Jason Krantz started his first company in 2000, which was an amazing year to found a business followed by 3 very tough years for early-stage businesses. That environment forced Jason to build a capital efficient, bootstrapped business from day 1. When considering his 2nd act, Jason identified 3 factors that he felt would reshape the healthcare industry:

1. An explosion of data as organizations adopted electronic health record systems for the first time.
2. The passing of the affordable care act.
3. Tremendous market consolidation.

Jason decided Definitive Healthcare would be the GPS system for the healthcare universe. Definitive helps customers understand how all the organizations in the industry are related and how patients flow through the entire healthcare ecosystem.

Example - Definitive helps life science companies take new drugs to market in a more effective & efficient manner (lower time and cost). 

Today Definitive has > $200M in ARR with plans to reach over $1bn over the next 5-7 years. After spending the last 12 years building data sets that are not available anywhere else and investing in data science to draw out detailed market insights from this data, Definitive also has an enviable moat as their product is incredibly difficult to replicate. 

Jason joins Scott Britton and Andrei Newman on the Built By Humans podcast. Here are some key takeaways from the conversation:

• Scaling a business is incredibly challenging. What is interesting is that the challenges are not necessarily related or transferable across stages. Your challenges with 100 employees are different from 200, and different from what you will face at 300. As a founder, you must constantly evolve to be effective in each phase. 
• Data businesses take a long time to build but the reward can be very large if you aggregate a dataset that is truly unique.
• Data companies must invest in having strategic (market insights) and tactical (contact info) data if they want to drive high user engagement.
• Founders who understand the power of capital efficiency and invest in it early will have a ton of leverage in future fundraising conversations. 
•  It is quite common for companies to drastically underestimate the size of their market. It takes time and effort to properly identify and carve out your addressable market.

Henrique and his co-founder, Pedro, started their entrepreneurial journey at 16 when they started pagar.me. In the process of doing so, they learned a ton about what product market fit looks like and how difficult it is to run a profitable business. 

Henrique and Pedro went on to stumble on quite the market opportunity: Why was it that startups were raising millions of dollars from VC funds but then struggling to get a corporate credit card with a $30,000 credit line? In short, they identified an underserved market with tons of latent demand and very little actual credit risk. These companies may have been considered ‘risky’, but in reality, they were very credit-worthy. 

5 years and change later, Brex has raised over $1.5Bn, employees well over 1,200 people, and is a market leader in the corporate credit card and spend management space. 

Henrique joins Scott Britton and Andrei Newman on the Built By Humans podcast as they discuss how to design processes that scale with your company, the importance of focus, and why being extremely authentic is the key to being an effective leader. Here are some key takeaways from the conversation:

• The best CEOs are extremely authentic to themselves and build a team of people around them that allow them to be the best version of themselves. 
• Antiquated industry infrastructure can yield fantastic opportunities for disruption. In Brex’s case, banking infrastructure prevented incumbents from underwriting customers daily which turned out to be a key differentiator for Brex. 
• Calculate the true cost of a new process before implementing it. Many processes make the lives of 99% of your people worse all in the name of preventing the 1% of times where things go wrong. 
• A CEOs job is to balance risk with speed and decide what types of risks they are willing to take on in order to move faster. 
•  Doubling headcount doesn’t mean double the output. Many times leadership bandwidth is the biggest bottleneck to productivity. 
• Focus is imperative. There will always be many strategic directions that have merit and value to your company but it’s important to be okay ceding some to competitors in the name of doubling down on your core business.

Dave Wessinger started PointClickCare in his garage alongside his brother Mike. They started the company with the goal of improving senior care through software and digitization. What began as a garage startup became Dave’s life work as he has now been working on this mission for 25+ years. Today, PointClickCare has over 1500 employees and powers over 65% of nursing homes in the markets they have entered.  

Dave Wessinger joined Scott Britton and Andrei Newman on the Built By Humans podcast to discuss data transparency in healthcare, bootstrapping for 15 years, and why prioritizing growth in a company’s early phases is critical to success. Here are some key takeaways:

• Achieving data transparency in healthcare is a regulatory challenge more than it is a technical one. 
• Great team dynamics drive outsized outcomes more frequently than individual talent.  
• Taking on large customers before you are ready is the only way to grow to a point where you will be able to service them in a satisfactory manner in the future.
• When evaluating a role, people should aim to identify whether a company is a growth business or a lifestyle business.
• Prioritizing your people should always be P1. If you do, they will make sure to take care of your customers.