Our team has built MedTech companies for more than three decades.

As a recruiter sitting in the middle of career decisions involving roles at medtech companies, equity is often a focus of conversation.  Stock options are commonly offered as a component for compensation in privately held startups, and the value of the potential payoff based on milestones is an enticing potential windfall, large or small.  Individuals attracted to startup opportunities seek the potential to impact the company’s value as it is built out and achieves important milestones. 
As I counsel individuals considering startups, the basic & simplified due diligence that I encourage is evaluating:

  • the unmet need in the market
  • the reimbursement and revenue story
  • the executive team’s track record
  • funding
  • the individual’s harmonization with the vision of the company 

These pillars can be the foundation of a young company’s chance for success, enhancing valuation and potential for valuable equity.

What if, as young professionals entering the medical device industry, we began thinking of our career as a startup company? 

The success of the “company”, and for our story, the success of the individual’s career, is based on critical characteristics.

The unmet need in the market.  What unique value proposition do you, Medical Device Individual, bring to the company?  What unique characteristics do you bring to the medical device industry?  Let’s go deeper… What do you bring to the universe? 

The executive team’s track record. With whom will you be surrounding yourself? We are judged by the company we keep. If you want to increase your individual stock value, surround yourself with executives who mentor you and resonate with your career goals. Learn, be challenged, and take your skills to the next level in each move you make. 

Funding. How are you being compensated, and how are you managing your life expenses?  What is the “burn,” or what are you costing the company relative to the payoff you bring towards the company’s success?  Frankly, the individual who is being overpaid in relation to the impact they make on the company is more vulnerable than the one who sees modest to moderate increases based on increased value to the organization. 

Clients are reluctant to pay someone less than what they have made in the past.  The individual seen to bring more significant value to the party than what their compensation may show will become part of the company’s foundation.  It’s worth noting that individuals who manage personal expenses prudently early in their careers tend to leave the opportunity for more “riskier” moves, some of which can provide incredible opportunities for later capitalization.

Impact. As you consider opportunities where you will contribute, your experience will be linked with the focus area, thus making you more marketable in certain segments. As you think about where to dedicate your time, our most valuable resource, think about markets expected to grow. The best market opportunities lie at the intersection of investor interest and what you care about, allowing your passion to shine through toward issues that will have the resources necessary to tackle. This intentional career development force creates future demand for your area of expertise.

As a recruiter who has placed thousands of individuals in medical device companies, thinking of your career as an individual business will help shift how you engage with opportunities to build market value over a lifetime.

This exercise begins with asking yourself, Who Will I Become?

By assessing the market need you are addressing, who you will surround yourself with, the financial impact of this choice, and the more significant contribution you will make in a growing market, you will see how your career stock can truly pay off.