Hiscox Brave Entrepreneur Interview Series
This is the seventh episode of a ten-episode series. Follow Hiscox Brave Entrepreneur Interview Series at Under30CEO.com.
Interview series sponsored by Hiscox Small Business Insurance. Hiscox specializes in IT / technology, marketing, consulting, health and beauty, photography and many other professional services business, creating coverage for specific risks in your industry..
Entrepreneurs have the power to change the world around them. When faced with adversity and problems, they create solutions to improve the world for themselves and others. Shraddha Agarwal is an entrepreneur who is making an impact. In addition to being president and co-founder of ContextMedia, she was a startup consultant, investor, founding partner of Jumpstart Ventures and winner of the 2013 Chicago Moxie Award as Tech Woman of the Year.
Q: Do you think entrepreneurs are brave?
A: I think there is a lot of courage in what you follow, but maybe there is a lot more perseverance and determination needed as an entrepreneur. It takes a lot of courage to start, but it takes more courage, perseverance and determination to continue.
Asked for her best advice for fellow young entrepreneurs, Shraddha encouraged others to look at ‘why’. “The first step I would recommend to an entrepreneur is to find out the reason. Why are you doing what you are doing? As your business grows there will be moments that will challenge your decisions and if you have a ‘why’ to go back to as a basis, you can overcome many of these challenges on that basis. “
Founded in 2006, ContextMedia has grown annually, even in difficult economic times and has learned how to build a successful company. “Starting a business takes a lot of time, energy, focus; And it’s really important to have the passion for it. “
Respect and co-founder Rishi Shah started ContextMedia, a health information service organization, while studying at Northwestern University. “Sage and I created ContextMedia because we had a personal part in improving health outcomes. We both cared for family members living with chronic conditions – such as diabetes – and we recognized the power and necessity of providing health education at the right time when people make decisions about their health. “
What was once the idea in college is that more than 25 million patients a year now live with a chronic condition. The company provides a platform and equipment that displays healthcare-related information and messages to patients in the waiting and testing rooms. The messages range from the healthy cooking section to the television show focusing on caring for a specific disease.
Co-founders took a big risk when buying and installing expensive equipment in physicians’ offices. They did their research and work behind the scenes, but as Shraddha said, “If (our) conjecture didn’t work, (we) could have failed completely.” ContextMedia has also moved away from the traditional method of contracting for such services, a risk that has paid off.
Despite being a standard in the industry, Respect and Sage have decided to go against the grain and no long-term commitment or agreement is required when creating specifications for the services they provide. They encouraged customers to “keep it if you find it worth it.” They did. The agency is now working with more than 4,000 hospitals and local physicians’ offices and plans to double that growth in the coming years.
Don’t take it out of context – listen to the full interview with Shraddha Agarwal below!