepreneurship
- The role will evolve consistent and constantly
- Find your path with passion, patience and perseverance!
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Mar 1, 2022
"one who organizes, manages and assumes the risk of a business or enterprise" - Merriam-Webster
- A risk taker
- A visionary
- A leader
- A pitbull
- A superhero
- Deeb G. What Is An Entrepreneur? The Ultimate Definition. Forbes [Internet]. 2015 Nov 19 [cited 2022 Jan 24]; Available from: https://www.forbes.com/sites/georgedeeb/2015/11/19/what-is-an-entrepreneur-the-ultimate-definition/?sh=159e24bb7957
- It Hard
- It requires Grit
- (Patience, Perseverance, passion)
- It is a Mind Set
- From problem seeker to problem solver
- Skill set to set of skills
- From security to uncertainty
ONE thing to be Successful Entrepreneur - Grit
Grit is relentless pursuit of your passion with patience
Startup cities in the entrepreneurial age | Dealroom.co
Global venture capital is crushing records in 2021. Over €264bn has been invested in the first six months of the year, two unicorns have been created every day in 2021, 170 cities around the world now home to at least one unicorn, and Europe is the fastest growing region for VC investment.
Healthcare brings its own set of challenges
- Reward not attached to Outcome but reimbursement
- Lack of training of Entrepreneurship
- Lack of multiple skills needed
- Lack of Networking
- Lack of culture of sharing
- Medical Training is increasingly specialized and take longer
Healthcare differs from any other industry where price and demand is dictated by value, quality and performance. Healthcare is driven by reimbursement often set by government regulation
E.g. Telehealth has been around for years the pandemic exploded it because of legislative leniency. In short people started getting paid for there services because of change in policy.
Time to enter workforce is increasingly getting longer
The Personal MBA: Master the Art of Business
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Healthcare Administration MicroMasters® Program
How to use management and leadership frameworks, theories, and case studies to address complex issues for healthcare professionals in healthcare organizations. Evidence-based methods for planning, organizing, leading, and advocating for patients, families and communities in the public health sector.
MBA Core Curriculum MicroMasters® Program
Devise the right marketing strategy for your idea or firm Use the vast information available in the world today to gain insight, create a competitive edge, and avoid being tomorrow's data breach headline Evaluate corporate investment opportunities to drive shareholder value Use the language of business to communicate financial information
Arlen Meyers, MD, MBA - Senior Medical Advisor - RYTE Telemedicine | LinkedIn
I'm a professor emeritus of otolaryngology, dentistry, and engineering at the University of Colorado School of Medicine and the Colorado School of Public Health and President and CEO of the Society of Physician Entrepreneurs at www.sopenet.org . I have created several medical device and digital health companies. Most of them failed.
- Stage 1: Industry and market analysis
- Stage 2: Opportunity identification and assessment
- Stage 3: Crafting a solution and demonstrating technical, commercial and clinical validation and verification
- Stage 4: Deployment
- Stage 5: Dissemination and implantation, promoting the diffusion of innovation across the various customer segments such that it becomes the standard of care
- Stage 6: Marketing and post-market surveillance
- Stage 7: Continuous quality improvement and product development
- Internship with a startup
- Network, network, network (esp LinkedIn)
- Free MOOCs
- Identify yourself as open for Innovation
- Talk to leaders and learn there history in entrepreneurhsip
- "Factor in your entrepreneurial career objectives when it comes time to choose a specialty"
- Be tactful - Not Loud - Make sure
Advice to a medical student entrepreneur
Dear Susan, Congratulations on your recent graduation from college. I'm sure you are thrilled to start medical school in August and are looking forward to taking a break this summer.
Introduction to entrepreneurship for medical students
Innovation and entrepreneurship education and training is gradually appearing as part of medical school curriculum reform intended to graduate 21st Century doctors who can win the 4th industrial revolution. The offerings include workshops, seminars, elective or required courses, certificates and deg
- Innovation ecosystem
- Physician champions and entrepreneurs?
- Access to entrepreneur mentors?
- Intellectual Property
- Seed Funding
- Non-clinical jobs
How to pick a residency if you are interested in entrepreneurship
Applying for and being accepted to a residency after medical school is a complex, important decision. There are several factors to consider including the reputation of the place, the length of residency training for a given specialty,the likelihood you will be accepted, the culture, whether it is a
Entrepreneurs thrive in these 10 U.S. cities -- and 9 aren't Silicon Valley
Soon after graduating from Stanford Business School in 2015, entrepreneur Rachel Carlson decided to base an education startup in Denver, where she grew up. Her California advisers were flabbergasted.
This is a must read!
The 10 Paradoxes of Entrepreneurship - Forte Labs
1. Entrepreneurship is hard because it requires someone with a strong command of reason, who is at the same time thoroughly unreasonable You have to be smart to be an entrepreneur, obviously. Modern businesses are complex, and you have to be able to reason effectively if you're even going to understand how they function.