This document discusses physician entrepreneurship and intrapreneurship. It defines key concepts like entrepreneurship, innovation, and value. It explores the entrepreneurial mindset and challenges of being an intrapreneur within an organization. It provides advice on engaging physician intrapreneurs, ensuring their success, and overcoming barriers to innovation. The overall message is that healthcare organizations should foster and support the entrepreneurial spirit in physicians to drive innovation.

1. Arlen Meyers, MD, MBA
President and CEO
Society of Physician Entrepreneurship

2. Definitions and concepts
 Entrepreneurship
 Pursuit of opportunity
 Scarce and uncontrolled resources
 Goal is to create user defined value
 Through the deployment of innovation
 Innerpreneurship: nascent inner entrepreneurial
tendencies and mindset
 Intrapreneurship: Employees acting like entrepreneurs

3. What you should know about innovation
 There is a difference between and idea, an invention,
and improvement and an innovation
 An innovation has both a qualitative and quantitative
component
 Innovation can be in four different categories, 10
different ways
 There are many ways to innovate without creating a
company
 Rules create ecosystems that support or impair
business models that drive innovation

4. What you should know about value
 Value is the difference between user defined tangible and
intangible perceived benefits- tangible and intangible
perceived cost
 Features that are not user defined benefits are costs to the
producer
 Your value proposition is the promise you make to your
customers concerning how you intend to solve their
problem or do the job they are asking you to do.
 On average, it takes a 5x difference in the perceived value
in the mind of the customer to switch from one product to
another. Disruption requires creating many multiples of
that.

5. Types of physician entrepreneurs
 Medical practice owners
 Technopreneurs
 Intrapreneurs
 Service providers
 Social entrepreneurs
 Investors

6. The entrepreneurial mindset
 Personal growth relates to the size of the
challenge, not the size of the kingdom.
 The new direction is the challenge, not the
destination.
 Be an attacker of forces holding people back, not
a defender.

7. The entrepreneurial mindset
 New insights come from a quest for questions, not
a quest for answers.
 Stakeholders must be connected into the new
reality, not convinced.
 Work from the challenge backward, rather than
capability forward.
 “Orbit Shifting Innovation, Narang and Devaiah

8. Is there intrapreneurial engagement?
 Employer, for example:
 How important does senior management think
innovation is to the future of our company?
 Are there clearly defined mandates for innovation?
 What common behaviors do we see around us that
would both support and detract from innovation?
 How do we compare to other innovative organizations?
 How well do we handle external shock?

9. Is there intrapreneurial engagement?
 Employee, for example:
 Business Development Knowledge, Skills and
Attitudes
 Legal and Intellectual Property Knowledge, skills and
attitudes
 Passion for you idea
 Persistence
 Willingness to accept risk

10. Intrapreneurial survivial skills
 Build a power base
 Know when to ask for forgiveness and not permission
 Perfect office politics, negotiation and persuasion
 Find a sponsor
 Watch your back and circle of trust
 Pilot projects. Test a little learn a lot
 Approach projects like strart ups
 Keep score. Measure what’s important
 Have a marketing plan
 Don’t expect recognition, resources or credit

11. Why intrapreneurship is harder?
 Two front war
 Guerilla war, not a frontal assault
 Focus on the new, not the now and threats to vested
interests and the status quo

12. Not new
 There is nothing more difficult to take in hand, more
perilous to conduct, or more uncertain in its success,
than to take the lead in the introduction of a new order
of things. For the reformer has enemies in all those who
profit by the old order, and only lukewarm defenders in
all those who would profit by the new order, this
lukewarmness arising partly from fear of their
adversaries … and partly from the incredulity of
mankind, who do not truly believe in anything new
until they have had actual experience of it.
 — Niccolo Machiavelli

13. Why do intrapreneurs fail?
 Fear or retribution
 Threat to ego and self esteem
 Greed or overreaching
 Killing the cash cow
 No recognition or appreciation
 System issues and the corporate immune system
 Wrong product
 No customers
 Wrong business model

14. Why hire physician intrapreneurs?
 Knowledge technicians are dead
 Need to play nice with others
 Few have an entrepreneurial mindset
 Need to evolve into leaderpreneurs
 Need to overcome the corporate immune system
 Need for strategic alignment
 Need to create user defined value
 They will leave if you don’t satisfy their needs
 You need them to serve as role models and champions

15. What to do with them?
 1. Provide them with the knowledge, resources,
networks, mentors and experiential learning they
need to succeed.
 2. Create a transparent innovation leadership system
 3. Facilitate team building
 4. Set strategy, define the vision and get out of the way
 5. Let them fail without labeling them as "disruptive
physicians"

16. What to do with them?
 6. Be sure they are integrated into your regional innovation
ecosystem
 7. Absolutely, positively, walk the walk. Never promise
something you can't deliver. If you do, you will break the
trust you are trying to create and never regain it.
 8. Be sure you have the structure, process and culture that
fertilizes imaginative physician intrapreneurs
 9. Not everyone is motivated by the same things. Some
want time. Some want money. Some just want revenge,
driven by anger to make things right based on their values.
 10. Think big, but seek and leverage small wins.