Health Innovators
Health Innovators

Episode · 2 years ago

How a big company pivots like a lean start up w/ Sheila Loy

ABOUT THIS EPISODE

When you’re an established, comprehensive company bringing products to market in a vertical industry such as healthcare, there’s a certain amount of expectation that runs alongside your everyday processes. That is, of course, until a pandemic comes knocking on your door.

 

So what happens when an industry hemmed in by HIPAA guidelines and government regulations is given the proverbial green-light to act quickly? They pivot — and they pivot with lightning speed.

 

In this episode, Sheila Loy discusses how HID Global took a proven, tested product and reworked parts of the platform to meet the need for infectious disease tracking that’s necessary not only in today’s COVID-19 economy, but for future disease-specific crises as well. Sheila gives us insights into:

  • The importance of having a strong understanding of your market and how that can help uncover an unmet need
  • Staying on track with expectations in a fast moving pivot when your company has historically long go-to-market procedures
  • How to know when you have a product that is relevant in the current market — and when you need to add to, or scale back, that product to give clients the most useful end-product for their needs
  • Timing and relevance and how they represent half the battle when bringing a product to market
  • Why communication and internal education is key to a successful pivot — when everyone is on the same page, it’s easier to make the necessary adjustments and keep your company’s momentum moving forward

 

 

Guest Bio

Sheila Loy is the Director of Vertical Segmentation of Strategy at HID Global, a worldwide leader in providing trusted security solutions in the identity and access management space. Sheila manages the framework strategies and how HID goes to market as a comprehensive company in a vertical industry such as healthcare.

 

You can reach Sheila at sheila.loy@HIDGlobal.com. You can also visit HID Global’s website to learn about their contact tracing and surge response solutions.

 

Welcome to Coiq, where you learn how health innovators maximize their success. I'm your host, Dr Roxy, founder of Legacy DNA and international bestselling author of how health innovators maximize market success. Through candid conversations with health innovators, earlier, doctors and influencers, you'll learn how to bring your innovation from idea to start ups to market domination. And now let's jump into the latest episode of Coiq. Hello, welcome back to coiq listeners. On today's episode I am speaking with Sheila Loy. She is the director of Vertical segmentation of strategy. So welcome to the show should Sheila. Thank you, thanks for having me. I enjoy being here. Thank you. So, before we get started, just tell our audience a little bit about your background and what you're doing. Sure, hided global powers, the world's trusted identities of people, places and things, and that sounds a little bit like our tech line and it is, but the bottom line is that is what we do. So we provide security solutions and the identity and access management space. We've been around for thirty years, so we're a large company. There's some good, end bad sometimes to a large company of Mature Company, but for the most part it's good. We have a lot of R and D and we've demonstrated recently some new found agility. We we take to market all around the globe. We're in over one hundred countries and people probably most famously know us by your ID badge that you wear, that you tap next to reader that gets you in the door. But we're much, much more than that in regards to identity...

...and access to management solutions. But I do personally at hid global is manage some of the framework strategies and how we go to market as a comprehensive company into a vertical industry, and the vertical industry we're focusing on. And Two thousand and twenty is health care. Well, it's very timely, yeah, out of the beginning of the year, but yeah, we've had a lot on our plate. So one of the things that I was most looking forward to in our conversation today is the opportunity to talk about what it's like for a larger healthcare company to, you know, see an opportunity to innovate and then what that process was like for you and how that might have been different than what you would have done in the past, prior to the new code Dada Economy, right. So we serve the healthcare industry in ways we similarly serve the financial industry, education industry, high tech, manufacturing, etc. Because they're all concerned with the identity being the new security perimeter. So when we work with our healthcare customers specifically, there are a whole lot of identities that you need to manage. Obviously your patients, obviously your staff that has access to secure areas, secured data, your contractors, your researchers and your visitors who come into, you know, a premise. So the solution portfolio that we have in our everyday life addresses tracking and monitoring and provisioning identities of people and things in these kind of not kind of in these pandemic times, we saw on need of tracking people who may have been in contact with an...

...infectious disease and be able to provide some data driven results and reporting to the end user hospital to then mitigate the plan, whether that was a healthcare worker or whether that was a patient. And so we took and put ourselves into a rapid cycle innovation mode and and unlike our normal product launches, this one took one week that's incredible. How did you guys do that? Well, we didn't do it alone. We have the architecture and infrastructure of a real time location services, Iot Services Platform and understanding that that is actively tracking people or things in real time, and hospitals have invested in this four years and years. So that itself is not new, right, when you take an apply it to what's what we're facing in the healthcare in De stree today. We partnered with company also in the industry, prompt dot health, and they they did the software application to specifically monitor patients and healthcare workers in my hot zones, if you will, so that as one of the people in one of those areas reports positive that they have an infectious disease, you can then notify them, notify the people within that contact area and put a mitigation plant place. Yeah, which obviously is really mission critical, right, because everything that we're hearing and we're learning is that this is really the first step, right to being able to mitigate in kind of get a little the pred yeah,...

...right, educate and it's it was an opportunity for us to take what we had, partner with some really smart people and literally put it in a box. So we understand the nature of crisis. Right. Everyone is being taxed, everyone is wearing two or three hats and in some cases the place where we're actually serving the patient is a tent in the parking lot or on a ship or, you know how hotel. And so how can you take some of that hospital infrastructure and move it to that space? So the kit was put together and it really makes the end user able to literally open the box and set this infrastructure up within an hour or two and to begin capturing that data that quickly and using that data to make better decisions. So that's the the context of the Basic Kit itself. Just giving some comparison to a normal product launch. You know, in normal times we have a lot of people involved, we've got market data, we've got gates that we go through, that we test, you know, all of this kind of thing, and it takes a year or it takes months and and I'm not saying that's bad, I'm just saying that's the norm. Right. Yeah, we kind of surprised ourselves with the ability to have a digital presence and educational presence, a partner presence, go to market strategy, all of these things, internal education and communication and, you know, most importantly, a game plan. In a company with disparate business areas going to market on their owns. I think one of the winning elements was a single point of contact, the subject...

...matter expert who is driving the ship, and a game plan across boundaries, so that it was kind of an all hands on deck approach whereby, you know, maybe this wasn't our day job to support this business area, but right now, in these times, this is what we needed to do and this is what we need to do for our common and customer and the dealers that we work with. Our partners came up to the challenge, rose of the challenge, so did the people within the organization. That was really quite a wonderful thing, is it is quite it is absolutely so. I want to kind of go back a little bit to the beginning of this which, again, like you said, is probably just like a week and a half ago. Right. We are on the cusp of this. So who, who was it that decided that we need to come up with something? Was it a customer? Was it a partner? Was it someone within the organization? Was it the innovation product development team, or maybe it was just a collective group but who was it that said, you know, we could possibly pivot and create something that doesn't veer too far from who we are and be able to address a new problem that this world is facing right now. Right I'm going to give credit to a gentleman who runs the Sales Organization for our Iot Services Group. He really is a subject better expert. He knows our extension of partners, he knows the product and he knows our end user, customer based very well, as well as the industry. And when you can take that, you know, when you've been in the industry for twenty some years and you you have all of that data, you can then pull in. Hey, what do you think about? What do you think about? And that includes our own marketing team, our own pet management team, as well as partnerships that we that we have been leveraging and said, you know...

...at times of the essence, which is not how we usually operate. Yeah, can we challenge ourselves to do this? So I will. I don't I'm assuming it's a lot of conversations to your point, Dr Roxy, but I'll give credit to the head of our sales for our Tlis and the one who's been running our healthcare division over there. So, you know, it's interesting. I'm not really surprised because, like, just for the very reason that you just described, is that they are so close to the customer that they are going to have. They're almost like the first line of Defense, right, they see, they're having the conversations with the customers to hear how priorities have changed and needs have evolved, and so it's great for them to be able to report those, those findings, right, even if it's not an official capacity, back up and say, Hey, I think this is a spoken like a true sales leader. Right, I think this is a business opportunity. We truly put up, you know, Opportunity in the backseat, which I also think it's important. We want to be a trusted advisor. We don't want to sell you stuff. Right, your problem and if we can understand the lay of the land and we can therefore rise to the challenge of addressing it in a really simple way, because your mind is busy thinking of other things, right, then it was a win win. Yeah, yeah, absolutely. So let's talk about this Rickett rapid cycle innovation process. You know, what are a couple of things, and you touched on this a little bit. But what are a couple of things that you did differently here then maybe you've done in the past? I think we maybe were a little more lenient on dates, submission, complete review as that type of...

...a thing, just because of the speed at which we needed to get it to the market. I really hearkened it to the federal government and you know, hip hop privacy laws are most important. licensure in the state in which you practice is of most importance to the medical industry in general. This is not an in general situation and lets levate the licensure and the now we have the ability to, you know, far going more head, you know, right across the river from each other. So now nurses, you know, are position, can go back and forth and help each other out right. So I think just taking a queue from that, we lightened up some of those gates, some of those decisions, and I don't think I'll I would ever say it's good enough, because it's actually a package that's more than it's even being promoted as. We took the partner tip a product and didn't it down just to make it this instead gave a couple extra features to the end user, customers, for free for a time period or in that this pandemic. So that's pretty cool. Yeah, they we probably alleviated some of the stress we put on ourselves with the process and the time of the process. Yeah, I think the other thing we did was we we internally educated and communicated with each other and recognize the need for all eyes to be on this project for a week and we just put everything else on, you know, on the shelf for a little bit of time. We built digital assets to support because you have to be able to explain and educate rate your end user audience, your healthcare providers and your dealers who might be supporting them. So we build a website, landing page, all the collateral, a brochure, press releases for information, and then we educated our internal teams to all of...

...this process and collateral and we decided on to go to market strategy which heavily leverages our dealer community and our software partner. Hey, it's Dr Roxy here with a quick break from the conversation. Do you want your innovation to succeed, to change lives, to shape the future of healthcare? I want that for every health innovator, which is why I invented coy Q and evidence based framework to take your innovation from an idea to start up to full market adoption. If you're not sure where you are in the commercialization process, take the free assessment now at Doctor Roxycom. backslash score. Don't miss out on impacting more lives just because you have a low coiq score. The free assessment is at Doctor Roxycom. backslash score. That's Dr Roxiecom. backslash score. And now let's jump back into the conversation. So I think that that it's it's really remarkable on the things that you were doing and I think that. So I want to ask you this question. Do you think that you could apply some of these practices, let's say, like next year, when we're not in a global pandemic? You think that this will change your in Ada time to apply this? Yeah, another solution as we speak. Uh Huh, because I think timing and relevance to the market is really half of your battle of being successful. Yeah, and when you have the customer center city model for your product development and your go to market strategies, when their problems become...

...things you can address in a quick and relevant way because of the Times. And I'll give you another example, we've got all of these temporary nurses and doctors. We've got people sharing and working at different sites. All of these people are being issued credentials to have identities vetted, to be able to move around a secure facility, and that's become kind of messy. Yeah, those are some of our core issueance solutions and how can we get those types of solutions to market and help others solve problems in a very thoughtful way? So I think it's important to take lessons learned, whether right now, this week, to or whether it's next year and say how successful did were we? Yeah, what were the decision points and how can we apply that to some of the other other products in our profolio? Yeah, yeah, and I think what you said is really important, that this is this is not a normal time for any of us, right, and so the government's recognize that and they have loosened some of the regulatory and legislation, legislator compliant compliance issues that or barriers and obstacles that we might face on any given day. And, as you mentioned, you know, a lot of that is put in place to protect the the welfare of human beings, right. So it's not that that's a bad thing, but it's been a overall. A lot of that stuff has been well, like we said, obstacles and barriers to innovation, in adoption of innovation, a lot of the ideas that people have, unlike other industries that don't face some of that, you know, bureaucracy, and so it's really interesting to see how the industry is stepping up in performing,...

...in surpassing their performance in many ways than what we've done previously because we don't have some of those barriers. Yeah, I agree, and I just you know, I don't know if it's patriotic or if it's sentimental, but I love when people come together and they're you know, all the intentions are good and they're healthful and we want to we want to partner in that to the best of our ability. Yeah, yeah, absolutely, Yep, and you know, maybe that's the key ingredient to for successful rapid cycle innovation. Is Maybe common purpose in the urgency behind that. So there's two other things that you kind of touch on that I think is interesting for us to talk about. So one is timing. So very often I'm working with clients and we're talking about their timing strategy and they should. Should they be first to market? Should they be, you know, fast follower, late intrant? And you know, the conversation now is very different. Right. So obviously depends on what kind of business you're in, but for someone like yourself, like the timing is now right. That absolutely I think. You know what, I think they're two answer to that question. If I had, if I had been developing a product over the course of the last year or two and it might be relevant now, but I haven't sold it yet. Yeah, I don't know that this would be the platform I would want to test it. Right. Right, but this the products that we have are tried and true and purchased over and over and use successfully over and over. We kind of downsize them to a bite sized piece that can be understood and deployed and supported simply and created, you know, something very cost effective in this...

...time for people to really get their Roi in the matter of days. Yeah, and and and partner there. So I think because cause the solutions were mature in themselves, we felt very comfortable bringing them to market in a little different way. I'm not so sure if we've got you know, if we would have been as quick to move if this was something that was, you know, under the curtain move right. Yeah, yeah, you know, that's my opinion. Yeah, and that's a really valid point for sure. So, you know, when I think about what you're describing on the product, you know, there's a lot of like classic, are famous examples around pivots. Right, almost every tech company that you can think of is is really the result of a pivot, like facebook, Pinterrist, instagram, all of those. At one point we're faced with some type of do or die moment and they decided to let's do plan B or let's do plant G, and the plant g ended up being like the Eureka that's the right strategy, right, and so it's interesting to hear you say that where, you know most of us, you know, feel like, Oh, if we just put these added features and functionality, it's going to be more impressive, it's going to be more valuable and more impactful before we go to market with it. And it sounds like what you guys did, is what a lot of tech companies do, is strip that down into something that's a little little bit more manageable and Bites eyes and maybe more affordable, and then there you go. A whole nother solution, right? Yeah, exactly. I think that was the thinking behind the the contact tracing and surge response kit. It's a rapid deployment. Yeah, doesn't doesn't mean it's, you know, brand new and untested. It's just been re refought through rekitted in a new, fresh...

...way. Yep, Yep, absolutely. So let's talk about marketing strategy and how you might have pivoted that. So you know, the marketing strategies that we had in place previously aren't necessarily they could be, but they aren't necessarily the exact market strategies that are going to be successful in this new economy. So help us understand what are some of the decisions or changes that are considerations you might have had around your brand, positioning, your messaging or how you were getting in front of folks and creating awareness and demand. I think in you know, some of the things, were not willing to compromise your sacrifice. So all the right executives within our marketing team had eyes on the collateral. We did want to make sure our brand was represented in the way we know it should be. Yeah, in the wording, we wanted to make sure that this is a response kit to infectious diseases, not just the ones we're dealing with today, but really any type of infection spread. Yeah, and I think we we moved it through on a fast track, but I don't think it means we missed checking the boxes, you know, are a brand is important, our customers are important, and our ability to be a trusted advisor to digital identities and digital access and physical spaces and physical access. You know, we kind of span that that spectrum, and so we have a lot of touch points of decision makers within each healthcare organization that we mark it to. Generally, it's it's not unlike any other large organization. We, you know, create a campaign, we create collateral, we, you know, we soft message you on Linkedin and we, you know, try and get some pot leadership. I'm telling all of our secrets right, but but that that's that's proven and and we follow the same things. So,...

...although we were very serious about what an end user or what a channel partner might be reading and understanding and making sure it made sense and that it did meet our brand requirements, I think the difference this time was we really just took it straight to the streets. Yeah, we reached out to our customers who are our partners in crime and they trust us when we say hey, I think this might solve a all them and they'll take the time to review it. So we went directly to our end user customers partners and we went right to our trusted dealer channel partners, who also serve hundreds and thousands of healthcare organizations across the globe, by the way. And so to make sure that we just took a just took a direct and we got one hundred of the dealers that we reached out to on Friday we had hosted webinars on Monday. One hundred percent of the dealers we reached out to on Friday afternoon participated in Monday and said this is exactly what our end users are looking for. Thank you for allowing us to play in the game of being helpful. Yeah, allows your customers to be a hero. Yeah, and and and really to solve a problem. Yeah, and so it was that that bar was kind of cool. So I would I would say we just kind of went direct to the streets and because of the nature of a pandemic and it's you got to move fast and and be agile, and we've already sold some of the products, so I think it mustn't work. I think that's huge. You know, not not everyone goes from, you know, zero and sixty and eight days and then nails it right out of the gate. To be...

...able to have me right now in boxes are just completely cluttered right with emails right. So being able to promote a webinar campaign to anyone the email is a feat in itself. And then to be able to get a hundred percent participation. You know, to me it speaks to the relevancy and the the the product market fit right, and so, you know, to be able to get product market fit right out of the gate, within a two week period of completing the product and then having product market fit is pretty incredible. Yeah, I'm very proud of HIV. You know, I've worked here for fifteen here, so it's a company I love. I love the people, I love everyone's good intentions and it sounds very motherly and matronly, I know, but I'm just very proud of our ability to pivot, as you promote Dr Roxy and really prove to ourselves and to our partners at a variety of levels that we understand we have something that will help you and we're going to make it as easy as we can for you to get your hands on it and begin helping your staff and your patients. So pretty cool. Well, you know, I think that in today's world that we're living in, that there's a lot of there's a lot of tragedy, there's a lot of doom and gloom that's being propagated right and it's not just propagate, propagation, it's, you know, it's a lot of the reality that we're facing right now and I think that for the everyday person like that's, to me, the silver lining and all of this is to know that we still can shape the future of healthcare, we still have a purpose. That gives us at that I would imagine that gives your employees hope and, you know, for a better place and then this sense of purpose because you know that you're making a...

...difference in a way that has real impact. and to me it's like that hope, that purpose, that kind of mission of really, you know, changing the face of healthcare is really powerful and it's like that's what needs to spread faster than the pandemic. Yeah, it's very empowering on any side of that conversation. And you know, happy to have participated my little kindy bit in the whole bad yeah, so social as we wrap up here, there's a lot of people in the audience. So, you know, we have small organizations that are like startups that are, you know, we're just getting started and completely rocked by what's happening, and we've got some larger organizations like yourself, who have been at this for a while. And I think the common thread is everyone is I haven't come across anyone who's not looking at the pivot strategy right whether it's jet with it's the entire business model, whether it's a product or whether it's like our marketing and sales, something has changed because this, you know, coded economy is just very different. What what are some other things that you would want to leave our audience Ur listeners with as we wrap up today? I don't know that it's anything earth shattering, but whether you're a smaller organization or whether you're a large organization, as you address the needs of an end customer, if you keep that end customer in the center of your decisionmaking and if you are focusing on any vertical industry and trying to solve some challenges or partner with people within a specific industry and you communicate and so that everybody is understanding of the common goal and everyone is, you know, regular cadence, you know, pulse, meeting updates, so that...

...everyone remains on the same page. When people remain on the same page and they're in support of each other's efforts, whether it's your day job or whether it's maybe the job that you know your need to just do the next couple weeks here and you do it in a smile on your face, I think that's the biggest positive that will keep your company and rolling forward. That's awesome. Thank you so much. So we folks get ahold of you if they want to buy your services by your kid or if they want to just get ahold of you and ask you some questions. Sure you can reach me, Sheila Dot Lloyd, hid globalcom. It's my email address and I'm trying to just see here if I have a hid globalcom is where you will reach the website. I don't know if I have any other particular landing page data. I can get to that and we can maybe post that. Awesome well, thank you so much for being a guest today. Thank you. I appreciate it very much. Enjoy the rest of your day. Thank you so much for listening. I know you're busy working to bring your life changing innovation to market and I value your time and your attention. To save time and get the latest episodes on your mobile device, automatically subscribe to the show on your favorite podcast APP like apple podcast, spotify and stitcher. Thank you for listening and I appreciate everyone who's been sharing the show with friends and colleagues. See You on the next episode of Coiq.

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