Founders Bootcamp Alumni Spotlight: Quality Interactions (S18-FBGB)

Quality Interactions is a leading healthcare education company aiming to improve health outcomes as well as  returns for many medical practitioners. Michele Brown joined the already-existing company back in 2014 as a consultant. The company was founded by three medical doctors who were experts in health disparities and the difference between how some Americans receive health care treatments versus others. Michele has actively helped build the company and is currently the CEO.

People of color, people with low health literacy, and people who do not speak English in the U.S. are more expensive for the healthcare industry, costing. $30 billion each year. There is a desire to reduce costs, which results in medical errors. The non-financial costs are that people are getting sicker more frequently and possibly dying.

Quality Interactions offers training for frontline health care workers with culture competency and the skills and communication required to improve the growing diverse patient population. They train doctors, nurses, and other frontline workers to focus on customer service and how to understand their patients better. They have many courses training on LGBT populations and on unconscious bias that shows up in the healthcare system. Their interactive courses offer real patient scenarios with audio to allow these learners to gain skills, strategies and approaches to improve their relationships with their patients. The mission is to democratize healthcare and level the playing field for everyone to receive the best quality healthcare. Research has shown that the same quality of care is not given to minorities and Quality Interactions stands up for those who may be initially treated differently.

This is extremely personal for Michele because she has faced this discrimination and unfair treatment from healthcare professionals. When Michele was younger she went to the emergency room because of a stomach ache. Immediately the health care professionals started to speak to her slowly and question if she was pregnant since she was a minority. In reality, her appendix ruptured and she was being screened for pregnancy. This ordeal left Michele hours away from death. Even though she had full insurance,she was not immune from experiencing this health care disparity.

When Michele found out about what Quality Interactions was trying to do, she was struck that others saw the need to solve healthcare disparity. She admired the mission and the value of the content, but saw the unique opportunity to have industry experts to try to solve this problem. Compared to other healthcare companies aiming to seek improvements in the industry, Quality Interactions has a competitive advantage in cultural competency. They believe that the most important thing to develop is trust between the patient and the healthcare providers, especially if their religion does not permit certain practices to be done, if there is a language barrier, or if health care practitioners are not  making sure their patients understand all their options.

Obstacles still arose for the company. Some prospective customers  try to develop their own content. Prospects think it will be cheaper than hiring an instructional designer. In order to overcome this challenge, they have a pre and post test to show improvements from communication and other skills learned.

Michele joined the Founders Bootcamp because she is a firm believer in capacity building, and she was intrigued to join a program that focused on developing a recurring revenue model. It was important for Michele to implement this learning on her own pace and each module provided a different perspective. One of the biggest values was the opportunity to explore a recurring revenue strategy, where she gained actual tactics to apply them to their business.

Prior to the Bootcamp, Michele was a part of other growth accelerators and she has a background in banking. She had a sense of business growth, but she said that once you are an entrepreneur you come across things that you cannot know from the outside looking in. Since the Bootcamp, Michele has successful secured $350,000 in investment capital. The company has hired new employees and a VP of Sales who will be of big help to them. They are negotiating their first seven figure deal and have developed a number of recurring revenue deals. In three to five years Quality Interactions aims to be a $20 million company. Michele’s advice for entrepreneurs is to look for help to grow, while putting more emphasis on overall strategy rather than doing minute day-to-day tasks. Be sure to check out Quality Interactions and what they look to accomplish in the near future.

7 Secrets to Winning Your Next Pitch Competition: Part 4

At last, here we are to conclude our final part on the seven secrets to winning a pitch competition. Thank you for making it this far through the series. These final tips can help separate you from the rest. Stick around to the end so we can provide you with a quick snapshot of all the tips in one easy place to find.

6. Know Your Numbers:

Tip number 6 can make all the difference if you want judges to truly entertain your offer. This tip is to show off your numbers, including revenues, profits, number of customers reached, and much more. Companies that show a growth trend in their revenues year after year tend to get the most attention from judges because the proof shows that they are able to grow year after year. It is also important to illustrate how many consumers are in your potential target market, and what your numbers would look like if you captured a larger segment of that market.

Your financial projections will paint the picture of the health of your company, it will either show that you are onto something special, or you are on the cusp of dying off. However, anyone can put up flashy numbers, so you must show the judges how you arrived at those numbers. If you have multiple revenue streams, then it is also necessary to show the individual revenues of each stream and then the overall aggregate. If your numbers are not all that great at the moment, then you must be open and transparent with the judges so that you can tell them how you plan on growing your revenue if you had more capital.

7. Engage the Audience and Have Fun With Telling Your Story:

Last but certainly not least, the final tip is to allow your personality and individuality to shine through. If there are two companies with similar potential and risk, the judges will choose the company with the founder who is the most likable and exudes the most positive energy. People invest in people at the end of the day, and want to see that you have what it takes to win at the highest level. So many great companies pitch in front of investors with really strong business models, but they get overlooked because they were too bland and could not make the connection with the audience. You will still need a strong business model to win, but showing off your charismatic personality could be the difference between you winning and someone else. Please take the competition seriously, but do not be afraid to have some fun out there and engage with the crowd. It will take the nervousness away from you and it will allow you to show who you are as a founder.

Pitch competitions can seem very stressful and nerve wracking on the surface, but with a little guidance and some practice they really are not that bad. Here at LIFT we hope these tips can be of some use to you if you ever decide to choose a different route to get funded. It does not hurt to try, and win or lose the experience that you will gain from competing in a pitch competition can be enormous. By seeing what other entrepreneurs are doing you can potentially learn from them and even network to help each other out. The more you pitch the more likely you are to win.

For example one of the companies that went through our Challenge Program, “Elite Sweets,” had never pitched before. They ultimately ended up winning the audience choice award, but not only that, a few months later when they pitched again they ended up winning around $200,000 in prize money at a large pitch competition in San Francisco called WeWork. Their dedication and determination to improve on their pitch paid off and is the ultimate testament to why pitch competitions are one of the newest trends to get funded.

LIFT hopes that this four-part series will help you unlock your full potential of pitching. These secrets will not only help you with designing and performing a pitch, but it should help you take a step back and look at your business. If you think your business needs a little boost, then please be sure to check out our programs, which are designed to accelerate your business growth. If you loved the tips, and want an easier way of holding them, download our PDF graphic with a short synopsis of each key.

We wish you the best of luck if you decide to pitch. If you want to learn more about our programs and pitch competitions, check us out here.