Let’s talk about another killer app for orthopedic companies, SPEED. I have already written about Risk and Iteration. Let me share how startups use speed to win, and how your company can use speed to win.
Successful orthopedic startups use SPEED as a strategic weapon against the incumbents. Startups leverage speed to win even though they have few resources. Speed enabled Danek, NuVasive and Arthrex to come out of nowhere to totally dominate categories in orthopedics within a few years. BTW, the NuVasive mascot is the cheetah.
You see… SPEED is the elusive asset that is out-of-reach for the large companies.
No matter how hard an established ortho company tries to create a culture of speed, other factors won’t let it happen, because they are bogged down with existing product lines, inventory, market reputation, and distribution models. Simply going through the process of determining how a new product or technology will impact their existing businesses will take Big Ortho more time than it takes for the Startup Ortho to do it.
While the Big Ortho employees are stuck in meetings, st...
