Adam Torres and Joseph Mcginley discuss innovations in orthopedic surgery.
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Show Notes:
Innovation in orthopedic surgery is at the core of McGinley Orthopedic Innovations. In this episode, Adam Torres interviewed Joseph McGinley, MD PhD, Founder & CEO of McGinley Orthopedic Innovations. Explore how Joseph uses innovation to promote patient care. They also explore Joseph’s recent book release, Mission Matters: World’s Leading Entrepreneurs Reveal Their Top Tips To Success (Business Leaders Vol. 8, Edition 8).
Watch Full Interview:
About Joseph McGinley
Dr. McGinley is a speaker and presenter for numerous areas of expertise. He presents on entrepreneur topics, sports medicine interventional & imaging medical topics, medical devices, start-up business and investment. He is a practicing Musculoskeletal Intervention & Sports Medicine Physician at The McGinley Clinic. His clinic offers a physician shadowing program. He is the CEO of McGinley Orthopedics & McGinley Manufacturing which offers in house engineering and manufacturing services.
About McGinley Orthopedics
McGinley Innovations encompasses five companies: a medical device design, a medical clinic, manufacturing company, physician education company and a downtown real estate company.
McGinley Orthopedics is a medical device company whose products increase patient safety while reducing costs. Its flagship product is the IntelliSense HandHeld Robotics which is used in OR across the globe.
The McGinley Clinic is a patient centered, complete orthopedic care medical clinic. Dr. Joseph McGinley uses the latest technologies and innovative procedures to treat his patients with a minimally invasive approach. The McGinley Clinic focuses on sports related injuries and MSK issues.
McGinley Education is a physician education company bringing the latest in MSK ultrasound education to physicians around the world. And finally, McGinley Manufacturing is a precise instrument machine shop that creates parts for the medical device, oil and gas, mining, motorsports and construction industries.
Full Unedited Transcript
Hey, I’d like to welcome you to another episode of Mission Matters. My name is Adam Torres, and if you’d like to apply to be a guest in the show, just head on over to mission matters.com and click on Be Our Guest to Apply All Ride. So today is a very, Special episode we brought Dr. Joseph McGinley back on the show.
He is the founder and c e o of McGinley Orthopedic Innovations. And for those of you who didn’t catch maybe the previous episodes myself and Dr. McGinley did we’ve been working on this book and I’m proud to announce that the book is finally live and out there. And first off Dr. McGinley just wanna say welcome back to the.
Adam, it’s great to be back on again. It seems like it’s been forever, but really not that long ago. We had our first conversation. So excited to, to join the show again today and discuss volume eight and see where we’re at with our updates. All right. So coup some other big, big news that’s taken place.
And I think, I think we might even be ahead of the press release on this one, but just started working with Vizient, which is one of the or the nation’s. One of the nation’s largest driven member driven healthcare improvement companies. Did I get that right? I wanna make sure I have it right.
Vizient? Yeah, Vizient that’s exactly right. We just signed an innovative technology contract just last week. So the press release will be going out this week. We’re really excited to partner with Vizient and all of its members and, and what Vizient is, is essentially is a large group purchasing organization.
So they negotiate contracts uh, for hospitals to get them the best pricing on product. And then they work with companies to get the best and most innovative products to these, to their member hospital and healthcare facilities. So we’re excited. I mean, this is big news for us. It’s great. And you’re hearing it first right here, Adam, right on your show, AHMA.
That’s what I like to hear. And I, and I have some follow up questions on this cause I think this is really big news and I wanna talk about what that means. I know in some of our previous conversations we’ve had. You know, when it talks about taking, you know, a, a new product to market, what that means, and I know this is big, big news, so congrats on, on the news with Vizient, but we will backtrack a little bit and we’ll, we’ll start this episode the way that we start them all with our mission matters minute.
So, Dr. Joseph we at Mission Matters, we amplify stories for entrepreneurs, executives and experts. That’s our mission. What mission matters to you? Yeah. Our mission is to develop innovative products in healthcare, specifically orthopedics that protect patients, reduce costs, and innovate upon technologies that are already out there on the market.
So this is a great platform and, and we are happy to be here. All right. So let’s just, let’s start by maybe diving into your background a little bit. I don’t want to assume that all of our new listeners and our, our new viewers caught maybe some of the previous work that we’ve done together. So maybe just talk a little bit more about your background and really what you’re doing.
Innovation. Yeah. You know, again, a lot of my passion, a lot of what I’m doing as a C E O of McGinley orthopedics originates from my training in education and engineering. So I have a bachelor master’s degree in mechanical engineering. I then went on and did an MD PhD and I have a clinical practice, still an innovative sports medicine and interventional orthopedic practice.
And when I’m seeing patients, when I’m developing products I always try to apply engineering concepts and principles to create. Solution, possible individualized for each patient on the product side we wanna take these ideas, we wanna take these healthcare improvements and get them out there really to, to everyone.
So that’s my educational background. You know we’ll get into this a little bit later, but some of my side activities, I do adventure racing. I, I climb mountains, I do mountaineering. Used to raise motocross for many years. Uh, No broken bones, so my products wouldn’t have been relevant during my racing career, but I try to stay.
If I try to stay healthy, I try to stay athletic as well. It keeps me, you know, on the front edge of innovation. It keeps me motivated and, and keeps me in tune with my patience that I’m seeing. Yeah, it’s awesome. Well, let’s let, without further ado let’s dive into this book. So what you presented three pillars of innovation assembling your team fully understanding the problem engage others to be involved.
What was the, a lot of things you could have written about? I mean, I, I know your background. What was the inspiration. Yeah. You know, I think with entrepreneurs when you have an idea, when you have a when you identify a problem and think you have a solution, it’s very easy to get sort of distracted by that excitement and that passion and say, this is gonna be a blockbuster and I can do this all myself and it’s gonna happen overnight.
But you have, you still have to be meticulous. Yes. Great ideas are wonder. The starting point. But you can’t do it yourself. You, you know, you’re not an expert in all these areas. And in this book chapter we focus on, you know, essentially what are the basic building blocks. And, you know, the definition of each of these may vary from CEO to CEO and, and product, product.
But in general, you wanna make sure you have a solid team to help support your efforts. You’re not an X, no matter how smart you are. You’re not an expert in everything, and making sure that you have that expertise to guide you and then also to get feedback again constructive feedback is helpful. And then you have to clearly identify the problem, make sure it hasn’t already been solved, make sure that you fully understand the nuances, the pros and cons of that problem.
And then you wanna engage others in that excitement, whether it’s investors, whether it’s your, your employees whether it’s board members whether it’s hospital facilities you want them to feel that passion and to get them involved to help be part of that solution. . Yeah. What is what is the team in assembling the team?
Maybe you could give us a little bit of the thought process that went into what it took for you to build McGinley orthopedic Innovations. Like what did assembling the team mean in that scenario? . Yeah. Well, I’m still assembling the team and I’m still learning on a daily basis. But, you know, the starting and there we’re
yeah. You never start once you feel like you’ve you’ve got it all figured out. That’s probably a mistake at that point. You know, you can always learn from others, learn from experience from others. But, you know, when I first started, you know, my background was engineering, so. The problem solving, the, the design part of it, I, I felt fairly comfortable with.
I had my my medical degree, so I was comfortable on the medical side and the medical problem. But what I was lacking, and it was fairly obvious, was a background in business. So, First thing I did when on assembling a team was look to see who could advise me and help me develop a business plan, help develop that business strategy.
For me. I ended up contracting with a third party, an individual named David Kaplan on the East coast. Was a instructor at Harvard. He helped me craft my idea and I learned so much from those early conversations, but that was the first part of it. Adam Johnson, who’s our currently our vice President of engineering he was a, a key component to get me started.
He’s the one that motivated me, actually, that formed the company to begin with, and he came at the perspective of saying, Hey, you have a good idea. You gotta stick with it. You gotta get this going. We can make this happen right here in Wyoming. And he, he really latched onto the passion of it. And we wouldn’t be here today, you know, without Adam’s motivation in getting me going.
Those are just two individuals. I mean, you know, we have hundreds at this point that have helped me along the way, including our investors. I, you know, I communicate with them routinely and, and lean on their expertise. So the team’s always grown. The team’s always changing, but making sure that you as a, as a ceo, as an individual, identify your weak points, and then getting the advice and direction that you need to make sure you’re success.
Yeah. It, it, I, I love the advice that you say like, we’re, we’re all, we’re all learning together, we’re all still growing. When I think about the idea of assembling the team, like it just doesn’t end. To me. It seems like, you know, every bit of revenue, every bit, every problem, every solution, every new component.
As you get bigger and bigger. like you, you find these holes and when you’re, when you’re trying to plug ’em or you’re trying to, you know, figure out how to build a better base and to go up further and to increase, you know, market penetration for your idea, like the every team member, they just matter.
They matter more and more. So when they think about like where you’re at, and I think about even what you’re doing now with, with, with Vizient and all these other things. I’m excited to see how this continues to grow. It’s so, I, Adam. And even these type of conversations I’m learning from you know, communication, right?
We’re communicating with individuals that, you know, I don’t even know on the other end of this broadcast our conversations, you and I speaking that’s helpful. I, I learn from those conversations. So you can never have a bad opportunity to learn. Learning is constant and anytime you get a chance to, to go to a meeting, to go to a a community event to just speak with others who have been successful.
It, it’s only gonna help. It may reinforce what you’re already doing but you know, one of the key points is you don’t know what you don’t know. Mm-hmm. . And the only way you figure that out is, is being around others who have, have been successful already. Yeah, let’s go. Let’s go to the, you know, the early days and I do like using kind of using your company.
It’s kind of the case study for the discussion. Cause I think it’s just, it just brings it down to ground level and makes it very tangible for people. So when we think about understanding the problem and, and what else, what, what fully understanding the problem. You also wrote about that. What was maybe some of the problems or the things that you were trying to solve in the, in the early days of the.
Yeah. You know, a as we chatted about last time, our, our company is the stereotype for entrepreneur, right? So we had a napkin sketch. Our, our company started as a napkin sketch myself, Dr. Scott, go, and Scott Porter, our co-founders. We were at a, a, a dinner meeting and we just were talking about an a patient that had an adverse outcome.
And in this particular case, as this young 16 year old girl she broke her wrist ended up getting a plate put on her wrist. It’s that fracture and one of the screws was too long, and that may seem like, okay, well what does that really relate to? But that long screw ended up she, it was every time she moved her finger, the tendon was rubbing on that screw.
She ended up tearing her tendon and had to go back in for a repeat surgery. So that was the start of it. And then we said right there, we said, okay, how did that problem occur? Is that, that’s, you know, a risk of a surgery, but why did it occur? How can we fix it? So then we dove into the problem in detail to try to understand the.
look at what other people have done in the past and what we sketched on a napkin that night is still the basis of our technology today. And, and we ended up getting a patent. I mean, we’re up to 127 patents at this point. But that was the start of it. And it was that excitement, that passion and an analysis of the problem.
You know, obviously we dug deeper from there, but we, we tried to vet as much as we could in that conversation. Sketching out that initial. . Yeah. Talk to me about the, about the digging deeper part of things. Cause I feel like, you know, when you first saw the problem, that was kind of the, the surface level of, and obviously everybody that was, you know, working on this there, they, they, they understood it from the standpoint of backgrounds and otherwise, but I feel like that’s still like the, it sounds like a good.
Stage. Like, did you, you didn’t, did you know immediately, and maybe I’m asking you, did you know immediately at that point like, oh, okay, this has, this has legs, like we can do this? Or, or was it more so in that like digging deeper face? Yeah, the, the due diligence. The validation part. That’s not the fun part.
yes. That’s the part that matters though. , you know, the dinner conversation one where you’re sketching it out. That’s the excitement cuz you know, that’s with all of us, we’re. This is the best idea ever. You know, this is, this is gonna work. Has anybody done it? Right? ? Yeah. But then, then, you know, after that, once you say, okay, I think we have a good idea, that’s, that’s really where the work comes in.
Because now mm-hmm. , you have to try to put that bias aside. You have to put that passion aside a little bit, and then take a critical approach to it. So what we did it first was just at a patent search and look to see if there were any other patents out there. We did, you know, just a basic internet search to see if there were any other companies that had products like this out there.
So that, that’s easy, that that doesn’t take long to do. But that’s critical because you don’t wanna spend a lot of the time or money and then find out six months later that this similar product has been developed, you know, 10 years ago. So that diligence is important. It’s to make, it’s to make sure that you.
You have a self-check place that you’re putting that personal excitement aside and saying, okay, is this a real thing? Is this a real the real deal? And then from there, you wanna survey the market. So you might think it’s great and your colleagues might think it’s great, but again, you have bias. So you want to put a simple survey together and then just survey some of the potential users of the product and say, what do you think about this?
What you know, is this a good. , you wanna have protections in place. You don’t wanna disclose the whole thing unless you have a patent pending. But again, you wanna survey that market and make sure this idea has legs as well. That’s where the work comes into it. Again, all joking aside, that that really makes the difference of you not wasting your time and money and making sure that you have the right idea before you move forward.
Yeah. When you were going through that process, did did anything surprise you? Like when you were kind of looking under r, seeing what’s out there, seeing what’s, you know, possible and doing the due diligence side? Did, did, was there anything that you, did any aha moments or did anything surprise you in that process?
I, I mean, honestly, what surprised us the most is that no one had thought of this before because, you know, once we, it seemed like a simple idea and sometimes the, the simple ideas are the ones that are the most effective. And, you know, even since then we’ve had a, a couple individuals that have invested in our companies and before they invested, they said, do you, do you mind my friends at patent attorney, do you mind if he takes a look at this?
Cuz they’re thinking the same thing. This sounds too good to be. And you know, in one of the cases the patent attorney actually invested in our company as well, . And he called me and said, I can’t believe no one else had thought of this or patented it. He said, I was sure I was gonna find some other IP out there.
But that’s not the case. I, I think that’s probably s to this day I is the most surprising thing. Cause when you talk about the problem, it just makes sense and it’s fairly obvious. But again, sometimes when things are, are that much in front of our face, we don’t actually recognize the. . Mm. And that’s, that’s so interesting to me because it, it lets people know that are out there that are, like, if you had that idea and you were thinking to yourself, ah, somebody else has probably already thought about it, or, oh, there’s already a patent.
And I’m not saying you’re gonna win every time, but sometimes you go down the rabbit hole and, and nobody else actually had thought of it. Right. This is an example, . That’s correct. And it, and it doesn’t take much time or effort to check, right. I mean, just in a few hours. You can do a, a search on the internet and, and search the patent office.
So you can get a pretty quick yes or no answer in a general sense you know, within just a few hours of your own personal time. . Yeah. So engaging others to be involved. Ano another topic that you wrote about, and I feel like there’s just so many, you know, ways and angles to, to handle that question, whether it be internally, what from your teams, whether it be, you know, externally and what you’re really, what you’re doing in the invest.
Side by bringing a, you know, wall Street quality level of investment to Main Street so that, you know, every day people can also invest in, in the idea And in the i p talk to me a little bit more about what it means to engage and pull in others. Yeah, that, that’s I mean that’s a wide topic range.
Engaging others is, is really can go on on multiple levels, but you wanna make sure that you can communicate and share that excitement, share that passion. The more people that care, the more people that say yes is a good idea, this can make a difference. The, the more successful you’re gonna be, and you don’t have to do it on your own.
You know, we started with our team members, with our consultants, and then, you know, we moved on to getting employees and making sure that they’re engaged in the process. Consultant surgeons, a again, you know, as physicians, you know, we’re, we’re trained to take care of patients and make a difference in their lives.
We can only typically do that one at a time as we see them or do procedures on them, but with ideas like this where, you know, they can be globalized, you can take care of tens of thousands of patients in a single day. Single idea. So that, that really resonates a lot with physicians and healthcare facilities and, and other individuals involved in healthcare.
But to take that further, again, you know, we’ve shown our innovation in products with all of our patents and technology development. We’re taking that a step further. We’re taking that engagement. We got to the point where we, we had f D a cleared products. We needed to ramp up. We needed to. Out there to penetrate the market.
Options are limited at that point. Traditionally what you would do is go to private equity or investment bankers, and that’s where you would secure your funding. There’s, there’s trade offs with that. Typically management control, large portions of the company, you’d have to give up and it may change the personality of the company.
But more recently, as some of your viewers may be aware, on the jobs act, you know, about eight, 10 years. They made some changes of how you can recruit investment, and one of those is called regulation a Plus. And with regulation A plus, we can now take these ideas. We’re still a privately held company, but we can publicly solicit and publicly raise funds.
You can be an accredited, non-accredited investor. Right now our minimum investments just $100 to, to buy shares. You know, we’re SCC registered, these are actual shares in the company, but for us, yeah, we see these individual. Team members, they, that’s part of that engagement. These individuals are not only investing, but then they become part of that solution.
They become part of our team, and then they can spread the word on what we’re doing and why it’s important. . Yeah. And I want to, we’ll, we’ll circle back to the investment side of things cause I have some questions on that, but I wanna, I wanted to I wanna stick on the point of kind of like the team a little bit longer because and just internally and how you’re keeping everyone engaged.
Cuz I find it’s interesting as, as now you mentioned, you know, over a hundred patents and, and as, as the company grows, as the vision grows how do you find, you keep, you keep the team aligned and kind of heading in the right direct. Same direction and in the right direction. Even though, you know, as the company gets bigger, as the complexity gets bigger, as, you know, over time products will change, things will change.
Right. How do you, how do you keep everybody moving in the same direction? . Yeah. You know, I, I think just keep relating back to that message is to focus on patients, right? So we’re a company that, that’s focused on patient safety, patient care, and creating products to improve patients lives. So just reminding people that, that, you know, your day-to-day work may seem mundane or you may seem, you know, like uh, what, what’s the purpose of this?
But yeah. When we have our team meetings, when we have, you know, our investor meeting, We remind everyone, and specifically with patient stories, I mean, you can’t tell it better than a patient that had an adverse outcome. And you know, we, we have a, a patient testimonial on our website from a patient that, you know, went through a traditional orthopedic surgery and they placed a screw that was too long.
They didn’t realize it. She suffered for over a year. Had to be outta work everything else. Once we identified the problem, got that hard. You know, she was back to her normal life, literally within weeks. So, wow. You know, those type of stories are just so powerful. And, you know, when we go down and meet, you know, with our manufacturing team you know, again, they’re making small parts for these products and it might, you know, you might sort of lose per.
Perspective on what you’re doing. But I remind ’em, I said, this is common orthopedics. I said, any one of you could be on the other end of these products at any point in time. It could be a family member, it could be your mom, your sister, your kid. So just keep that in mind. If, if they were, if they were on that operating room table what.
Type of technology or products would you want that surgeon to be using to make sure that they had the best outcome for your loved one? Mm-hmm. . So just creating that personal touch and making sure that people realize that this is not only a business, but really we’re out there to focus on changing and helping patients improve their lives.
I wanna spend some time on on Vizient. So we, we did start the conversation, talking a little bit about it, but I do wanna go further. So, nation’s largest member-driven healthcare improvement company me means you’re now that McGinley orthopedic Innovations has access to a large, large platform, lot of eyeballs and access to more healthcare systems.
Am I off on this? Like, tell me. Yeah, we’re we’re excited again. We’re just getting started. Literally, this is breaking news for our company. We’re excited to partner with Vizient and, and be part of this innovative technology program. So what, what this does, you know, Vizient essentially negotiates pricing on, on products and making sure that their members receive the best pricing on products, but not only that, that they have access to, to some of the best and latest technology that are best for their patients and patient care.
So for us, once you’re on that contract and, and you’re working with these. Facilities they have that sense of security and that and that sense of, okay, this has already been. And it’s been looked at and, and Vizient has us now on contract, it’s gonna remove a lot of those administrative burdens that we’d previously discussed.
So, as a startup company, even if you have the best idea, best product in the world, you still have to navigate the system. And not everyone will share that passion or idea. And you have to work through that system to make sure that you know, number one, you’re listed as a vendor that the surgeon supports the product, that it goes through a value committee.
You know, it offers a value and that the pricing’s correct for the hospital being part of Vizient with the IntelliSense drill that will help us navigate that process a lot more smoothly. Because again you know, the prices have already been negotiated. They’re fixed. They’re the lowest prices available.
So the hospitals know that, and the hospitals are aware that these are the prices. So that helps us greatly. And then from an administrative standpoint, you know, they, they can just order the product now. So it removes a lot of that burden that we used to have to fight for as a company to prove that this was a valuable product and that the pricing was correct.
So we’re, we’re excited. Hopefully, you know, you, and I’ll be chatting again in a few months and then I can relay the success story of this. But this is, you know, this is day one essentially as far as where we’re at with it. And the potential is just incredible for us. Oh, that, that is exciting.
I’ve been watching this story for a long time, so congrats. I know that wasn’t easy, and I know that’s just the, the next rung into getting this, into getting really to, to the better patient care that you’re, that you’re aiming for. So I completely understand this. So Adam, on that topic again, just as a side note, as far as how things go you know, it took us a while to get on this contract and get that contract.
We had to travel down and present our products at their technology meeting summit. It gets reviewed by committee members and, you know, just to show the things, even the simplest things aren’t easy. Myself and our VP of engineering were traveling down for this meeting. And there were mechanical issues on the flight that we were, that we were leaving from.
We literally were struggling, like on the phone, trying to get different flights and connections so we wouldn’t miss this meeting. So those are the little things, the details that you know, don’t, you, you don’t always see, but are important. But even air travel can, can throw a wrench in things.
Ultimately we got down there and got it presented and got on contract. But even that part of it’s not, not straightforward. , oh man. That, that’s life. Why, why do we sign up for this entrepreneur side of it, right? , just random . That is the adventure . So you’ve been busy. You also since, since we last spoken the A A O S instructional course textbook.
So now what I find really interesting about your journey, and I’ve, you know, a lot of, a lot of entrepreneurs, a lot of innovators that I’ve followed throughout the years through not just this show, but just through in my career as well. And I noticed that, you know, every rung or every time they hit a new level, and I don’t mean.
Revenue or success. I just, I mean, new level of really just trying to give back and, and of being, of value. And so what I find many times is as they hit new levels, they hit new levels, then what happens is what they’ve been doing has been working, or, or you know, they’ve, they’ve, they’ve then been able to achieve certain things.
So then they feel, and they don’t have to. They, they feel the need to and they want to help others along the way that are maybe have some of their same passion or some of their same dreams. So you you recently published work and as I mentioned, the A a O S instructional course textbook and the, and the subject matter was, Raising capital for orthopedic startups.
Who better to, to ask than Dr. Joseph McGinley about that. Who’s done it himself, is doing it in the middle of doing it and is growing a big company from it. So what was the inspiration for this? Like, like what led you to want to, you know, give back in this manner? Well, I mean, I love giving, I love participating and giving back all the time.
I mean, I have students medical students, interns fellows that’ll come out and train with me and, and I learn from them. Again, we talked about the team earlier. You, you learn from everyone. And my, my passion has always been education and, and helping others to improve what they’re doing. For this one in particular, I was actually invited to, to presented a a o S last year, which is the largest.
Orthopedic meeting worldwide. And what’s interesting about that is my, my background’s musculoskeletal radiology. I’m technically not an orthopedic surgeon. I do intervention orthopedics through a radiology perspective. So orthopedics and radiology are, you know, not always easily mixed. You know, like oil and water
So to be invited was, was an honor and a privilege to, to go to this meeting and to be able to present on how you fund an orthopedic starter company. So we, we did the presentation and then our group was asked to put together a, a book chapter for the instructional course series for a a O S. So we worked on that.
We’ve been working on it for the past year and that, that was recently published a few weeks ago. And the topic was funding of orthopedic startup companies. The way, again, the way we did it, maybe this is because again, you don’t know what you don’t know, . So I looked at it and said, what’s what makes sense?
Which, you know, people same simple, but that’s not al that question is not always asked. I said, what makes sense? What’s the best way to fund the company and how you do it? And that’s how we did it. We didn’t know if it was the right or wrong one. And, and we learned as we went. But for us, it worked out exceptionally well.
And what we figured out in the end is how we did, it’s fairly unique and still unique how we’re, how we’re raising funds and lots of people are watching to see if we end up being successful. I mean, we’re not, it may seem like, you know, we’ve had a lot of accomplishments, but we’re not finished yet. Mm-hmm.
we’re, we’re still in the thick of things. So I think a lot of people, a lot of groups are watching to see if this model can be successful and, and if we are that success story. Exciting to be part, but yeah, you do have sleepless nights, as you mentioned. It’s, it’s not always easy. So just another one of those things that, that help us move along and, and.
Provide information back to others who might be motivated at an early stage. Yeah, and one of the things I like is that in, in my opinion, like it’s gonna inspire others. Like from one of our, our earliest conversations. I don’t know if you remember, but I remember asking you a question. Basic and, and kind of like, you know, leading into men.
There’s many like highly skilled professions out there that, you know, lot, lot of years of school, whether it’s surgeon, you know, lawyer, lot of different, like, like let’s just say careers where you have a really. Specific path. And in my opinion, there’s always this additional knowledge. And for some, there’s an idea that they have or something else they wanna do, but maybe they, they don’t do it or they can’t do it, or they feel they can’t do it cuz right, they’re, they’re a doctor and they shouldn’t be doing this.
That’s for entrepreneurs or that’s for somebody else to do. So maybe this, this instruction, I hope for those that you know, Sumit, this will inspire them and maybe give them just that little bit of additional confidence to say, huh, maybe, maybe I can do this too, right? Like maybe I, maybe my idea can go further.
Let, let, let me try as well. . Yeah. I, I mean, no one’s gonna be more passionate than the individual with the idea. So, you know, you have to have that appetite, you have to have that passion. Nothing’s easy. Even the best idea in the world is not easy. But it’s fun. It’s, it’s if, if that’s what you thrive on, doesn’t matter what your background is, we, we can all be entrepreneurs.
We can all be successful. As long as you take that idea, make sure that you’re dedicated to it, and make sure that you do d. Along the way. It may not al well, actually, most, a lot of times it doesn’t work out. But you still learn from those. And we talked about that even in the book chapter, is failure’s not always a bad thing.
As long as you learn and improve from that, your next idea might be 10 times better. Once you learn from those mistakes, from those failures circling back, I, I told you I would to the to the raising money part and what you’re currently doing. Maybe, maybe talk to us a little bit more about, about the, the current raise and where.
Yeah, this is exciting. Again, I’m learning, you know if we would’ve had this conversation whether it’s February, so about a little over a year ago, I would’ve had no idea what a regulation a plus investment was. I, I literally didn’t know about it. And now, you know, we’re, we’re sort of leading the way and giving lectures on it at this point.
So, you know, it, it’s just that, that point of saying, how, how can we do this? And not accepting the status quo. Right? So if we accepted the status quo, we’d still be using, you know, whiskey for anesthesia in, in surgical cases, right? So you have to make sure that you’re improving along the way. And this is just another one of those, when we looked at it as a company, yeah, we could have pursued venture capital and, and private equity, but that, that really didn’t sit with the, the personality of our company and the passion of our company.
So we, we thought there had to be a better way of doing this. There, there has to be other ways to do it. And, you know, Came upon the Russian a plus through one of the meetings that we attended, and we looked into it and we’re like, wow, this is a great idea. This may work very well with our company. Now.
We vetted it again. We didn’t just say, Hey, this is great, let’s just go for it. We vetted it. We, we worked with partners along the way that helped. Guide us those with expertise. And what this allowed us to do is take the message and, and take the investment opportunity from Wall Street, bring it to Main Street, and not only does that help us with investment, but then that helps us with marketing of our products.
So our products are now out there and the awareness is greater because some of the investors are orthopedic surgeons, right? So the users of the product, they’re hospital administrators they’re attorneys who, who think this is a great idea as well. So you. getting that mix of marketing now that when we market, we’re not just marketing the investment, but we’re marketing the product.
We’re. Being the message and we’re saying, Hey, how do we get this out there on a larger scale? How do we communicate why the entire cent drill is so good? And, and if you were a patient, why would you want this? So it, it is just a wonderful opportunity. And for a company like ours, we were able to take advantage of it.
We’re still, you know, we’re like, what, three months, four months into this investment round it, it’s going well, but we’re learning along the way. We’re, we’re correcting, we’re adjusting, we’re pivoting as needed. But it’s, it’s definitely headed in the right direction. Yeah, it, it’s a, it is a great story.
It’s a great story, and I, and I’m excited to see it continue to unfold. I want to so as, as we kind of wrap up, I want to make sure that the intel that I got is correct. So you’re climbing Mount Everest. Is this true? Like, what, what’s going on? Yeah, so I knew this question was coming for sure, but you know, as I mentioned earlier, , as I mentioned earlier, you know, I try to stay active and I, I try to push myself not only mentally, but physically, and, and I’ve been climbing the seven summits now for a few years, and it wasn’t my intention in the climb ever since.
And, you know, hit all these highest peaks. But, you know, this past June, I, I, I summited Denali, and we did it as a rapid ascent. So base camp, the base camp in seven days, usually that’s about 28 days. And, and what these mountain. Do is, it is gonna sound funny, but it’ll allows me to relax. You know, the cell phones don’t always work when you’re up there, so you’re just really dialed in and focused and, and yet every foot, every footstep matters when you’re on these mountains.
So every hand placement, every footstep. So it teaches you to be mentally sharp. Mentally diligent. Even when you’re up at 20,000 feet and there’s not much oxygen, and you’re tired and you’re hungry and you’re cold you can’t lose focus. You gotta really maintain that, that precision with every, every step, literally.
So with Everest, you know, after we are successful on Denali you know, I, I, I then thought, I’m like, well, you know, this is a great time to do it. I’m in great. It’s our training. I have a good team that we’re gonna do. So we’re gonna actually try a rapid ascent meaning 10 days or less from base camp to base camp Everest.
So that technically for me being an amateur would be from the mountain. And I’ve been training for the past several months. , we can get into that for hours on the craziness of my training. But I’m looking forward to it and, and, you know, I’m not gonna make unnecessary mistakes. That’s the other thing with this whole process.
I’m not gonna take unnecessary risks if, if the weather’s not right. If something doesn’t feel right, I’m perfectly fine turning around and saying, you know, it’s always next year, there’s always another day. Cuz you don’t wanna, you don’t wanna get that mistake like we talked about at the beginning with the idea.
Mm-hmm. , you don’t want to go from that dinner conversation and say, Hey, I wanna raise a million dollars and get a product. You gotta do that diligence and that dil diligence is the hard work and being able to pivot along the way. So, Everest keeps me sharp, it keeps me engaged, keeps me mentally in tuned.
And Adam, I gotta tell you, after doing these mountains, if I’m in any type of board meeting or discussion or anything like that, I’m not gonna get shaken at all, that’s for sure. , because I’ve been a lot more challenging situations. I can g. Oh my gosh. I’m, I’m just thinking to myself like, there’s a lot of other ways to relax, you know, , like scaling ever.
See, I wanna relax. Let me scale Everest. Yeah, that’s that sounds like a good idea. Oh, man. Well well this is gonna be fun. I’m, I’m uh, I can’t wait to see some pictures. I can’t wait to see some video footage. I’m sure that you’ll be getting all kinds of you’ll be, you’ll be documenting the journey.
Is gonna be fun for me to watch from afar and through email and through video. So thank you for your work on that one. . Yeah. Perfect. Yeah, we’re gonna, we’ll have this on our social media sites and website and everything else for sure. I, you know, a lot of people have been asking about that. I haven’t posted yet just because I’ve been focusing on training, but as we get closer, we’ll, we’ll start talking about it a little more and Yeah.
We’ll, we’ll absolutely engage individuals through our social media pages and, and website. Ah, that’s wonderful. Well, Dr. McGinley, I have to say it has been it’s been really an honor working on this most recent book released with you and I, I know I learned a lot, as I always do from working with you, so I’m sure our readers and viewers did as well.
That being said, if somebody is watching this or listening to this and they wanna follow your journey, they wanna even, you know, you mentioned being able to invest things like that. Like, like how can people follow up and, and connect and, and really follow the. Yeah, it, it’s actually very easy, especially with this regulation around.
So if you go to invest dot McGinley orthopedics.com, we pretty much do weekly webinars, so one hour webinars each week to talk about the investment opportunity. But if you go to that site, you can see all the surgeon videos, testimonials, you can see our s e c registration, our audited financials everything’s there.
And literally, if you want to invest, you click on Invest now and you can pay with a credit card. And within days, you’re an investor in the company. It’s very much streamlined. If you go to our social media sites, our Facebook page at McGinley Orthopedics we have a Twitter link as well. All that information is there and you know, individuals can always reach out.
We are very easily accessible. I see a lot of these communications personally. I like to see the questions, I like to see the commentary. So any listener wants to reach out, my personal email is McGinley McGinley innovations.com. Just shoot me an email. I’d be happy to answer any questions. If you’re thinking about starting a company, if you’re midway through and struggling with the battle, the day-to-day battles like we do I’d be glad to chat with you about it.
So, and if you’re interested in investing as well, again, I, I can talk to you personally. So any of those avenues are there. I’m sure you’ll share this with your viewers. Yeah, we’re, we’re easily accessible, which is part of communi. . Yeah. Wonderful. And we’ll put that information in the show notes so that our audience can just click on the links and head right on over.
And speaking of the audience, if this is your first time with Mission Matters or engaging with an episode, we’re all about bringing on business owners, entrepreneurs and executives, and having them share their mission, the reason behind their mission, and really, What gets them fired up and motivated to go out there into the marketplace and make a difference.
If that’s the type of content that sounds interesting or fun or exciting to you, hit that subscribe button because we have many more mission-based individuals coming up on the line, and we don’t want you to miss a thing. And Dr. McGinley, again, thanks again for coming back on this show and until the next time, Appreciate it.
Yeah, thanks Adam. And I would, I, I echo your comments on there. It’s been great working with you. This is our second project with you and anyone who’s hesitant or, or has questions, I would encourage you to reach out to Adam. He’s wonderful to chat with. And this, this platform has been incredible to work with.
So it’s been funas always. I can’t believe this we’re just about wrapping up. It just flies by and I look forward to the future conversations. Appreciate it.
