Today we’d like to introduce you to Michael E. Egan.
Hi Michael, thanks for joining us today. We’d love for you to start by introducing yourself.
I’m a Texas native- my great grandfather, John Franklin Harris, was the first physician in North Texas, and my grandmother’s family, the Prathers, were founding fathers of Highland Park. After graduating from South Oak Cliff HS, I considered taking advantage of studying French Horn (I was in all-state orchestra) at Julliard but chose instead an academic path at the University of Pennsylvania. Though I had a small scholarship, it did not cover expenses, so I worked 2 to 3 jobs concurrently, sold encyclopedias on Long Island in the summers, and graduated in four years — even published a peer-reviewed scientific paper.
After a year working at a satellite lab of Columbia University in New York, I attended graduate school at UT Austin and earned a Ph.D. in physiology. (N.B. The school required mastery of two foreign languages; mine were French and Fortran. Approval of this computer language required a special petition to the grad school). For a little more than a decade, I enjoyed academic appointments at UT Austin, Princeton University, St. Edwards and Lawrence Universities.
About that time, new technologies were emerging in the medical diagnostic market — MRI, digital subtraction angiography, CT, and computer-assisted radiotherapy. MRI was a challenge to the industry because it made images using spectroscopy that looked like X-rays but were quite different. However, spectroscopy is a methodology a physiologist understands. So, I made a transition to the medical device business. Roles included sales & marketing, custom manufacturing (I had to build most of my instruments in academics, so this was an easy role!), and management. I once built a 3-D TV system for an X-ray fluoroscopy machine that evaluated lung cancer lesions.
I worked with some very cutting-edge technology around the world, including MD Anderson & St. Luke’s in Houston, Hamberg Germany’s advanced 10T MRI lab, Eindhoven, Holland’s development center, and others. I even authored a few articles in the medical literature, and helped start two companies.
Next, I was the chief marketing officer for a startup that used MRI to do safety and efficacy testing for the pharmaceutical industry (the mouse did not die!). Then, I ran a company that provided software for pharmacies across the USA. I did not enjoy being president! Preferred hands-on problem-solving.
I came to realize that marketing and physiology accomplished the same task: how things work. Physiology deals with how living things work; Marketing is how business works.
So that’s how I came to consulting. I have been a marketing consultant for the past 25 years, working in healthcare, medical devices, and technology. Clients have included Texas Health Resources, Pfizer, Merck, Texas Instruments, MacAfee, Nokia, and many others.
We all face challenges, but looking back, would you describe it as a relatively smooth road?
Hardly a piece of cake! Travel was intense. I once had breakfast in London. Then lunch in New York (thanks to the Concord), and dinner in Los Angeles on the same day. Plus, there was consolidation and fierce competition for market share – some of it ugly. Then there was constantly changing technology, breakthroughs, and pitfalls. The equipment cost millions, so the stakes were high. I was able to use my academic background on more than one occasion to help close business deals.
Thanks for sharing that. So, maybe next, you can tell us a bit more about your business.
Earlier I sketched the journey to consulting. I joined The Dallas Marketing Group, Inc. in 1998. It was a small “boutique” firm that provided customized marketing consulting services to a variety of large and small companies, including Heinz, Cessna, several Casinos, Presbyterian Hospital, and many others.
Engagements focused on getting a better understanding of market expectations and then developing strategies to meet them. We used sophisticated market research (both qualitative and quantitative) as a primary tool. And my mathematical background in academics was a key differential.
But the largest differential was quality work. COVID’s impact encouraged me to take my practice and clients to my own firm three years ago.
What do you think about happiness?
I’m an avid sailor and love to travel. Grandchildren (all five) are a special joy. My significant other of 29 years and I have visited India, Thailand, Norway, Peru, China, Costa Rico, British Columbia, Ireland & England.
I am committed to giving back to the community. I was deeply involved in the Institute of Management Consultants, a global organization providing certification and education for solo and small firm consultants. Its foundation is ethical business practices. One contribution was developing “QuickStart,” a program on how to set up and manage a consulting practice. Others: organizing a National Conference, serving as an officer, including president. For my contributions, I was named a Fellow of The Institute of Management Consultants (FIMC) in 2020. Currently, I am a member of Business Navigators, an organization promoting servant leadership through outreach and mentoring.
Other activities over the years: I was a Boy Scout Pack Master for 8 years. I have served on the Board of Directors of two local non-profits: Chamber Music International for 20 years and The American Jewish Committee. And I serve on the Marketing Advisory Board for the Jindal School of Marketing at UTD.
Contact Info:
- Website: www.MichaelEganMarketing.com
