MedTech + Mindset Newsletter #022

Welcome to the MedTech + Mindset Newsletter! 

If you like the newsletter, please encourage your friends to subscribe here or forward this message.

If you don't find this valuable, feel free to unsubscribe.  We promise that it's ok.

This week's Medtech+Mindset Newsletter is brought to you by Recoupe Tax.  If you are involved in product development, product modifications, research and development, software development, prototyping, laboratory buildouts, pilot studies, or clinical studies - you're doing innovation and should talk to Recoupe. 

Click here to watch a 20 minute powerful, runway extending webcast.

1. First Principles Thinking as a Problem Solving Technique

I've learned a lot from all the multinational companies I've worked in, but under the right opportunity, I've learned the most at startups. One of the biggest reasons is that you can more easily employ one strategy for problem solving that I love. It's called First Principles Thinking.

I'll bet you've been in a situation where you felt like you were just going around in circles? You're trying to come up with a creative solution to a problem, but all you can think of are the same old methods that have been used before. First principles thinking is a great way to break out of that rut.

The idea is simple: rather than basing your decisions on what others have done before, start from scratch. Ask yourself 'if I was starting from scratch, how would I solve this problem?' This may seem like a small change, but it can make a big difference in the quality of your solutions.

To really get to the heart of the problem, use the Five Why's method. Keep asking yourself 'why' until you get to the root cause. Once you've identified that, it's much easier to come up with a creative solution that actually works.

You can use the Five Why's method to help you with this. Keep asking yourself 'why' until you get to the heart of the matter. This will help you boil the problem down to its first principles so you can more easily find a creative solution.

Last week I was confronted with this exact situation. I've recently hired three new sales managers who, in any other situation, would be able to follow a well worn process - a well worn process I outlined in a training manual that I based off time I spent leading a brand at Mylan.

But it wasn't what they were needing. We weren't sure that it was representative of the sales journey that we needed our prescribers to go through. That product at Mylan was old. 15 years and a class of product that everyone knew about. Our product is a new treatment paradigm. It's not following the same process.

So I opened up a blank PowerPoint slide and just started asking - 'Why?' Over and over. Adding in an occasional 'What' and 'When' and 'Where.' By the end of a few hours I had mapped out the new, custom sales journey that more closely matched the needs of our customers as they learn about our product and a disease state that's been ignored.

First principles thinking is a great way to break out of decision-making ruts and come up with truly creative solutions. Next time you're feeling stuck, give it a try! 

2. Ten Ways to Avoid Workplace Drama

Insight from Matt Tucker

1. Never think you are a "superstar"

2. Never lose your temper

3. Always give 100%

4. Always give a positive attitude and smile

5. Always give credit where it is due

6. Always do your job well

7. Always give constructive criticism

8. Always do the right thing

9. Always be on time

10. Never gossip

What did you think of this week's newsletter?

Loved it I Great I Good I Just OK I Bad

If you enjoyed this, please consider sharing it with a friend, or recommending us on your social page.

 Are you following us on LinkedIn? If not, you can do that here for more updates, insights, and opportunities.

 If a friend sent you this, get the next newsletter by signing up here.

Who is MedTech + Mindset? We’re committed to providing the best information, strategies, and tactics to advance your product and career. We ignore the pablum, listicles and clickbait and only share high-quality, vetted, and actionable commercialization content.

That's it for this week.

 — Your Friends at the M+M Team.

 
MedTech + Mindset is part of the CreateNext Group, which also publishes