You know what it’s like when you get a new smart phone. Once you’ve got the phone connected to the cellular network and tried to figure things out without the manual, you start looking for the smart phone apps. You might download a few of the apps and even buy one or two that you think will be useful or provide entertainment.
Flip forward a few months and you have not used many of those apps and wish the ones that you had bought you could claim a refund for. Some smart phones do provide an app refund but you have to request within 15 minutes of paying for it. Others offer refunds but it’s a hassle to go through the rigmarole to claim back your money. Continue reading “Are you experimenting enough?”
Two John Hopkins medical students came up with an idea for a business and with the help of an accelerator program have launched a company that provides security for electronic health records. The two medical students have developed a tool that protects the hospital’s electronic health record system. Instead of the traditional approach that focuses on protecting the perimeter, the tool focuses on building an immune system. The company now plans to employee between four and 10 people and is looking for data scientists, engineers and technical experts to help fine-tune its software program so it can be used for hospitals and health systems of different sizes.
This is an example of two medical students who went beyond their medical studies and came up with an idea that can potentially provide great rewards for them. Why would they go above and beyond their medical studies to become medical doctors and take on the risks involved in starting a new business from scratch? Why would they put their reputations on the line with the possibility of failure which comes with the territory in forming start-up enterprises? Continue reading “Why come up with a new business idea and face the high risk of failure?”