Tech is affecting every part of our lives and creating an exhilarating new world! Healthcare tech has entered the fourth industrial revolution with automated decentralized manufacturing facilities, 3D printing, cloud computing, artificial intelligence (AI) machine learning, internet-of-things (IoT), and blockchain technology. This is bringing in genome-based disease cures and drug development, AI diagnosing and monitoring, and blockchain-based food and drug fraud detection. This fourth-generation technology is creating exponential hypergrowth healthcare companies with rapidly increasing adoption times for new products and increased speed to billion-dollar companies.
Building a Healthcare Startup Begins With Developing
the team that includes a physician for products and services development, tech for AI / IoT / blockchain technology, and operations for managing the business. Be aware that founders need to balance the amount of money and emphasis on both tech and operations for long-term growth. Team members need to stay in their lanes to prevent distractions.
The next step is naming the company, which should not be taken lightly. Create a name that reflects the business and is easy to remember for word-of-mouth exposure. The website needs to be designed for selling the product or service. A Delaware 'S' Corp or 'C' Corp is a good, long-term choice for structuring the business.
Startups need capital. This requires exploring all options including new options that are always being developed. The three major issues for consideration include the upfront and ongoing fees, equity preservation, and founder freedom for controlling the company. Some sources of capital are passive with the goal of developing a company to improve people's lives with no outside interference or financial performance, while others are active with the goal of making a financial gain. It's important to understand the style of business, the fees, the equity, and the control, and be willing to accept the risks and consequences.
Startup crowdfunding has been an excellent choice in the past with no loss of equity or control; however, this type of funding is no longer viable for the new startup without a product or service. This is an option for a later stage, established companies. Angel investors, especially philanthropic investors, can be an excellent source of capital for the initial proof-of-concept development stage. There are many options for a more substantial round that include venture capital, private equity, family offices, modified loans, and investment banks. These options require extensive research for the comparison of fees, equity, and company control.
Finally, the entrepreneur working 80 to 100 hours per week; losing health, friends, and family; and not being paid is gone. Founders are the most important employees in the startup. They need to enjoy building the company, live a healthy life, and get paid for their work from the beginning.
Dr. Epler is building a new digital healthcare company for improving people's lives with products and services for managing harmful feelings.
Building a hypergrowth healthcare company can be accomplished through organic growth and acquisition growth. This requires people-centered leadership at all levels and customers are the only focus of the business. At this stage, strategic advisory is needed for new product development, sales and distribution channels, and financial expertise. Cash is essential during the scaling stage either from product sales, outside investment, or both. This is where public offerings with SEC 506C and Regulation A+ with up to $75 million every year can be an excellent consideration for hyperbolic growth.
There is a substantial initial fee for document processing, which is offset by equity maintenance and control of the company. Special purpose acquisition companies (SPACs) or Blank Check Companies were developed many years ago and fraught with fraud until the SEC developed rules and regulations that escalated them to a surge of popularity. These must be evaluated closely to determine if they are an unnecessary intermediate step for short-term financial gain. Going directly to an initial public offering (IPO) is often a better option. The transition from Reg A+ capital raise to an IPO is a viable option because the SEC documentation can be used for the process.
Discover a new healthy way of life for company success. This is "know who you are moment by moment" defined as know where you're thinking from and that's who you are. Knowing who you are gives you the freedom to be yourself. You're happier, more productive, and a better person. There are four locations you can think from including the brain, heart, gut, and mind, which is outside the body.
You need to learn to bypass thinking from the head with the anger center, stress center, and chemical pleasure addiction center. Thinking from the stress center occurs whenever you think about yourself, about your problems, or comparing yourself to others. Think from the heart with kindness and giving. Think from the mind with creativity. Learn to eliminate thinking from the unhealthy brain anger center and self-thinking stress center.
There are three essential health habits for this new way of life. Eight hours of sleep are needed every night with six hours for restoring brain energy and two hours of dream sleep for the heart for kindness and giving. Lead a healthy nutrition lifestyle by eating the right foods in the right amount at the right time prepared in a healthy manner. Enjoy one hour of exercise every day by mixing it up with a walk, run, swim, aerobics, Zumba, yoga, CrossFit, and weights.
Help build hypergrowth healthcare companies for improving lives worldwide. Know who you are moment by moment for a healthy way of life filled with high energy, creativity, enjoyment, positive adventures, and extraordinary people.