Author Archives: Arlen Meyers

The 5 P’s of Product or Non-Profit Success

You’ve heard about the 4 P’s of Marketing: Product, Price, Promotion and Place (distribution channels) Whether you are an intrapreneur, a technopreneur, a service provider, own and run a private practice, an edupreneur or a social entrepreneur, the success of your product, service or non-profit will depend on your answering the 5Ps: What is the problem you are trying to solve? Start by ...

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Rookie Entrepreneur Mindset Mistakes

Innovation starts with the right mindset. Doctors who are considering a side gig or an alternative non-clinical career, have a hard time getting their heads around the entrepreneurial mindset. There is a difference between the clinical mindset and the entrepreneurial mindset. In my view, only about 1% of doctors have an entrepreneurial mindset because premeds don’t get selected for that trait. They get selected ...

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Fundamentals of Edupreneurship

Entrepreneurship means many things to many people. Perhaps the biggest misconception is that entrepreneurship refers, exclusively, to starting businesses. In fact, if we use the definition that entrepreneurship is the pursuit of opportunity with scarce or uncontrolled resources with the goal of creating user defined value through the deployment of innovation, then it means much more. In fact, there are many ...

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Entrepreneurial Psychopathologies

The US Armed Forces has a problem with soldier suicide and depression. In early 2013, the official website of the United States Department of Defense announced the startling statistic that the number of military suicides in 2012 had far exceeded the total of those killed in battle—an average of nearly one a day. A month later came an even more sobering ...

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Scaling School

Several years ago, I decided to give sailing a try. I started by going on a few local trips with some folks who owned a small boat and then, gradually, decided to improve my skills and confidence. Eventually, I completed “ground school” and then took several trips that required more and more skills, like navigation, man overboard drills, dealing with ...

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Virtuous Entrepreneurship

The evolution of the cyberintelligence driven economy-the fourth industrial revolution-is forcing everyone, including entrepreneurs, to answer some tough questions: How to not just create but share the value they create How to provide people with the knowledge, skills, attitudes and competencies they need to succeed and grow into the middle class When and how to use technology to scale humans, ...

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Advice to a Young Physician Entrepreneur

I’m often asked about how to pursue a physician entrepreneurial career pathway. Like Peter Medawar opined almost 35 years ago in his “Advice to a Young Scientist”, allow me to offer some advice : 1. You will not learn about innovation or entrepreneurship in medical school or residency. Medical education is designed to teach students clinical care and research methods. If ...

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The 4 V’s – How to Win at Health Innovation

Back in the day, during the Vietnam era, the suggested credo was “Declare victory and go home”.  Some sick care entrepreneurs have taken a similar approach by hyping digital health and process solutions that will create “Uberized, disruptive, cutting edge” change. Most are too early and wrong in declaring victory. For sick care innovation to be truly transformative, innovators need to demonstrate 4 main things : ...

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Barriers to Physician Entrepreneurship

Physician entrepreneurship describes physicians, or other health professionals, pursuing opportunity under conditions of uncertainty with the goal of creating user defined value through the deployment of biomedical and clinical innovation. One way to do that is to create a product, a service or a company, but there are many other ways as well. Fortunately, students, trainees and clinicians at all ...

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Do you have an innovation strategy?

A recent article by Juruzelski, Loehr and Holman from Booz Consulting (www.strategy-business.com) noted that there is no statistically significant relationship between financial performance and innovation spending. What’s more, they identified that the two primary elements of innovative companies are 1) a focused innovation strategy, and 2) an corporate culture that is wired for innovation. There has been a lot of ...

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