Healthcare is always changing and you absolutely have to keep up if you’re in the medical device industry. Executive Next Practices hosts their annual healthcare summit soon and this is one way to stay connected with leaders from all facets in the industry. In addition to the event, learn what groups you need to be a part of to get to and stay on top of your game. Got an idea you want to turn into a product? I’m launching a beta program just for you. Stay updated by signing up at imua-services.com/iipp or texting the word “invention” to 44222.
- Scott’s background and Executive Next Practices’ unique history [2:10]
- How he has helped shape the strategy of organizations [4:25]
- How Scott got into the Healthcare business [8:15]
- Info about the upcoming Healthcare summit [10:35]
- Why it’s a good idea to network within your peer industry or function [15:40]
- How executive presence is acquired [19:40]
Scott is a frequent keynote speaker to C-level, association, trade and private conferences. He is President & CEO of the Executive Next Practices Institute (ENP Forums for C-level leaders), a large think tank of top business leaders that meets several times a year in major corporate locations.
The Executive Next Practices Institute is a research, collaboration, and thought leader forum comprised of several thousand C-Level executives and top corporate functional leaders (Board Directors, CEO, COO, CFO, VPs, Sr. Directors).
Text INVENTION to 44222
Company: Executive Next Practices Institute
Recorder: Are you ready to master the waves of medical device product development? Well wax up your surfboard because you are listening to inspired by Imua. Here is your medical device product development expert that Hawaiian hearted hostess who will help you hang ten. Meghan Alonso
Meghan: E komo mai and aloha! You’re listening to inspired by Imua, where we help you master the waves of medical product development. Each week we interview guest that educate, guide and inspire to give you and your product the skills you need to hang ten. If this is your first time listening, Imua is spelled I-M-U-A, it’s a Hawaiian word, it means to advance forward with passion despite rough waves, and there are plenty of those in the medical device development industry, keep listening because we’ve got you covered. So my guest today I’m bringing on is he’s bringing a unique angle to medical device industry, not only is he involved in several events in our industry but he also organizes events all over the country for executives. So it’s great to have his view on what’s going on and what you need to be doing in your career, not only to advance forth but to mentor others to stay engage into hot trends that are coming, not only in medical device industry but in our world as a whole. So please help me welcome, Scott Hamilton. Scott, are you ready to hang ten?
Scott: Well definitely Meghan, good afternoon great to be with you.
Meghan: Alright, thanks for joining us. So I’ll give you a little intro, back up a little bit from that, tell us about your current business Executive Next Practices and also what led you to be a part of that organization and lead that organization?
Scott: Well this organizations got quite a unique history. Executive Next Practice Institute was formed by CEO’s four CEO’s and their teams, to really explore emerging trends. This current eight years ago we were approached by a large number of CEO’s in the community, that said our traditional association are not giving us the information we need in terms of looking forward, uncovering trends that are going to impact us and the other concern was that the pace of market creation and value creation was accelerating and the pace of disruption was accelerating. So you had situations like blockbuster being disrupted by Netflix or Kodak being disrupted by things like instagram and web digital. Since then yellow cab being disrupted by Uber, so we’re concern that things are building fast, that traditional business model was going from a four to five year model to eighteen month model. So how do they stay ahead of the game, that was the origins of the organization itself.
Meghan: What did you do before ENP?
Scott: Well, the same thing still I’m doing, in ideas we have a consulting practice known as Next Work Strategy, it’s a top advisory firm that does local, regional and global work with the middle market, large companies and start-ups and how they can accelerate the success of their strategy. So we do everything from strategy development, to alignment, to execution work with a wide variety of companies and a number of verticals. But particular, we focused in the healthcare space.
Meghan: Okay, give us an example of how someone interface with you or maybe a story of someone you’ve worked with and how you’ve changed that strategy at the organization.
Scott: Well, you know we’ve got so many of them, we work a lot in different vertical and yes, the one that’s probably easiest to relate to would be the restaurant industry, since a lot of people have been associated with that. In the past of our client was Mimie’s Café for example, it’s a good example for how we change the organization and they have got in to a lot as a branch Mimie’s Café. Particularly at lunch time being known as slow and was not being too effective. So they came in and ask us to help them to be more effective, how they deliver lunch and deliver faster and more responsive way for a business audience. So we came in there and did what we call an emerge map, which we created a pictorial of their operation and literally created an experience for all thirty-six hundreds of employees to create a new mind set around of how they deliver the service and as a result of that, all thirty-six hundred employees work quickly for sixty days.
Scott: That’s kind of experience we created for them, experience or training resulted in faster delivery times of the lunch itself, much higher customer satisfaction levels and obviously a positive pop on sales at a time when the restaurant industry was flat or less. So we got a lot of those success stories in healthcare, in technology, in restaurants, in engineering and construction firms. All verticals have really found a great use of this kind of strategic planning, coupled with a way to align themselves to the market and have their employees aligned to the market.
Meghan: Yeah, that’s great! I was fortunate enough to one of the first companies I worked for right after college was Four Seasons and just to be able to experience that level of customer service. It doesn’t matter if they’re a guest, customer, patient, or a client, there are different ways that you can treat people and hopefully you treat people the way that they wanted to be treated and getting that across your entire employee culture is really one of the really good things that Four Seasons does. I’ve carried that with me ever since. I’m glad I had, I’m glad that there’s organizations like yours that really take a look at. Okay business is low; let’s look at how we can do things. Hey let’s tweak the delivery of these services but we need to take the employees tied to that and get them motivated because that’s where it all starts basically.
Scott: Yeah, it really is because a lot of times the strategy of our firm their plans are often kept fairly close to us among the small members of our team. We’ve found that when we can get that interpreted, and communicated the right way it is extremely powerful in terms of enlisting the collective intelligence, and energy and passion of the entire workforce. So this has been our work now for several years. This whole arena of strategy that works and alignment that works for organizations.
Meghan: Good! So how did you get with this? How did you get introduced into the healthcare side of things?
Scott: Well you know, as a part of what we do with Executive Next Practices going back to the forum we host, and again roughly well over 200 of these past forums over the eight past years. As part of those forums and our client work at least once or more a year we host a healthcare summit. In fact we’ve got one coming up this September 30th with the medical device alliance and the sure part of this well. And this will be our 6th annual view of what we call Next Practice Healthcare. So as a result of this we will be able to get a great exposure to both start-ups and established companies in terms of what’s coming next in the healthcare arena. It has not changed in the past eight years on healthcare and that it is constantly changing. It is still in this ambiguous picture. There’s some clarity on some arenas but it is still wrapably evolving picture over all. So it’s been exciting to work again on both on the emerging companies as well as the established companies. Will take in a minute on who’s speaking on September 30th to give you an example.
Meghan: Yeah, so speaking of September 30th, we have a discount code. SO tell our listeners about the discount code on where they can go to register.
Scott: We’ve actually established a code for your listeners and I think that’s basically going to our site the enpinstitute.com the events page that’s Edward Nancy Paul E-N-P institute.com then when they do that, they go to the registration page and then I plug in when I ask for a code they plug in I-M-U-A for a discount that they can get for a 30 and the online rate itself. So they will do that and go to the registration site and then plug in the word IMUA.
Meghan: So now tell us who’s speaking and what exciting things you guys are covering.
Scott: Okay, let’s go into this a little bit. Each time, and this is our 6th annual by the way, each time that we host one of these healthcare summits we are really looking for a 360 perspective. This is not about the affordable care act. There’s some implications from it but this is not a rehash of what’s going on there. This is for the broader perspective about what are the things happening. What are the things emerging the whole healthcare arena? So for example we’ve got the emerging companies like Proove Biosciences, the CEO Brian Meshkin, who’s up for innovator of the year.
Scott: Yeah, he’s innovator of the year for Business Journal he is a nominee. Proove Biosciences uses genetic data to guide positions in better patient outcomes. So such a very unique space and we’ll talk more about that. We have a big company perspective from a mass corporation and it has about 306 employees, and we have their head compensation and benefits and HR to talk about talent in healthcare arena and also the impact of healthcare on large companies’ healthcare management. Then we cover the regulatory side of healthcare with Manuel Mendoza who is a top regulatory expert with USA benefits out of Washington. He is coming back for the third time. He is a tremendous speaker on the regulatory side. Our big picture speaker guy is Raymond Sfeir he’s Director of the Anderson Center for Economic Research and he’ll give us a much bigger perspective on what’s going on with healthcare. And last but surely not the least is from Castlight Health Attendant she’ll about some new apps which help people interpret where the healthcare system is going. So it’s a real world application. So as you can see we are really coming these things from a 360 perspective. It’s done by the way in a very concise two hours as networking before and after the 2 hour program. But the other facet to this ENP forums is it’s highly interactive. It’s not just the speaker but also the audience that really gets involved in the discussion and collaboration about the implications for their own companies and what they can do next.
Meghan: Yeah, so this event is in Ervine and I know you guys have events scattered throughout the country, where if someone is not in the Southern California area and not making on September 30th where else can they catch you guys? Where do you usually host your other meetings?
Scott: Well, we host these meetings in regional centers. So you’re looking at in Southern California obviously we hold them every month. There’s September 30th, October 14th Recurring Revenue Summits December 2nd there’s a Lean In Women’s Leadership Summit. Beyond that also in November 18th and 10th of Florida we have CEOs talking there about innovation there at Amalie Arena in Tampa. In New York October 26th we have a special Global Leadership Summit that will be hosted by the John Kong Graduate School of Business that’s part of Columbia that will be a fascinating look of Global 2020. So if they go to the website they see that it is constantly being added both regionally and nationally and even internationally. We’re hosting events like this where we’re looking at these new trends.
Meghan: Yeah, you told me something once that stuck with me that when going networking and in choosing what to be involved in you always want to be involved something that is in your particular industry. So medical device related events for us obviously but then you also need to be involved with other people that are at your same job level. So if you’re an executive you need to be networking with other executives. That just stuck with me because you know if someone is in medical device and if they’re struggling with someone they can talk to someone maybe they’re in the banking industry, or maybe they’re in restaurant industry, just brings a different expertise or different lands to the problem. It’s a great way to put great heads together and solve problems.
Scott: Well I’m glad you reminded me of that because the organization is deliberately set up. So that when you come into our meetings you got a broad perspective both at how the other verticals are reacting to the external environment but also have different functions or reacting. You’re not just one group of people or one industry. So that’s what made this a paracle. One of the recommendations we have and you’re correct is that as a general practice it’s a good idea to stay network within your own peer industry or function. We also go to this kind of event you’re really going across a pollination of idea coz we have here is a core thing. Whether you are doing healthcare or financial marketing or engineering or some other related industry. The next competitor may come from a completely different field. We’re seeing this constantly, so it’s an idea watching for your blind spot and also looking at some opportunities that may bubble up from different arenas. So the bottom line is coming into this forum will make from anywhere to two to six thousand executives a year from a different representative industries and function.
Meghan: Good, I’m really excited about what’s to come on there. What’s something that’s not in Southern California? Oh, you mention Tampa in November.
Scott: Tampa November and New York coming up in October which will be a big one. Which also included a reception at Hotel AKA in Central Park. So any of your listeners can have one of their teams from those areas attend those events. Again, keep an eye on our website. Again that’s enpinstitute.com the events are constantly added. We also do workshops. For example we have a workshop coming on Customer Centricity; we’ll be talking about that. We will also be talking about those strategy and strategy mapping process. So these workshops again are held around the country and maybe of interest to your listeners.
Meghan: So customer centricity, so having the customer the center of the experience and building the experience about them?
Scott: Yeah, it’s about them, marketing customer experience. But it is also about aligning your entire culture to your external customer and in this case there are eight major dimensions that we look at our customer centricity. And we go through those eight dimensions about how you can assess yourself and get better at all eight because we’ve got a direct correlation, validated correlation between permanent customer centricity and productivity and profitability. In fact it’s a quite a multiple. Again that would be on the workshop this fall.
Meghan: You just reminded me of something else too. See, when I talk to you things stick. You said something one time that made me laugh and it’s true, definitely true. About Bill Clinton, one of those personalities he walks into his room and people notice in the room. You can’t ignore a personality like that. Whether I am not saying it’s him but obviously they know him but I am sure we know people like that they walk into the room and everybody just magnetize by them and being able to build up those skills. So this is a kind of the things I’ve learned from you and I think that other people would benefit from learning too.
Scott: Yeah, I think one of the tricks of about what we call executive presence. It’s really what it is. Being able to acquire that, one of that is acquired by getting to know and getting outside your normal routine and getting outside your normal circle of contacts. It’s interesting in our meetings, we see you’re familiar with Linkedin, you know the connections at first level, second level and third level. We see a lot of people at the third level coming in, none of us know. They’re coming because they’re coming for the content and they’re coming to meet others other their industry. So it’s one of the things we’ve noticed unlike a lot of meetings. We’re seeing a lot of people that are new. New to the area or none of us know that we should know.
Meghan: Yeah, that’s good. So again guys if you want registered to that healthcare summit in Ervine on September 30th, you can visit enpinstitute.com and is there a registration page or just go to the home page?
Scott: Well yeah, just go to the Events homepage and you’ll see all the events and just click on the September 30th. Again ENP, Edward Nancy Paul institute.com events. If you get lost on that, just google the term Executive Next Practices. Our site will come up thousand of times, Executive Next Practices. Again we look forward a lot of people coming in. It’s gonna be full house, over 120 companies will be attending. And again of course we’re doing this in partnership with the Device Alliance and it’s such a great great synergy between the two organizations and great exposure for people in healthcare space and beyond.
Meghan: Well thanks for being in the show today. Guys, don’t forget to check that out and as long as you’re on the website for that event that if you have a new product idea and you want to turn it into a product or maybe you’ve been working on it for a while and you’re just kinda struggling to get to that next step, I have a new program coming out and I’d love some beta testers to join me in that program. So I don’t have an open quite yet but if you text the word INVENTION to the number 44222. Again that’s INVENTION to 44222 that will get you into the interest list and you’ll be the first to get updated when I do open the doors for the beta launch so you can squeeze on that early. Thanks for being in the show today Scott and until next time everyone. Until our next episode, Imua!
Recorder: Mahalo for joining us. If you’re new to riding the waves of medical device product development, or if you’ve been in development for a while already, Inspired by Imua is here to surf with you. Want to be a master of the waves? Text hang ten that’s all one word H-A-N-G-T-E-N to 44222. We’ll send you the most common wipe outs companies make in product development so you can avoid them and reach master wave status. Again, that’s hang ten to 44222. We publish a new episode every Tuesday, so catch us at Inspiredbyimua.com. Imua!