Lessons from my Entrepreneurial Journey #8
No, there is nothing wrong with the title. One might wonder what is there to catch up with the present, when we are already there in the present.
The context is as Entrepreneurs, we build futuristic products without considering aspects like
– Is it too futuristic for the market to accept?
– Does it have a bridge between current and future view of things?
– Is it monetizable & scalable?
At such times, we need to slow down and catch up with the present.
I have been guilty of building such products on a couple of occasions.
Our first attempt at a product at HealthMacro, was a Cloud Based Imaging system, which delivered Images on Cloud to patients improving the traditional Analog film or the DVD model of delivery and worked cool, but there were hardly any adopters for various reasons.
Our second attempt was a 3 way collaboration platform that connected doctors, labs and patients, which looked conceptually great on paper, but efforts to convince doctors and patients to log on were in vain. We finally had to make it a 1 way model < of a data push towards doctors and patients >.
Learning: Customers need a bridge between the present and the future. You need to tone down your future & adapt to the present as you wait for the market to evolve.
In the healthcare Industry, people still are comfortable with the traditional “On Premise” model, though the cloud gives them several advantages. They still are uncomfortable having their complete ERP on cloud.
Here’s what we have done. We have provided them the same product “On Cloud” as well as “On Premise”, to create the bridge between present and the future. We have also allowed them the option to switch back from “On Premise” to “Cloud” or even vice-versa. This way they are provided a bridge between the present and the future to attempt something new. At this stage, these experiments are still inconclusive to draw any clear framework on what works.
We know a complete cloud adoption is a distant future for Indian Healthcare Industry. But the current plan offers a bridge between the two, as we wait for the future to evolve.
We are catching up with the present, providing them what they are comfortable with as we wait for the future market to evolve..
I would be keen to know your experiments & learnings on such lines.
This is the eighth part of a series by the author. Find the previous post here.
[About the Author: Shashi Bhushan is the Founder & CEO of HealthMacro Technologies. He plunged into entrepreneurship to explore his dream of building something that touches people’s lives. HealthMacro were TiE’s Anthah Prerana 2013 winners. He can be followed on twitter at @ShashiBhushanHR]