?? Bulls-Eye Focus | 5 Common Reasons Why HealthTech Entrepreneurs Fail | The HealthTech Collective

Welcome back! Here are my 3 highlights for August:

?

1.?? ?? Bulls-Eye Focus

If you’ve been an entrepreneur for any amount of time, you know that your to-do lists are typically much longer than your days… And if you’re like a lot of the people I work with, you’re a VISIONARY.

You love the idea of what you’re building, but it’s not your ONLY idea. As a matter of fact, you might as well add “chasing shiny objects” to your list of hobbies…

You don’t have a problem coming up with new ideas, you have a problem focusing your attention and prioritizing. Sound familiar?

To build that million-dollar brand without sacrificing your sanity, you need to become indistractable though. Because, let's face it, having a million-dollar vision is exhilarating, but turning that vision into reality requires strategic implementation.

Start by identifying the core pillars of your vision. What are the key objectives that will drive your business forward? Once you've got them, create a roadmap – a clear path that guides your actions. When you're tempted to stray off course, remind yourself of that bullseye. Stay locked in on your goals and let your focus be your guiding star.

Imagine your vision as the meticulously crafted blueprint of a skyscraper. It outlines every floor, every detail, and every aspiration you have for your business. This blueprint is what sets the course, gives purpose, and defines the skyline you're aiming to reach.

Now, think of follow-through as the fuel that powers the construction of your towering vision.

Much like a steady supply of fuel keeps the construction machinery humming, consistent follow-through keeps your progress steady. It's not about bursts of effort, but the steady rhythm of action that builds upon your blueprint. When you align your actions with your vision, you're ensuring that every brick laid, every beam placed, contributes to the magnificent structure you've envisioned.

It's not like I’m telling you something new here, right? You KNOW that a vision without action is just a dream. Yet, as a visionary, you are more of a “WHAT” than a “HOW” person, and that's neither wrong nor your fault at all. It can become a huge problem for your business though.

If you realize that you’re drowning in ideas and tasks and you’re not making any progress, you can either WORK on your weaknesses, or HIRE for your weaknesses. If you have the budget to get help, the easiest way to get unstuck is to find someone like me who is very process-oriented and who can help you with focus, strategy & accountability.

If you don’t have the budget to work with someone right now, here are some tips for prioritizing with purpose:

1.?? Set your goals for the next 3 months based on the overall goal you want to achieve (quarterly goals & monthly goals).

2.?? Choose your strategy & tactics that will get you there.

3.?? Based on your goals, make a weekly plan that incorporates your chosen strategy & tactics.

4.?? Each day, look at your list of tasks.

Highlight the 1-3 tasks that align most closely with your vision and goals. These are your power tasks – the ones that move the needle. Tackle them when your energy is at its peak.

5.?? Delegate or eliminate tasks that don't align with your objectives.

6.?? And here's a pro tip: Batch similar tasks together to minimize context-switching and boost efficiency.

?

2. 5 Common Reasons Why HealthTech Entrepreneurs Struggle

Over the past few months, I’ve worked with a few selected, early-stage HealthTech entrepreneurs to help them get unstuck in their businesses.

Of course, every business is unique, and every founder is different, but there were a few general roadblocks that kept coming up over and over again and that I hope can serve you as a reminder of what to pay attention to:

1.?? Trying to be everything to everybody

I get it: You want to help as many people as possible and make the world a better place. But before you can serve EVERYONE, you have to serve SOMEONE.

Failing to understand your target market, niche, and brand vision leads to a non-differentiated business that doesn't stand out and fails to attract dream customers who become brand enthusiasts. A focused niche beats a broad reach.

??

2.?? Insufficient validation & market fit

A lot of founders just focus on creating something THEY think is awesome.

Failing to thoroughly validate the product or solution before development often leads to building something that doesn't address a real problem or need.

?

3.?? Inadequate user-centric design

A lot of founders are so proud of their unique framework and system that they insist on using it even when it feels like trying to fit a square peg in a round hole.

Failing to be flexible in your approach and willing to find the best & most convenient solution for your customers leads to low adaptation and high customer dissatisfaction.

?

4.?? Insufficient Planning & Implementation

Vision + Strategy + Action = Success. No shortcuts.

?

5.?? Burning Out

Working 24/7 and sacrificing your health, relationships, and happiness is not a long-term strategy.

Failing to build systems that ensure you have enough time and energy for the things that are important to you leads to lots of unintended negative consequences. As an early-stage founder, YOU are the foundation of your business, and you want that foundation to be as strong as possible.

3.?? Introducing The HealthTech Collective: Your Holistic Business Accelerator

I am incredibly passionate about 1:1 coaching because it allows me to dive deep and help my clients remove the roadblocks standing in their way, enabling them to achieve their goals with more ease and flow.

Yet there's something magical about the synergy created by a small group of dedicated individuals. Bringing together people with different backgrounds, experiences, skill sets, and viewpoints is an incredibly effective way of getting unstuck.

?

“The Master Mind principle: Two or more people actively engaged in the pursuit of a definite purpose with a positive mental attitude, constitute an unbeatable force. ”

—?Napoleon Hill

?

We all have our blind spots. As ambitious entrepreneurs, we need a support system that helps us fill in those gaps, offers valuable feedback, provides suggestions, and guides us through the ups and downs of building our businesses.

Life as an entrepreneur can be tough. Especially during those early days of a new venture when you're deep in the weeds, doing ALL THE THINGS, and you're still trying to wrap your head around what it is that you're building, why you're building it, and how you're building it. Let's just be real: It's a giant mess with a lot of moving parts.

No wonder a lot of founders are feeling increasingly overwhelmed, frustrated, and isolated.

What if there was a better way to build your brand than struggling alone?

What if you could plug into a support ecosystem that helps you and a committed community of like-minded entrepreneurs fast-track sustainable success?

That would be amazing, right?

That's why I've spent the past few months crafting a holistic business accelerator program, specifically designed for early-stage HealthTech entrepreneurs who want to build their (next) multi-million dollar HealthTech business without burning out: The HealthTech Collective.

This isn't just any ordinary program. It's a community of ambitious, mission-driven entrepreneurs, united by the shared goal of creating solutions that make the world a better place.

Some of the participants have achieved successful 8- or 9-figure exits before, and yet they found tremendous value in this program.

Why? Because here, they discovered a safe and supportive space where they got candid feedback, fresh perspectives, tailored support, and accountability. Imagine having access to a committed community of like-minded individuals who genuinely want to see you succeed.

In just three short months in the HealthTech Collective, the participants gained incredible clarity about their roadblocks and learned how to overcome them, creating unstoppable momentum.

If you're an early-stage HealthTech entrepreneur seeking a vibrant community of like-minded individuals, accountability, structure, systems, and personalized support from world-class experts, you're in the right place.

??

There are only 5 spots available in our next cohort, so if you’d like to be one of the lucky ones to join us in the HealthTech Collective, reach out to me today to learn more or apply here to see if you're a good fit for this program. Can’t wait to learn more about your project!

Together, let's build something extraordinary!

?

Until next time,

?

Claudia

?

PS: Elevate your game with the Wired For Success Podcast . ?? Get weekly doses of science, self-development, and entrepreneurship insights to fuel your journey to the top. Ready for that next level of success? Subscribe today!