On this episode of the Healthy Wealthy and Smart Podcast, Randall Cooper joins me to discuss the elements of bringing a product successfully to the marketplace. Randall is an experienced Sports Physiotherapist, Founder and Managing Director of Premax, Adjunct Lecturer at the La Trobe University Sport and Exercise Medicine Research Centre, Fellow of the Australian College of Physiotherapists, and designer of the Cooper Knee Alignment Sleeve by Thermoskin.
In this episode, we discuss:
-How to asses if your product idea fulfills a niche area in the market
-Why you should protect your intellectual property
-How to find a distributor that’s right for your product
-Unique obstacles healthcare practitioners face when launching a new product
-And so much more!
Once an idea is reasonably developed, Randall encourages entrepreneurs to solicit feedback on their product. He stresses, “Most of the time, that feedback you get from other people is extremely refreshing and helps solidify whether your idea is good or not.”
One of the biggest challenges physical therapists face is that they can rely on their stable career paths and potentially not take advantage of more risky but fruitful opportunities. Randall believes that, “The entrepreneurs who have nothing to fall back on, they grit down and they get through those tough times and they get to that next level because they have to.”
Before pursuing a venture, it is important to understand your underlying inspiration. From Randall’s experience, “The primary motivation has to be that you’re changing things for the better and not that you want to be a millionaire and retire to the Bahamas.”
For more information on Randall:
Randall is an experienced Sports Physiotherapist, Founder and Managing Director of Premax, Adjunct Lecturer at the La Trobe University Sport and Exercise Medicine Research Centre, Fellow of the Australian College of Physiotherapists, and designer of the Cooper Knee Alignment Sleeve by Thermoskin.
As a Sports Physiotherapist Randall has worked with some of Australia’s most notable sporting organisations including the Hawthorn Football Club, the Australian Winter Olympic Team, and the Victorian Institute of Sport. He consulted from the internationally renowned Olympic Park Sports Medicine Centre in Melbourne, Australia from 1999 – 2016. Randall has also attained the title of Specialist Sports Physiotherapist as awarded by the Australian College of Physiotherapists in 2008.
Randall is the Founder and Managing Director of Premax. Premax in an Australian company that manufactures a range of sports skincare and massage creams. Premax is available in Australia, Asia, UK and Europe, and will be launched in North America in 2017/18.
As an Adjunct Lecturer for the La Trobe Sport and Exercise Medicine Research Centre, Randall advocates sport and exercise medicine, physical activity, health and well-being for all. He provides support to the Centre, activity assisting in translating research findings to key stake holders including the international research community, health practitioners, and the general public.
Randall is also the designer of the Cooper Knee Alignment Sleeve by Thermoskin. This innovative proprioceptive sleeve features an anti-valgus strap, silicone dots within the sleeve to boost activation of the medial quadriceps and hamstrings, a patella sling, and a circular knit to optimise proprioceptive compression.
Resources discussed on this show:
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