If you need an appendectomy, call a surgeon. But if you’re seeking a CEO for a surgical device company, an MD may not be your best choice.
Too Many Experts Can Hurt Your Innovation Projects
Expert advice is vital to the success of any company — but too much can actually be detrimental. In this piece, the author describes a recent study on medical device startups in which researchers found that having too many doctors on the team — and in the wrong roles — was a liability for young companies trying to innovate, and that firms with physician CEOs were actually significantly less innovative. The study also offered several practical insights for entrepreneurs hoping to avoid these stumbling blocks, including finding the right roles for the right people, understanding how your role affects your ability to work effectively, and being open about your own limitations. With these guidelines, companies can find a balance between encouraging experts’ input and developing innovative ideas.