It is often said that founders with personal, firsthand experience of the problem they are trying to solve make the best entrepreneurs. However, this begs the question of whether this is enough if these same individuals lack expertise in startup and fundraising knowledge. Co-founder of Patchwork Health, Dr. Anas Nader, found that “living the problem” was the driving force behind their enterprise. Working as doctors on the frontline of the NHS crisis, they experienced firsthand the severe staffing gaps. This experience was the foundation of Patchwork Health’s growth, as their medical backgrounds enabled them to build a streamlined solution that NHS teams want to use. Though it provided invaluable insight in approaching healthcare clients, it did little to prepare them for the business side of launching a startup.
Dr. Anas Nader explains that working in healthcare and founding a startup are like two different worlds. Though they knew their industry inside and out, getting comfortable with the startup vernacular – from GTM and CAC to “term sheets” and “cap tables” – was a steep learning curve. While their knowledge of the pain points and obstacles facing NHS clients was an asset, building a sustainable enterprise required skill and technical knowledge that was absent from their medical background. They had to get comfortable with a whole new language to truly build the kind of business they envisioned.
In their previous work, as doctors, they operated as a small part of a greater structure; as a startup, they were on their own. With just two team members to manage all aspects of the business, they had to fulfill every single role – Sales, HR, Finance, Marketing, etc. While their experience on the NHS frontline meant they were accustomed to thinking on their feet, they were unprepared for the responsibility of steering the entire ship. Building out their team and achieving crucial milestones, like their first round of funding and securing their first NHS trust partnership, was a fundamental step towards establishing a supportive structure that any organization requires to scale and succeed.
Though it is ingrained in their work as healthcare professionals, during their startup venture, they found that they needed to display a greater level of vulnerability. For investors, it’s important to exude confidence in one’s business model, but not to the point of hubris. Demonstrating self-awareness and willingness to receive direction is often more valuable in developing credibility and building lasting partnerships. Real-world expertise is only one piece of the puzzle in starting a successful startup, as learning to work within a distinct ecosystem with its own language, rules, and processes is just as important. A founder’s prior experience helps to fuel the perfect solution but will never be the sole reason for driving it where it needs to go.
