In this episode of the How I'm Building This Podcast, Prateek interviews Matt Wilson, founder of uMed, who shares his journey from being a physician in the UK to becoming an entrepreneur in the healthcare sector. He discusses the challenges of accessing patients for research, the importance of hiring the right talent, and the strategies uMed employs to maintain a competitive edge in a crowded market. Matt emphasizes the significance of building relationships in the US market and the metrics that gauge the health of his business. He also provides insights into effective marketing strategies and the value of ambassador programs while cautioning against following trends without critical evaluation.
Takeaways:
- Matt's background as a physician shaped his entrepreneurial journey.
- Creating system change in healthcare is essential for patient access.
- Hiring should focus on independence and proactive problem-solving.
- Building relationships is key to success in the US market.
- uMed aims to provide rapid high-quality data for research.
- Understanding customer value is crucial for maintaining a competitive edge.
- Metrics should include deal value, not just deal volume.
- Ambassador programs can effectively drive business growth.
- Setting clear expectations with ambassadors is vital.
- Trusting your instincts amidst external advice is important for founders.
Sound Bites:
- "Hiring is by far the most critical job of a CEO."
- "We need to hire people and we need to make decisions."
- "We're incentivizing people to help us get a deal."
In this episode, we cover:
00:00 Introduction to Matt Wilson and UMed
02:40 Matt's Journey from Medicine to Entrepreneurship
05:32 The Importance of Hiring in Startups
14:41 UMed's Mission and Problem Solving
21:59 Building Relationships in Business Development
25:22 Maintaining Competitive Edge in a Crowded Market
27:08 Key Metrics for Business Health
29:31 Marketing Strategies for UMed
34:55 Advice on Building an Ambassador Program
38:27 Navigating Advice and Trends in Startups
Where to find Matt:
LinkedIn: https://www.linkedin.com/in/drmattwilson
uMed: www.umed.io
Where to find Prateek:
LinkedIn: https://www.linkedin.com/in/prateekmathur
Activated Scale: https://www.activatedscale.com
For inquiries about sponsoring the podcast, email prateek@activatedscale.com
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