Welcome to 2025!

And just like that, it’s already February!

We thought we’d start off the new year with a topic that’s a little bit different. Instead of diving deep into the details of FDA Regulations or Medical Technology, we want to talk about the bigger picture of business itself. After all, whether you’re running a medtech startup, investing in one, or supporting this ecosystem in some other related way, chances are this isn’t just a hobby. This is your profession—your livelihood.

The reality is that in today’s healthcare system, patients aren’t going to get lifesaving care when the business side of healthcare is struggling. I wish it wasn’t that way, but it’s the reality for now. And new ideas aren’t going to make it into patient care unless they really address a true need. As they say, “In God we trust, all others bring data.”

The burden of proof is going up, good partners are hard to come by, and here you are in the middle of some gargantuan effort to bring some solution to market—or to support others who are doing so. Oh, and did I mention the world seems to be melting down around you? Economic uncertainty, evolving regulations, external pressures… what’s a person to do?

First, breathe.

What Are Your Pillars?

Let’s talk about a simple question that can bring some sanity to your business: What are your pillars?

By “pillars,” I mean the core areas of your business that consistently deliver undeniable value. These are the reasons your stakeholders—be they customers, investors, or partners—keep coming back. They’re the aspects of your work that people invest in, believe in, and rely on.

In our work with companies young and old, I see a recurring failure mode: creative founders and managers who can invent their way out of anything sometimes don’t know when to stop inventing. Even after seeing some success, they keep over-thinking, over-innovating, and over-specifying in areas where they’ve already proven value. Innovation doesn’t need to die, but it needs to take an incremental place in an organization that’s demonstrated value in a few core pillars.

Let’s face it, there’s a lot of chaos out there, a lot of moving parts. And it can feel a bit dull to slow down and revisit what’s already working. But if we’re not careful, we can minimize our own successes by always chasing the next big accolade, rather than doubling down on the things that stakeholders are already celebrating.

Why Pillars Matter

Your stakeholders, whoever they are, are with you for a reason—so shore up and support that reason.

• For a startup: You might need to fulfill the story your investors bought into. Congratulations, you got funded. Now your job is to shepherd that story into reality.
• For a more established company: Your existing customers have come to trust certain features or benefits in your product or service. Keep those core values strong before you pile on new additions.
• For a vendor or service provider: Clients buy into the particular value you deliver—maybe it’s incredible communication, maybe it’s fast turnaround. Whatever it is, that’s your pillar. So honor it, nurture it, and make it even stronger.

Identifying Your Value Pillars

If you feel scattered as a business, one remedy is to formally—or informally—rediscover your value pillars. Ask yourself:

• Who are my stakeholders? List your customers, investors, team members, and partners.
• What do they value most about what I offer? Look for what you consistently hear in feedback or see in repeat business.
• Where might we be over-building or over-architecting? Are we adding complexity where a simpler approach would do?
• Are we missing any pillar entirely? If something important is slipping through the cracks, realign your resources.

Once you see these pillars clearly, you can combat overwhelm by trimming away what isn’t truly necessary to support them.

Innovation vs. Over-Innovation

Focusing on your pillars doesn’t mean innovation dies. It just means you don’t throw everything out the window in an endless search for the next big thing. Identify your pillars, shore them up, shine them up, and then innovate on top of them—or right next to them—so they form a solid, cohesive structure.

Remember, good buildings need good foundations.

Bringing It All Together

Ultimately, in healthcare and medtech, strong businesses lead to more consistent patient care. Your ability to deliver on your value pillars—those areas where you truly shine—means patients, partners, and investors are more likely to trust you, stick with you, and help you grow.

So as you head further into 2025, take a moment. Identify your pillars, commit to them, and watch how that clarity makes a huge difference in everything you do—whether you’re creating the next innovative medical device, providing a top-notch service, or simply supporting this amazing ecosystem from behind the scenes.

Final Thoughts

If you’re feeling scattered, remember to breathe. You’ve come this far for a reason. Lean into what you already do best, deliver on the faith your stakeholders have placed in you, and then decide where future innovation can add real, incremental value.

Here’s to a successful, focused 2025—may it be the year your pillars hold strong and your vision soars.

As always, feel free to reach out with any questions or for more insights!