Unlock Funding Secrets – Watch episode #5 (1 hr)
BoneChat member, Marc Viscogliosi, discusses different types of equity capital funding sources available for early stage ortho companies. These include seed and angel investors, high net worth individuals and family offices, venture capital firms, corporate VC funds, growth equity, private equity, and sovereign wealth funds.The speaker emphasizes the importance of understanding the environment and dynamics of what you are trying to raise capital for in order to choose the right pathway.The speaker advises companies to be mindful of the legal aspects of raising capital and to have a good lawyer who understands the process.The speaker recommends lilypad financing, which means raising capital in small amounts as opposed to taking a large amount of money at once. This approach forces the company to be more disciplined with their spending.The speaker believes that even in the tightest capital markets, good businesses will always get funding.
Crafting the Perfect Pitch Deck – Watch episode #33 (1 hr)
BoneChat member Ted Bird shared the best practices of a successful fundraising pitch deck including a compelling story. The video suggests following the 10/20/30 rule. He explains why it is also important to tailor your pitch deck to your audience and have an elevator pitch ready, which is a brief introduction about yourself, your company, and its value proposition. In order to tell a compelling story, Ted suggests including conflict, vivid language, and a strong call to action. This will help you connect with your audience and make your pitch more memorable.
Navigating VAC Committees – Watch episode #24 (1 hr)
BoneChat member Mark Copeland, The Value Analysis Whisperer, discusses best practices in navigating VAC committees. Value analysis committees are formed by healthcare systems to get the most out of their budget. They aim to get the best clinical practices applied across their system and centralize purchasing.The speaker, Mark Copeland, who has experience working in sales for medical devices, provides tips on how to navigate these committees.One of the tips is to understand the different priorities that value analysis committees have. These priorities include standardization versus supply diversity, commodities versus breakthrough technology, health equity, and workflow.Another tip is to identify the decision makers involved in the process. Understanding who needs to be convinced and their priorities is crucial for success.Mark also advises salespeople to avoid using terms like “bean counters” to describe the value analysis committee members. This approach shows a lack of understanding of the process and could hurt your chances of getting approval.
Lessons from the trenches: Building ortho companies – Watch episode #2 (1 hr)
Marc Viscogliosi shared valuable insights gleaned from his experience building ortho companies. He stressed the importance of constant involvement and an unending pursuit of capital. He highlighted the crucial role of having the right people at the right time, particularly when it comes to building a strong salesforce. Marc further emphasized that a common oversight is neglecting the influence of the least powerful hospital personnel who can ultimately influence the adoption of new technologies. The discussion wrapped up with an invitation for audience participation and a call for suggestions on future topics.