How to Find Success with Radical Innovations, Establish a New Category & Cut Through the Noise w/Michael Dermer
"The ability to have a healthcare organization understand the impact you’re going to have is paramount." -Michael Dermer
The process of commercializing an innovation in a completely new category requires an approach that is entirely different to incremental innovations.
When you’re trying to innovate in such a space, how do you get the messaging and positioning right? Why do you have to put a lot of time and effort into your sales strategy? What core capabilities does an innovator need to have in order to succeed?
On this episode, I’m joined by Michael Dermer, a healthcare rewards pioneer and founder of IncentOne and The Lonely Entrepreneur, who shares on building the first healthcare rewards company and gives his insights for innovators.
3 Things You'll Learn
How to move a market that’s slow to change
How to rise above the noise and get in front of key decision makers
Why focusing on product alone isn’t good enough
Influencing a slow and clunky industry like healthcare can be an immense challenge because you’re trying to turn a huge tide. A lot can be learned from the story of IncentOne, and how they were able to succeed at a time when most healthcare organizations find the idea of rewarding people to be offensive.
The secret is positioning and messaging, and— more specifically— coming up with a central theme that people can connect to. Play in an area where only you can win— a space where no one else is. You have to marry the clarity of your vision with what it takes to actually get business.
Guest Bio
Michael Dermer is an entrepreneur, speaker, lawyer and founder/author of The Lonely Entrepreneur. Michael is considered the founder of not only a company, but an industry – rewarding individuals for healthy behavior. Michael left a promising law career to start IncentOne, the first company to provide rewards for healthy behavior. For more on Michael or to join the learning community, go to https://lonelyentrepreneur.com/ and to get in touch email michael.dermer@thelonelyentrepreneur.com. By the book here.