Home Based Business

#22: Troy joins Annaka and Ethan to share his story founding Particle Health, a company working to innovate healthcare systems and improve accessibility to healthcare data using their API. Troy walks us through his journey of becoming an expert in a changing field, creating sustainable goals using OKRs, and building a company culture from the ground up.Troy Bannister is the CEO and founder of Particle Health, a startup working to revolutionize data sharing across the healthcare industry. Troy’s experience with patient care began while working as an EMT. He considered pursuing a career in medicine but ultimately went on to work in the healthcare VC space. Troy’s experience within the healthcare industry showed him the difficulties associated with trying to transfer patient data from one healthcare system to another, and he ultimately decided to create Particle Health in order to innovate the digital healthcare space.🎙️ 𝙇𝙞𝙨𝙩𝙚𝙣 𝙩𝙤 𝙤𝙪𝙧 𝙋𝙊𝘿𝘾𝘼𝙎𝙏 𝙞𝙣𝙩𝙚𝙧𝙫𝙞𝙚𝙬𝙨 𝙬𝙞𝙩𝙝 𝙄𝙉𝘿𝙐𝙎𝙏𝙍𝙔-𝘿𝙄𝙎𝙍𝙐𝙋𝙏𝙄𝙉𝙂 𝙁𝙊𝙐𝙉𝘿𝙀𝙍𝙎 𝙤𝙣 𝙎𝙩𝙖𝙧𝙩𝙪𝙥 𝙎𝙖𝙫𝙖𝙣𝙩𝙨! https://startupsavant.com/startup-savants-podcast?ref=ytssparticlehealthListen on Apple Podcast – https://podcasts.apple.com/us/podcast/startup-savants/id1608245365Listen on Spotify – https://open.spotify.com/show/3tapvhj1GY0M737sPcRDdY Listen on Google – https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5zaW1wbGVjYXN0LmNvbS95X0lqUHdtVw0:00 Intro1:10 From working as an EMT to finding a niche within the virtual health industry 3:34 The problem: Why can’t we easily get medical records from one doctor to another?6:06 Developing an API that connects hospital systems and allows data to be easily shared 7:18 How Troy quit his job without a plan 9:28 Learning how to jump into the unknown 10:17 Working to understand industry laws and researching how to address this problem 12:36 Zooming into a target market and niching down to focus on one target audience 15:27 Taking a year to fill up your calendar and validate your product 18:13 Building credibility and crafting a winning pitch to receive funding 21:49 Troy’s advice — you need an enormous vision and a realistic plan 23:22 Transitioning to a remote work environment 29:02 How to approach your company during periods of burnout 30:33 Hiring the right people is essential for creating a great company culture 33:02 The growing pains of scaling and learning to build a working structure 36:12 Using OKRs and KPIs to create quantifiable goals 39:42 Many decisions depends on your current mindset, and you need to find out how to achieve the best mindset for making those decisions 43:35 Starting a company was the only thing that was exciting to Troy and allowed him to take the plunge into entrepreneurship 46:15 Troy’s prediction for the future of the healthcare industry 48:27 Scaling to be a healthy business rather than trying to grow at all costs #digitalhealthcare #particlehealth #troybannister #truic #startupsavant #startupAs the economy changes and buying cash becomes more expensive, evaluations decrease and become more dependent on revenue [49:27]Entrepreneurship is hard and does not have an off switch [51:55]Troy’s advice for founders — expect things to take at least five times as long as you initially thought [53:32]