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Starting a business is no easy feat.
It is estimated that nearly 20% of all startups will fail in the first year. Even with the proper funding, many entrepreneurs will underestimate the time it takes to become successful. Poor product-market fit, wrong marketing strategies, team/HR issues and cash flow problems are among the top reasons for failure among startups.
The right guidance can make all the difference for a new business. That’s why CQuence Health offers strategic guidance.
A Trusted Advisor
The investment we provide to our partners extends beyond financial considerations. As a trusted advisor, CQuence is committed to working alongside the companies we invest in to plan strategies and implement processes to help them succeed at every stage of their growth cycle.
With decades of experience in healthcare, a partnership with CQuence means access to a network of high-value industry connections ensuring our partners have the insights they need to excel. It also means joining a network of peers who understand the struggles of entrepreneurship.
“Something we say often is, ‘We know because we’ve been there,’” said Mike Cassling, Executive Chairman of CQuence. “We have nearly 40 years of experience in the healthcare space. Given its complex and dynamic nature, healthcare is a difficult industry to navigate. With access to our internal and external network, our partners receive the support they need to guide decision-making from goal setting to product development to ensure they stay ahead of the curve.”
Our Role as a Strategic Advisor
We take a genuine interest in the success of companies striving to make an impact. Here’s what we bring to the table as a partner and advisor:
1. We gain an in-depth understanding of your vision, your passion and your purpose
Together with our portfolio companies, we share a common vision to improve healthcare access and outcomes to positively impact patient lives. We believe the strategic integration of mission, vision, core values and purpose into a company culture drives sustainable success for an organization.
If these principles aren’t clearly defined, it’s difficult for your team, and your audience, to understand your value. We’ll help you clarify your “why” so you can make a bigger impact.
2. We get up to speed on your business strategy and growth plan
A business strategy can make or break a burgeoning business. A well-designed plan is critical to your success. It details how your business will compete, be managed and, ultimately, become profitable.
Business needs can shift quickly, so it’s important to stay focused. Our network of business leaders can advise on your corporate strategy to make sure goals and resources are prioritized correctly.
Intercept Telehealth is an example of a company that has benefitted from this type of business mentorship. Founded by practicing transplant surgeon, Diego Reino, MD, the company provides tele-critical care solutions to hospitals with a mission to transform healthcare delivery, enhance the quality of critical care and increase patient well-being.
“I’ve been extensively trained in healthcare, but running a company is not something I’m an expert in,” said Dr. Reino, founder and CEO. “Some of my mentors that I’ve met at CQuence have ushered me through some of the critical decision-making steps to help move our company forward. It was not something that I was expecting, and it has been a really welcomed surprise.”
3. We conduct due diligence and research to validate your market need, size, scope and opportunity
To stand out, you need to understand your market and competition. This means staying on top of industry trends and clarifying your competitive advantage, all while being nimble in your approach. We can help you identify opportunities to diversify your product or solution and stay relevant in a competitive landscape.
Health systems are facing critical decisions about the future of their surgical care businesses, including which services to offer in ASCs, how to mix services across locations and what ownership/partnership structures to pursue.
To address this challenge, Kada Health, a management and consulting company, helps health systems and physician groups develop their outpatient strategy—often through new site development in ambulatory surgery centers, imaging centers, office-based laboratories and other ambulatory sites of care.
CQuence recently hosted a workshop with Kada and a healthcare research organization to dive deep into trends surrounding the site-of-care shift and explore the impact of health system readiness (or lack there of) on Kada's service offering and sales process.
It's necessary stay focused when you're building or scaling your business, but equally important to stay abreast of industry trends so you don’t lose sight of the bigger picture. An outsider’s perspective removes the blinders that can hinder your business’s success.
4. We validate and, if necessary, adjust your financial and operating models to fast track your road to success
Building, testing and deploying the right financial and operational approaches can make or break the survival and growth of a business. Strategic decision making is critical. That’s why we help entrepreneurs develop and critique different models and implement sound practices that can help you thrive.
Through this approach, we recently helped WasteMedX discover the opportunity to evolve its operating model and cast a wider net in its target market. The company’s waste disposal system uses unique ozone technology to safely and efficiently dispose of medical waste. As a piece of capital equipment, this solution comes with a significant upfront cost.
By offering their product as a service, in addition to the option to purchase the system outright, they opened the door to more business by appealing to healthcare organizations who would rather pay a monthly fee than carry the cost on their balance sheet over time.
CQuence understands that your time and resources are limited. Our strategic guidance is designed to maximize your results because your success is our success.
If you’re interested in working together to shape the future of healthcare, contact us so we can learn about your business and your vision.