Peter Mason is President of ExtriCARE USA, an innovative medical device company distributing the ExtriCARE product line nationally to the USA and Canada. With over 10 years of experience in strategic business development and sales, Peter utilizes his skills to revolutionize and lead the direction of Negative Pressure Wound Therapy (NPWT) worldwide.
Peter grew up in the medical space with a father as an accredited medical doctor (D.O.) and mother as a registered nurse. His professional career started in 2008 upon graduation from Temple University. Peter was introduced to NPWT in 2012 during his time at a medical manufacturer with the role of sales manager and business development.
Peter strongly believes the NPWT market is still in its infancy stage and will have tremendous growth in the coming years. He hopes to continue innovating and producing a cost-effective product line that will shape and transform NPWT, helping wounds heal much more efficiently.
What is ExtriCARE USA all about?
ExtriCARE USA is a national medical device distribution company specializing in negative pressure wound therapy (NPWT). We distribute the ExtriCARE product line all over the US and Canada. My mission is to be a leader and innovator in the NPWT space by reshaping healthcare with technologies that improve the patient healing process, help clinicians with efficiency and reduce overall costs.
I believe NPWT is a powerful and modern resource that’s still in its infancy stage. My team and I are working diligently to amplify its potential and introduce solutions that can help heal wounds. We want to provide an efficient process for the clinicians we work with and improve the quality of life for the patients’ using our products.
Tell us a little bit about your background and how you started your company?
I grew up very in tune with the medical space—my mom was a nurse and my father was a physician. This greatly influenced much of my journey and path towards working in the medical space and eventually starting my own medical device company.
I’ve always had an entrepreneurial spirit, but I’ve learned from and have had many great mentors. For me, it was a matter of time, experience, and the right opportunity. Once I partnered with a forward-thinking manufacturer (Alleva Medical) who agreed and understood the potential, I felt confident in starting ExtriCARE USA.
I was always intrigued by the healthcare industry because I saw first-hand why my parents loved what they did—because they were able to help people and positively change lives every day. Being a doctor wasn’t something I aspired towards but being an entrepreneur was. My interest and expertise lie in business development and leadership so I connected the dots in a way that kept me in the medical space.
I saw the importance of the medical community and how much it helped people. Being in this industry, there is a lot of growth and potential. My why is to elevate an industry that can help people live a better-quality life and that’s exactly what I’m doing with my company.
What would you say are the top 3 skills needed to be a successful entrepreneur, and why?
The first and foremost skill necessary to be a successful entrepreneur is to have emotional intelligence (EI). This is important in business and leadership because it serves as a vessel to help you navigate challenges and successes. A good entrepreneur is someone who makes connections and builds trust with the people they connect with. When you have emotional intelligence, you are more set up to help others effectively, which in turn will also help you.
The second skill is having the ability to problem-solve and not get discouraged by roadblocks. Successful entrepreneurs use failure as a tool to learn and grow—they fail forward. If you focus too much on what didn’t go right, you lose focus on moving forward towards your goals and vision. Be solution-oriented during failure and use it to pivot, adapt, and move forward.
The last skill is to be creative. Part of being a savvy entrepreneur is to find ways to differentiate yourself from the rest. Having a creative spirit allows you to cultivate the confidence to challenge the status quo. Develop the ability to think outside the box and find creative solutions when it’s not right in front of you.
What are your plans for the future, how do you plan to grow this company?
My plan for the future is to continue moving the needle every day towards my goals and vision. I plan on focusing 50% of my time and efforts on building partnerships and providing excellent customer service to our clients and the other 50% on innovating our products and service offerings.
I plan on making sure our clients not only have a great customer experience, but they feel supported and confident. I believe that if I focus on all of those things, growth will come organically.
What are you learning now? Why is that important?
In today’s uncertain climate, I’m learning to be nimbler and more adaptive with my approach to business and also in life. You can plan and set your future up how you envision it to be, but you need to be flexible with how you get there and being open to change. This is important because having this mentality will set you up to endure unexpected challenges and be more resilient in the long run.
If you started your business again, what things would you do differently?
If I could go back, I would tell my younger self to let go of the idea of perfection—because it’s unrealistic. It’s more important to look at the bigger picture and the long-term goals and vision. Things are going to pop up that are out of your control, and instead of dwelling on those minor hiccups, you need to be focused on moving the needle forward. What I know now that I didn’t know before is to focus more on being present. I have more clarity now on the idea of what’s in my control and what’s out of my control and to focus on conquering what is in my control.
What’s a productivity tip you swear by?
I set up weekly goals and plan my days the night before. This allows me to keep focused and on task with what’s important. Having a clear idea of what my day will look like keeps me on track when distractions occur.
If you only had $1000 dollars to start a new business, knowing everything you know now, how would you spend it?
If I only had $1000 dollars, I would spend it on proving my concept. Many people get tied up in what they think they need for the business to run—instead of getting ahead of yourself, spend that time and energy focusing on making sure your product or service was right before moving on to the other stuff. I would spend that money to use all of the resources in order to make sure my concept was valuable and necessary.
What is your favorite quote?
“The best way to take care of the future is to take care of the present moment.“
– Thich Nhat Hanh
This is my favorite quote because, in business and in life, this quote reminds me to not get too focused on my past or future, especially when things get tough. By being mindful of the present moment, I can ensure my future is taken care of and not lose time in stagnation. We cannot change our past mistakes but we can use our past as an opportunity to learn and grow towards a better future.
What valuable advice would you give new entrepreneurs starting out?
If you’re passionate about something and you keep at it, you will always figure out a way. Be sure to look at failures as challenges. When you overcome challenges, you’ve learned how to navigate situations better so that you’re better equipped to handle adversity in the future. Let go of failures, find creative solutions and keep focused on your vision. What you set out in the beginning of your journey may change and you will succeed by being open to those changes.
Who should we interview next and why?
You should interview Max Choi, CEO of Alleva Medical. Max is a hardworking leader in the medical manufacturing space who is passionate about innovation and helping people. He leads by example and does so without much recognition. He has created a successful business and treats people with respect. I am fortunate to have a trusted partner like him.
How can readers get in touch with you?
If I can be a resource for you or if there could be synergy, you can get in touch with me through LinkedIn or email pmason@extricareusa.com. You can also learn more about my company, ExtriCARE USA, at extricareusa.com. Please follow us on LinkedIn, Facebook, and Instagram.
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