MedTech + Mindset Newsletter #001

Welcome to the inaugural edition of the MedTech + Mindset Newsletter! 

This week our MedTech topic is about how to amplify growth quickly and efficiently and the Mindset technique is called The Success Cycle.

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1. The Marketing Mix is Worthless if You Need to Grow Fast & Now

Insight from Matt Tucker

Sales lagging?  Interest waning? Here’s a great way to maximize your opportunities for growth. 

This is great for early stage products - because its cost efficient - but you can use it to identify gaps in how you're promoting older products too.

Commercial execs and marketing gurus will ask you about how you're using the 4P's of marketing.  Well, those old 4P's have been expanded to 7!  

When did that happen??? 

The Seven:

1. Product
2. Place
3. Price
4. Promotion
5. People
6. Process
7. Physical Evidence 

But think about this...

How many of those seven (7) can you influence quickly and easily to get more growth...fast?

When you have numbers to hit, the 7Ps are as worthless as the original four. Because you have to sell what's in your bag. 

Instead, consider focusing your attention on....The 4S's.

1. Standard channels (emails, resource portals, websites, etc.) to agitate a need and learn about your customer's interests.
2. Social Media to create an Emotional Connection
3. Scientific Education to create Clear Understanding and Confidence
4. Sales Force Execution for Demand Pull-through and Objection Handling

If you are using only a couple of these you're going to have trouble growing quickly.  These four, working together, surround your customer.

And when your customer is surrounded, you'll WIN business! 

So, a few questions you can ask yourself:

2. The Success Cycle

Insight from Kevin Kermes

"What got you here won't get you there."

Yet, while the adage is thrown around frequently...

seldom do we hear the biggest lever to pull in getting to "there.".

Enter The Success Cycle.

• Which are you doing well?
• Which are you underinvested in? 
• Are you creating messages and deploying those messages across all these micro-channels to maximize impact? 
• Are your science and your sales force telling the same story? 
• What's keeping you from deploying all four?

In this case -  1+1+1+1 = 10. 

This cycle is as simple as it is powerful.

This cycle builds upon itself like a snowball rolling downhill.

This cycle is happening right now with (or without) your consent.

1. The amount of belief you have determines the potential you can tap into.
2. The amount of potential you tap into determines the amount of action you take.
3. The amount of action you take determines the results you get.
4. The results you create determine the belief in yourself.
5. Return to 1.

Who we are directly comes from what we believe.

As a result, everything we DO comes from whom we decide to BE.

THAT is the goal.

That is where we come from...not arrive.

The experience of this moment is the reward. It’s the goal. 

Like Eckart Tolle reminds us, "The power resides in now."

Choose your beliefs wisely.

Things that make you go "Hmmm...."

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