When it comes to getting a MBA, you don’t necessarily need one to start a company. A lot of the skills to run and start a business can be learned at any point and all the rules and regulations needed…   Read more»

Your explanation of the transition from LLC to S-Corp to C-Corp is great; it makes a lot of sense, particularly for a business in the medical equipment industry where scalability is important. The potential impact of regulatory constraints on the…   Read more»

I agree that cash flow, which indicates a company’s capacity to continue operating on a daily basis, is frequently more significant than profit. The impact of timing is frequently disregarded, as even successful companies may experience difficulties if cash inflows…   Read more»

For the Biomedical Industry and Medical devices especially, I feel like in a vacuum keeping the company private is the best thing. Being able to invest money from the company into long term projects, as well as provide the best…   Read more»

Although I agree that each ownership structure has advantages, I find it interesting how a company’s innovation strategy and risk tolerance can vary depending on whether it’s private or public. The amount of risk that public firms are prepared to…   Read more»

For the first question, I think we have to be careful only slightly when describing courses to prep for industry. While I personally want to go into industry, I think having courses that prepare a student for industry automatically assumes…   Read more»

In my opinion, your career in a sense starts in college. Although it is not the end all be all, internships/research positions are where your individual experiences start and they are a great place to figure out where your interests…   Read more»

I believe it depends on the person’s background, their interests, and also the depth the course takes. For example, I completed my undergraduate degree in biomedical engineering with a minor in business. I took classes in management, marketing, corporate finance,…   Read more»

I feel it is a cop out again to say it depends on the business, but if I am going to think about from the biomedical perspective, I feel perhaps going through the public domain is better? In my head,…   Read more»

I would say that you do not necessarily need an MBA or a business-related degree to start a business, it could be something just learned purely from experience or just speaking with lots of different entrepreneurs who have their own…   Read more»

I have contemplated trying to acquire an MBA previously before I decided to focus on just what I am going for at the moment. I do believe that a business can be created without needing one; especially considering if the…   Read more»

My previous response was intended for your other discussion on public versus private companies, which I added there. However, I want to add to this discussion about cash flow versus profit. Understanding why cash flow is important can start with…   Read more»

I believe it would be very useful to add an additional business subject to take. The majority of us graduate with knowledge of how to design or construct things, but not necessarily how a business operates or generates revenue. Having…   Read more»

I think starting your career at a large, established company can provide an excellent foundation for long term growth. Big companies often have structured training programs, formal mentorship, and standardized processes that help new engineers transition smoothly from school to…   Read more»

The medical device industry is diverse and compromises of both public and private companies. Privately owned companies benefit from reasons that you mentioned such as faster and more flexible decision making. A private medical device company gives the owners more…   Read more»

If I were to transition from an engineering role, I would likely choose marketing over sales, particularly in an upstream capacity. Marketing allows for a more strategic approach, where I could use my technical background to better understand the product,…   Read more»

Storytelling is a powerful marketing strategy because it helps brands connect with customers on an emotional level and stand out in competitive markets. When done effectively, it allows companies to express their values and create meaningful connections that build long-term…   Read more»

I fully agree that securing a sale represents only a portion of the overall challenge; sustaining long-term relationships with customers is what truly defines a company’s success in competitive markets. Organizations can implement customer retention strategies by emphasizing consistent engagement,…   Read more»

The medical device industry is diverse and compromises of both public and private companies. Privately owned companies benefit from reasons that you mentioned such as faster and more flexible decision making. A private medical device company gives the owners more…   Read more»

I believe an MBA or business related degree can be a major advantage for engineers who want to start a company or move into leadership roles. While technical expertise is essential, running a business involves an entirely different skill set…   Read more»