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    Education

    Healthcare Boss Academy Podcast

    Want to learn how to leverage your healthcare knowledge to start or grow a business?

    The Healthcare Boss Academy podcast presents interviews with real-world healthcare entrepreneurs, innovators, and other leading business experts. On each interview episode, your host Jason A. Duprat will deconstruct each guest’s playbook for success so that you can learn ideas, strategies, and insights that will help you on your entrepreneurial journey. You can follow Jason’s personal journey on his bite-sized “Tactical Tuesday” solo episodes!

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    Copyright: Healthcare Entrepreneur Academy ©2019

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    Latest Episodes:
    #152: Tactical Tuesday: 7 Tips for Mitigating Data Breaches & Hacks Jan 05, 2021
    Show notes

    OVERVIEW

    Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks about why your business should get cybersecurity insurance and different ways to mitigate risks when it comes to your business' data being hacked or stolen.

    EPISODE HIGHLIGHTS:

    • Are you taking the right security measures when it comes to protecting yourself and your business' data?
    • The recent attack on SolarWinds Orion software is one of the greatest US cybersecurity breaches and affected close to 18,000 companies. The breach led to massive data compromises in big corporations, including governmental agencies, and will take years to identify the damage that's been done.
    • The cybersecurity of your business should always be one of your biggest priorities.
    • Your online data footprint is vulnerable to an attack at any time so protect yourself by purchasing cybersecurity insurance.
    • As far as security tips, the first thing you should do is use two-factor authentication, which sends a pin code to your cellphone to verify logins.
    • Tip two is to review your password management protocol. Change your passwords every 6 months and use unpredictable passwords - including a combination of uppercase and lowercase letters, along with symbols and numbers. You can also use third-party password software tools such as LastPass.
    • Tip three is never plug anything unknown into your computer, such as a thumb drive or CD. They can contain malicious codes that can compromise your computer's files.
    • Next, set up your routers properly. Change the username and password and check if your router password is encrypted.
    • In addition,make sure you turn on automatic updates for your software to periodically check for viruses.
    • Tip 6 is to remember to also include Windows Updates as well.
    • Lastly, use open networks with caution. Invest in your wifi hotspot on your phone to prevent unwanted data breaches from suspicious open networks.

    3 KEY POINTS:

    1. Cybersecurity should be your number one priority, especially when you have valuable data such as patient records and personal information within your computer or network.
    2. There are different steps you can take to prevent data breaches and hacker attacks such as using two-factor authentication, managing your passwords and being cautious of what you plug into your computer.
    3. A breach in your data is a liability issue for you and your business. Don't be negligent and utilize precautions to lessen the risks.

    TWEETABLE QUOTE:

    "Cybersecurity - the security of your patient data, your business' data and your personal data - should be at the forefront of your mind." - Jason Duprat

    RESOURCES:

    LastPass - https://www.lastpass.com/

    Course Creator Academy: https://jasonduprat.com/courses/

    HEA Facebook Groups: https://www.facebook.com/groups/HeathcareEntrepreneurAcademy/

    #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #cybersecurity #databreach #SolarWindsHack #cyberthreats #dataprivacy


    #151: John Gorman: Launching Large-Scale Interventions for Underserved Populations Dec 31, 2020
    Show notes

    OVERVIEW:

    Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast speaks with John Gorman, Founder and Chairman of Nightingale Partners LLC - the nation's leading healthcare Opportunity Zone investment fund and consultancy. John talks about his early career helping poor performing companies turn their businesses around and how he built teams to accomplish this. He also discusses conducting large-scale healthcare interventions to help vulnerable communities and the investment opportunities for these outreach initiatives.

    EPISODE HIGHLIGHTS:

    • John started Gorman Health Group as a compliance practice, which evolved into operational fixes and eventually led to full scale assistance for distressed companies.
    • Assemble a ninja squad to pivot and find solutions that will stick.
    • John highlights a variety of turnarounds he's overseen, including Excel Health, a medicare advantage special needs plan.
    • John has been intent on building a massive network of people. When helping a business pivot and turnaround, it's important to match up skill sets and personalities.
    • Behavioral Economics is about the science of incentivizing people.
    • The biggest motivators for smart people doing complex tasks is autonomy, mastery and a sense of purpose.
    • As an entrepreneur, finding problems and forming solutions is your bread and butter.
    • John put his retirement plans on hold when he learned about the IRS revamping regulations for the Opportunity Zone program.
    • With this program, Nightingale Partners helps anti-poverty initiatives improve the quality of care for vulnerable beneficiaries and dramatically decrease their healthcare costs.
    • Nightingale Partners is focused on sourcing partners and de-risking investments for anti-poverty initiatives, as well as bringing expertise to these intervention programs.
    • The IRS' revamped regulations allows investments in real estate purchases, leases and working capital.
    • Nightingale Partners is working on a JV with Triple S and the Boys & Girls Clubs to help thirteen of Puerto Rico's most notorious housing projects. THey are buying vacant land to put in a school, a workforce development center, and medical and social services clinics.
    • Opportunity Zone maps are available through every state's Department of Economic Development, as well as the Nightingale Partners website.

    3 KEY POINTS:

    1. Always establish pre-conditions when going into a company. Find the right business model that works for you.
    2. With the Opportunity Zone Program, Nightingale Partners' mission is supporting anti-poverty initiatives and improving the way of life for its beneficiaries
    3. The changes in IRS regulations have opened up new opportunities for entrepreneurs and business ventures.

    TWEETABLE QUOTES:

    (The goal of entrepreneurship) "Meet an unmet need in the market, and find a way to monetize meeting that need in a way that works for you and your client." - John Gorman

    "Healthcare is the most fertile soil in the American economy for entrepreneurship." - John Gorman

    RESOURCES MENTIONED:

    John Gorman on Linkedin - https://www.linkedin.com/in/john-gorman-098b265

    John Gorman on Twitter - https://twitter.com/johngorman18?lang=en

    Nightingale Partners LLC website - nightingalepartner.org

    Nueva Verde Luz Wesbite - https://canna-b.com/directory/listing/nueva-verde-luz-llc

    #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #businessturnaround #socialdeterminants #healthequity #antipoverty #investment #intervention


    #150: Tactical Tuesday: Positive Input Equals Successful Output Dec 29, 2020
    Show notes

    OVERVIEW

    Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks about the importance of monitoring what you put into your life - including your mind and your efforts - and how this affects successful outcomes.

    EPISODE HIGHLIGHTS:

    • What if your input doesn't equal your output? What if you're working towards something yet the results aren't what you expected?
    • If this is the case, it's time to analyze your inputs and the information being downloaded into your brain.
    • What are you reading? Watching? Listening to? Who are you talking to? These are all information inputs being downloaded into your brain.
    • Inputs become your subconscious and they affect outcomes. So control and monitor what you're downloading and consuming.
    • To be equipped for success, remain hungry for knowledge.
    • Ask yourself the hard questions: What does my effort look like? What content am I consuming? Am I seeking new knowledge?

    3 KEY POINTS:

    1. Inputs include not only what content goes into your mind but also the energy you give to your efforts.
    2. Ensure the output you want by monitoring your effort and content. Success is about grit - the hard work you put in will reflect the results you receive.
    3. Filter the content you consume on a daily basis because this affects your mindset.

    TWEETABLE QUOTE:

    "Filter your inputs and recheck yourself in 6 months. I guarantee you you will have made substantial progress towards getting the output you want." - Jason Duprat

    RESOURCES:

    https://jasonduprat.com/courses/

    https://www.facebook.com/groups/HeathcareEntrepreneurAcademy/

    #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #positiveoutcomes #positiveresults #lifelonglearning #contentconsumption


    Bonus #3 - Champions of Charity: Tammy Cannon: Working from the Heart Dec 28, 2020
    Show notes

    OVERVIEW:

    Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast is launching a new quarterly bonus series. In these episodes, Jason will interview inspirational leaders who are making a difference in the lives of others through their charity, foundation or nonprofit work. In this debut episode, Jason speaks with Tammy Cannon, Founder and Executive Director of Project 143 (P143), an international orphan hosting program. Tammy discusses the hosting process, the struggles the children face and P143's fundraising efforts.

    EPISODE HIGHLIGHTS:

    • Tammy founded P143 based on her desire to help orphans and loving families find a connection. At the program's launch, there were 143 million orphans around the world, which inspired the name.
    • Tammy talks about the different countries they've connected with, which includes the Ukraine, Latvia and Columbia. She also shares how orphans are selected for the program and how families are matched.
    • Some factors the organization considers are the resilience of the children and their desire to travel and interact with host families.
    • Tammy partners with different adoption agencies to allow families the option of adoption after hosting a child. She also forges connections with each country's governments and their embassies for the Visa process.
    • Tammy explains how the language barrier has been a challenging yet fruitful opportunity for both the children and the host families.
    • P143 provides support for older children in the orphanages. This includes helping them as they grow to become young adults, move out of the orphanage and find a permanent home.
    • The financial areas of need for P143 include host fees, transportation fees, paperwork, insurance and scholarships.
    • P143 ensures host families are supported through counseling so they understand the background and possible traumas the children may have faced.
    • Tammy shares a story about one of her early host families and how this continues to inspire her in her leadership role for P143.
    • The organization does fundraising to support the specific needs of the orphanages. This includes buying games, personal protective equipment and even building a swimming pool and a kitchen!

    3 KEY POINTS:

    1. P143 provides host programs allowing children and host families to connect. They also partner with several adoption agencies and international governments if host families decide they want to adopt after they host.
    2. Growing up in an orphanage is a difficult life and some children suffer from trauma. P143 provides the children with life skills and also offers counseling to the host families on how to care for the children with love and understanding.
    3. The organization is a nonprofit and volunteer-led. One key area of financial need is the scholarship program.

    TWEETABLE QUOTES

    "They're not orphans by choice. They've had a tough time, they've been overlooked for some reason, and the older they get, the more overlooked they become." - Tammy Cannon

    "What we're attempting to do is remove the stigma of an older child adoption…what we're trying to do is give these older kids a face, a name and a personality." - Tammy Cannon

    RESOURCES MENTIONED:

    Project One Forty Three Website - https://www.p143.org/

    143 Million Reasons Blog Website - https://143millionreasons.org/

    #HealthcareEntrepreneurAcademy #orphanhosting #hostfamilies #adoption #missiontrips #servantleadership #nonprofit


    #149: Mark Lack: Be the Broker of Expert Content Dec 24, 2020
    Show notes

    OVERVIEW:

    Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast speaks with Mark Lack, an expert on personal branding, the best-selling author of "Shorten The Gap" and Host of 'Business Rockstars.' Mark discusses different strategies for building a personal brand, creating online content and finding ways to scale your business. He also talks about Business Rockstars and his dedication to his craft.

    EPISODE HIGHLIGHTS:

    • Personal branding is changing the narrative of sales and marketing.
    • Mark invested in education for seven years and learned from the top people.
    • Develop your online positioning to build your personal brand and then monetize.
    • Ask yourself: What problem do I want to solve? How will I be the best? What's my niche? How will I show up differently?
    • Produce online content to add value and create goodwill.
    • A key way to share content is read books on topics you're interested in and highlight key takeaways with your customers. Afterwards, contact the author to schedule an interview.
    • Using the above content model, book chapters become blogs and YouTube videos. Then, edit 60-second clips from the video and share on social media.
    • Bring the experts and their expertise with your own spin on it - be a broker and a facilitator.
    • Your network is your net worth.
    • Business Rockstars is a media company offering tons of content, including a talk show hosted by Mark and focused on entrepreneurship.
    • Mark plans to launch a new talk show in 2021 utilizing Amazon, Netflix and YouTube.
    • Consistency and hard work have been the keys to Mark's success.

    3 KEY POINTS:

    1. To become an entrepreneur, you have to identify a problem, seek a market and create transformative, value-loaded content. Begin with the basics - start small, expand when needed and create content consistently.
    2. Interviews are the easiest way to create content. They allow you to expand upon existing topics by being the broker of information and creating an expanding connection with other creators.
    3. Always remember to monetize your content. Reach out to sponsors, look into affiliates and use the available online tools to expand your knowledge.

    TWEETABLE QUOTES:

    "You don't need to be the expert, you'll eventually become the expert when people tell you you are but in the meantime, just broker and facilitate." - Mark Lack

    "You have to have blind faith. You just have to know that if I do this for five years consistently and I make the time, it will all pay off." - Mark Lack

    RESOURCES MENTIONED:

    Mark Lack on LinkedIn: https://www.linkedin.com/in/markalack

    Mark Lack on Facebook: https://www.facebook.com/MarkLack777

    Mark Lack on Youtube: https://www.youtube.com/user/1marklack

    Mark Lack on Instagram: https://www.instagram.com/mark.lack/

    Shorten The Gap Website: https://shortenthegap.com/

    Shorten The Gap on LinkedIn: https://www.linkedin.com/company/shorten-the-gap?trk=public_profile_topcard-current-company

    #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #branding #personalbranding #onlinecontent #contentcreation #valueadd


    #148: Tactical Tuesday: 8 Tips to Feel Comfortable & Confident on Video Dec 22, 2020
    Show notes

    OVERVIEW

    Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks about how to increase your comfort level when you're in front of a video camera. He also discusses why videos can be a growth factor for your business.

    EPISODE HIGHLIGHTS:

    • In the digital age, it's important for any business' marketing to produce content, and in most cases, videos are a top resource.
    • Video is the key component for your customers to know, like and trust your brand.
    • Videos are often used for webinars, coaching calls, Q&A sessions, online courses, consultations and Facebook ads.
    • Feeling comfortable in front of the camera helps your business and you as a speaker. It prepares you for the stage to do public speaking and improves your ability to communicate on the spot and live.
    • Jason shares 8 tips to build your confidence in front of the camera, beginning with don't let your mind wander to what you're trying to avoid such as looking away or ummms.
    • Tip 2 is you gotta put it in the reps. The only way to get better is to practice. Keep pushing forward and getting up.
    • The next piece of advice Jason shares is it's okay to start with recorded videos. Live videos can be more high pressure. If recorded videos still make you uneasy, start with recorded audio instead.
    • Rewatch pre-recorded videos and take note of your habits in order to improve upon them - you'll get better in time.
    • Tip 4 is to realize it's okay to mess up and start over. Sometimes, Jason actually leaves in small flubs because this makes him relatable and his content more organic.
    • The next thing you should consider is writing an outline for what you want to say. You don't have to follow it 100%; you can use it as a guideline.
    • Tip 6 is to consider using a teleprompter. Jason recommends the Nano Teleprompter application and the Padcaster Parrot Teleprompter which docks on your DSLR camera. This has made content production much easier for Jason.
    • Jason's 7th tip is to consider making an online course. Most online courses provide intricate video lessons. Teach something you're knowledgeable in and make videos. This will help you practice and generate income at the same time.
    • If you're interested in creating online courses, head to Jason's website and learn more about the Course Creator Academy program. (See address below).
    • Lastly, take time to enjoy what you're doing. Create videos on topics you are passionate about. Have fun, relax, smile and enjoy!

    3 KEY POINTS:

    1. The most common form of content any business can make, especially now that everything has gone digital, is video. If you want to have a greater reach in the market and let your brand be known, you have to learn to be comfortable in front of a camera.
    2. Becoming good at something takes time. Step out of your comfort zone and learn how to improve your bad habits and mistakes. Creating video and audio content is an art to master over time.
    3. The best way to earn money and practice creating video content is by developing an online course. Find your market, find something you're an expert in or passionate about, and just put yourself out there.

    TWEETABLE QUOTES:

    "Have fun, smile, relax and the rest is just gonna come together." - Jason Duprat

    "Just focus on your audience…focus on them and on delivering real value, really good content, and really good support." - Jason Duprat

    #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #video #videocontent #digitalcontent #onlinecourses


    #147: Lucia Huang: Building Software to Revolutionize Mental Healthcare Dec 17, 2020
    Show notes

    OVERVIEW:

    Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast speaks with Lucia Huang, Co-Founder and CEO of Osmind. Lucia shares her insight on healthcare entrepreneurship, including various levels of fundraising and the impact of Artificial Intelligence. She also discusses the mental health sector of the healthcare industry and how Osmind addresses the gap of personalization.

    EPISODE HIGHLIGHTS:

    • Lucia talks about the macro and micro aspects of entrepreneurship. On the micro side, it requires hustle and grit and the macro aspect includes thinking about healthcare and the industry as a whole.
    • There's a range of investors out there like venture capitalists and cash flow focused investors seeking interest in the healthcare industry, especially in the mental health sector.
    • Jason and Lucia talk about the technique of blitzscaling, which prioritizes growth over everything else to monopolize.
    • There are three levels of fundraising: angel, venture and private equity.
    • The life cycle of a company includes angel investing, a seed round and a Series A where you've found your product-market fit and you're receiving inbound interest.
    • Product market fit is where you're spending more time figuring out how to service your existing customers than you are trying to go after new customers.
    • Artificial Intelligence (AI) is growing in the healthcare industry. Lucia defines AI and what this innovation means for data processing, care delivery and drug development.
    • Osmind was launched due to the lack of personalization for mental health services and focuses on improving access to health modalities and therapies.
    • Mental health has been stigmatized and COVID has helped to open up the conversation around mental health.
    • Lucia's advice for starting your business: don't be afraid if you're not familiar with technology and get a minimum viable product out there to provide a solution to a problem.

    3 KEY POINTS:

    1. As an entrepreneur, there are many hurdles to overcome to expand your business. Although cash flow and growth is the main goal, never forget to focus on your client's needs and always aim to provide value-based care.
    2. AI has been a big topic in the healthcare industry when it comes to data processing, care delivery and drug development. AI can help start-ups focus on data, think of new ways to solve problems and ultimately improve business as a whole.
    3. Always aim to find a perfect product-market fit. Starting a business is hard. Continue to focus on your market, put your product out there and be smart with your decisions.

    TWEETABLE QUOTES

    (On entrepreneurship) "There's so many books you can read and so many people you can talk to. But just go and do it yourself and give it a go." - Lucia Huang

    "Don't be too afraid if you're not a technologist at heart or if you're not a coder…by talking to people who are familiar with it, you're going to pick up a lot of the language and start to understand what it means." - Lucia Huang

    RESOURCES MENTIONED:

    Lucia Huang on Linkedin: https://www.linkedin.com/in/luciayhuang

    Osmind website: https://osmind.org/

    Osmind on Linkedin: https://www.linkedin.com/company/osmind?trk=public_profile_topcard-current-company

    #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #fundraising #artificialintelligence #innovation #technology #mentalhealthcare


    #146: Tactical Tuesday: Should you Utilize an Affiliate Marketing Program? Dec 15, 2020
    Show notes

    OVERVIEW

    Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast discusses the pros and cons of affiliate programs to grow your business.

    EPISODE HIGHLIGHTS:

    • There are three ways to grow your business. Word-of-mouth or through a general Google search, paid advertisements like billboards, Facebook or Google, and hiring sales staff or an affiliate marketer.
    • Word-of-mouth is tough to scale. Paid ads can be expensive and tough to master. Often entrepreneurs lean towards affiliate marketing programs.
    • An affiliate marketing program is a commission-based program where you pay others to share your product.
    • The biggest cons to affiliate programs is they require a lot of administrative effort to manage, which can be tough for small businesses. You need to set up processes for partners to sign up and for payment compensation.
    • In addition, another con is it can be difficult to track legitimate sales. Sometimes affiliate marketers will say they can do more for your business than they can actually do.
    • Screen potential partners by interviewing them. Review their track record for success and if they sign on, provide training on your business and its services or products.
    • The pros of affiliate programs include they can lead to tremendous sales if the affiliate marketer is a solid and reputable resource. In addition, you can eliminate the burden of paid advertising.
    • Jason recommends using affiliate software including CAKE, Ontraport and PayKickstart. (Jason points out he doesn't receive a commission on these products; he's providing strictly as a helpful resource).
    • If you're interested in becoming an affiliate for the Ketamine Academy or IV Therapy Academy programs, reach out to Jason via jason@ketamineacademy.com.

    3 KEY POINTS:

    1. Commissions for affiliate marketing can range from the low-end of 30% to the high-end of 50%. Products are usually on the lower end and digital services are on the higher end.
    2. Affiliate programs offer different pros and cons. Some of the cons include additional administrative effort to get processes set up and the potential for exploitation by unprofessional affiliates. The pros include the opportunity to foster a boost in sales and eliminate paid advertising.
    3. Affiliate programs require monitoring, particularly on the accounting side of things. Fortunately, there are accounting and affiliate management tools you can access to help alleviate the burden.

    TWEETABLE QUOTES:

    "Organic growth is tough, it takes a while to scale rapidly. Paid ads are expensive and time-consuming to master. And so, a lot of people decide to go with the affiliate option." - Jason Duprat

    "The biggest drawback (of affiliate programs) I keep hearing over and over again is affiliate programs take a lot of administrative effort to manage." - Jason Duprat

    #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #affiliatemarketing #affiliatepartnerships #generatesales


    #145: Todd Tresidder: Design Methodically to Achieve Financial Freedom Dec 10, 2020
    Show notes

    OVERVIEW:

    Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast speaks with Todd Tresidder, Owner of financialmentor.com. Todd shares his insight on investment strategies and adapting to the market. He also highlights the importance of risk management and how to determine your financial outcome.

    EPISODE HIGHLIGHTS:

    • The investment field is a tricky process. Go into it with your eyes wide open because you'll encounter conflicts of interest and natural biases.
    • A hedge fund is focused on skill-based investing - quantitative disciplines vs market price movement.
    • Todd shares his investment strategies and expands on the principles involved including diversification by source of return.
    • Todd reflects on his decision to sell his hedge fund business and how his lack of mentorship back then led him to his coaching business, financialmentor.com.
    • He launched finanaicalmentor.com in 1997 to help normal people achieve extraordinary financial results.
    • Todd started out as a coach and then planned financial education models to share products, courses and online calculators.
    • When it comes to your business, you want to be ahead of the curve on something that matters, helps people and solves a problem.
    • Build your business as a side hustle while you have a reliable income from a full-time job. Work out the bugs first so you can prove your business model.
    • Build relationships, trust and a brand. Then monetize to make sure it's valid.
    • Entrepreneurship is about providing value, having fun and helping people.
    • There are two formulas for financial income and life growth: Mathematical expectancy and future value equations.
    • Understanding risk management is the core of financial independence.
    • Todd discusses his view on the current economy and the economic "end game."
    • To prepare for the coming "end game," train yourself. Todd shares one of his tools, Expectancy Investing Done For You, which does all the asset allocation work for you.

    3 KEY POINTS:

    1. Investing isn't an easy thing to dive into. You have to learn about different strategies and principles, apply them to your business and learn to adapt to the market. Always be open to the idea of mentorship and be mindful of the decisions you make.
    2. Businesses are always changing with the times. Work on something worthwhile and give value to your consumers. Adapt to the market's needs and keep your financial outcome in mind.
    3. After building your business, keep it in the game for as long as possible. It's important to understand how to manage risk and have an outlook for your financial outcome if you want to keep growing.

    TWEETABLE QUOTES

    "Get your market right and position yourself in a growing market." - Todd Tresidder

    "Traffic times conversion equals profit." - Todd Tresidder

    RESOURCES MENTIONED:

    Todd Tresidder on Linkedin - https://www.linkedin.com/in/toddtresidder

    Financial Mentor - https://financialmentor.com/

    Wealth Coach - https://financialmentor.com/financial-coaching

    Financial Mentor E-books - https://financialmentor.com/educational-products/ebooks

    #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #investmentstrategies #riskmanagement #financialmentor #financialcoach


    #144: Tactical Tuesday: Focus on your Customers vs the Competition Dec 08, 2020
    Show notes

    OVERVIEW:

    Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast discusses the dangers of obsessing over your competition instead of focusing on your own customers and your business.

    EPISODE HIGHLIGHTS:

    • Do a market analysis and gather market intel about your competitors in order to refine your business idea.
    • Don't obsess over your competition and copy their every move. This can result in stress, anxiety and your business' demise.
    • Avoid having a copycat mindset and groupthink.
    • Jason shares an example of how Blockbuster and Hollywood Video entered the movie rental market but then focused on each other vs their customers, ultimately causing their demise.
    • He also highlights how Redbox entered the arena by offering movie DVDs via a kiosk. And how Netflix entered the market by mailing DVDs to their customers before eventually switching over to streaming services.
    • In both cases, Redbox and Netflix found success because they analyzed how they could better serve their customers and remove pain points.
    • It takes innovation to excel in business.
    • Always put your customer first.
    • Jason provides updates on his Course Creator Academy, including one student who earned $12,000 for her beta webinar.

    3 KEY POINTS:

    1. A lot of entrepreneurs tend to overanalyze their competition. Gathering intel to keep up with their pace is fine, but trying to constantly one-up them doesn't help your business.
    2. Instead of focusing on your competitors, analyze your market and think of how you can innovate your business.
    3. Always keep your customers and your business' survivability in mind.

    TWEETABLE QUOTES:

    "It takes innovation to really excel in your business." - Jason Duprat

    "Think about and focus on how you can better serve the customer." - Jason Duprat

    #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #marketanalysis #competitiveanalysis #innovation #innovate


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