Healthcare Entrepreneur Academy Podcast

Want to learn how to leverage your healthcare knowledge to start or grow a business? The Healthcare Entrepreneur Academy podcast presents interviews with real-world healthcare entrepreneurs and other leading business experts. On each interview episode, your host Jason A. Duprat will deconstruct each guest's playbook for success so that you can learn ideas, strategies, and insights that will help you on your entrepreneurial journey. You can follow Jason's personal entrepreneurial journey on his bite-sized "Tactical Tuesday" solo episodes!

#168: Tactical Tuesday: The Pros & Cons of Having a Business Credit Card 03/02/2021

#168: Tactical Tuesday: The Pros & Cons of Having a Business Credit Card OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast presents the pros and cons of having a business credit card. If you choose to have one, he provides tips on how to use the card wisely. EPISODE HIGHLIGHTS: Jason shares an example of someone who funded their startup with a business credit. He changed his mind on the business and presumed he wouldn’t be held personally responsible for the debt. He was wrong. To open a business credit card, an officer is required to sign a personal guarantee which makes him/her liable for business expenses. There’s a clause in the contract stating this. Jason explains the differences between a small business credit card and a corporate credit card. A corporate credit card is more difficult to set up but it holds only the business liable for expenses versus the person. There are revenue requirements to set up a corporate credit card - $4million in gross revenue. Only C corps and S corps can apply - not LLCs. The great value business credit cards provide is their point system. Jason’s Chase Preferred card offers 3 points for every $1.00 he spends. For example, if he spends 10k in a year, using the 3-point system, that’s 30k points or $300 in cash value. Divide your credit card points by a hundred to get an estimate of its value in gift cards or if you were to cash it out. Set up reminders for your credit card payments to avoid paying interest. Jason advises not to trade interest for points. 3 KEY POINTS: You’re personally liable for your business credit card transactions even if you’ve shut down your business. Pay off your credit card payments in full and on time to avoid getting hit with interest charges. There are benefits to using credit cards. For example, you can cash out accumulated points or use them for gift cards or travel expenses. TWEETABLE QUOTES: “If you’re responsible and you’ve proven you have a great track record of financial and fiscal responsibility, go for it [a credit card]. Get the extra rewards.” - Jason Duprat “Be wise, be smart and be honest with your business transactions.” - Jason Duprat RESOURCES: Chase Ink Business Card: Dave Ramsey’s website: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #creditcard #businesscreditcard #fiscalresponsibility /episode/index/show/healthcareentrepreneuracademy/id/18131054

#167: Dr. Turner Osler: Designing Chairs to Make you Move 02/25/2021

#167: Dr. Turner Osler: Designing Chairs to Make you Move OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast speaks with Dr. Turner Osler, CEO and Founder of QOR360, a company specializing in active seating products for homes, offices and schools. Dr. Osler talks about how his chair designs help alleviate the problems caused by sitting. He also discusses his plans for educating a new generation on active sitting while supporting an ageing population with back pain. EPISODE HIGHLIGHTS: Dr. Osler’s background includes being an academic trauma surgeon, as well as a research epidemiologist with more than 300 peer-reviewed publications. He believes Western medicine profoundly doesn’t understand back pain. Our health challenge is based on the fact we often slump in our chairs for eight hours. As a result, our biochemistry suffers greatly. Dr. Osler believes sitting is a catastrophe and everything is better when we’re moving. QOR360 is profoundly influencing public health through it’s chair designs requiring movement. Designs are based on research studying the effects of sitting and the absence of physical activities. To address scalability, QOR360 utilizes off-the-shelf office chair components. They source materials and manage assembly in Vermont. The company’s target audience includes people who are into body mechanics and posture, and people with back pain. The company is in the business of chairs to keep people moving and to change the way we sit. Dr. Osler is partnering with an entrepreneur on his patent process. The Button Chair is designed specifically for kids and is made with lacrosse balls. 3 KEY POINTS: Find the problem, identify your target market, come up with an idea and work on it. Work on prototypes to make a better version of the product. Be open to modern ways of marketing and working with young people. Always remain adaptable to change. TWEETABLE QUOTES: “It helps to have a skill set that sort of relates to the problem.” - Dr. Turner Osler “People fail because we do not like to be told on what to do.” - Dr. Turner Osler RESOURCES MENTIONED: QOR360 Website: Generator on Facebook: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #backpain #chronicpain #chairdesign #innovation #activeseating /episode/index/show/healthcareentrepreneuracademy/id/18068858

#166: Tactical Tuesday: Are You a Creator, Controller or Owner? 02/23/2021

#166: Tactical Tuesday: Are You a Creator, Controller or Owner? OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks about how to create wealth in today’s economy, including the two ways to do this and the three types of people who create wealth through their assets. EPISODE HIGHLIGHTS: The right way to create passive or semi-passive wealth is to create multiple assets vs trading your time for money or ‘working your ass off.’ There are three categories of people with assets: creators, controllers, and owners. Creators generate revenue using their mind to build or create something. Examples include online courses, coaching and consulting in a group setting, intellectual property and white label services. Controllers generate revenue through syndication - in other words they don’t own the assets but they control them. Examples here include managing an Airbnb, affiliate marketing and drop shipping. Lastly, owners generate revenue through ownership of real estate. Property examples include car washes, storage rentals, laundromats, Redbox and rental properties. The sharing economy is taking a liability and turning it into an asset, like renting out your background, pool, barn or garage for an event. Peer-to-peer lending, often referred to as social lending, connects people or entities who are willing to loan money with people who need to borrow money. To craft wealth, change your mindset from consumer to employee. Think like an entrepreneur or producer vs consumer. 3 KEY POINTS: Create passive or semi-passive income through multiple money-making assets vs based on the hours you work. There are three categories of people with assets to accelerate wealth growth: creators, controllers and owners. Leverage your time to accelerate growth. TWEETABLE QUOTES: “If you’re making it (money) with your ass, you’re trading your time for dollars...the only way that you can make a dollar is to sell hours of your skills and life to an employer,and that is extremely limited.” - Jason Duprat “Basically, you can take what used to be your liability, something that used to be a cost to you, and help either reduce the liability or just flat out turn it into an asset. This is called the sharing economy.” - Jason Duprat “You do not have to be on the consuming end. If you are on the producing end, if you’re adding value to people, that’s where the real wealth is generated. That’s how you become wealthy in today’s economy.” - Jason Duprat RESOURCES MENTIONED: Hip Camp Website: Spacer Website: Turo Website: Lending Club Website: Street Shares Website: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #createwealth #generatewealth #accelerategrowth /episode/index/show/healthcareentrepreneuracademy/id/18050711

#165: Brett Swarts: Negotiating, Finding Value & Making Deals 02/18/2021

#165: Brett Swarts: Negotiating, Finding Value & Making Deals OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast speaks with Brett Swarts, founder of Capital Gains Tax Solutions and the host of the Capital Gains Tax Solutions Podcast. Brett talks about how he first learned about Deferred Sales Trust strategies and how they provide value, particularly for reducing taxes when selling real estate and businesses. EPISODE HIGHLIGHTS: A Deferred Sales Trust is when you defer capital gains tax when selling real estate or a business. You sell your assets to the trust with an installment sale. Brett first learned about Deferred Sales Trusts from Marcus & Millichap, a commercial property company. It was his ‘aha boom’ moment. Certain types of real estate offer the best risk-adjusted rate of returns. They include multi-family housing, assisted living and mobile home parks. Depreciation allows you to offset income coming in. To provide an understanding of roles in the investment world, Brett shared this analogy. Think of a CPA as a GP (general practitioner) and a Deferred Sales Trust expert as a surgeon. Brett recommends selling high and buying low. The key is to be patient and disciplined when seeking these opportunities. A large wealth transfer is coming. Baby boomers are looking for exit plans using Deferred Sales Trusts to passively manage their money while allowing them to retire with peace. There are different kinds of trusts such as business trusts, standard trusts and living trusts. They allow you to pass your assets to your family. A Charitable Remainder Trust is tax-exempt. Beneficiaries receive their income and the remainder goes to charities. Brett’s company is focused on managing Deferred Sales Trusts and turning them into an investment rather than an expense. 3 KEY POINTS: Cashflow can create passive income. Structure and systemize your business to become a passive (or semi-passive) income source. A wealth transfer from baby boomers to millennials is coming. Deferred Sales Trusts will allow baby boomers to turn their liabilities into investments while keeping a passive income. If you’re looking for an exit plan, consider a trust and how it can help you convert your Deferred Sales Trust into an investment. TWEETABLE QUOTES: “We can make and break money, we can make and break businesses, we can go earn a high income but at the end of the day, we’re all given the same denominator, which is time.” - Brett Swarts “Sell high and buy low.” - Brett Swarts RESOURCES MENTIONED: Capital Gains Tax Solutions website: Brett Swarts on LinkedIn: Capital Gains Tax Solutions LinkedIn: Capital Gains Tax Solutions Podcast: Capital Gains Tax Solutions YouTube: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #investment #realestate #passiveincome /episode/index/show/healthcareentrepreneuracademy/id/17962184

#164: Tactical Tuesday: Systematizing Multiple Streams of Revenue 02/16/2021

#164: Tactical Tuesday: Systematizing Multiple Streams of Revenue OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks about how you should approach creating multiple streams of revenue to set yourself up for success as you expand your business. EPISODE HIGHLIGHTS: When you're creating multiple streams of revenue, there are two important factors to consider - timing and sequencing. If you pursue multiple streams simultaneously, none will work. Avoid pulling yourself into different directions. Focus on your primary business first before trying other ventures. Think in a step-wise fashion to improve your odds for success. Be sure to have processes, systems and teams in place before expanding into new revenue streams. Jason references Elon Musk and how he built his companies through momentum and systemization. When adding new streams of revenue, add a passive stream to ensure you're not physically needed so you can concentrate on new ways to expand your business. Stay focused on creating a profitable and sustainable business. Be conscious of your energy, time and money. These are your top three personal resources. The average millionaire has seven streams of income, however, not all of them are active. 3 KEY POINTS: Creating multiple streams of revenue is a critical step in entrepreneurship. It requires energy, time and money. Focus on your primary business. Build it from the ground up and then invest in different streams of revenue. Find a way to systemize your streams and source passive income. Always think in a step-wise fashion. Strategize and use your resources wisely. Be in control of your next steps forward. TWEETABLE QUOTES: “Momentum is what will propel you to generating each additional stream of revenue.” - Jason Duprat “The beauty of entrepreneurship is that everything is in your control.” - Jason Duprat RESOURCES: HEA Facebook Group for Digital Businesses: HEA Facebook Group for Bricks & Mortar Businesses: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #revenuestreams #revenuegeneration #passiveincome /episode/index/show/healthcareentrepreneuracademy/id/17961656

#163: Alesia Quante: Creating a 1099 CRNA Success Community 02/11/2021

#163: Alesia Quante: Creating a 1099 CRNA Success Community OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast speaks with Alesia Quante, CRNA, career coach and educator for aspiring 1099 CRNAs. Alesia talks about her entrepreneurial journey from living on a sailboat and working as a travel nurse to pursuing her career as a CRNA and launching her online course. She highlights the pros of being a 1099 and the associated opportunities and freedom it provides. EPISODE HIGHLIGHTS: The opportunity to become a 1099 CRNA allows flexibility while creating and managing your practice. As a 1099 CRNA, you’re dipping your feet into entrepreneurship. You’re in charge of managing your schedule, billing, taxes, healthcare benefits and setting up your business as an LLC or an S corp. The flexibility in this field is what makes it great. As an independent contractor, you can open an HSA which gives you power over your income. There’s a big learning curve when you transition from a W2 to a 1099 CRNA, however, the return on investment is astounding. For example, you can deduct health insurance premiums from your gross income. You can also deduct car payments. Alesia started her 1099 CRNA Freedom Masterclass to help nurses interested in transitioning into a 1099. Alesia was a student in Jason’s Course Creator Academy beta program. She highlights the benefit of the course, including the key components and tools she needed to take her own online beta courses to greater heights. Your first online course isn’t going to be perfect. Take the feedback and use it to improve the next one. The most important thing is to provide value to your students. Evergreen courses allow you to generate sales passively. Students can enroll 24/7/365 so you have a consistent revenue stream. . Alesia shares her passion for reaching out to aspiring 1099 CRNAs and empowering them to start their own business. Alesia advice is to move ahead, keep breathing and take it step by step. She also believes self branding is self affirmation It provides an inner smile so take time to celebrate yourself! 3 KEY POINTS: A 1099 CRNA is an independent contractor and a business owner. It allows you to have freedom while still practicing as a CRNA. You can obtain multiple state licenses and practice wherever you want, giving you power over your income. Transitioning from a W2 to 1099 CRNA has a learning curve. As an independent contractor, you need to learn the ropes, including billing, managing your business and setting up HSAs. Find a mentor who can help you shorten the learning curve. Creating online courses isn’t a walk in the park. You need to learn how to make your courses, funnel interested students and monetize the course. You should acquire the proper tools and find a mentor. TWEETABLE QUOTES: “(On being a CRNA) Having your own benefits is what gives you mobility from job to job.” - Alesia Quante “The power (of creating courses) is incredible and it’s so much fun to talk to people about what you’re really passionate about.” - Alesia Quante RESOURCES MENTIONED: Alesia Quante on Facebook: Alesia Quante on Linkedin: Email Alesia at [email protected] 1099 CRNA Success Community Group on Facebook: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #onlinecourses #crna #1099 #nurse #nursing /episode/index/show/healthcareentrepreneuracademy/id/17858450

#162: Tactical Tuesday: Are you an aspiring entrepreneur burdened with student loan debt? 02/09/2021

#162: Tactical Tuesday: Are you an aspiring entrepreneur burdened with student loan debt? OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks about how - and if - you should start a business when you have student loan debt. EPISODE HIGHLIGHTS: In the US, student debt totals 1.6 trillion dollars. The average student graduates with just under 38k in student loans. And 15% of the US population currently has student loan debt. Over the last 30 years, tuition has tripled for public universities and doubled for private schools. 31% of students are using other forms of debt like a credit card or home equity loan to help offset high tuition. Jason shares five tips for those struggling with student loans yet still want to launch their business. First, choose your institution wisely. As a student, think about the return on your investment! Don’t just pick the most expensive school. The odds of getting your money back, especially in the healthcare field, is relatively low. Second, make sure you’re paying the least amount of interest as possible after you graduate. Consider loan consolidation. Also, there are governmental loan forgiveness programs. They often have a strict contract so make sure you can commit to avoid penalties. Next, reduce the amount you owe. Jason joined the Navy Reserves and reduced his loans by 30k. This has its pros and cons, which you should consider when looking for new opportunities to repay your debt. Fourth, spend wisely and live lean. Self-discipline and self-control is a must to avoid ballooning student loans. Live well below your means and don’t make expensive purchases like a new car or home. Fifth, figure out a way to earn more. Work overtime and apply extra payments directly to your principal vs interest. Pick up a PRN job, which offers great flexibility and pays 25-50% higher than normal salaries. After following these five tips, you can then think about launching your business. Cash flow problems are the major cause of business failures. Start lean and if possible start with a partner who can share expenses with you. Humble yourself. Start small and also consider online options, which have little to no startup costs, such as courses and books. Once launched, and if possible, consider reinvesting your earnings vs paying off your student debt. This might allow you to move to a second business more quickly with a higher growth model. 3 KEY POINTS: There’s a huge student loan problem in the US which affects almost 15% of the population. Rising tuition fees force students to take on huge debt and binds them to repayment for most of their careers. Jason’s tips for aspiring entrepreneurs dealing with student loans are to invest on your education wisely, reduce interest in your payments, live lean, spend wisely, and figure out how to earn more. After everything, start your business wisely. Start smart and look for ways to reinvest your money to earn more. There are many business opportunities today that require little money to start. TWEETABLE QUOTES: “Choose your degree wisely, choose your school wisely, and choose it based on your return on investment.” - Jason Duprat “The key is to get started…start up lean, reinvest your earnings and keep pushing forward.” - Jason Duprat RESOURCES: HEA Facebook Group for Digital Businesses: HEA Facebook Group for Bricks & Mortar Businesses: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #studentloans #studentdebt #highered #loanconsolidation /episode/index/show/healthcareentrepreneuracademy/id/17858345

#161: Pek Pongpaet: A Thirst for Knowledge; A Passion for Creating 02/04/2021

#161: Pek Pongpaet: A Thirst for Knowledge; A Passion for Creating OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast speaks with Pek Pongpaet, Founder and CEO of Impekable, a design-driven digital product studio based in Silicon Valley. Pek provides an overview on software development, along with useful tips for those looking to develop their own software. Pek also discusses his involvement with Mortal Kombat and martial arts. EPISODE HIGHLIGHTS: Pek talks about his software experiences including being self-taught, his pursuit of software design and learning about the importance of sales and marketing. Computer engineering and computer science are completely different fields. Computer engineering is focused on hardware while computer science deals with programming and software. Designing and building go hand-in-hand with sales and marketing. Creating a product without a need in the market makes it irrelevant. Pek prefers to work with enterprise software because it offers a greater return on money. Talk to your customers and get them involved. Take tips and opinions from them to build a solution that truly caters to their market. Presales serve as a great validation for your product. There are several apps that let you conceptualize and design your software - one example is Adobe XD. Before you build and create your software, engage a designer to get a general idea of the software’s design and feel. Wireframing is part of the design process; it’s the blueprint of your software. When reviewing firms for partnerships, compare pricing and evaluate different approaches to the problem. Pek shares his time working as a motion capture actor for Mortal Kombat, a popular fighting video game. 3 KEY POINTS: Building software is not easy. Before designing and building software, seek validation from your target market. Invest in a team that can help you conceptualize, design, create and market your software. When looking for a software firm, you have options. Analyze pricing, and most importantly, evaluate different approaches for your idea. Don’t be in a hurry to build your software and look for the firm that fits your vision. TWEETABLE QUOTES: “You should design the solution first before you start building it (your product).” - Pek Pongpaet “(On building software )Instead of building everything from scratch, buy as much as possible that’s already made and assemble it.” - Pek Pongpaet RESOURCES MENTIONED: Pek Pongpaet on Linkedin: Pek Pongpaet on Twitter: Pek Pongpaet on Instagram: Impekable website: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #softwaredevelopment #softwaredesign #softwaresolutions #digitalproducts #mortalkombat /episode/index/show/healthcareentrepreneuracademy/id/17763245

#160: Tactical Tuesday: How to Build Audiences, Authority & Connections 02/02/2021

#160: Tactical Tuesday: How to Build Audiences, Authority & Connections OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks about how to become a guest on a podcast show. He also discusses the benefits of being a guest, including building your authority in your area of expertise, growing your audience and developing connections. EPISODE HIGHLIGHTS: Being on a podcast show is similar to appearing as a guest on a YouTube channel or writing a guest blog post. It allows you to reach new audiences. Jason has five tips for becoming a guest on a podcast show. First, you must have the ability to speak well and articulate your message. Send links to your prior speaking engagements to demonstrate your skill when soliciting guest appearances. Help the host deliver an interesting show. Do your homework before appearing and be prepared to weave in stories. Second, build your network in your space. Referrals from your acquaintances allow you to connect via a warm introduction versus a cold call. One of the ways Jason sources guests for his show is through previous guest recommendations. Next, find other podcast episodes that resonate and take notes. Deconstruct the copy and take forward what you learn. Fourth, create a list of podcasts you want to appear on and work your way up the list by starting with smaller shows first to get experience. Lastly, drop your ego at the door. Take time to be thoughtful when filling out forms and be open to pre-interviews. Be mindful when you send emails asking to be a guest on a show. Avoid generic jargon and cookie cutter responses. Put the effort in to study those who are great. Listen repeatedly and take notes. 3 KEY POINTS: The more you put yourself out there, the more your audience and network will grow. Work on your ability to speak well, build your network and nail your early guest appearances. Don’t be a prima donna! Answer forms and fill out applications thoughtfully. This will help you come across as someone dedicated and eager to provide value to the show’s audience. TWEETABLE QUOTES: “Study those who are great.” - Jason Duprat “If you focus on getting on more shows, you’re going to be able to build your audience, your authority and your connections.” - Jason Duprat RESOURCES: HEA Facebook Group for Digital Businesses: HEA Facebook Group for Bricks & Mortar Businesses: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #podcastguest #buildauthority #audiencegrowth #leverageconnections /episode/index/show/healthcareentrepreneuracademy/id/17763185

#159: Daniel Stanton: Innovate, Compete & Create Consistency 01/28/2021

#159: Daniel Stanton: Innovate, Compete & Create Consistency OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast speaks with Daniel Stanton, Founder and CEO of Now Optics. Daniel talks about his early work experiences in the optical industry and they helped him transition to entrepreneurship. Daniel shares an overview of Now Optics and the value of telehealth, and also discusses the connection between technology, innovation and passion. EPISODE HIGHLIGHTS: Daniel shares his professional journey, including how he got started in the optical industry and his passion for entrepreneurship. Creating consistency in a retail environment is the key to success, particularly across regions, states and territories. Surround yourself with great people. Build a team that shares the same beliefs and goals. Get them to join your chaos! Daniel discusses the launch of Now Optics and how he took lessons from his previous management and sales roles to create and implement innovation in his current business. Starting a business requires resources and smart decisions. Daniels’s vision for success is focused on expansion and growing the brand. Innovating and maintaining a cost-efficient way of delivering to customers has helped scale his business and reduce costs. Telehealth has become a great innovation in the healthcare industry, aligning technology with medicine to provide quality service for patients. The journey is the success - learn from folks in the trenches and be a student of osmosis. 3 KEY POINTS: The healthcare industry is booming and launching ventures in this field will deliver great gains. Daniel emphasizes the need for a customer-focused approach and consistency. Focus on your business’ expansion and branding. Spending money on a lavish office and other expenses that will bring zero return is not the right way to scale. With the pandemic, there’s a huge need for telehealth within the healthcare industry. This elevates technology and patient care to a new level while ensuring patient and provider safety. Telehealth is a big step towards providing quality care and a big venture arena entrepreneurs can explore. TWEETABLE QUOTES: “In my view, if I had to measure success, it’s the fun and effort throughout the journey.” - Daniel Stanton “If you’re always focused on the customer then you’re always going to make the right decisions.” - Daniel Stanton RESOURCES MENTIONED: Read about Daniel Stanton - My EyeLab website - Now Optics website - #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #innovation #innovate #consistencyiskey #teambuilding #telehealth /episode/index/show/healthcareentrepreneuracademy/id/17672102

#158: Tactical Tuesday: Will Apple's Latest Update End the Era of Facebook Ads? 01/26/2021

#158: Tactical Tuesday: Will Apple's Latest Update End the Era of Facebook Ads? OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks about the impact of Apple’s latest IOS 14 software update, particularly when it comes to digital marketing using Facebook and Google ads. EPISODE HIGHLIGHTS: Apple’s latest IOS 14 update, released in mid January, will have a great impact on businesses who rely on Facebook and Google ads for revenue generation. The update will directly impact collecting and tracking user data - the primary feature of online ads for prospect and customer targeting. This will affect small businesses who rely on Facebook ads to track ROI and it will affect Facebook’s bottom line as well. Apple is responsible for 55% of all web traffic. Currently, Facebook helps advertisers target a specific group of people within a particular market. With the new update, tracking the return on ads and conversions will become almost impossible. The mandatory Apple update will prompt users to agree to their data being shared. A 50% drop in revenue could be observed for small businesses once this update is released. In addition, ad tracking attribution will go from 28 days to 7 days, greatly reducing the time you have to convert prospects into customers. This could have a trickle-down effect on other web applications and phone operating systems. If you rely on ads for revenue generation, there are steps you can take to be proactive. Verify your domain with Facebook. Turn on conversion KPIs on Facebook Ads Manager. And keep an eye out for Facebook’s potential workaround - Aggregated Events Measurement, allowing you to track your own data. Another potential workaround is using external software, such as HYROS, to track customer data for you. 3 KEY POINTS: Apple makes up 55% of all web traffic and the changes they make will have a great impact across all platforms, particularly Facebook. The new IOS 14 update will eliminate collecting and tracking user data if Apple users agree to the prompt. The update will greatly affect Facebook’s ability to target specific markets and track ROI, and limit their Adsense program as well. There are a few workarounds you can do. Start by verifying your domain with Facebook. Turn on conversion KPIs on Facebook Ads Manager. And consider using third-party software to track your ads. TWEETABLE QUOTE: “There’s a lot of businesses out there that generate 100% of their revenue from Facebook ads. This is going to be a big change for a lot of people.” - Jason Duprat RESOURCES: HYROS Software - #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #appleupdate #facebookads #googleads #onlineads #onlinemarketing #digitalmarketing #smallbusiness /episode/index/show/healthcareentrepreneuracademy/id/17671631

#157: Shane Foss: Innovating Healthcare in a Small Population Niche 01/21/2021

#157: Shane Foss: Innovating Healthcare in a Small Population Niche OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast speaks with Shane Foss, Founder and CEO of Hooray Health - a health insurance company addressing the needs of the underinsured and uninsured by making health care coverage simple, accessible and affordable. He highlights the importance of finding the right people, networking and evaluating businesses for purchase. Shane also discusses sales and how his experiences have helped him along his entrepreneurial journey. EPISODE HIGHLIGHTS: Mentoring is important in entrepreneurship. Finding the right people can be hard. Putting yourself out there and finding the right mentor can deliver ROI on your company’s ability to grow. Shane highlights his time in the military and how this helped him decide to go into sales. Picking the right people is everything, especially when it comes to sales management and general management roles. Shane’s sales experience taught him the importance of listening. This includes answering the actual question and directly addressing the issue at hand. Selling a product or providing a service requires full honesty. Providing value to your customers is always the number one priority. Sales is a part of your professional life as an entrepreneur. Trust and invest in your salespeople in order to achieve success. Shane talks about the key characteristics when it comes to hiring salespeople - including the use of Gallup, looking at track records and having good communication skills. Ask them what success looks like and look for people that aren’t held back by limitations. When it comes to buying businesses, Shane is an expert. His advice? Focus on networking, talking to the right people and finding the courage to create purchase opportunities. When evaluating a business to purchase, keep improvement and growth in mind. Analyze the financials and make sure things are consistent. Shane provides an overview on Hooray Health, including how the company works and features of the company like fixed pricing and policy starting costs. The barrier to entry is very low for his product and he’s focused on helping the hourly population. Shane highlights network provider benefits which includes three level reimbursement within seven days. The focus of Hooray Health is to be part of the solution in healthcare and he’s expanding the national footprint for the company. His focus is on the retail, retirement and food industries. Shane states many people complain about healthcare and innovation is difficult. His goal is to be innovative in a small population niche. 3 KEY POINTS: Entrepreneurship is not a walk in the park. Starting out can be tough and finding the right mentor to help guide you towards the right path will reap rewards in the long run. In sales, and entrepreneurship in general, it’s important to pick the right people, listen and address issues, and value honesty. Selling a product isn’t easy but these pointers will help you create a good foundation for you and your company. Shane’s advice for anyone who wants to sell or buy a business is networking - talking with the right people and creating opportunities. Look for people who want to retire and sell a business. In most cases, these businesses provide great financial value and are stable and scalable. TWEETABLE QUOTES: “Sales is sales but there’s a lot more to it than most people think.” - Shane Foss “As a salesperson, 99% of the time you’re failing. You have to be able to accept failure and what you do with failure is what’ will make you successful.” - Shane Foss RESOURCES MENTIONED: Shane Foss on Linkedin - Hooray Health website - Hooray Health on Linkedin - #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #sales #salesstrategy #mentoring #networking #healthinsurance /episode/index/show/healthcareentrepreneuracademy/id/17584580

#156: Tactical Tuesday: 3 Ways to Attract Top Talent: Autonomy, Title & Flexibility 01/19/2021

#156: Tactical Tuesday: 3 Ways to Attract Top Talent: Autonomy, Title & Flexibility OVERVIEW Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks about how to attract the top talent to your team when starting or running a new business. EPISODE HIGHLIGHTS: If you’re launching or starting a new business, building a team of talented people is important for growth. When you have a great team, you can deliver great products and service. When it comes to hiring new employees, position the benefits of working for your company, especially if you can’t offer a big salary. Three key features you can offer and promote include autonomy, title and flexibility. One advantage of working for an entrepreneur is autonomy - often not found in the corporate sector. There are layers, meetings and bureaucracy you have to go through with larger entities in the corporate world. Talented people want room to grow and the ability to make decisions. This includes managing budgets and teams, as well as being able to create and come up with solutions. When employees can make decisions, they feel empowered and have a sense of pride in their work. Another perk you can promote is providing a title. This boosts morale and can serve as a stepping stone for your employees further down the road if they decide to pursue other opportunities. Lastly, you can also highlight flexibility. Flexible hours help your employees improve their work-life balance. Beyond hours, flexibility can also include working remotely and having time to take vacations. If you want to attract the top talent to your team, verbalize, communicate and market the benefits of working for your new business. Do this across all channels including job boards, your website and during interview questions. Hiring the top talent allows you to take your business to the next level. 3 KEY POINTS: When starting a new business, a key growth component is building a capable team. In order to attract talented employees, provide simple benefits that in turn, will boost morale and pride. There are three benefits you can provide in order to attract talented people: autonomy, a title and flexibility. Taking care of your people is the most important thing in entrepreneurship, and if you keep your people in mind, your company's growth is just about guaranteed. TWEETABLE QUOTE: “People want autonomy. They want room to grow. They want the ability to make decisions.” - Jason Duprat RESOURCES: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #newbusiness #hiretherightpeople #empoweredemployees #successfulstaff #teambuilding #growthstrategy /episode/index/show/healthcareentrepreneuracademy/id/17584529

#155: Michele Wucker: What’s Your Gray Rhino? 01/14/2021

#155: Michele Wucker: What’s Your Gray Rhino? OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast speaks with Michele Wucker, Founder and CEO of Gray Rhino & Company. Michele is the author of the book, ‘The Gray Rhino: How To Recognize And Act On The Obvious Dangers We Ignore.’ She coined the term to mean the big, scary thing coming right at you. She also established five reaction stages to the Gray Rhino. EPISODE HIGHLIGHTS: Michele talks about her transition into writing and her amazing experiences, which included writing about a coup in Haiti. The Gray Rhino is a metaphor for something big, obvious and scary headed right for you, forcing you to take action. It’s big, obvious and it will do damage, however, you have options on how to manage it. This is a very different concept from the ‘Black Swan,’ which is when you’re knocked over by something you can’t even imagine or consider. And the ‘Elephant in the Room’ is when you see something, yet no one in the room says anything about it. Currently, there’s a triad of Gray Rhinos in the US economy which includes financial fragilities, inequality and climate change. There are steps you can take to avoid the Gray Rhino. Start by recognizing your vulnerability. Then foster proper awareness in order to take the appropriate response. Michele shares a five-stage framework to help companies recognize how they’re reacting to these threats. They include: denial, muddling, diagnosing, panic and action. Sometimes you might take action yet you don’t get the result you want. Track and adjust what you’re doing. Just because you’re taking an action, this doesn’t mean you’re solving the actual problem. Analyze where the key stakeholders are to change the situation. Focus on accountability, yourself and dealing with uncomfortable things. Everybody has a role to play; the Gray Rhino is the key to prevention. Bring in people to help you recognize how decisions are made in your company. Michele talks about her upcoming book and how diversity and the cultural environment around your business allows you to become more sensitive to risks. 3 KEY POINTS: In the current US economic state, entrepreneurs should be more aware of the Gray Rhinos in order to manage upcoming financial risks. There are things you can do to dodge the Gray Rhino - recognize your vulnerability, foster awareness and formulate a smart response. Your reaction to the Gray Rhino falls under a five-stage framework - denial, muddling, diagnosing, panic and action. It’s important to track these stages and adjust your actions accordingly. TWEETABLE QUOTES: “(On the Gray Rhino) It’s high impact, it’s obvious and it gives you a challenge.” - Michele Wucker “The Gray Rhino is a challenge to be accountable - when you see a big scary problem coming right at you.” - Michele Wucker RESOURCES MENTIONED: Michele Wucker on Linkedin: Michele Wucker’s website: Michele Wucker on Twitter: The Gray Rhino and Company website: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #riskassessment #riskmanagement #TheGrayRhino /episode/index/show/healthcareentrepreneuracademy/id/17510612

#154: Tactical Tuesday: When Should you Discharge an Angry Customer? 01/12/2021

#154: Tactical Tuesday: When Should you Discharge an Angry Customer? OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks about the best way to manage irrational and overly demanding customers. EPISODE HIGHLIGHTS: When you own a business, complaints are something you can’t escape. There are ways you can manage angry customers while maintaining the integrity of your company. Be empathetic and listen to what unsatisfied customers are saying. Put yourself in their shoes and really listen to the core reason behind their complaint. Unhappy customers are louder than happy customers. They’re going to make more noise. Always try to resolve the situation before it gets worse. Managing customer expectations, especially customers who escalate easily, can be correlated to the price of your product or service. Minimize the opportunity to complain. If your costs are higher, you’ll attract a higher quality customer. Believe it or not, sometimes the customer isn’t always right. Don’t be afraid to discharge them from your business. Jason shares his former general manager’s philosophy and how it resolved sticky situations in the past. Don’t feel guilty about taking charge and putting a stop to irrational and insistent customers. 3 KEY POINTS: No matter what business you’re in, there will always be customer complaints. As an entrepreneur and business owner, you must be able to resolve these as quickly and efficiently as possible. Being empathetic with your customers and listening to them will improve your services in general. Listen, learn and apply the critical points you glean into your business’ customer service best practices. There’s a relationship between the quality of customers you get and your price point. Price your product or service accordingly in order to avoid irrational customers. TWEETABLE QUOTES: “Unhappy customers are louder. They’re gonna make more noise than a hundred happy customers.” - Jason Duprat “Discharge your irrational customers, because at the end of the day, it’s not worth it - as long as you know you did everything right.” - Jason Duprat RESOURCES: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #customerservice #customercare #manageexpectations #customersatisfaction /episode/index/show/healthcareentrepreneuracademy/id/17493410

#153: Lonny Stormo: Changing the Experience of Measuring Blood Sugar 01/07/2021

#153: Lonny Stormo: Changing the Experience of Measuring Blood Sugar OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast speaks with Lonny Stormo, CEO and Co-Founder of POPS! Diabetes Care, a digital health startup. The company creates and delivers solutions to help people manage their diabetes. Lonny strongly believes the future of healthcare is about democratizing the industry and putting simple technology into consumers’ hands. EPISODE HIGHLIGHTS: Finding motivation within a bigger company is all about creating impact especially in the healthcare sector. Lonny talks about his decision to pursue an MBA program and how his degree has helped him manage employees. Getting an MBA isn’t a requirement for becoming an entrepreneur, yet it’s helpful particularly for accounting and finance. POPS! started out as a passion project to innovate the experience of measuring blood sugar using your smartphone. Mina is an AI coach, a virtual care companion, within the app. Mina guides users with their diabetes management and checking blood sugar levels. Lonny talks about software development and how he talked with people to learn why they don’t use health management apps despite the huge demand for them. One of the primary reasons was the burden was greater than the benefit. As a result, POPS! included light coaching and personalized the app based on motivation - a critical factor in digital therapy and digital health. Lonny shares his opinion on outsourcing and how their hybrid model of outsourcing works. Launching an app can be daunting. Submitting your application to Apple and Android for them to review can be challenging. Having an expert developer on your team can help you navigate these challenges with greater ease. Insurance companies are starting to recognize digital health applications. Mina helps connect with healthcare and insurance companies. Having a good business idea is completely different from selling it. Marketing and selling your product is where the real work starts. Finding the right advisors is critical to move your business forward. 3 KEY POINTS: The keys to successfully starting a business include proper planning, conducting research or testing, and having the right business model. Think about your selection process for software developers. Conduct ongoing R&D to update your product or service regularly. Take time to plan and strategize on how to market your products and then invest in these strategies. TWEETABLE QUOTES: “I remember one of our advisers saying, “You know that check for $10,000.00 is worth $10,000,000.00 in publicity.” That’s what you can do by winning these competitions.” – Lonny Stormo “Management, to me, is about people…’lots of times, management can get too focused on things like strategy, finance, and so forth, but the whole psychology piece to this – how you deal with people, how you help people grow - is the most important point of an MBA.” – Larry Stormo RESOURCES MENTIONED: POPS! Diabetes, Inc. Website - Lonny Stormo LinkedIn - #HealthcareEntrepreneurAcademy #healthcare #entrepreneurship #entrepreneur #diabetes #digitalhealth #digitalstartup #technology /episode/index/show/healthcareentrepreneuracademy/id/17451314

#152: Tactical Tuesday: 7 Tips for Mitigating Data Breaches & Hacks 01/05/2021

#152: Tactical Tuesday: 7 Tips for Mitigating Data Breaches & Hacks OVERVIEW Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks about why your business should get cybersecurity insurance and different ways to mitigate risks when it comes to your business’ data being hacked or stolen. EPISODE HIGHLIGHTS: Are you taking the right security measures when it comes to protecting yourself and your business’ data? The recent attack on SolarWinds Orion software is one of the greatest US cybersecurity breaches and affected close to 18,000 companies. The breach led to massive data compromises in big corporations, including governmental agencies, and will take years to identify the damage that’s been done. The cybersecurity of your business should always be one of your biggest priorities. Your online data footprint is vulnerable to an attack at any time so protect yourself by purchasing cybersecurity insurance. As far as security tips, the first thing you should do is use two-factor authentication, which sends a pin code to your cellphone to verify logins. Tip two is to review your password management protocol. Change your passwords every 6 months and use unpredictable passwords - including a combination of uppercase and lowercase letters, along with symbols and numbers. You can also use third-party password software tools such as LastPass. Tip three is never plug anything unknown into your computer, such as a thumb drive or CD. They can contain malicious codes that can compromise your computer’s files. Next, set up your routers properly. Change the username and password and check if your router password is encrypted. In addition,make sure you turn on automatic updates for your software to periodically check for viruses. Tip 6 is to remember to also include Windows Updates as well. Lastly, use open networks with caution. Invest in your wifi hotspot on your phone to prevent unwanted data breaches from suspicious open networks. 3 KEY POINTS: Cybersecurity should be your number one priority, especially when you have valuable data such as patient records and personal information within your computer or network. There are different steps you can take to prevent data breaches and hacker attacks such as using two-factor authentication, managing your passwords and being cautious of what you plug into your computer. A breach in your data is a liability issue for you and your business. Don’t be negligent and utilize precautions to lessen the risks. TWEETABLE QUOTE: “Cybersecurity - the security of your patient data, your business’ data and your personal data - should be at the forefront of your mind.” - Jason Duprat RESOURCES: LastPass - Course Creator Academy: HEA Facebook Groups: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #cybersecurity #databreach #SolarWindsHack #cyberthreats #dataprivacy /episode/index/show/healthcareentrepreneuracademy/id/17422976

#151: John Gorman: Launching Large-Scale Interventions for Underserved Populations 12/31/2020

#151: John Gorman: Launching Large-Scale Interventions for Underserved Populations OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast speaks with John Gorman, Founder and Chairman of Nightingale Partners LLC - the nation’s leading healthcare Opportunity Zone investment fund and consultancy. John talks about his early career helping poor performing companies turn their businesses around and how he built teams to accomplish this. He also discusses conducting large-scale healthcare interventions to help vulnerable communities and the investment opportunities for these outreach initiatives. EPISODE HIGHLIGHTS: John started Gorman Health Group as a compliance practice, which evolved into operational fixes and eventually led to full scale assistance for distressed companies. Assemble a ninja squad to pivot and find solutions that will stick. John highlights a variety of turnarounds he’s overseen, including Excel Health, a medicare advantage special needs plan. John has been intent on building a massive network of people. When helping a business pivot and turnaround, it’s important to match up skill sets and personalities. Behavioral Economics is about the science of incentivizing people. The biggest motivators for smart people doing complex tasks is autonomy, mastery and a sense of purpose. As an entrepreneur, finding problems and forming solutions is your bread and butter. John put his retirement plans on hold when he learned about the IRS revamping regulations for the Opportunity Zone program. With this program, Nightingale Partners helps anti-poverty initiatives improve the quality of care for vulnerable beneficiaries and dramatically decrease their healthcare costs. Nightingale Partners is focused on sourcing partners and de-risking investments for anti-poverty initiatives, as well as bringing expertise to these intervention programs. The IRS’ revamped regulations allows investments in real estate purchases, leases and working capital. Nightingale Partners is working on a JV with Triple S and the Boys & Girls Clubs to help thirteen of Puerto Rico’s most notorious housing projects. THey are buying vacant land to put in a school, a workforce development center, and medical and social services clinics. Opportunity Zone maps are available through every state’s Department of Economic Development, as well as the Nightingale Partners website. 3 KEY POINTS: Always establish pre-conditions when going into a company. Find the right business model that works for you. With the Opportunity Zone Program, Nightingale Partners' mission is supporting anti-poverty initiatives and improving the way of life for its beneficiaries The changes in IRS regulations have opened up new opportunities for entrepreneurs and business ventures. TWEETABLE QUOTES: (The goal of entrepreneurship) “Meet an unmet need in the market, and find a way to monetize meeting that need in a way that works for you and your client.” - John Gorman “Healthcare is the most fertile soil in the American economy for entrepreneurship.” - John Gorman RESOURCES MENTIONED: John Gorman on Linkedin - John Gorman on Twitter - Nightingale Partners LLC website - Nueva Verde Luz Wesbite - #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #businessturnaround #socialdeterminants #healthequity #antipoverty #investment #intervention /episode/index/show/healthcareentrepreneuracademy/id/17363423

#150: Tactical Tuesday: Positive Input Equals Successful Output 12/29/2020

Bonus - Champions of Charity: Tammy Cannon: Working from the Heart 12/28/2020

Bonus - Champions of Charity: Tammy Cannon: Working from the Heart OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast is launching a new quarterly bonus series. In these episodes, Jason will interview inspirational leaders who are making a difference in the lives of others through their charity, foundation or nonprofit work. In this debut episode, Jason speaks with Tammy Cannon, Founder and Executive Director of Project 143 (P143), an international orphan hosting program. Tammy discusses the hosting process, the struggles the children face and P143’s fundraising efforts. EPISODE HIGHLIGHTS: Tammy founded P143 based on her desire to help orphans and loving families find a connection. At the program’s launch, there were 143 million orphans around the world, which inspired the name. Tammy talks about the different countries they’ve connected with, which includes the Ukraine, Latvia and Columbia. She also shares how orphans are selected for the program and how families are matched. Some factors the organization considers are the resilience of the children and their desire to travel and interact with host families. Tammy partners with different adoption agencies to allow families the option of adoption after hosting a child. She also forges connections with each country’s governments and their embassies for the Visa process. Tammy explains how the language barrier has been a challenging yet fruitful opportunity for both the children and the host families. P143 provides support for older children in the orphanages. This includes helping them as they grow to become young adults, move out of the orphanage and find a permanent home. The financial areas of need for P143 include host fees, transportation fees, paperwork, insurance and scholarships. P143 ensures host families are supported through counseling so they understand the background and possible traumas the children may have faced. Tammy shares a story about one of her early host families and how this continues to inspire her in her leadership role for P143. The organization does fundraising to support the specific needs of the orphanages. This includes buying games, personal protective equipment and even building a swimming pool and a kitchen! 3 KEY POINTS: P143 provides host programs allowing children and host families to connect. They also partner with several adoption agencies and international governments if host families decide they want to adopt after they host. Growing up in an orphanage is a difficult life and some children suffer from trauma. P143 provides the children with life skills and also offers counseling to the host families on how to care for the children with love and understanding. The organization is a nonprofit and volunteer-led. One key area of financial need is the scholarship program. TWEETABLE QUOTES “They’re not orphans by choice. They’ve had a tough time, they’ve been overlooked for some reason, and the older they get, the more overlooked they become.” - Tammy Cannon “What we’re attempting to do is remove the stigma of an older child adoption…what we’re trying to do is give these older kids a face, a name and a personality.” - Tammy Cannon RESOURCES MENTIONED: Project One Forty Three Website - 143 Million Reasons Blog Website - #HealthcareEntrepreneurAcademy #orphanhosting #hostfamilies #adoption #missiontrips #servantleadership #nonprofit /episode/index/show/healthcareentrepreneuracademy/id/17318147

#149: Mark Lack: Be the Broker of Expert Content 12/24/2020

#149: Mark Lack: Be the Broker of Expert Content OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast speaks with Mark Lack, an expert on personal branding, the best-selling author of “Shorten The Gap” and Host of ‘Business Rockstars.’ Mark discusses different strategies for building a personal brand, creating online content and finding ways to scale your business. He also talks about Business Rockstars and his dedication to his craft. EPISODE HIGHLIGHTS: Personal branding is changing the narrative of sales and marketing. Mark invested in education for seven years and learned from the top people. Develop your online positioning to build your personal brand and then monetize. Ask yourself: What problem do I want to solve? How will I be the best? What’s my niche? How will I show up differently? Produce online content to add value and create goodwill. A key way to share content is read books on topics you’re interested in and highlight key takeaways with your customers. Afterwards, contact the author to schedule an interview. Using the above content model, book chapters become blogs and YouTube videos. Then, edit 60-second clips from the video and share on social media. Bring the experts and their expertise with your own spin on it - be a broker and a facilitator. Your network is your net worth. Business Rockstars is a media company offering tons of content, including a talk show hosted by Mark and focused on entrepreneurship. Mark plans to launch a new talk show in 2021 utilizing Amazon, Netflix and YouTube. Consistency and hard work have been the keys to Mark’s success. 3 KEY POINTS: To become an entrepreneur, you have to identify a problem, seek a market and create transformative, value-loaded content. Begin with the basics - start small, expand when needed and create content consistently. Interviews are the easiest way to create content. They allow you to expand upon existing topics by being the broker of information and creating an expanding connection with other creators. Always remember to monetize your content. Reach out to sponsors, look into affiliates and use the available online tools to expand your knowledge. TWEETABLE QUOTES: “You don’t need to be the expert, you’ll eventually become the expert when people tell you you are but in the meantime, just broker and facilitate.” - Mark Lack “You have to have blind faith. You just have to know that if I do this for five years consistently and I make the time, it will all pay off.” - Mark Lack RESOURCES MENTIONED: Mark Lack on LinkedIn: Mark Lack on Facebook: Mark Lack on Youtube: Mark Lack on Instagram: Shorten The Gap Website: Shorten The Gap on LinkedIn: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #branding #personalbranding #onlinecontent #contentcreation #valueadd /episode/index/show/healthcareentrepreneuracademy/id/17286182

#148: Tactical Tuesday: 8 Tips to Feel Comfortable & Confident on Video 12/22/2020

#148: Tactical Tuesday: 8 Tips to Feel Comfortable & Confident on Video OVERVIEW Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks about how to increase your comfort level when you’re in front of a video camera. He also discusses why videos can be a growth factor for your business. EPISODE HIGHLIGHTS: In the digital age, it’s important for any business’ marketing to produce content, and in most cases, videos are a top resource. Video is the key component for your customers to know, like and trust your brand. Videos are often used for webinars, coaching calls, Q&A sessions, online courses, consultations and Facebook ads. Feeling comfortable in front of the camera helps your business and you as a speaker. It prepares you for the stage to do public speaking and improves your ability to communicate on the spot and live. Jason shares 8 tips to build your confidence in front of the camera, beginning with don’t let your mind wander to what you’re trying to avoid such as looking away or ummms. Tip 2 is you gotta put it in the reps. The only way to get better is to practice. Keep pushing forward and getting up. The next piece of advice Jason shares is it’s okay to start with recorded videos. Live videos can be more high pressure. If recorded videos still make you uneasy, start with recorded audio instead. Rewatch pre-recorded videos and take note of your habits in order to improve upon them - you’ll get better in time. Tip 4 is to realize it’s okay to mess up and start over. Sometimes, Jason actually leaves in small flubs because this makes him relatable and his content more organic. The next thing you should consider is writing an outline for what you want to say. You don’t have to follow it 100%; you can use it as a guideline. Tip 6 is to consider using a teleprompter. Jason recommends the Nano Teleprompter application and the Padcaster Parrot Teleprompter which docks on your DSLR camera. This has made content production much easier for Jason. Jason’s 7th tip is to consider making an online course. Most online courses provide intricate video lessons. Teach something you’re knowledgeable in and make videos. This will help you practice and generate income at the same time. If you’re interested in creating online courses, head to Jason’s website and learn more about the Course Creator Academy program. (See address below). Lastly, take time to enjoy what you’re doing. Create videos on topics you are passionate about. Have fun, relax, smile and enjoy! 3 KEY POINTS: The most common form of content any business can make, especially now that everything has gone digital, is video. If you want to have a greater reach in the market and let your brand be known, you have to learn to be comfortable in front of a camera. Becoming good at something takes time. Step out of your comfort zone and learn how to improve your bad habits and mistakes. Creating video and audio content is an art to master over time. The best way to earn money and practice creating video content is by developing an online course. Find your market, find something you're an expert in or passionate about, and just put yourself out there. TWEETABLE QUOTES: “Have fun, smile, relax and the rest is just gonna come together.” - Jason Duprat “Just focus on your audience…focus on them and on delivering real value, really good content, and really good support.” - Jason Duprat #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #video #videocontent #digitalcontent #onlinecourses /episode/index/show/healthcareentrepreneuracademy/id/17270858

#147: Lucia Huang: Building Software to Revolutionize Mental Healthcare 12/17/2020

#147: Lucia Huang: Building Software to Revolutionize Mental Healthcare OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast speaks with Lucia Huang, Co-Founder and CEO of Osmind. Lucia shares her insight on healthcare entrepreneurship, including various levels of fundraising and the impact of Artificial Intelligence. She also discusses the mental health sector of the healthcare industry and how Osmind addresses the gap of personalization. EPISODE HIGHLIGHTS: Lucia talks about the macro and micro aspects of entrepreneurship. On the micro side, it requires hustle and grit and the macro aspect includes thinking about healthcare and the industry as a whole. There’s a range of investors out there like venture capitalists and cash flow focused investors seeking interest in the healthcare industry, especially in the mental health sector. Jason and Lucia talk about the technique of blitzscaling, which prioritizes growth over everything else to monopolize. There are three levels of fundraising: angel, venture and private equity. The life cycle of a company includes angel investing, a seed round and a Series A where you’ve found your product-market fit and you’re receiving inbound interest. Product market fit is where you’re spending more time figuring out how to service your existing customers than you are trying to go after new customers. Artificial Intelligence (AI) is growing in the healthcare industry. Lucia defines AI and what this innovation means for data processing, care delivery and drug development. Osmind was launched due to the lack of personalization for mental health services and focuses on improving access to health modalities and therapies. Mental health has been stigmatized and COVID has helped to open up the conversation around mental health. Lucia’s advice for starting your business: don’t be afraid if you’re not familiar with technology and get a minimum viable product out there to provide a solution to a problem. 3 KEY POINTS: As an entrepreneur, there are many hurdles to overcome to expand your business. Although cash flow and growth is the main goal, never forget to focus on your client’s needs and always aim to provide value-based care. AI has been a big topic in the healthcare industry when it comes to data processing, care delivery and drug development. AI can help start-ups focus on data, think of new ways to solve problems and ultimately improve business as a whole. Always aim to find a perfect product-market fit. Starting a business is hard. Continue to focus on your market, put your product out there and be smart with your decisions. TWEETABLE QUOTES (On entrepreneurship) “There’s so many books you can read and so many people you can talk to. But just go and do it yourself and give it a go.” - Lucia Huang “Don’t be too afraid if you’re not a technologist at heart or if you’re not a coder…by talking to people who are familiar with it, you’re going to pick up a lot of the language and start to understand what it means.” - Lucia Huang RESOURCES MENTIONED: Lucia Huang on Linkedin: Osmind website: Osmind on Linkedin: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #fundraising #artificialintelligence #innovation #technology #mentalhealthcare /episode/index/show/healthcareentrepreneuracademy/id/17196953

#146: Tactical Tuesday: Should you Utilize an Affiliate Marketing Program? 12/15/2020

#146: Tactical Tuesday: Should you Utilize an Affiliate Marketing Program? OVERVIEW Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast discusses the pros and cons of affiliate programs to grow your business. EPISODE HIGHLIGHTS: There are three ways to grow your business. Word-of-mouth or through a general Google search, paid advertisements like billboards, Facebook or Google, and hiring sales staff or an affiliate marketer. Word-of-mouth is tough to scale. Paid ads can be expensive and tough to master. Often entrepreneurs lean towards affiliate marketing programs. An affiliate marketing program is a commission-based program where you pay others to share your product. The biggest cons to affiliate programs is they require a lot of administrative effort to manage, which can be tough for small businesses. You need to set up processes for partners to sign up and for payment compensation. In addition, another con is it can be difficult to track legitimate sales. Sometimes affiliate marketers will say they can do more for your business than they can actually do. Screen potential partners by interviewing them. Review their track record for success and if they sign on, provide training on your business and its services or products. The pros of affiliate programs include they can lead to tremendous sales if the affiliate marketer is a solid and reputable resource. In addition, you can eliminate the burden of paid advertising. Jason recommends using affiliate software including CAKE, Ontraport and PayKickstart. (Jason points out he doesn’t receive a commission on these products; he’s providing strictly as a helpful resource). If you’re interested in becoming an affiliate for the Ketamine Academy or IV Therapy Academy programs, reach out to Jason via . 3 KEY POINTS: Commissions for affiliate marketing can range from the low-end of 30% to the high-end of 50%. Products are usually on the lower end and digital services are on the higher end. Affiliate programs offer different pros and cons. Some of the cons include additional administrative effort to get processes set up and the potential for exploitation by unprofessional affiliates. The pros include the opportunity to foster a boost in sales and eliminate paid advertising. Affiliate programs require monitoring, particularly on the accounting side of things. Fortunately, there are accounting and affiliate management tools you can access to help alleviate the burden. TWEETABLE QUOTES: “Organic growth is tough, it takes a while to scale rapidly. Paid ads are expensive and time-consuming to master. And so, a lot of people decide to go with the affiliate option.” - Jason Duprat “The biggest drawback (of affiliate programs) I keep hearing over and over again is affiliate programs take a lot of administrative effort to manage.” - Jason Duprat #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #affiliatemarketing #affiliatepartnerships #generatesales /episode/index/show/healthcareentrepreneuracademy/id/17177852

#145: Todd Tresidder: Design Methodically to Achieve Financial Freedom 12/10/2020

#145: Todd Tresidder: Design Methodically to Achieve Financial Freedom OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast speaks with Todd Tresidder, Owner of financialmentor.com. Todd shares his insight on investment strategies and adapting to the market. He also highlights the importance of risk management and how to determine your financial outcome. EPISODE HIGHLIGHTS: The investment field is a tricky process. Go into it with your eyes wide open because you’ll encounter conflicts of interest and natural biases. A hedge fund is focused on skill-based investing - quantitative disciplines vs market price movement. Todd shares his investment strategies and expands on the principles involved including diversification by source of return. Todd reflects on his decision to sell his hedge fund business and how his lack of mentorship back then led him to his coaching business, financialmentor.com. He launched finanaicalmentor.com in 1997 to help normal people achieve extraordinary financial results. Todd started out as a coach and then planned financial education models to share products, courses and online calculators. When it comes to your business, you want to be ahead of the curve on something that matters, helps people and solves a problem. Build your business as a side hustle while you have a reliable income from a full-time job. Work out the bugs first so you can prove your business model. Build relationships, trust and a brand. Then monetize to make sure it’s valid. Entrepreneurship is about providing value, having fun and helping people. There are two formulas for financial income and life growth: Mathematical expectancy and future value equations. Understanding risk management is the core of financial independence. Todd discusses his view on the current economy and the economic “end game.” To prepare for the coming “end game,” train yourself. Todd shares one of his tools, Expectancy Investing Done For You, which does all the asset allocation work for you. 3 KEY POINTS: Investing isn’t an easy thing to dive into. You have to learn about different strategies and principles, apply them to your business and learn to adapt to the market. Always be open to the idea of mentorship and be mindful of the decisions you make. Businesses are always changing with the times. Work on something worthwhile and give value to your consumers. Adapt to the market’s needs and keep your financial outcome in mind. After building your business, keep it in the game for as long as possible. It’s important to understand how to manage risk and have an outlook for your financial outcome if you want to keep growing. TWEETABLE QUOTES “Get your market right and position yourself in a growing market.” - Todd Tresidder “Traffic times conversion equals profit.” - Todd Tresidder RESOURCES MENTIONED: Todd Tresidder on Linkedin - Financial Mentor - Wealth Coach - Financial Mentor E-books - #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #investmentstrategies #riskmanagement #financialmentor #financialcoach /episode/index/show/healthcareentrepreneuracademy/id/17134094

#144: Tactical Tuesday: Focus on your Customers vs the Competition 12/08/2020

#144: Tactical Tuesday: Focus on your Customers vs the Competition OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast discusses the dangers of obsessing over your competition instead of focusing on your own customers and your business. EPISODE HIGHLIGHTS: Do a market analysis and gather market intel about your competitors in order to refine your business idea. Don’t obsess over your competition and copy their every move. This can result in stress, anxiety and your business’ demise. Avoid having a copycat mindset and groupthink. Jason shares an example of how Blockbuster and Hollywood Video entered the movie rental market but then focused on each other vs their customers, ultimately causing their demise. He also highlights how Redbox entered the arena by offering movie DVDs via a kiosk. And how Netflix entered the market by mailing DVDs to their customers before eventually switching over to streaming services. In both cases, Redbox and Netflix found success because they analyzed how they could better serve their customers and remove pain points. It takes innovation to excel in business. Always put your customer first. Jason provides updates on his Course Creator Academy, including one student who earned $12,000 for her beta webinar. 3 KEY POINTS: A lot of entrepreneurs tend to overanalyze their competition. Gathering intel to keep up with their pace is fine, but trying to constantly one-up them doesn’t help your business. Instead of focusing on your competitors, analyze your market and think of how you can innovate your business. Always keep your customers and your business’ survivability in mind. TWEETABLE QUOTES: “It takes innovation to really excel in your business.” - Jason Duprat “Think about and focus on how you can better serve the customer.” - Jason Duprat #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #marketanalysis #competitiveanalysis #innovation #innovate /episode/index/show/healthcareentrepreneuracademy/id/17086934

#143: Taylor Justice: There are No Rules or Formulas in Entrepreneurship 12/03/2020

#143: Taylor Justice: There are No Rules or Formulas in Entrepreneurship OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast speaks with Taylor Justice, Co-Founder and President of Unite Us. Taylor highlights his experiences after his medical discharge from the Army and how he came up with the concept of Unite Us. He also talks about the importance of building professional relationships, executing ideas and finding the right investors. EPISODE HIGHLIGHTS: Reflecting on his football days, Taylor shares how sports psychology teaches you mental discipline, mental toughness and emotional intelligence. You may get told no 100 times. Keep going until you get your shot. Taylor established Unite Us by focusing on and catering to the needs of US Army veterans. It’s hard to get your business on track, especially when it involves the government. Taylor highlights the technical aspects and professional relationships he built over the years. Have the courage to take the first step and then you’ll figure things out. In entrepreneurship, there is no such thing as rules and formulas. It all comes down to mental toughness and the ability to execute your ideas. Taylor states his MBA gave him good tools and resources, yet on his own, he learned to be gritty and innovative. As a Co-Founder of a software company, Taylor encourages entrepreneurs to focus on three things: identify a need, set your vision and recruit a capable team. Finding investors is similar to a sales process. You need to find investors within your target market and understand how they invest. If you ask for money, you’ll get advice. If you ask for advice, you’ll get money. Taylor shares his insight on sourcing partners for seed capital and how the early rounds are most expensive for equity. Don’t be afraid of someone stealing your ideas. Tell everybody about what you want to do. It will help improve your pitch and greatly expand your network. 3 KEY POINTS: The core of every business is to provide a solution to a current need or problem. When you have the right idea and the appropriate business model, your path is set. All that matters moving forward is your ability to establish relationships, grit and the proper mindset. There’s no formula for entrepreneurship. Adding tools to build your business and scale it will become a great advantage. The important thing is finding your vision and finding a way to execute it. Investors are a big part of a business. Aside from funding, they can pivot your business to the right track. Don’t be afraid to get rejected and keep your network open. TWEETABLE QUOTES “You start to get enough of those smaller checks that turn into a bigger dollar amount that also tells a story. You do have grit, you do have the ability to go syndicate a deal. Investors get excited about that.” - Taylor Justice “You need to know your market better than they (your investors) do. If they don’t have confidence in you, it’s going to be very difficult for them to write a check to you.” - Taylor Justice RESOURCES MENTIONED: Unite Us Website - NCCARE360 - Taylor Justice on Linkedin - #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #startup #veteransassistance #businessmodel #saas #buildingcommunity /episode/index/show/healthcareentrepreneuracademy/id/17026328

#142: Tactical Tuesday: Running the Numbers on Google Ads 12/01/2020

#142: Tactical Tuesday: Running the Numbers on Google Ads OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast discusses how to evaluate the cost of running Google Ads to determine if they’re a good option for your business. EPISODE HIGHLIGHTS: Before buying Google Ads, there are numbers you should be aware of. For instance, know the cost of your product or service to determine your return. Impressions won’t make you any money when it comes to Google Ads. You need to understand how this impacts your overall ROI. Jason shares a mathematical evaluation based on a $1000 ad spend for 1000 impressions at $1.00/per impression. To determine if you’re creating positive ROI, understand the lifetime value of your customers. This allows you to analyze the cost of your product/service to the cost of the ad spend. Return on ad spend is the total amount of dollars you made (total conversion value in dollars) divided by how much you spent on ads. Despite the low return, ads may bring a bigger value to your business. This is especially true if you’re selling a digital product. As an example, you can build your brand and your email list as well. The best way to know if Google Ads work for you is to just try it. Don’t be afraid to test out different visuals and copy. 3 KEY POINTS: The reason for running Google Ads is to either make a return or widen your funnel. You need to know your numbers and be smart with your numbers. Running Google Ads requires a full understanding on how to evaluate the math in order for you to maximize the money you've invested. Be aware of the following: impressions, click-through rates (CTR), customer acquisition cost (CAC) and return on ad spend (ROAS). Sometimes, you may have to run test ads in order to know if Google Ads will work for your business. It’s all part of the process to build your brand and generate more revenue. TWEETABLE QUOTES: “Various niches have various customer acquisition costs.” - Jason Duprat “The more competitive the particular arena is (in which you’re running ads), the more expensive it’s going to be.” - Jason Duprat #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #googleads #onlineads #digitalads /episode/index/show/healthcareentrepreneuracademy/id/17008703

#141: Chet Czaplicka: Learn from Mistakes & Take Risks to Build a Business Empire 11/26/2020

#141: Chet Czaplicka: Learn from Mistakes & Take Risks to Build a Business Empire OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast speaks with Chet Czaplicka, President and CEO of Comprehensive Care Services (CCS). Chet explains what perfusion is and how CSS is becoming the largest perfusion company in the world. He also discusses the importance of learning from mistakes, taking risks and how to manage negotiations and acquisitions. EPISODE HIGHLIGHTS: A perfusionist provides services to heart surgery and lung transplant patients. They often operate extracorporeal circulation equipment like the heart-lung machine. Chet discusses how he built his perfusion business by learning from mistakes. He also highlights his experiences taking on hospital systems and why it’s important to be a risk taker. As an entrepreneur, you’re often expected to take on different roles and responsibilities. Being aware of your ‘hats’ helps you get to a better place in life. Acknowledging your strengths while admitting your weaknesses will allow you to improve yourself and your business. Always hire for your weaknesses. When it comes to mergers and acquisitions, make sure your expectations are covered in the contract. If something isn’t there, there’s a possibility you won’t get what you need from the deal. Picking your business partners and employees is like dating - you have to understand what they’re doing and what their preferences are in order to get to know them. Across his career, Chet has acquired 14 companies. His key to success? Do your due diligence well. Chet believes in creating a personal relationship with your banker and learning what he/she is thinking. Chet expands on and defines EBITDA (earnings before interest, taxes, depreciation and amortization) and why it’s important during small businesses acquisitions. During negotiations, create win-win scenarios. Get to know who you’re negotiating with and what their needs are. 3 KEY POINTS: The healthcare industry is an untamed jungle. A lot of professions, like perfusionists, aren’t well known but have the same, if not a greater, impact as any other healthcare provider. When creating a business, acquiring partners or making acquisitions, keep these two key factors in mind. Don’t be afraid to admit your weaknesses and be sure to hire the right people. Based on his own success, Chet offers the following advice for entrepreneurs: Become knowledgeable about accounting, get connected with your banker and hire both an internal and external consultant for your company. TWEETABLE QUOTES: "SAP is the gorilla in the room when it comes to accounting programs." - Chet Czaplicka "I was the marketing arm, I was HR, I was accounting, and of course I was upper management. And any entrepreneur starting a business, typically, will have those multitudes of hats on." - Chet Czaplicka "Being an entrepreneur is like being in a self-therapy session. You always have to admit - Oh yeah, I'm not good at that but I'm better at this, maybe that's where I should concentrate my offers." - Chet Czaplicka RESOURCES MENTIONED: Comprehensive Care Services Website - #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #learnfrommistakes #takerisks #negotiationstrategy #mergers #acquisitions /episode/index/show/healthcareentrepreneuracademy/id/16946204

#140: Tactical Tuesday: Decoding Mobile & Web App Development 11/24/2020

#140: Tactical Tuesday: Decoding Mobile & Web App Development OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks about the three things he’s learned while researching mobile and web application development. EPISODE HIGHLIGHTS: First, learning anything new takes time, particularly if you're new to the space. The learning curve can be steep. During his research, Jason learned about software languages such as CSS, C++, HTML, JavaScript and PHP. Knowing “analysis paralysis” was his worst enemy, Jason gathered information to get up to speed and made quick decisions. Take advice with a grain of salt; Jason shares a story about dealing with an acquaintance’s referral, which included a steep referral commision. The second thing Jason learned is there are two ways to get a web or mobile app developed. One option is to partner with a dev shop. Dev shops based in the US can be very expensive. The standard US rate is $130-$200/hr. There are also international shops, which are less expensive at an average rate of $40-$100/hr. Dev shops are experts in what they do. They have higher rates and usually only work for short bursts of time. The third thing Jason learned was you can also hire an in-house software engineer. Finding an experienced one is difficult because they’re in high demand. Often, it’s tough to get a true assessment of a software engineer’s skill set. If you’re seeking an investor, they’ll want to see an in-house team vs working with a shop. Jason provides a tech rundown on the framework for software development - the front-end and the back-end. The front-end includes the user experience (UX) and the user interface (UI). HTML and JavaScript are the most popular front-end languages. The back-end includes the server side like databases, cloud storage and encryption. Popular back-end scripting languages include Ruby, Python, JavaScript and PHP. You can hire a full-stack developer to handle both the front-end and the back-end. While these developers offer breadth,they often lack depth. 3 KEY POINTS: Technology can aid your success in the entrepreneurial world. This is because the tech industry is forever changing so you’re constantly learning. Teaching yourself a new skill like coding is a demanding process. You need to put in the time and effort to achieve results. There are two options for building a web or mobile application. You can hire a dev shop or an in-house engineer. Each one has its pros and cons, and it’s up to you as the business owner to determine which option will best fit into your business model. The framework for software development consists of the front-end, which includes the user experience and user interface. It also includes the back-end, which is the server-side. TWEETABLE QUOTES: “Take advice with a grain of salt because people give advice based on their particular knowledge set and experience factors.” - Jason Duprat “(In the) tech field things change fast and it’s definitely a pretty steep learning curve.” - Jason Duprat #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #mobileappdev #webappdev #fullstack #coding #startup /episode/index/show/healthcareentrepreneuracademy/id/16912667

Healthcare Entrepreneur Academy Podcast

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