From Idea To Market: The Journey Of A Medical Device Entrepreneur Like Dr. Jon Kiev
May 22, 2023
As medical device entrepreneurs, they’ve learned that building a product is a lot more complicated than drawing up sketches and finding some manufacturers. There are many hurdles to overcome — from fundraising to regulatory approvals — but if you’re willing to put in the time and effort, it can be done! Here are some things that you should consider as you start down this path:
Along The Way, There Are Numerous Obstacles And Surprises.
You will face challenges and surprises along the way. You may have an idea that you think is a good one, but it turns out that many other people have had similar ideas in the past. Or maybe you do everything right and still fail at first because of market conditions or some other factor beyond your control.
The most important thing is to build a team around yourself with people who can help solve these problems as they come up, whether it’s finding funding or working through regulatory issues, or whatever else comes along. You need advisors who understand what it takes to get things done in this space–and preferably ones who’ve been there themselves before!
You Need A Strong Network Of Advisors.
As you can see, there are many steps to go through before you launch your product. The most important thing to remember is that this journey will be different for everyone, so make sure you have a strong network of advisors who can help guide your way.
When choosing an advisor, look for someone who has been through similar processes and will be able to provide insights based on their experiences. You’ll also want someone who understands the healthcare industry well enough like Dr. Jon Kiev not only to give advice but also understand what kind of questions need asking along the way–and know where those answers might be found!
You Have To Have A Basic Design.
You need to be able to show the design to potential investors, customers, and distributors. The next step is finding suppliers for the components that will go into your device. You can do this by searching online or looking at trade magazines that list suppliers in the industry you are interested in working with (for example medical devices).
Once you have found some possible suppliers who might be able to help you build your product–it’s time for another round of meetings!
Building A Product Is Difficult And Requires Careful Planning And Execution.
Building a product is difficult and requires careful planning and execution. There are many challenges and surprises along the way, so you must have a strong network of advisors who can help you navigate these issues.
There are other hurdles to overcome as well: developing reliable manufacturing processes; finding quality suppliers who can produce your parts at reasonable prices; finding distributors who will sell your product in the marketplaces where you want to sell it; establishing relationships with physicians who will prescribe your device for patients’ use–and much more!
Hope that this article has helped you understand the journey of a medical device entrepreneur like Dr. Jon Kiev. It’s not easy, but it can be rewarding if you have the right mindset and plan. There are many challenges along the way, but if you’re prepared for them and have a strong network of advisors to help guide you through them then we think your chances of success are much higher!