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Medical Patents Broker Inc. By Kenneth Pearce, President
To Port, To Starboard, All Engines Stop, or Full Speed Ahead?
A founder is somewhat like a merchant marine captain. Between the capital-intensive nature of the industry, the FDA, licensing, and the SEC—all while trying to find a cure—a founder frequently treads troubled waters.
Steady as She Goes, or Wait for the Wind to Change?
No matter how much a leader plans, it never goes exactly as envisioned. Sleepless nights and exhausting days can easily taint the best judgments. Persistence in a single direction is a plan, but often, it isn't a good one.
History tells us that many industry game-changers stuck with their plan and eventually made it work, but there's no way to know if success would have found them sooner if they hadn’t been so hardheaded.
The "Just One More" Caution Zone
In the professional world, the only constant is that everything is always changing. After spending millions of dollars to prove data that simply does not compute, it is probably not the right time to declare, “We just need one more trial to prove we were right.”
In this Caution Zone, there is a high probability the science, the methodology, or the hypothesis itself is simply incorrect.
The Weight of the Chair
It is a heavy responsibility to be the captain of the ship. If that captain is also the inventor, the work may represent a large portion of their life—and they may resist being wrong... to their own detriment.
The distractions are endless:
- Too many lieutenants offering "yes" or "no" answers that can cloud the goal.
- The deep sense of obligation to initial investors.
- The impossible task of being everything to everyone on staff.
When interacting with people over the years, many have told me they wish they were a billionaire because of the money. I often gently ask them: “Do you like making dozens of decisions every day that directly affect the lives of others?” There is a great, often unseen responsibility in navigating the ship.
As President of Medical Patents Broker Inc., I believe it takes a near-miracle to get a medical invention all the way to the patient. So congratulations on the steps you have achieved already! When you are ready to take the next steps on your voyage, MPB is ready to help.
