From Founder & CEO of Dr. Noze Best to Brussel Sprout Farming

In this episode, pediatric otolaryngologist Dr. Steve Goudy and our host Dr. Eric Gantwerker discuss Dr. Goudy’s journey of creating Dr. Noze Best, a direct to consumer pediatric nasal suction device. Dr. Goudy recounts his motivation behind developing this device - years of seeing his patients and his own children suffer from nasal congestion, without any sophisticated way to find relief.

The doctors speak about innovating while employed by academic institutions. This presents both opportunities, in terms of having access to resources and diverse expertise, but also challenges when dealing with intellectual property rights and negotiating tech transfers.
Dr. Goudy explains the steps that he took to obtain a tech transfer from his institution.

Dr. Goudy offers specific advice on building a direct to consumer product. He recommends conducting focus groups throughout the product development process in order to capture consumers’ feedback and adjust the product accordingly. Also, he tells entrepreneurs to collaborate with engineers to ensure that the product actually meets consumers’ needs and offers significantly more benefit than other alternatives on the market. Finally, he emphasizes the importance of choosing a manufacturing site that can produce the units efficiently.

At the end of this episode, the doctors comment on the larger world of physician-entrepreneurs, noting that this hybrid career path has become increasingly common. They discuss things that physicians should take into consideration when deciding whether or not to pursue an MBA and ways to juggle different career and entrepreneurial pursuits.