#211: Dr. Roxie Mooney: The Highest Path to Profit is Co-Ideation

OVERVIEW:

Jason A. Duprat, Entrepreneur, Healthcare Practitioner, and Host of the Healthcare Entrepreneur Academy podcast talks with Dr. Roxie Mooney, CEO and Healthcare Commercialization Strategist for Legacy DNA. Roxie is the author of “How Health Innovators Maximize Market Success” and the host of the Health Innovators podcast. She shares advice for entrepreneurs looking to bring innovation to the market. She also offers tips for digital marketing and podcasting, including why every B2B should host a podcast.      

 

EPISODE HIGHLIGHTS:

• Roxie’s great-grandfather was a pharmacist who had three different pharmacies in New Orleans, but she credits her grandmother—who worked as an Avon saleswoman for 27 years—for shaping her entrepreneurial spirit and path. 
• Roxie has a bachelor’s degree in communication, a master’s in leadership, and a doctorate in business administration with a marketing specialization. Her doctorate thesis was on the commercialization of technology and innovation in healthcare.
• She started Legacy DNA in 2010 as a healthcare marketing agency.
• Roxie highlights the advantages of investing in digital marketing/sales channels and the challenges of working virtually.
• 95% of innovations that are brought to market fail to reach an adequate level of customer adoption or financial ROI.
• You must test and validate your business solution. Validate research and customer discovery are mission-critical.
• Roxie dives into the five “co’s” of product co-creation: co-ideation, co-evaluation, co-design, co-test, and co-launch.
• Her doctoral research prepared her for the process of writing her book, and she turned her book into an interactive workbook with digital content.
• Content marketing is important for developing credibility and authority, particularly when you interview influencers. 
• Be customer-obsessed versus product or service obsessed. 
• Podcasts are a way to cultivate relationships and deliver value before selling a product prospective clients may or may not need.
• Roxie talks about the frameworks and resources she developed for early adoption, co-creation, pivoting, and piloting.
• Entrepreneurs tend to get consumed by their businesses. Make time for family and take care of yourselves.

3 KEY POINTS:

1. Test and validate your business idea. Even though a problem may exist, this doesn’t necessarily mean you can build a viable business model. It’s mission-critical to conduct validation research and customer discovery. 
2. A podcast is a trifecta of market research, content marketing, and sales.
3. Roxie’s tips for creating podcast content and staying consistent include hiring a third party to help you get started, finding the right mix of influencer episodes and sales episodes, and forgoing vanity metrics.

TWEETABLE QUOTES:

“At the end of the day, I really do want to help people.” - Dr. Roxie Mooney

“It’s not about volume, it’s about quality.” - Dr. Roxie Mooney

“Consistency is key to be successful.” - Dr. Roxie Mooney

 

RESOURCES:

Legacy DNA: https://www.legacy-dna.com/

How Health Innovators Maximize Market Success by Dr. Roxie Mooney 

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