Healthcare startups have the potential to revolutionize the way businesses operate, the way we care for ourselves, and how the world runs in entirety. It’s no wonder that there have been so many buzzworthy healthcare startups discussed in business circles over recent years.
Whether you’re founding a healthcare startup or focusing your efforts elsewhere, there’s a lot to learn from these organizations. Here are five lessons you can learn from healthcare startups.
Don’t Sweat the Small Stuff
Healthcare startups are successful because they focus on the big picture. That means that daily operations get automated or outsourced to those who know how to get things done, while the key players focus on the core business. This might mean taking advantage of an outsourced service provider, like Ameridial’s healthcare division, to handle customer service. Alternatively, outsourcing social media management and graphic design to ensure that people are talking about you.
In a nutshell, healthcare startups are experts at not sweating the small stuff. Focusing on the long-term goals while delegating tasks that will get the organization to the desired destination is a significant part of that.
Attitude is Everything
Healthcare startups often begin the journey with the ultimate goal of changing the world. However, they face the same challenges of any startup business – limited resources, intense workloads, conflicting demands, etc. So how do they keep going in the face of adversity? Attitude.
Attitude is everything when running a healthcare startup. Everyone involved has to move forward through the bad days by focusing on the endgame and considering the role they play in the big wide world. Those bad days and boring meetings will all culminate in improving someone’s life. In other industries, the life that’s improved may be yours or your families rather than thousands of cancer patients or amputees who are benefiting from improved medical practices, and that’s fine. Keeping a positive attitude will keep you and your business moving forward.
For healthcare startups, their customers aren’t just trusting them to deliver what’s been promised; they’re also trusting the business with their well-being or even their lives. Trust is everything in a healthcare startup in both business-to-business and business-to-consumer relationships. It’s that trust that ultimately makes the business grow and succeed.
How are you building trust with your customers? What problems are you solving for them? Are you taking a customer-centric approach or too focused on your bottom line? Learn from the healthcare startups and work building a strong rapport with customers into your overall brand strategy.
When it comes to healthcare, everyone has a different experience. Your age, gender, ethnicity, beliefs, and socioeconomic standing will ultimately play a role in health challenges you face and how you receive treatment. Healthcare startups know that they have to consider these different experiences when creating a healthcare solution. Thus, they need to have adequate representations of different groups as employees and board members.
Take the same approach to finding valued employees and contractors for your organization. The more diverse the experiences within the business, the further your customer reach will be. Having different points of view results in different solutions and opportunities being brought to the table, as well as conversations that create a strong company culture.
Time and Strategy are Key
You may have an incredible, innovative idea. However, it can take years to create a viable product from a concept drawn on paper, and more time to make it market ready. Healthcare startups are faced with these challenges every day. It’s not enough to have a new idea; you need to dedicate the time and thought into execution.
When you start a business, know that it will take time to get established and that you could be looking at a few years before you see any return on your investment. Plan accordingly and develop strategies for growing your business over time.
Healthcare startups are the wave of the future, bringing with them incredible developments in healthcare as well as strong business experiences that we can all learn from.