What can physician entrepreneurs learn from the hottest beer in America?

What can physician entrepreneurs learn from the hottest beer in America?

What is the hottest beer in America? The Athletic Brewing Company.

As described in the Wall Street Journal, when he took out the classified ad that changed everything, Bill Shufelt was desperate.

"He’d quit his job on the trading desk at one of the world’s richest hedge funds to start a business that sounded absolutely nuts: He was going to sell nonalcoholic beer. He didn’t have a product or even a prototype. Or investors. Or any sort of industry experience. And he’d been turned down by hundreds of brewers who basically hung up as soon as he mentioned what kind of beer he wanted to make. Finally, he went to a message board for professional brewers and advertised a job in “the most innovative sector in craft,” which isn’t how anyone else would have described nonalcoholic beer.

Athletic has since become the country’s king of nonalcoholic beers, recently passing Heineken and Budweiser as the No. 1 brand by sales in U.S. grocery stores, according to an analysis of NielsenIQ data by consulting firm Bump Williams."

What are the lessons learned for physician entrepreneurs and innerpreneurs?

1. Innovation and marketing. Everything else is a cost

2. Money matters, Mindset matters more.

3. Know your customers

4. First diagnose. Treat later

5. Discover your innerpreneur

6. Find high profile influencers and investors

7. Pilot to do a little but learn a lot

8. Use aspirational marketing

9. Field test your product

10. Make beer that tastes like beer

11. Find someone who knows how to scale

12. Connect, experiment, observe, question, associate

Sick care cannot be fixed from inside. You will need to rotate on services other than surgery, internal medicine, pediatrics, and psychiatry to identify opportunities and practice lessons learned.

Arlen Meyers, MD, MBA is the President and CEO of the Society of Physician Entrepreneurs on Substack

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