Healthcare Innovation Rule # 8: Passion is Not Enough
Today we continue our series on 10 Rules for driving health innovation faster with another post in the lead up to our CyberMonday MedStartr Momemtum event.
We know many of you have great ideas and great passion to help improve healthcare but we are here to tell you…
Rule # 8: Passion is Not Enough
Healthcare attracts so many entrepreneurs fueled by a plethora of passion and sometimes little else. Don’t get us wrong, we all want to find a cure and save lives, but as any married couple hitting their silver anniversary will tell you, passion is not enough. Passion may bring you to the health tech market, but it won’t keep you there. You have to have a sound business model and a solution that addresses a problem in ways that patients, providers, and partner love. So passion on top of a great idea and business plan will get you there.
Ben Franklin said it the best: “If passion drives you, let reason hold the reins.” — Benjamin Franklin
So what is Passion good for?
So many ideas we see on MedStartr and at our H2NYC events are generated by empowered patients, providers, and healthcare leaders of all stripes. Passion is the fuel that gets these folks going, wakes them up at 2 AM, and keeps their fires burning long after those less motivated would give up. Passion is the Healthcare Entrepreneur’s rocket fuel,but without the reality of creating customers willing to pay for the fruit of their nightly labors, entrepreneurs fueled by passion alone will burn out long before achieving stable orbit.
Houston, We Have A Solution We created our health innovation platforms to help our fellow passion-powered healthcare entrepreneurs to achieve lift-off by acquiring early adopters, feedback, critical team members, mentors, customer, partners, advisers, and investors. If that is you we encourage you to apply to pitch next week at MedStartr Momentum 2015. The DEADLINE is tonight at Midnight, EST. Apply Here. You can also talk to hundreds of folks all day about your idea from your very own table at the event.
If you want to get involved with one of over a dozen great new companies pitching or just bask in the glow of health innovation through leaders like Susannah Fox, Regina Holliday, Peter Frishauf, Cheryl Pegus, and Amy Cueva, then come join us November 30th. You can always watch the livecast on MedStartr.tv or follow us on twitter at Hashtag #MedMo15, but that not nearly as fun as being there. Get Discounted Tickets here while they last!
Why Regina? We chose a photo of our inspirational friend Regina Holliday, the epitome of patient passion, to headline this post because as an adviser to MedStartr since day 1 she has always been a champion of making sure that there is a sound financial underpinning to what we do. No, we don’t ever forget the importance of why we do this, but it always needs to be sustainable. Thank you Regina!
You can meet Regina and hundreds more healthcare innovation community members irl Next Monday. See you there!
Sincerely Yours, Alex, Anthony, Mimi, Steve, and the H2NYC / MedStartr Team Please call if you have questions or ideas: 530.MED.STAR