MedTech | Startup
To enter a market of specialists as an outsider, it is not enough to build the perfect technology. A solid knowledge of your market, a well-founded strategy to approach that market, and, above all, knowledge of your customers and their sensitivities may be even more important.
Challenges
The market
I often say: "You cannot sell, you can at most help decide." That requires a different approach than from the standpoint of the technology you are building. You approach the issue from the customer's perspective. What benefit is there for them?
The founder
Technically trained, and an innate aversion to commercial activities, which makes it difficult to appeal to their empathetic ability. Yet it is precisely that ability that makes it possible to translate features into benefits that matter to the customer. And thus provide a solution that is not only attractive to the customer but also, and above all, provides an advantage.
Approach
In a healthcare environment, there is such a thing as "calling"; therefore, a thorough analysis of their "Why?" was needed before moving forward towards market approach. Defining the customer segment and applying the WHISPER© framework were steps in the right direction, but the financial reality also has its rights. Hence, the determination of core activities was started, after which a choice was made based on sharply defined priorities. From there, the business model was streamlined and made more realistic.