5 Reasons Entrepreneurs Should Seek To Innovate In The Medical Industry.

We all know that Edison had that line about discovering 1,000 ways not to make a lightbulb.

And sure, it ignites an old American romanticism in all of us. A desire to make a discovery so huge, so innovative, that in a few decades no one would remember what it was like before.

But what could that innovation be?

Well, ask yourself, what’s an area of life where people have almost universal frustration?

Any big innovation can only happen when there’s a serious issue that needs to be addressed.

There are a few areas like this. But almost none of them loom as large as the issues within the medical industry.There’s probably thousands, but here’s five reasons why entrepreneurs should seek to innovate the medical industry.

There’s still so much work to do

True, we’ve come a really long way. There is almost no field in which so much progress has happened in so little time.

But this is just the beginning.

Whether it’s the financial side of the medical industry, or the boots-on-ground frontline staff, there’s still plenty of improvements to be made. And not only are their improvements to be made, but…

People are aware of the problems in the industry

It’s not enough to have a problem to solve. To be a successful entrepreneur, you also have to be able to find issues that are widely understood to be issues.

For example, there may have been supply-chain issues before the pandemic. But before the pandemic, no one even knew what a supply chain was. Now that there is widespread awareness, entrepreneurs can really begin to do their best work. You have to have an issue as well as widespread awareness of that issue.

The medical industry, on the other hand, is an area that people have widely known about for a long while.

So this is the perfect moment for an entrepreneur to begin thinking about how to revolutionize the industry.

An entrepreneur has the chance to make a bi-partisan change

One of the difficult things about making changes in the medical industry is that the medical world is a hotbed of political landmines. Politicians especially are only ever one bad word choice away from becoming an object of hate from the other side of the aisle.

Entrepreneurs have an advantage here. Their solutions are almost always unorthodox, unexpected, or outside the box that they do not fall within the ordinary political categories. Entrepreneurs do their best work when their solutions are apolitical. And apolitical solutions are the kinds of solutions that anyone can get behind.

It could make you the big bucks

A good idea is worth a lot of money. There. We said it.

But why wouldn’t it be? How much would you be willing to pay for someone to have invented a lightbulb in a world of oil lamps? Entrepreneurs make money because they solve problems that everyone wants solved.

It could change the world

Once more, back to the lightbulb. Imagine how that changed the world. Or needles, or the steam engine, or the internet, or any other invention that we take for granted.

An invention of that magnitude could still be waiting. And it could be waiting for you.