the enablement of Successful Health Tourism Entrepreneurship
Konstantinos Konstantinidis, M.D., Ph.D.
Director - ExCtu - addressing the Health Tourism Sector "Builder Class" (a.k.a. the "growth makers" and “developers”) by providing the infrastructure supporting economic activity and enabling the system to function
…and the parallel Organic Economic Growth of the Sector
NOTE
This Article, to a large degree, is about Enterprises (a.k.a. “businesses”).
Businesses designed, created – or transformed – and then operated, based on (or according to) arcHTos, the Architecture and Operating System, are regarded as arcHTos Derivatives.
The term arcHTos Derivatives (or just Derivatives) includes:
Preamble
…my “arrived at” (i.e., current) thinking and doing on the subject of Health Tourism
My “arrived at” (i.e., current) thinking and doing on the subject of Health Tourism (representing 15 years’ worth of considering and reconsidering) has been distilled in the eBook titled “Internet Century Health Tourism”.
I need to remind that the book is a “read and do” publication – a management textbook as opposed to a theoretical academic tome.
If one wants to (greatly) narrow things down, the book is about transformation – and the benefits accruing from this “change”.
It addresses the Supply Side – and provides practical information, knowledge and insights – of value to those tasked with designing, creating – or transforming – and then operating what are now known as arcHTos Derivatives.
The transformation, from Conventional to Contemporary, was motivated and justified by the fact that the former had exhausted its repertoire and served its purpose – and its growth had stalled.
Another way of putting it is that Conventional Health Tourism was associated with shortcomings (in the form of Fallacies, Deficiencies and Failings) which needed to be addressed.
The Book’s content has been broken down into two volumes.
Volume 1 (Trailblazing the Way Forward) is about the Design and Adoption (acceptance) of the Concept and Practice
Volume 2 (the Road Ahead) is about Implementation (application) of the Concept and Practice
the establishment and introduction of a new Economic Sector
…carrying with it new entrepreneurial prospects and opportunities
Internet Century Health Tourism (ICHT) is the result of transformation of the “concept & practice and activity” and the consequent establishment of a new Economic Sector (meaning that now, Health Tourism is regarded as Economic Sector).
This development laid the foundations and created the preconditions for organic economic growth through Entrepreneurship.
Organic Economic Growth simply and clearly means ‘increasing the size of the pie”.
Each time a new Economic Sector comes into being, it carries with it new entrepreneurial prospects and opportunities – and the seeds for the creation of new enterprises.
It is anticipated that with the induction of Protégés into the Health Tourism Sector, we will see new enterprises coming into being.
This is because the “whole system” associated with ICHT motivates and enables new enterprises to spring up to capitalize on the opportunities revealed by the arcHTos Foundational Innovative Strategies.
And of course, as explained further down, ICHT (a.k.a. Contemporary Health Tourism) enables the growth in the size of the pie.
the contemporary meaning of “Entrepreneurship”
…the process of starting and developing a company, with the aim of delivering something new or improved to the market (i.e., to the “demand side”)
In terms of etymology, the word “entrepreneurship” is derived from the French verb “entreprendre”, meaning to undertake. From there emerged the term “entrepreneur”, meaning a person who undertakes a project.
Consequently, in simple terms, an enterprise is an “undertaking”.
In the field of economics, the term entrepreneur is used for an entity which has the ability to translate inventions or technologies into products and services.
The contemporary meaning of “Entrepreneurship” (and for the purpose of this paper), entrepreneurship is the process of starting and developing a company, with the aim of delivering something new or improved to the market (i.e., to the “demand side”).
Entrepreneurship involves the formation of a start-up company, managed by entrepreneurs (frequently young), often under considerable personal and financial risk.
A key distinction between start-ups and other small or young businesses is an aspiration (realized or not) to substantially grow.
Startups for Upstarts
…from Protégé to businessperson
As pointed out above, Entrepreneurship involves the formation of a start-up company, managed by entrepreneurs (frequently young), often under considerable personal and financial risk.
This fact was been taken into consideration by Contemporary Health Tourism (a.k.a. Internet Century Health Tourism - ICHT) which makes provision for inducting young, techno-savvy entrepreneurs and students – referred to as Protégés (and representing the leaders of tomorrow) - into the Domain and Ecosystem – and providing them with mentoring.
Protégé:
Mentoring and other support is provided by the Health Tourism “Vital Few” and the “Wise Heads”.
the Vital Few:
Wise Heads:
NOTE
See dedicated paper on the subject of Protégés – available free on request: Health Tourism Protégés (tomorrow’s leaders – contributing towards the sustainability and continuity of the Sector).
Contemporary Health Tourism and the enablement of Organic Economic Growth
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…i.e., increase in the size of the Pie
Thanks to ICHT, the size of the Health Tourism Pie will grow because ICHT is “additive” (adds to the existing) rather than “substitutive” (replacing one with another). Its success does not rely on the “beggaring thy neighbor” strategy.
Furthermore, as has been demonstrated, ICHT is the result of (planned) evolution rather than revolution – and as such, does not negate Conventional Health Tourism, but rather, supplements and complements it.
ICHT – with ht8 - replaced the Short Tail with the Long Tail approach to shaping Market Boundaries and Industry Structure (more choice increases demand and consumption). ht8 enables the Industry to address a broader Market.
ICHT repurposed the concept & practice and activity (from a “need” to be endured, to a “want” to be enjoyed – as an attractive lifestyle choice – for all - the youngerly, the elderly and the in-between).
ICHT is part of the modern economy, which embraces “progress” - which in turn, enables innovations to increase the sum total.
New services can be created - and consumed - without reducing the demand and consumption of the existing ones.
People develop additional new tastes – and consume more.
This is how the pie will grow.
NOTE
See dedicated paper on the subject of Growth – available free on request: Growth – the significance and value of Contemporary Health Tourism (and the role of “trust in the future”, “credit”, an “ever-growing pie” and “progress”).
the role of arcHTos in enabling Entrepreneurship
…with support provided by the Sandbox and its Tools (a.k.a. Boosting Additives)
arcHTos is the Health Tourism Architecture and Operating System (developed by ExCtu) serving as the “blueprint” in designing, creating – or transforming – and then operating what are known as “arcHTos Derivatives” – which includes Enterprises (a.k.a. Businesses).
arcHTos, is supported – and complemented - in its role, by the arcHTos Sandbox which can be thought of as the notional place, area, or environment providing the Tools – some would say Toys - (a.k.a. the "boosting additives") which empower arcHTos (the Architecture and Operating System) to achieve its objectives.
The Sandbox and its Tools, in combination with arcHTos, together, constitute a Comprehensive System for designing, creating – or transforming – and operating Enterprises (Businesses) – which in addition to being “compatible and compliant”, can also be Cachets (“high-end Brands”) and Blue Oceans (“one-of-a-kind” – which renders competition irrelevant).
NOTE
See dedicated papers on the subjects of arcHTos and the Sandbox, available free on request:
factors contributing to the probability of Success
…in other words, create an enterprise which will make a “killing”
To state the obvious, the secret recipe for creating a successful Health Tourism Sector enterprise (or such an enterprise in any sector) is not known – but as I explain further down “it can be known” – by using the suitable tools (which are now available).
If the recipe was known (in which case, it would not be a secret) – or was “obvious” - then someone next door would have already come up with the idea and it would have become generic.
So, at the very start, the point I want to make (and which I learned from the teachings of Nassim Nicholas Taleb) is that in order to create an enterprise which has a high probability of success (i.e., make a “killing”), it needs based on an idea that is not easily conceived of by the Health Tourism “supply side” (i.e., Industry) players.
Make a killing:
The idea has to be at some distance from expectations. The more unexpected the idea behind such a venture, the smaller the number of competitors, and the more successful the entrepreneur who implements the idea.
In other words, the payoff (success) of a venture (enterprise – business) is inversely proportional to what it is expected to be.
Having said all this – and although one cannot go and pick the recipe “off the shelf” – and as I intimated earlier, the tools are available for coming up with the recipe.
off-the-shelf:
creating a business which is “beyond expectations”
…and “way beyond expectations”
As I made the point of stating above, in order to create an enterprise which has a high probability of success (i.e., make a “killing”), it has to be based on an idea which is at some distance from expectations. The more unexpected the idea underpinning such a venture, the more successful the business is likely to prove.
The ICHT Rating System and the Market reward the “degree of unexpectedness”.
Creating a business which is merely “compatible and compliant” – and based on an existing idea or model, is unlikely to prove particularly profitable.
Such a business, which is merely “compatible and compliant” and based on an idea which is “Within Expectations”, may be recognized as having adopted and implemented “best practices” – and thus, rated “Excellent” (and awarded 1 Credit Point, according to the Health Tourism “Objective Criteria” Rating System), but it is still regarded as a “commodity” – and unlikely to “stand out” – and will certainly not make a killing.
Commodity:
As already emphasized, businesses which stand out and have a high probability of “making a splash” are those based on a model or idea which is, at least “at Some Distance from Expectations”, and ideally, “Way Beyond Expectations”.
A business based on a model or idea which is at “Some Distance from Expectations” is considered to be a Cachet (High-End Brand), is awarded 2 Credit Points and given the rating of Stellar.
A business based on a model or idea which is “Way Beyond Expectations”, renders competition irrelevant and is considered to be a “Blue Ocean”.
Blue Oceans are awarded 3 Credit Points and rated as “Singular”.
One can now surmise that in order to make a killing in Health Tourism, a business needs to be at least a Cachet – and at best, a Blue Ocean.
The recipe for creating a Cachet or Blue Ocean cannot be acquired “ready-made” – it is “bespoke” – i.e., it has to be custom developed.
Bespoke:
Thankfully, unique ideas and models for a Health Tourism business can be formulated using the tools provided by the Sandbox, together with the handholding provided by a sector-specific consultancy, such as ExCtu.
NOTE
See dedicated paper referring to Rating System - available free on request: the Health Tourism “Objective Criteria” Rating System - Excellent (Best Practices), Stellar (Next Practices) and Singular (Blue Oceans)
The paper on the Rating System is also available as a LinkedIn Article: https://www.dhirubhai.net/pulse/health-tourism-objective-criteria-rating-system-constantine/