Mistakes Entrepreneurs Make When Starting A Business In Healthcare

Each week on The Entrepreneur’s Doctor, together with my guests, we help Entrepreneurs (and Intrapreneurs) create a healthier, happier world through their ventures.

This week, my guest highlights the common mistakes we make as Health Entrepreneurs, and how we can overcome them.

Dr Abdullah Albeyatti is the Co-Founder and CEO of Medicalchain and MyClinic. Medicalchain is dedicated to empowering patients to have access to their medical records and remove the barriers that lead to patient choice and empowerment. Meanwhile, MyClinic is used in over 72 countries worldwide to provide telemedicine solutions to a wide variety of healthcare professionals.

The best part — Dr Albeyatti continues to treat patients as a GP in my home town of Leeds.

Most startups & businesses sadly fail, and I don’t want that to be you. As a public health doctor, I launched The Entrepreneur’s Doctor to help changemakers who are looking to solve problems, add value to the health sector across the world, and help people live healthier, happier lives.

After speaking with and learning from Entrepreneurs, I created a short checklist that will help fast-track your health startup journey. It comes with free access to the 7-Day Startup Therapy Launchpad, as well as the Startup Therapy Accelerator, the world’s first accelerator to democratise health entrepreneurship. I’ve essentially distilled 20+ years of international experience into this prescription for what I like to call Startup Therapy.

The first thing you must do is to validate your idea to assess problem-solution fit & product-market fit (just don’t forget venture-entrepreneur fit!). How would you like to start somewhere safe and fun? Come and ask your questions in my free weekly office hours for Health Entrepreneurs. Bounce ideas in a sandpit, gaining feedback from me and potentially other changemakers on the call.

However, if our journey together ends here, I’ll leave a few thoughts for Entrepreneurs and fellow changemakers:

1. Not all problems need health tech or digital health, but used wisely, they can dramatically help inform prevention, diagnosis, and treatment.
2. Not all problems are in healthCARE, so think of the wider social, environmental, occupational, and lifestyle determinants of health.
3. Not all problems can be tackled here and now, so think of the life course approach, with innovation in early-life (the first 1000 days), and across all sectors.