Failure as a Predictor of Success – Chris Strohsahl
- Failure as a Predictor of Success - Chris Strohsahl Behind The Numbers 29:35
In this episode of Behind the Numbers, Dave Bookbinder hosts an engaging conversation with Chris Strohsahl, the President and CEO of Drummond Scientific Corp. The discussion offers deep insight into Drummond’s vital role in the global medical device industry, their unique approach to impactful solution creation, and the immense importance of nurturing meaningful client Relationships.
Chris shares captivating details of his journey, moving from biophysics to leading Drummond Scientific Corp in developing and Investing in life-saving medical devices. He sheds light on their mission of making a difference beyond just product production, from helping families conceive to assisting individuals manage crucial health conditions. He further explores the challenging journey a product takes before hitting the shelves, and Drummond’s key role in scaling these devices to ensure broader accessibility.
Stressing on the need for forming strategic partnerships, Chris emphasizes the vital responsibility of supporting customers in the design process, thereby securing the viability of their innovative solutions at scale. The team also scrutinises the impact of the COVID-19 pandemic, reinforcing the significance of flexibility and adaptability in preserving business operations and supply chain management.
In the concluding section of the episode, they discuss the vital role and the value of efficacy of a management team, underscoring the essence of the team’s synergies and collective competencies in an organization.
Chis outlines the value of failure as an entrepreneur, emphasizing its role as a tool for understanding one’s potential and fostering success. The significance of networking, building sustainable relationships, and running startups are other invaluable nuggets shared in this insightful discussion.
As an Angel Investor, Chris advises focusing beyond a startup’s monetary value, instead, keeping an eye on the people and mission behind it.
About Chris Strohsahl:
Chris Strohsahl is the President and CEO of Drummond Scientific Company. A biophysicist by training, with expertise in the Innovation of diagnostic techniques and devices, he rose to Drummond’s top position at the start of 2022 and has since led the Company’s rebranding as an elite manufacturing partner to both leaders and disruptors in the IVD and IVF industries. A passionate believer that medical device development works best when end-stage manufacturing is engaged early, Chris and his colleagues have driven a paradigm-shift at the Company, as Drummond now actively seeks to engage its partners far earlier than would be expected of a typical high-throughput manufacturer.
About Our Sponsor:
Haefele Flanagan (HFCO) is a full-service accounting firm that’s been serving clients since 1967. Not your typical accounting firm, HFCO’s services extend well beyond tax and audit to include valuation services, strategic and succession planning, leadership development, and more. When you work with Haefele Flanagan, we help you realize your long-term goals. Please visit them at www.hfco.com.
About the Host:
Dave Bookbinder is the person that clients reach out to when they need to know what their most important assets are worth. He’s a corporate Finance executive with a focus on business and intellectual property valuation. Known as a collaborative adviser, Dave has served thousands of client companies of all sizes and industries.Â
Dave is the author of two #1 best-selling books about the impact of human capital (PEOPLE!) on the valuation of a business enterprise called The NEW ROI: Return On Individuals & The NEW ROI: Going Behind The Numbers.Â
He’s on a mission to change the conversation about how the accounting world recognizes the value of people’s contributions to a business enterprise, and to quantify what every CEO on the planet claims: “Our people are this company’s most valuable asset.”
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