Launching a startup in today's highly competitive business landscape can be challenging, particularly in the medical field. However, physician entrepreneurs are uniquely positioned to identify gaps in the market and develop innovative solutions that improve patient outcomes.
Join this conversation where we dive into the world of physician entrepreneurship with two experts in the field, Todd and Kim Saxton. Both professors for a physician MBA program at Indiana University have extensive experience working with doctor entrepreneurs and have been advisors, consultants, and board members for numerous physician-led businesses.
In this podcast, we explore the various paths that physician entrepreneurs can take, including angel investing and innovation within the medical field. We also discuss the common pitfalls that physician-led startups face and strategies to avoid them. Whether you're a medical practitioner exploring entrepreneurship or an investor looking to support physician-led startups, this episode offers valuable insights and practical tips to help you succeed in this exciting field.
Key Highlights from the Show
[00:01] Episode intro and a quick bio of the guests, Todd & Kim Saxton
[02:38] A quick background of Todd & Kim Saxton and how they got into what they do
[04:04] Why Kim decided to shift to marketing at MIT
[06:28] Why medicine is both a science and art
[11:05] Risk vs uncertainty in a physician’s business
[16:42] Different paths to entrepreneurship for physicians
[19:03] Other avenues that medical graduates go to apart from medical fields
[26:11] Entrepreneurship mistakes and how to avoid them
[27:48] Three things that sink many of the startup ships
[33:34] What physician startups can improve on
[41:13] What Todd & Kim wishes to have put more resources into their entrepreneurship journey
[43:05] Best ways to reach out and connect with the guests
Website: https://www.titaniceffect.com/
LinkedIn: http://www.linkedin.com/in/profmkimsaxton
Facebook: https://www.facebook.com/TitanicEffect/
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Thank you for listening to FROM MD To Entrepreneur Podcast
Tune in every Wednesday, 5 AM PST.
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When firing someone, it's essential that you handle the situation with respect and dignity. It should also be done professionally, allowing them to maintain their self-respect and dignity. This means having clear communication about why they are being let go, offering assistance during their transition period, and providing a respectful termination process for all parties involved. Join this conversation with Wendy Sellers and learn how and why it is important to lay off an employee humanely, as this will help them move on from the situation and succeed in the future.
Wendy Sellers, known as “The HR Lady,” is an involved business partner, educator, and HR consultant who strives to understand your current culture and desired culture and then helps you build HR policy and practices, management training, and tools around your unique environment and goals. Recruiting is an additional service offered. She is a thought leader, keynote speaker, trainer, consultant, advisor, and author. She has over 25 years of experience in HR operations in a wide variety of industries. In this podcast episode, we talk all about best practices in running a business. We also do a deep dive on how to lay off or fire someone in a way that they will not hate you for life and potentially even send you great referrals in the future.
Key Highlights from the Show
[00:01] Episode intro and a quick bio of the guest, Wendy Sellers
[04:45] How Wendy got to be an HR lady and started her consulting business
[07:01] What is really human resource
[09:26] One of Wendy’s worst experiences as an HR
[12:23] Questions you can ask a company to get a glimpse of its culture
[14:39] How startups can build a culture that attracts and retains the right people
[20:09] The process of respectfully firing an employee
[25:09] Should you lay off a well-performing employee on the basis of cutting costs?
[27:49] Wendy’s thoughts on Severance pay and the best ways to utilize it in your business
[32:33] Wendy’s strategies for letting go of a C-level performer in the business
[35:52] Best business practices from high-achieving companies to borrow
[39:56] Resources that can help you apt your management skills
[42:10] What Wendy wishes to have put more resources into when starting her
entrepreneurship journey
[43:55] Best ways to reach out and connect with Wendy Sellers
Notable Quotes
● HR people should help an organization from hiring to retirement and everything in
between. [08:37]
● Always communicate in your business and let the employees know your plans. If you
keep quiet and it becomes a rumor, the good people will leave to look for better jobs.
[20:33]
● Never lay off a well-performing and highly-paid employee in your team on the basis of you cutting the cost. It will backfire on you. [25:17]
● The more you help an employee who you have laid off and the more flexible you are with them, the nicer they are going to be to you. This means they will not sue you. In fact, they will come back to you or refer other people to you. [32:20]
Get Wendy’s Books
1. Business and HR Management Books: https://thehrlady.com/author
Connect With Wendy Sellers
Website: https://thehrlady.com/
LinkedIn: https://www.linkedin.com/company/thehrlady
Instagram: https://www.instagram.com/thehrladyllc
Facebook: https://www.facebook.com/3
Thank you for listening to FROM MD To Entrepreneur Podcast
Tune in every Wednesday, 5 AM PST.
Follow Us on our socials
Thank you for listening to FROM MD To Entrepreneur Podcast
Tune in every Wednesday, 5 AM PST.
Follow Us on our socials
Thank you for listening to FROM MD To Entrepreneur Podcast
Tune in every Wednesday, 5 AM PST.
Follow Us on our socials
Thank you for listening to FROM MD To Entrepreneur Podcast
Tune in every Wednesday, 5 AM PST.
Follow Us on our socials
Thank you for listening to FROM MD To Entrepreneur Podcast
Tune in every Wednesday, 5 AM PST.
Follow Us on our socials
Thank you for listening to FROM MD To Entrepreneur Podcast
Tune in every Wednesday, 5 AM PST.
Follow Us on our socials
Thank you for listening to FROM MD To Entrepreneur Podcast
Tune in every Wednesday, 5 AM PST.
Follow Us on our socials
Thank you for listening to FROM MD To Entrepreneur Podcast
Tune in every Wednesday, 5 AM PST.
Follow Us on our socials
Good communication is clarity of thought in a way that is understood. However, that is not always the case in business or relationships. People just talk and never communicate. Communication must clearly convey a message so that it is not misinterpreted because that is what makes the fabric of effective marketing in a business. As we know, where there is no marketing, there are no sales, and a business that does not make a sale is headed for failure. Everything begins with communication, and that is why it is a mandatory skill for all entrepreneurs. Mark Harvenner, a communication and marketing strategist, joins us in this episode to share tips and insights on this subject matter.
Mark Havenner is a marketing and communication strategist specializing in brand and executive thought leadership, strategic content development, and corporate communications strategies. He's more than 20 years of experience aligning messages and business goals and developing many communication vehicles and message strategies for many clients.
In this podcast episode, we will talk about messaging, branding, and how to align what you say with what you want to do.
Key Highlights from the Show
[00:00] Episode intro and a quick bio of the guest, Mark Havenner
[01:51] Mark’s backstory and his entrepreneurial journey
[02:45] What is good communication, according to Mark
[03:46] How his background in marketing translated his focus into communication
[05:09] How Mark would help an ambitious consultant or coach talk to the market
[07:06] How to niche down to your ideal market
[13:20] The layers of effective communication
[16:55] Become a person of value and not a commodity
[20:57] Ways to stand out and say who you are and what you do to your audience
[34:13] What Mark wishes to have spent more money & time when starting entrepreneurship
[34:45] Best places to reach out and connect with Mark
Thank you for listening to FROM MD To Entrepreneur Podcast
Tune in every Wednesday, 5 AM PST.
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