Entellus Medical-ENT?

Does anyone know anything about Matt Newsom. Heard good things but would like other input.

 

Yes the pay is awful. Not that JNJ is a killer it is that they bought a more established product line. Entellus is a nice concept but its not the norm and will take a loooong time to become standard if that ever happens.

This is a place for somebody who is a job hopper and who needs a job sooooooo bad they would take anything. Good luck.

 

Here are the facts about Entellus, you have to decide if it is a good job based on your current employment and future goals:
1. At plan job is 175, and the quotas are reasonable.
2. There is not a "guarantee", but there is a minimum quarterly bonus that would still put you in the 140-150 range.
3. Acclarent is very large and a J and J company. For better or for worse, Acclarent has already pioneered this market. Obviously, they are the company the physicians are familiar with- this could be good or bad.
4. entellus offers a better product-more intuitive for the more sophisticated ENT, something to be said for the broad portfolio of Acclarent in dealing with the community based physician.
5. Expectations at Entellus are reasonable ( this is always half the battle with start ups), and funding appears to be very solid.
6. Entellus has been around for some time with a very limited product offering, however they recently introduced a simple tool that more directly competes with Acclarent- appears to be gaining steam.
7. Reps are from larger companies, and do not appear to have a job hopper background. Few Arthocare, Gyrus, VNUS, and Boston Sci- first round reps were a lot of known entities to the new management team.
7. Management consists of ex Boston Scientific and MDT guys ( they will hold you accountable,). The CEO is Brian Farley, who is an A+ player. He started VNUS from his garage, and sold it for over 500 million 10 years later. He adds credibility to a start up company in the questionable present day economy.


Good luck to all those who are looking at this opportunity.

 

So, your minimum quarterly bonus is paid out regardless of whether you hit your number or not? Sounds more like a guarantee to me. Or, is your quarterly bonus paid out according to total sales?
Regardless, if you're saying you receive a minimum quarterly bonus whether or not you hit your number, that ain't bad. However, if you're saying you have a quota based quarterly number, well, that just seems to be how all non-dollar one based opportunities pan out. Plus, unless you are getting paid a pretty good base, it makes no sense to go with a start up. Too risky.

 

Finally somebody who is making sense! Way too risky. Not enough base salary or back end money for somebody like myself who has killed it and has a long track record of success. This could be a long sales cycle and the time between comp payouts could be quite lengthy.The only people that will jump at this are those who really need a job or those who are always looking for "the next best thing".

This is not an A level opportunity hence you will not get A level players. The product is cool but there is already a competitive product/company in the space that has all the tools to continue to dominate.

Lets talk one year from now. The company will still be in the same position then as they are today.

 

Here is some additional information about the Entellus job.
-75,000 base
-7200 car allowance
-The management team does not like the term guarantee, however, if you examine the comp plan there are minimum quarterly payouts it you flame out ( miss quota)-putting you around 140-150 if you miss for the entire year. Number requirement have been reasonable, however, there is some security in seeing this in your comp plan with a start up.
-Matt Newsome is the South regional VP. He was previously a NSM with Strkyer Image guidance.
-Payouts are quarterly as opposed to monthly, so you are running 3 months between commission/bonus checks.

 

I'm sorry man, but I'm not buying that you're gonna get a payout if you don't hit your quota. I could see getting partial payouts if you get a certain percentage, but not a whole payout or even partial without there being a minimum quota percentage reached. If there wasn't, why wouldn't the management simply put it as part of your base salary so that it would be FAR more attractive to the big performers Entellus would/is trying to bring over.
No offense, but I'm thinking you're not telling the full truth, or you don't know the full deal. No way you're gonna get any type of payout without hitting a minimum. And, let's say you don't hit your minimum? Is it a zero dollar payout?

 

I appreciate your concern and doubt about the information i have passed dispersed. My reason for posting this information is so that one can make an informed factual decision on what would be best for them and their family. Entellus is still in start up mode, and rightfully so there are rmany questions. With an unknown entity and the venture capital scarcity in 2010, one would be unrealistic not to have some apprehension ( unless desperate).

I just reviewed the comp plan for the last 2 quarters and there is a minimum payout for not reaching quota that is percentage based. If you are under the 80% mark you still come in around a 140 for the year. HOWEVER, if you are under 80% for the entire year or a long duration, I can not imagine you will still be employed with Entellus.

 

Ehhhh, not sure you're correct on this one. I checked with the Entellus rep in my region and asked her about this. She indicated that if you come in under 80% you get zero bonus. So, it is in fact possible to come in well under $100k if you don't hit your number or come within a certain percentage of it. And, while you say that the quotas are reasonable, I guess that would be somewhat objective. This is a brand new product with a start up company going up against a competitor that sold for 3/4 of a billion dollars. Add to this the fact that their parent company is the largest medical company in the world, and well, I honestly don't know why you set a quota in the first place this early. I have never heard of another start up company with objectives for their reps that are quota based. Instead, they are based off of meeting certain matrix's that help get the company's name out to the targeted physicians.
This also really solidifies the argument that if you are going to expect so much from your new reps in a start up company, you really, really, really should be giving them a substantial base salary. ESPECIALLY if you're not offering any type of guarantee.
Just my two cents worth.

 

Again another person who gets it. Start-ups should not have quotas. When they do they are usually run by arrogant schmucks who will have a ton of turnover in the ranks and eventually they will be blown out for not hitting the quotas they set in the first place. Until they realize this they will keep hiring reps who need jobs and not reps who are looking for a new career. Big difference there. They are paying very low and asking too much too soon.

Pay a large base like good start-ups do and give reps a chance to move some product. Or keep doing what you are doing and keep getting your ass kicked by your competition.

 

Interesting take on the this site relative to all the above comments. You are correct Entellus does need to increase pay it wants to attract or keep A-level reps. 75,000 base is nice if there is a back end guarentee. Acutely Entellus most likely does not think they need to do this relative to today's job market and the fact Accalerent job was such an initial gold mine. Long term they will need to

it will be interesting to see what Entellus does, as it is evident by the # of threads they are creating interest. From what I understand, this second round of hiring they have had a tough time in recruiting legitimate talent.

 

The last part of your post is really telling. Last year and the year before it was so bad reps just wanted ANY job they could get. This year it is much better with many more A level jobs open for those who have the resume and talent. They hired anybody they could before mostly because the people wanted a job and not because they truly wanted to be here. Sure the product is nice but it is still very much a start-up with basically zero presence in many areas. The company does not want to recognize this of course and they think they can go anywhere and take down the acclarent business. Some reps might come here and they first time they walk into an ENT's office and talk about who they are that may be the first time those docs are ever hearing about Entellus. It could be a loooong time before any sales are generated. Reps with relationships, who have sold conceptual products in a "procedure" type setting who can move business will need to be compensated accordingly with a fat guarantee. Why else would they leave wherever they are for something that is far from established? Most the people who will run to this are folks who need a job or who are running from a shitty situation.

I wouldnt come here for less than 90k base and 150k first year in the bank.

 

I agree completely, but alas, this just ain't happening. Guess Entellus figures they can pay their reps pharma money and expect them to continue to turn out positive growth. They'll learn quickly enough when top performers start dropping like flies.

 

Anybody have any new news about Entellus? Know a couple people who interviewed during the last go round of hirings, and I know one guy who took it job. Not gonna say where in case there are any managers from this company trolling.
I've talked to him a couple times and asked him about it. I'm interested in eventually moving to a start-up, so I'm trying to get as much info as possible. Since he's new, of course he's loving it. Although, he said the comp plan was screwy as hell. Also said that some of the reps that have been there for a bit were not real happy with the new management team.
Anyone from Entellus willing to comment? Not saying that I am interested in going to them, but think I could learn some about what a start-up rep's life is like.

 

In the last rounds of interview for a position in a major city, but am a bit concernced over the pay structure considering it is still mostly a start-up. If their quota is realistic, I may go for it, but if they are leveling out major quota numbers just to make sure they don't have to pay out much in comp, I'll stick with my current capital gig.
Any Entellus reps have a comment on quota expectations? Realistic or not?

 

Acclarent has many open positions in the field. Anyone know if this is due to growth or retention issues? ENT seems poised for growth.

Also, anyone know when & where their National Sales Meeting is? I'd love to try to meet with a few folks there to learn more.

Thanks!

 

I am fascinated that ENT docs are just now using a balloon to dilate the sinus when Urologists have been using this same technology for over a decade. Quite frankly, I am amazed that someone like Bard, Cook or Boston Sci didn't branch out and capitalize on this treatment.

 

Considering Acclarent successfully won their lawsuit against Entellus, a lot of the bigger guys out there may have been waiting in the corners to see if it's economically feasible for them to create another sinuplasty product.
Wonder what this patent infringement suit is going to do to Entellus...

 

Sink them.

 

Cause you Surek and Farley are not smart enough to create something on your own.