#211: Dr. Roxie Mooney: The Highest Path to Profit is Co-Ideation
- Roxie's grandfather was a pharmacist who had three different pharmacies in New Orleans, but she credits her grandmother—who worked as an Avon saleswoman for 27 years—for shaping her entrepreneurial spirit and path.
- Roxie has a bachelor's degree in communication, a master's in leadership, and a doctorate in business administration with a marketing specialization. Her doctorate thesis was on the commercialization of technology and innovation in healthcare.
- She started Legacy DNA in 2010 as a healthcare marketing agency.
- Roxie highlights the advantages of investing in digital marketing/sales channels and the challenges of working virtually.
- 95% of innovations that are brought to market fail to reach an adequate level of customer adoption or financial ROI.
- You must test and validate your business solution. Validate research and customer discovery are mission-critical.
- Roxie dives into the five "co's" of product co-creation: co-ideation, co-evaluation, co-design, co-test, and co-launch.
- Her doctoral research prepared her for the process of writing her book, and she turned her book into an interactive workbook with digital content.
- Content marketing is important for developing credibility and authority, particularly when you interview influencers.
- Be customer-obsessed versus product or service obsessed.
- Podcasts are a way to cultivate relationships and deliver value before selling a product prospective clients may or may not need.
- Roxie talks about the frameworks and resources she developed for early adoption, co-creation, pivoting, and piloting.
- Entrepreneurs tend to get consumed by their businesses. Make time for family and take care of yourselves.
- Test and validate your business idea. Even though a problem may exist, this doesn’t necessarily mean you can build a viable business model. It’s mission-critical to conduct validation research and customer discovery.
- A podcast is a trifecta of market research, content marketing, and sales.
- Roxie's tips for creating podcast content and staying consistent include hiring a third party to help you get started, finding the right mix of influencer episodes and sales episodes, and forgoing vanity metrics.