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3 min reading time
I sat through a terrible pitch last week. Too bad he didn’t watch this 10x video first: http://medgroup.biz/med-device-pitch Crystal Research’s Jeffrey Kraws’ comments stuck with me. He said, “Assume I already know this: • I already know you’re going after a large medical market with unmet medical needs. • I already know you think you have the best medical doctor out there on Planet Earth and he’s the world’s expert in this area. • I also know your management team has gazillions of years of experience and are the best at everything they do and have a proven track record and have done this. • I also know you have strong IP. • I also know you’re going to do this at a cheaper cost than anybody else. • Faster, better, and oh my God, do you know that company A and company B got sold for this much? Their stuff is crap. Our stuff is the real deal. We got all that. I hear that everyday all day long.” His overarching points: Anticipate his questions. Answer succinctly. Say “I don’t know, I’ll get back to you,” when you don’t know. Then get back to him. Also on the panel, • Rick Baron, former Globus Medical CFO now working with Zyberna Pharmaceuticals, explained that as soon as he closed a round his next step was to start the following round. Definitely worth watching and you can download the transcript at http://medgroup.biz/med-device-pitch. For discussion, do you have lessons learned about pitching to share with the group? +++ Jeffrey Kraws will present “Raising Capital” at our next 10x event (May, San Diego). See http://medgroup.biz/About-10x to meet him. Register before prices go up on November 1. 100 percent refund if you need to cancel for any reason before Valentine’s Day 2016, so capture the discount now. ++++++++++ BONUS VIDEO CFO Rick Baron shared his perspectives on three life science companies he helped bring to market and its implications for your medical device company. See http://medgroup.biz/Device-CFO ++++++++++ Discussions Theranos under pressure. Your thoughts? How can I get integrated as a supplier in this community? Validation differences btw Class I and III devices? Your take on American Cancer Society mammogram change? ++++++++++ Make it a great week. Joe Hage P.S. We’re serious about moving the Medical Devices Group off LinkedIn. To stay involved, register at http://medgroup.biz/MOVE Menno S. Shrink Joe Hage Bill Peatman Chris Nevarez Erik Burd Charles Tsur Shraibman Gavin Ritz Joe Hage John G. Caruso Trina L. Schneider Marked as spam
 Posted by Asked on October 27, 2015 1:34 am
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