Episode 11: "How to Transition from An Employee to A Health Tech Business" | Jaden Risner, Family Proud, Inc.

04/29/20 • 25 min

“If you’re growing an early stage team that is mission-driven, you have to use people that believe in
what you’re doing and are doing it for the right reasons, and ultimately will get you to where you’re
going.” -Jaden Risner [20:02]

Who is Jaden Risner and how did he get into his area of expertise? [1:15]

He’s originally from California and was lucky to join the Naval. Both his parents had terminal illnesses
which led him to the healthcare sector. He saw a need for a better way to support families and so
founded Family Proud. He wanted to give a platform for family members to offer support remotely to
their sick loved ones especially when they cannot be there physically.
Is Family Proud just for military families only? [3:50]

They started with only the military side but realized that what they offered applies to any family in need.
They had started with the pediatric oncology space but have now diversified to any family in need due
to recent events and are offering it for free.
How did he transition from being a military employee to an entrepreneur? [5:03]

He used what he learned in the military and applied it in as an entrepreneur like utilizing scarce
resources, the ability to take on a mission, and the ability to grow a mission-driven team. It was a big
jump for him though passion-driven and took all the energy from the military and focused on a new goal
that was his business. The motivating factor is being able to help families that are in need.
How did he strategize what to focus on vs what not to focus on? [6:56]

His initial plan was to continue learning as much as he could from both the tech and healthcare worlds
before he started to execute. He wanted to have the ability to absorb and understand the space before
setting off and it still applies even though he has more tools in place today. He prioritizes by having a
game plan of identifying what is important, the problem, and how to solve it. He credits his team for all
the success as he had no previous experience in the health tech industry.
How did he find the right team for his startup? [9:43]
He ‘hustled’ himself into getting the right people by networking and reaching out to people through
traditional means. He understood the problem from the patient and family’s perspective and knew he
had to go out and get people with the right skills to help him reach his goals. He recommends for
genuine humility when reaching out and building relationships.
What role does he play more on his company? [14:23]

As a CEO, you have to be willing to wear many hats but as you grow and build your team you can then
start to let others lead with their expertise. He believes that as a CEO you have to ultimately be the
visionary and strategist for a startup as you execute the plan.
How does he go about attracting his target audience to the platform? [16:24]
They are now focused on getting organic support engagement through the families and support
networks like family groups and support organizations. They find it easier for them to go through the
organizations to get the message to the families than any other means.
What are the challenges he has faced in starting a company in the healthcare tech industry?[19:12]

The immense cost of hiring a team to build a product as he didn’t have the required skill set has been a
challenge. The process of building a foundation for the company pre-product by finding the right people
that believe in what you’re doing. Identifying the customers and partners in the space willing to work
with his company.
What advice does he have for a healthcare entrepreneur who wants to bring their product
into the market? [21:12]

If it’s a passion, just keep showing up and find the right team. Keep the motivation!
Jaden answers the rapid-fire round of questions. [22:53]
Relevant Links:
Website: https://www.familyproud.com/
Facebook: https://www.facebook.com/FamProud/
Instagram: https://www.instagram.com/familyproud/
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Previous Episode

Episode. 10: "An Affordable Digital Security and Privacy Officer in the Healthcare Industry" | Stacy Kirk, Posture and QualityWorks.

“One of the things that entrepreneurs are great at is being creative, so you have to leverage your network and if you have no network, get advisors that have a network”- Stacy Kirk [25:05]
What is Stacy’s background with health tech? [1:14]
She had a 22-year long career in tech right out of college and found herself going through different channels towards healthcare. In 2007, she joined Zynx Health which focuses on evidence-based care, to lead a software development team. She got an opportunity to work with a lot of great technology and how it impacts patients and doctors.
How the idea of Posture came about? [2:00]
She started her Quality Works company that is focused on consulting with different companies that do not concentrate on technology but need to identify the best practices of improving their tech organization. The consistent problem she found with healthcare tech small and medium companies was their inability to grow because of not having HIPAA compliance. This led them to lose opportunities to work with hospitals and larger buyers because they couldn’t afford the high cost of an onsite security officer.
She started Posture where these companies can hire a virtual security officer for $99 a month and get the opportunity to build the HIPAA compliance program.
Did she want to solve a problem with Posture? [4:05]
A small-medium company can't get a privacy and security officer per HIPAA compliance. She wanted to help these companies grow by creating something efficient and time-effective for entrepreneurs as they focused on other things. She also wanted a price that startups could afford since HIPAA compliance is a process and not a one-day event.
How does her company provide value with their price range? [6:54]
The reason why they’re so affordable is that they leverage tools that haven’t been used before. They use digital tools like automation to generate policies for effectiveness so they do not have to repeat the same things over and over again.
What type of team did she put in place? [9:00]
Stacy believes that putting up a team for a tech company is not an easy task. But she had the tech team provided by her other company Quality Works and reached out to her co-founder who had experience in this specific field. Together they were able to put up a team that solved the problem easily and simply.
Does she have anyone in her team that deals with the healthcare aspect? [12:03]
She and a few of her team members have experience with the healthcare sector and are looking forward to including more minds as they grow.
How did she come up with her business model? [13:08]
When she first started, the idea of charging so little seemed unreasonable to her advisors. Her motive, however, was to start up with reasonable prices for a growing young business and a doctor’s office. The technology helps with being efficient which reduces the manpower and the expenses.
Are they available to the public? [14:46]
They have clients and are available to the public all ready to help with the program. They have a 30-day free trial in place.
How has going to the Beta stage helped with the growth of her company? [16:00]
Their first clients in the Beta stage did not like the product since it was lacking a personal side. Creating a technology product must include people’s thoughts and what they need. The realization helped them become more personalized in their future Beta trials until they found the balance. They train their team every month to ensure that everyone still remembers how the system operates even though most of their services are automated.
Who is their target audience? [19:51]
All healthcare providers, doctors, and all small and medium-size healthcare tech companies. Basically, anyone that is required to have a HIPAA compliant program.
What are the ups and downs they have faced? [20:55]
The idea in itself was big and trying to tackle it was overwhelming. She lost out on time, resources, and frustrations with the team trying to solve something that huge. Finding a way to narrow focus is what has helped them move faster and be more efficient.
What advice does she have for an entrepreneur who wants to do something similar? [23:11]
Do not underestimate the value of validation and trust.
How would people go about building trust with customers? [24:48]
Leverage your network or get advisors that will get you a network. Creating strong bonds helps a lot with trust.
Stacy answers the rapid-fire round of questions. [26:42]
Relevant links:

Website:
https://postured.io/

Next Episode

Episode 12: "From A Pediatrician to An Entrepreneur" | Dr. Ismail Sayeed, ViOS

“In entrepreneurship, there are usually two schools of thought either you solve a pain or you provide a
gain.” -Dr. Sayeed [9:28]

Who is Dr. Sayeed and how did he get into health tech? [1:20]

He used to be a practicing doctor just like both his parents and liked the health system. He got an
internship in various countries and when it got to his residency he decided to specialize as a pediatrician
just like his father. He went to America but he couldn’t see any progress as he wanted to give value to
the community which he couldn’t see there.
He later got a scholarship for two master’s degrees in the UK after his failed ‘American dream’. Things
didn’t look up for him when he returned to Bangladesh even with all his education, he experienced the
same inefficiency in the healthcare system like everywhere he had gone. But he wanted to make a
sustainable income while still making an impact and that is when he came across the physician
entrepreneurship. He failed in his first six businesses but did not give up because he wanted to be an
entrepreneur.
Why should the healthcare industry have entrepreneurship? [7:05]

The health system must include technological innovation and integration that is lacking and the
coronavirus showed us that. He realized that the right person to change the system should be from
within like a doctor and that is what he wanted to do. The middle class was rising quickly in Bangladesh
and he saw this as an opportunity t combine health disruptive concepts using technology as a tool to
bridge the gap between patients and doctors.
What value does ViOS bring to the market? [9:28]

Doctors don’t know how to promote themselves and that is the pain of the medical field. But there are
people in need of a doctor’s skill and that is the patient. That is what ViOS do, connecting doctors with
their patients.
How was the journey of making the ViOS platform? [11:01]

He saw the problem and came up with a solution that could empathize with both the patients and the
stakeholders. It took him years of studying and being a doctor until he had an aha moment, and that’s
when he acted and created a platform.
How did he go about bringing ViOS to the market and creating awareness around it? [13:26]

He figured the most important thing was not the product but the whole process of team building to go
on the journey with him. He also got himself a mentor who advised him to get rid of his selfish mindset
and focus more on providing value.
How does he go about finding his team? [14:52]

He explains how he approached his tech co-founder and the rest of his team and how he met them. He
has led as a leader and created a family that is more than a business.
Did he and his co-founder have any business experience? [18:20]

His CTO is a serial entrepreneur who complimented the business well.
What sort of tools is he leveraging to put his business out there? [19:30]

He spent 7-8 months only on a branding strategy where he created a strong demand even before there
was a product. He wanted to provide value before starting a strategy and answer questions from day
one.
Who was his target audience? [21:28]
He created content that was easily digestible by people. He used online platforms to get out there by
creating content and getting to know his audience even before starting to sell to them.
What were his major obstacles in his journey and how did he overcome? [24:54]

He was business illiterate since he was never taught the value of money. He was also not very versant
with strategy building and he had to be patient with himself as he learned.
How does he know when to learn something and when to start implementing it? [26:54]

He uses the 80/20 rule which is basically using the 20% of your waking life trying to validate your idea,
and the remaining 80% executing. The best judge of your idea is the market, how much are they’re
willing to pay. Learning to stop overthinking.
What advice would he give anyone trying to do what he’s done? [28:51]

Invest in creating a proper growth mindset, get a mentor who can bring you up, be an industry expert,
and learn digital marketing. Form a mental perspective, learn why there’s the pain and think of the
solution.
Dr Sayeed answers the rapid-fire round of questions. [36:06]
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