What it Takes to be a Physician Entrepreneur

Unfortunately, few doctors have the package. But, those that do are creating great things for patients.

Physician entrepreneurs are not just doctors who create businesses.

Instead, they are those who pursue opportunity with scarce resources with the goal of creating user defined value through the deployment of biomedical or clinical innovation. As such they can assume many roles in the value creation pipeline such as technopreneurs, intrapreneurs (employed physicians acting like entrepreneurs) or social entrepreneurs.

Here are some thoughts about who they are and what it takes.

Some key attributes are:

1. Mindset Innovation starts with the right mindset.

2. Talent

3. Opportunity

4. Luck

5. Knowledge, skills and attitudes. Unfortunately, doctors get duped into thinking that getting an MBA gives them the right to call themselves physician entrepreneurs. More often, they are trained to be managers.

6. Networks and becoming part of the expanding network universe

7. Mentors and sponsors and knowing the difference and how to find them

8. Resources

9. Experience. Here are some tips on how to get started as a physician entrepreneur.

10. Emotional internal motivation

Unfortunately, few doctors have the package. But, those that do are creating great things for patients.