Consultation – Dutch Uncles

STEM and Entrepreneurship: Top Skills Required for New Age Entrepreneurs

Aakash Sharma — Sat, 24 Apr 2021 09:30:10 +0000

Science, Technology, Engineering, and Math – STEM – is a teaching and development approach that combines the various skills to give multirole capabilities to students and professionals. Science, technology, engineering, and math are general terms that connect these disciplines. The term is often used in the educational industry to refer to educational policies or course choices.

Why is STEM important?

The world is rapidly changing via technological means and so is the global economy. Due to automation, traditional jobs are disappearing and due to technological advancements, new jobs appear every day. Continuous advances in technology have changed the way students learn and communicate daily.

When students are out of college, employers today demand a nuanced portfolio from them and with STEM skills and competencies, students get high-end working knowledge which opens many doors for them. Currently, 75% of jobs in high-growth sectors require skilled workers from this field, which indicate that it is a growing field.

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Skills developed by students through STEM provide them with the foundation to succeed at school and beyond.

Education and Entrepreneurship in STEM

The demand for STEM skills is undoubtedly high. In this rapidly changing field, students need to be equipped with better preparation for professional development. Focusing on the future of the economy, these skills bring education and entrepreneurship closer than ever.

Actionable STEM Skills Entrepreneurs Need for Success

At the heart of any business is the desire to solve problems. This is the main idea that makes STEM necessary for new-age entrepreneurs.

Determination: Any software computing, designing or developing vocation requires perseverance and commitment. A well-versed knowledge of STEM skills helps people stay firm on this resolution path in a professional space.

Adaptability and Flexibility: Students must be able to analyse new problems and find solutions quickly. Keeping an open mind is central to success in both STEM learning and entrepreneurship. The best way to deal with problem-solving is to have a careful mindset towards creative, unique solutions.

STEM Can Benefit in All Fields

The new age concepts of science and technology have a tangible impact on various fields – from accounting and education to small businesses and start-ups.

These are some exciting examples of STEM entrepreneurship:

Technical Business Consulting

Consulting, especially, Technical Business Consulting, is one of the most adopted new business ideas, primarily because you can work on it remotely with minimal investments. The skills acquired from STEM learning can be used in helping others build sustainable businesses and profitable business relationships. Technical consulting can help companies improve their organisational model, solve technical problems, and develop new digital products or services.

Intelligent Product Design – Internet of Things (IoT)

Since almost everything is correlated to the internet, companies (especially start-ups) require specialised engineers to operate and design advanced IoT devices. While there are many opportunities for today’s businesses, technology entrepreneurs focusing on developing IoT product lines’ new technologies can have a bright future.

All considered, STEM entrepreneurship is a successful offshoot of the revolution in skill-based education. People entering the entrepreneurial world and workforce are equipped with excellent skills and have ample career options, from joining big companies to starting their businesses.

The post STEM and Entrepreneurship: Top Skills Required for New Age Entrepreneurs appeared first on Dutch Uncles.

What Made HealthPlix Stand Out, Was it its Approach?

Anju Nambiar — Wed, 21 Apr 2021 11:35:03 +0000

HealthPlix Technologies is a Bengaluru-based health-tech start-up whose software is digitally transforming clinics and treatments. Its helping Doctors provide remote consultations to patients and is also saving their time. The technology offers an omnichannel view of disease progress for each patient. These are the features which have raised the trust quotient of this start-up and its product among Doctors.

By directly addressing the needs of Doctors, HealthPlix has proven that Doctors are indeed the crux of healthcare delivery. HealthPlix is speeding up their practises and in turn, helping improve outcomes for patients.

A Doctor’s main responsibility is to engage with patients. These interactions are pivotal because it’s the time when healthcare expenditure is decided. At this crucial juncture, HealthPlix’s intervention acts as a solution, providing assistance to Doctors.

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What made HealthPlix stand out is definitely its approach. The health-tech sector has so far been focused on the patient base. But HealthPlix is the first start-up of its kind to serve Doctors who are the most important people in healthcare.

What sets HealthPlix apart

What has set HealthPlix apart is its ‘Doctor-first B2B approach’. Due to its offerings, patient health outcomes, Doctor practises, and pharmaceutical insights have reached a new high. The company just raised $14.5M in a Series B funding round backed by Lightspeed Venture Partners, JSW Ventures, Kalaari Capital, and Chiratae. They received investment for the sole reason that they are a big help to the Doctors of India and are actually working to improve the efficiency of treatments.

There is huge gap between the number of practising Doctors which is just under 300,000 in India and patients suffering from chronic illnesses who are in the hundreds of millions.

As a result, an Indian Doctor’s schedule is very tight. To compensate for the lack of time, their entire decision making, and diagnosis process relies on the interactions with patients which cannot exceed beyond just a few minutes time. During these few minutes, they have to remember the past diagnosis with a quick run through of the records, and they also need to instantly come up with a plan of action.

Doctors are thus under immense pressure and HealthPlix is helping them to utilise their limited time more efficiently. HealthPlix’s software fills the knowledge gap between the Doctor, the diagnosis, and the patient by keeping tabs on the patient, the medicine information, and past diagnosis. It has a knowledge base which when combined with the vast knowledge that the Doctor possesses, will improve the decision-making process.

What made HealthPlix stand out is definitely its approach. The health-tech sector has so far been focused on the patient base. But HealthPlix is the first start-up of its kind to serve Doctors who are the most important people in healthcare. It has stood out due to the impact it is having by working directly with the Doctor who is in contact with scores of patients.

What’s in it for me?

Health-tech start-ups who aspire to emulate HealthPlix’s success need to come up a problem-solving solution. Instant information access is an ongoing challenge among healthcare workers, especially Doctors. If your products and services can ease or resolve this challenge, your start-up is rightly approaching the heath-tech sector.

Due to Covid-19, patients are seeking teleconsultations which is exactly what HeathPlix is enabling. The National Stack Exchange and Ayushman Bharath have built a UPI infrastructure for hospitals to take consultations to the digital space. As a healthcare start-up, you can innovate around these opportunities and challenges. Most health-tech start-ups are already innovating but not on as big a scale as HealthPlix.

You can innovate to empower Doctors since Doctors and the Healthcare Industry are struggling due to Covid. There is immense unpreparedness and shortage of healthcare workers. The system is very shaky and is struggling and technology is definitely a big help at this time.

Remote diagnosis is critical and there is accelerated adoption for health-tech. Where the acceptance for teleconsultations was very low among patients before, they are now ready to accept it unquestioningly.

You can think about voice-based solutions for doctors, telemedicine products, or products around chat/audio/video calls. You could also come up with deep learning solutions to help physicians. The main problem to be solved is to help doctors spend more time with patients and if your start-up can resolve this, you can expect success in health-tech.

The post What Made HealthPlix Stand Out, Was it its Approach? appeared first on Dutch Uncles.

Fitness Enthusiast Turns Entrepreneur: Story of Jyoti Dabas

Suresh Chouksey — Mon, 18 Jan 2021 13:31:15 +0000

It is 2010, Jyoti Sehrawat Dabas is at her desk at Yes Bank. Neither the arrangement of this branch’s infrastructure is proper nor is her interest in the job. There is stability, financial security and other perks with her at this moment. With that, there is also a clear indication that her potential is being left untapped in this corporate setup. We are in 2020 and it has been ten years since that phase in her life. CEO of Institute of Nutrition and Fitness Sciences (INFS) and having founded Fittr, an online health consultation platform, Jyoti turned the tables. Today, with the success of her start-up ventures, she is part of the small yet growing group of “successful women entrepreneurs in India.”

As I ask her, who Jyoti is, she replies with rumination, “She is passionate about the work she does. She is someone who connects well with people. She is someone who works on her self-development and growth a lot”. During schooling, many people dream of becoming a doctor, engineer, businessman and likewise. For Jyoti, excelling at who she is at the very moment is more important. “I wanted to become a good student. I wanted to do well in studies. Since I was decent in studies and my dad was in civil services, I thought maybe a shot at it was likely. Though, being the avid reader that I’m, I read business books. I got to know about how these things work.”

The quest to learn about business and grow in it did not take long. After her time at the University of Warwick, she got her first job at the CITIgroup where she worked at the equity derivative desk as a tech analyst. There Jyoti learnt about trading instruments and company stocks. Though, after a while, she came back to India for her MBA with the Indian Institute of Management, Calcutta (IIMC). While talking to Dutch Uncles she admits the experience at IIMC was a humbling one. with cutting edge competition, Jyoti had to find her bearings.

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You have to understand and assess your weaknesses. You have to accept the shortcomings. And this can’t be just learnt in business. It starts with everything you do. So, I don’t like to mix things up. It is better to be honest.

Accept the reality and move ahead

She opens up about this phase and it has a strong message for budding entrepreneurs. “It was a new world for me. It was my return to academic life, so it was fun that way. However, from day one I realised this place has a different level altogether. It has a competitive mindset and the success this institution has garnered is immense. I had to buckle up. It was really a realisation. There are so many brilliant minds out there. I had the best of schooling available in Delhi. I was sure, I’ll do well from the start. It wasn’t really the case. I had to give my best after a few semesters in order to match up.” While sharing this experience Jyoti shows exemplary honesty, in which she says, “See in entrepreneurship, or in anything, living inside a bubble will never help. You have to understand and assess your weaknesses. You have to accept the shortcomings. And this can’t be just learnt in business. It starts with everything you do. So, I don’t like to mix things up. It is better to be honest.”

Entrepreneurship is often not the first thing that might come to an individual who is interested in business. It can be a result of years of doing many different things which did not fruit into self-satisfaction. Jyoti’s journey and her insistence on patiently exploring the opportunities are an example of an entrepreneurial trail. “After IIMC, I got the job at Yes Bank. It was a hasty choice. I was cold calling people and doing things that weren’t really the art I’m capable of. I knew my skills could be better put to use somewhere else.” After Yes Bank’s role, Jyoti goes on to do her consultation job at Feedback Ventures. For years into professional life post her academic cycle at IIMC, she still wanted something different. As fate would have it, it was there in the making. “My time with the corporate circle as an employee ended after 2014. I got married. I gave time to myself to figure out something meaningful for my life. I focused on my fitness and read a lot about how fitness is perceived. I was disillusioned with the kind of wrong idea of fitness that there is.”

Jyoti converted the break she took into a remarkable opportunity to explore a new idea. Her exploration of the fitness-related businesses around Gurgaon led her to even more surprising revelations. “People had no idea how crucial health was. Some offices were trying to connect the dots of health but most were still clueless. Streamlining these services and talking to gyms in order to connect them with these corporates was the plan. This is coming after my liking towards fitness. It is quintessential to give yourself time instead of being caged in something that pays well and does well.”

As the entrepreneurial life goes, everything is a risk. Especially when you are leaving a stable, handsomely paying corporate job. On risks, Jyoti shares her thoughts with Dutch Uncles, “I don’t fear risks. But I would also not go stupid altogether. There is something called calculated risks. You have to understand what Plan B is. There are so many things you learn from these risks as well. The rigour that I went through during my corporate career, the ups and downs, the hierarchy of power in the company and similar learnings are all there with me, just because I went through these experiences. Like It or not, the lessons should keep on coming. For example, I was able to call these gyms, corporations with the full ‘cold calling’ feel to it. If Yes Bank experience had not been there, it would have been really difficult.”

The lonely ride of entrepreneurship

Entrepreneurship is like going on a solo trip. You are on your own. Being cautious in your steps is important. On this Jyoti remarks, “It is so true that entrepreneurs are on their own. This is a knife with sharp edges on both ends. With the independence that an entrepreneur enjoys, it also provides him or her with some freewheeling attitude. That should be balanced with a neutral perspective from the world outside of their close circles. It is essential to go to a neutral audience. Ones who would tell you if they really like your idea or not. And not to appeasers. Especially during a product launch.”

After Jyoti found out her orientation towards health and fitness, the opportunities started coming her way. Destiny’s magic led Jyoti to an online fitness company, Fittr. Like a hand in glove, it was a perfect fit. This is evident from the fact that today, she went on to become the founding director of the Fittr company.

Jyoti connected with the Fittr group after one of their users told her about them. After going through the Facebook page of Fittr, which had a growing community, she told them about their shortcomings. Her zeal and experience of health-related topics eventually resulted in her joining the team full time. She actively took part in the hiring process of trainers as well. This resulted in the genesis of the sister concern of the Fittr group, INFS. There on, she went on to guide the Fittr group to success after success. In entrepreneurship, Jyoti preferred over moving from one challenge to another in a reluctant way. Though things have changed. “I was a reluctant entrepreneur back then. I used to think I wouldn’t overstay my welcome anywhere. I wanted the idea to come to a stage where it is sustainable and then it shall be given to some other leadership. However, I realised that is a wrong thinking process, as far as the company is concerned. Today, I think of the growth of the company. If it progresses under me and I’m required, I won’t just give blind eye “On being asked, if this kind of mindset hampers individual growth, she says, “No. It doesn’t. The commitment to the company and idea is also an entrepreneur’s job. Nobody asks you to stay forever. Although, leaving at the right moment at the cost of vision is an axe on the foot of the company and not you.”

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As the independence that an entrepreneur enjoys, does also provide him or her with some freewheeling attitude. That should be kept in check while launching a product. It is essential to go to a neutral public. Ones who would tell you if they really like it or not. And not to appeasers.

Lows, highs and representing your startup

Jyoti goes on to share when she has felt the lowest and how to come out of such lows, “Whenever my ego has been hurt. I have felt bad. When I feel someone is not giving attention to the idea or to a talk that it deserves. I have felt that I’m being edged towards, kind of dejection because of it. However, I talk to my husband about it. He gives his fresh perspective on it. That way, I become a witness to all that I’m going through. That gives me a wider look and helps solve such issues. So always open up to other people and get it analysed retrospectively.”

Entrepreneurship means owning up to success and failures both with equal heart. It is about being the face that is out there taking the brunt and applause, both. Marketing wise as well, a faceless company does not entail much trust either.

Today for Fittr, Jyoti is the face of the company. When it comes to interviews with fitness enthusiasts, talks with experts, discussing the company’s vision through posts, Jyoti is there. Being a public figure wasn’t the case for her a few years back. She, however, decided to turn things around for Fittr and INFS. “I realised, we needed to have a company face. The leadership that shows confidence in our work. The one that is out there, vulnerable. To take the criticism head on and communicate with people. I tried to gather confidence for doing all this and with all grace, it is working out well, what do you think? (chuckles)”.

On being quizzed about the turning point of her life, she preemptively replies back, “Leaving my corporate job. That was a much-needed decision. Comfort of the corporate could be a spiral that you can get stuck in but I think my decision played a pivotal role in my life. I could then freely go on to do what I wanted to.” Would she go on and change something back in life? “Oh yes, maybe choose a different company during IIMC placements. But then its okay learning was still there. Other than that, I would change nothing. All good. I’m satisfied.”

Today she jokes that she used to sleep better when she was in corporate given how busy an entrepreneur’s schedule gets. Though she adds, “My conscience is clean. I’m in a business which is doing good for the people around me. I like it. I sleep good 7 hours a day despite the responsibilities.”

Gender issues and the idea of merit

Jyoti is amongst the top women entrepreneurs of India. This is a big feat given the fact that as per a Bain and Company report, in India, only 31 percent of urban entrepreneurship is owned or led by women. “I understand that there are certain societal tendencies to create the wrong impression or to undervalue us but fortunately I have never faced it. Small incidents here or there still do happen but the solution for a woman in the business field is to put her foot down. She has to hold her ground. Don’t let anybody objectify you. Everything shall be decided on the basis of merit and that is it. If we all, by all I mean both men and women decide that it has to be just our work that shall be the deciding factor, then we can win. This is the penultimate solution to create an equitable society,” Jyoti remarks.

Her message to the entrepreneurs is that one should try to do a better job while thinking about finalising a product. “People are often launching products without even a proper discussion with the target customers. No that cannot happen. Also, employees, take care of them. Take good care of all who work with you. It is the holistic approach of working style. Don’t ignore their interests at all. That is defeating the purpose of changing lives. This simply translates to having a purpose in life. Just passion won’t do. Even if it does, its value to the society would be extremely limited,” she concludes.

For more such interesting stories, follow our Inspire section.

The post Fitness Enthusiast Turns Entrepreneur: Story of Jyoti Dabas appeared first on Dutch Uncles.