Author Archives: Arlen Meyers

Solopreneurship is Still a Team Sport

Despite rumors to the contrary, private medical practice is not dead. Yes, the numbers of employed physicians are growing, but, according to a recent AMA survey, 60% of physicians work in physician-owned practices. In addition, the report revealed that eighteen percent of physicians were in solo practice, down 6 percentage points over 5 years. Some define a solopreneur as a business owner who ...

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The Entrepreneurial vs the Clinical Mindset

Innovation starts with the right mindset. So, if you are a sick care professional, like a doctor, nurse, pharmacist, dentist or allied health professional interested in entrepreneurship or a non-clinical career pivot, then you not only have to change your mind about things, you will have to change your mindset as well. The 14 scales measured by the second (and final) ...

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When to Pull the Plug… and LEARN

Creating a new venture, championing a new process or offering a new course or program is exciting. However, statistically, it is more likely you will fail than succeed and there is a fine line between determination and pig-headed optimism. You might not have the skills to do what you love. At some point, you will have to consider quitting and moving ...

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Getting to Why

In their classic book on negotiation and persuasion, Fisher and Ury outline the steps to get to yes. They suggest the following approach: Separate the people from the problem The purpose of this step is to recognise that emotions and egos can become entangled with the problem in negotiations, and that this will adversely affect your ability to see the other party’s ...

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How much is in your organization’s Innovation Reinvestment Account (IRA)?

One of the best ways to reduce your tax burden and save for the future is to maximize contributions to your Individual Retirment Account (IRA) early and often, create the proper asset mix and periodically doing an asset allocation rebalance at the right time. Similarly, the future of most companies, organizations and universities depends on their ability to put innovation ...

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Best Practices in Bioentrepreneurship Education

Entrepreneurship education programs are expanding rapidly and recent polls indicate that 20-25% of B school applicants are interested in starting their own business. Many applicants, including medical school and graduate school applicants already have, but feel they lack the business skills to start and scale their companies. Consequently, there are more Masters in Entrepreneurship programs sprouting up around the world. In addition, bioentrepreneurship ...

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The State of Sickcare Entrepreneurship

Physician entrepreneurship has changed from a curiosity to becoming mainstream in 5 short years. Defined as physicians pursuing opportunity with scarce resources and conditions of uncertainty with the goal of creating user define value through the deployment of biomedical and clinical innovation, we are starting to see some trends and fault lines forming. 1. The phenomenon affects all physician demographics including ...

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The Entrepreneurial Mindset

Most doctors, scientists, engineers, business school grads and lawyers I’ve taught don’t have an entrepreneurial mindset. There are lots of reasons why, some of which have to do with how they are chosen by their respective educational establishments. After all, you don’t get accepted to medical school because of your intense creativity. You get accepted, primarily, because of your GPA ...

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Fail it. Nail it. Scale it. Sale it

Q: What are the three most common questions doctors, scientists and engineers ask about their new ideas, inventions and discoveries? A: What do I do next ? How to I find money? How do I scale my business? The answers are to 1)set up and fail at conducting the right business model and experiment to find a profitable and scalable business ...

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Creativity comes from an open mind, not an open space

The newly elected members of Congress don’t have to worry about working in an open space office environment. Instead, they cross their fingers and hope they get an office with a view. Those who are not running for reelection or lame ducks sit in cubes until the new sesion starts. Likewise, most employed physicians, including academic physicians, savor their private offices and ...

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