Lessons from a Shark at SHSMD 2015

by Jason Skinner, Chief Marketing Officer - 12/02/15

Among many other colorful people and compelling perspectives on display at this year's Society for Healthcare Strategy and Market Development Conference, serial entrepreneur and Shark Tank personality Kevin O'Leary wowed the crowd with his 10 keys to success in business.

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  1. Articulate your idea in 90 seconds or less. The more clearly and succinctly you communicate, the more effective you will be in getting your point across.
  2. Hire the right team. Don't rush to fill a position as it takes excellence in every area to execute well.
  3. Know your numbers. Understanding key metrics like gross margin, contribution margin, and others is critical to gain credibility and inspire confidence.
  4. Delegate. Leadership means knowing where to focus your limited time and energy.
  5. Don't procrastinate. Successful people feel a sense of urgency to get things done.
  6. Never pass the buck. Leadership comes with accountability. 
  7. Service trumps price. Excellent service creates competitive advantage; selling on price isn't sustainable.
  8. Life is not fair. Things don't always go your way; learn to accept things you can't control and move on.
  9. The boss does not always make the most money. O'Leary said salespeople have the highest salaries in his organization as they drive revenue into the business.
  10. Profit is the top priority. Giving back to the community and other social causes can't happen without achieving margin.

Want more SHSMD 2015 takeaways? Check out our Top 10 Industry Impressions and Q&A with SHSMD President-Elect Ruth Pordilla Portacci.

Topics: Healthcare Insight Magazine

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