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6 min reading time
I get asked the same questions all the time.
“Joe, I am looking for a new position and/or I’m looking for new clients for my consultancy. Do you know of any opportunities for me?”
“Joe, I am looking for sales representatives (1099) and/or distributors to sell our products? Can you introduce me?”
“Joe, I am looking for a source of financing. I would be willing to license it. I would even consider selling the IP. Can you help?”
From now on, I’ll be able to point my inquisitors here. It should save everyone a lot of time.
Let’s Start with Supply
Remember supply and demand? Each of these three above involve supply.
Job: You can supply a human being to do tasks.
Distribution: You can supply a product to people who sell products.
Money: You can supply an investment opportunity to investors.
Let’s Talk about Demand to Hire You
Demand for your services: You want someone to buy your time and talent. How will they know you’re right for them? They’ll want to know:
In order to really help you, I’d need:
I’m sorry. I can’t fulfill either of these requirements, despite my vast network.
I get it. So how can you help, Joe?
Does that help? 😊
Let’s Talk about Demand to Represent You
Demand for your product: You want someone to sell or distribute your product or service. It’s not going to be easy.
Years ago I asked distributors how I could help manufacturers seeking distribution. And back came the sobering but enlightening reply.
“We carry thousands of products. For us to consider carrying a new product, it has to have three things.
Can you deliver all these? If not, I don’t know anybody that can help you.
Group members agree. Here are 34 comments they added when I covered this years and years ago.
About lists of distributors. Here’s one publicly listed on the HIDA website to get you started. Yes, I can sell you access to a list of medical device distributors outside the US you could call and/or email. But if you don’t have all three things above, I wouldn’t recommend you buy it.
Does that help? 🤨
Let’s Talk about Demand to Finance You
Demand for your investment opportunity: You want someone to invest in your company. I know you know it’s hard.
And you’ve likely considered the alternative for giving you money is spending money on anything money can buy! That’s a lot of competition!
We recently covered this topic at “Want my money? Fill this out.” It includes a download and video advice from people much smarter than I on the topic.
But I found this list of top venture capital firms if you like. (It will immediately download onto your computer.)
Good luck! 🤑
What do all these have in common?
Something very marketing related: How you position your offer.
I began today with what people ask me. They all start “I am looking for…”
Unfortunately, no one cares what you are looking for. (I care, but it’s not the point.)
They care about – I know you know this – WIIFM: What’s in it for me? I discuss it in a roundabout way in our first Medical Devices Group podcast:
I invite you to frame your need in the context of what’s in it for them and here’s the formula.
Remember, your value proposition has to be so compelling it forces them to act. To switch. To change something, and now.
We – your future investors, consultants and advisors, distributors, and employees – need to know you can be successful and you’re worth our time.
If you have a superlative offer, you’re halfway there.
Make sure you complete the story with strong marketing communication, a topic on which I’m well versed.
And with that backdrop, let me know how I – and my network – can help.
Medical Device Marketing webinar
I invited Todd Hartley to discuss How to Outperform Your Competition Online.
Introducing Kyle Kruse and Global InterConnect
We introduced a new concept at 10x this year called “Fast Rounds.” Fast Rounds recognize each guest is an expert – even if we don’t have time to feature each as a speaker.
I spent time with Kyle Kruse, Senior VP of Product Solutions for Global InterConnect, providers custom connectors, cable assemblies, and printed circuit boards for medical device companies.
Click here if you’d like to be considered as a future Fast Round participant.
Thank you for being part of our Medical Devices Group community!
Make it a great week.
P.S. 10x London!
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Susan K. Baushke, MBA
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David Otto, DC, DACBN
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