Why Many HealthTech Founders Are Overcoached And How To Stop It
The journey of a HealthTech founder is an exciting and challenging one. As they navigate the complex landscape of healthcare innovation, they often seek guidance and support from mentors, advisors, and coaches. While mentorship and coaching are incredibly valuable, there is a growing concern that many HealthTech founders might be overcoached.
In this article, we'll explore this hypothesis and potential problems it may cause. Finally, I want to present an alternative that could lead to more efficient and successful ventures by focusing on execution and experience sharing, the KAPSLY Startup Circles.
Is Overcoaching a Problem?
Overcoaching, in the context of HealthTech entrepreneurship, refers to a situation where founders receive an overwhelming amount of advice, guidance, and mentorship. While this might seem like a positive aspect, it can have unintended consequences.
1. Too Much Input and Decision Fatigue
One of the primary challenges that overcoaching can create is decision fatigue. HealthTech founders often find themselves bombarded with input from various advisors, each offering their own perspective and recommendations. While diversity of input can be beneficial, an excess of it can lead to confusion and hesitation when making critical decisions. The founder may spend more time analyzing advice than taking action.
2. Execution Matters
While coaching and mentoring provide valuable insights, they cannot build a business on their own. Execution is the driving force behind any successful venture. Overcoached founders may become so focused on advice that they overlook the importance of practical execution. Building a HealthTech startup requires a deep understanding of the industry, operational excellence, and the ability to adapt to changing circumstances.
3. Wrong Advice from Inexperienced Coaches
Another potential issue arises when founders receive advice from coaches with a corporate background but no experience in founding a startup themselves. While corporate knowledge can be valuable, the challenges and dynamics of a startup are often vastly different. Advice that works in a corporate setting may not necessarily translate to the startup world. Following the wrong advice can lead to misguided efforts and wasted resources.
4. The Short-Lived Nature of Advice
One common problem with coaching is its often short-lived nature. Coaches frequently come and go, with brief engagements that might not provide sufficient time for the advice to manifest tangible results. This can leave founders feeling lost and unsupported once the coaching relationship ends. It is important to mention that there are also long-term coaching programs such as the ones from InnoSuisse and Genisuisse.
A Potential Solution: Execution Partners
To address the issue of overcoaching and its associated challenges, an alternative approach could be the introduction of execution partners. These partners would work alongside HealthTech founders for an extended period, providing ongoing support and guidance. Here's how execution partners could offer a more effective solution:
Long-Term Accountability: Execution partners would be committed to the long-term success of the startup. They would help founders set and achieve goals over an extended period, ensuring accountability and progress.
Operational Expertise: Founders often lack the resources and know-how for proper execution. Execution partners would bring operational expertise, helping founders implement the right processes and strategies to drive the business forward.
Networking and Relationships: Building a successful HealthTech startup often requires access to a network of industry professionals and potential partners. Execution partners could leverage their connections to open doors and facilitate collaborations that might otherwise be inaccessible to founders.
Adaptation and Flexibility: Unlike traditional coaching, execution partners would have a vested interest in the long-term success of the startup. They would adapt to the evolving needs of the business, providing guidance and support as challenges and opportunities arise.
Conclusion
While coaching and mentorship have their merits, the phenomenon of overcoaching can hinder the progress of HealthTech founders. Decision fatigue, a focus on advice over execution, and potentially misguided recommendations can all contribute to prolonged go-to-market times and decreased chances of success.
In response to these challenges, the concept of execution partners and a focus on sharing experience from founders rather than providing tips, emerges as a promising solution. These partners would provide founders with the ongoing support, expertise, and accountability needed to navigate the complex landscape of HealthTech entrepreneurship successfully.
Ultimately, the key takeaway is that while advice is valuable, it must be complemented by practical execution and long-term support. By embracing the concept of execution partners, HealthTech founders may find a more efficient and effective path to realizing their vision and making a lasting impact in the healthcare industry.
If this speaks to you, check out the KAPSLY Startup Circles. Besides becoming your execution partner, the circles also become your trusted environment where you share problems, without getting additional tips but first hand experiences from other members.
