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:

1. Do you have the precise skills they need?
2. The right cultural fit?
3. Relevant previous experience?
4. Compensation expectations in line with their offer?
5. Perhaps your geographic flexibility and relocation expectations?
6. Recommendations from people whose opinions they’d value?
7. How you compare to every alternative hire?

In order to really help you, I’d need:

• To know you, your work, and your strengths really well.

• To know them, their culture, the role, their customers, their constraints really well.

I’m sorry. I can’t fulfill either of these requirements, despite my vast network.

I get it. So how can you help, Joe?

I can give you this advice:

• Watch this video. Shortened to seven minutes, my advice for a medical device professional in transition. We covered LinkedIn profile, networking, and filtering ideas. They may inspire you.

• We won’t “hear anything.” We want to help but don’t make us work too hard.

  

• Build relationships with recruiters – before you need them. They have more inventory of “supply” (talent) than “demand” (jobs). You need to be qualified, top-of-mind, and someone they know and want to help.An executive placement professional’s job is precisely what I described earlier: Someone who knows you and knows them well. It is a full-time job! That’s why asking “a Joe Hage” if “he hears of anything” is so fruitless for you.

• Copy Michelle’s LinkedIn format and style. This is the best LinkedIn format I’ve seen. See how completely she used her header? It even includes her email address. Her smile is warm. She used Yaytext to get those different fonts.Do that. Your LinkedIn is far more important than your resume. Use it.

  

• Visit this long discussion. Medical Devices Group members weighed in with hundreds of comments to the post “Breaking into Medical Device Industry Sales.” (We covered more than sales.)

• Visit this job board. I’ve already set filters for you. Click to visit the LinkedIn job board.

  You may recall I launched a job board months ago, but I quietly shuttered it. As of this writing they have nearly 2,000 positions listed. I had maybe 50.

  Use the tricks in the video above. Maybe you’ll get some traction if your LinkedIn page is ready for the visitors you attract.

• Why should we hire you? When you get that interview, be prepared to answer this almost-certain question. Here, Bill Todd gives you the beautifully obvious and logical answer.

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.

1. Noteworthy. It has to be noteworthy. We don’t need more ‘me-too’ products.
2. Support. It needs to come with solid marketing support and training. We can’t expect our reps to know everything about every product we carry.
3. Profit. There has to be a healthy margin and reasonable sales volumes for us to even consider it.

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.

To whom,
your services/products/investments
are the [what is the frame of reference]
that [what is the benefit]
because [how you support that claim].

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.

Related resources:
• The First Three Questions Before You Spend a Dime on Marketing and
• For Medical Device Startups Who Need Help

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Medical Device Marketing webinar

I invited Todd Hartley to discuss How to Outperform Your Competition Online.

The slides and replay are now available for immediate download. If you prefer a shorter, quick review, watch the 13 minutes below.

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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.

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Thank you for being part of our Medical Devices Group community!

Please   to educate your network.

Make it a great week.

Joe Hage
Founding Principal,
Medical Devices Advisory Group

P.S. 10x London!
I’m bringing the 10x Medical Device Conference to London in February 2020. If you have interest in speaking, sponsoring, or just attending, this is the time to let me know.

Yes, I might be interested.