NEXT is excited to bring our community a new blog series all about our clients. NEXT clients are at the cutting edge of all things and we thought you would be as interested as we are in learning about their journeys and how they are solving tough problems.
Our first feature highlights Sonogen Medical and its Founder Jason WInder.
About us: Sonogen Medical was established to research, develop, and commercialize ultrasound bone fracture healing technologies. We are currently working to achieve FDA approval for a next-generation bone fracture healing device based on state-of-the-art ultrasound technology.
What do you love about being an entrepreneur? I love the freedom to work on the projects that I care about. One doesn’t change the world by punching a clock, and it’s exciting to think about bringing products and services to market that ultimately improve society, as much as it’s exciting to think about the financial reward (down the end of a VERY long and painful road!).
What is the best advice you ever received? One of the best pieces of advice I ever received was from an Army brigadier general, who told me “Never be the last guy with a secret.” It’s absolutely critical to put systems and procedures in place that allow everyone in the organization to escalate ideas, problems, and risk in a safe and constructive way.
What is the hardest lesson you ever learned? I’ve definitely been dealt some tough lessons related to risk. I think the important takeaway at the core of these lessons is that “hope is not a plan.” There are lots of aphorisms in this regard…”if you fail to plan you plan to fail” or “no battle is won according to plan, or without one.” Pick your favorite, but conducting a risk assessment and mitigation plan is at the core of all business, whether you’re working to de-risk your deal to investors or working to grow a thriving business.
What is an important trend you are watching? I’m very intrigued by the application of machine learning and artificial intelligence to medical treatment. This is an extremely delicate area, especially from the FDA’s point of view of assuring safety and efficacy. However we are starting to see medical treatments that are being fine-tuned at a very granular level to patient symptoms, physiology, comorbidities, and responsiveness. As models become more sophisticated this trend will continue, which should ultimately improve quality of life and drive down medical costs. It’s all about the data.
What advice would you give an entrepreneur starting out? Surround yourself with smart people. There is absolutely no need to re-invent the wheel, and it’s folly to assume that you’re not only an expert in your core business, but also in all of the support areas around your business. As soon as you can afford expert help, seek it out. Sales. Marketing. Legal. That way you focus on your knitting, and ultimately punch above your weight as a small business.