Interested in starting your own entrepreneurial journey in wellness but unsure what to expect? Then read up on our interview with Vikas Patel, Founder of Rugiet Health, located in Austin, TX, USA.
What's your business, and who are your customers?
Rugiet Health is an online marketplace we've created to democratize access to compounded medications to treat underserved disease states that either doesn't have a good commercial solution available today or where a commercial solution is not available.
Our first product is an erectile dysfunction medication called Rugiet Ready. We are available in 42 states (and counting) in the US. Our 50,000+ customer base comes to us with various degrees of E.D. seeking treatment for E.D. and sexual performance anxiety.
Tell us about yourself
We started the business about four years ago with three friends and me. We were at a stage in our life where we wanted to see if we could use our collective expertise. Whether personally or just through our families, we've all had very bad experiences with the US healthcare system. So, we thought, what can we do? One thing was clear –that American physicians in the healthcare system have not embraced compound medicine. We wanted to create a platform and a marketplace where we can make more Americans aware of what those benefits are, what their alternative treatment options are, and that there are better patient outcomes possible. What we do, the hours we put in, and the sacrifices we make are all for the good of the community and the American people.
What's your biggest accomplishment as a business owner?
I think, in some ways, it is pursuing what we considered to be a crazy dream, a whiteboard idea, right? But more so to me is the fact that we did it starting in January 2020. We had the uncertainty of COVID, we were self-funded, and we just had a lot of ups and downs. We had serious conversations about just throwing in the towel and doing something else. By persevering and not allowing one another to say this is just too tough or it's not worth it, I think that is an accomplishment larger than anything related to revenue. Even related to the disruption we're causing in the healthcare industry. Keeping that many people committed to and focused on something seems like such an uphill battle and against all odds mission.
What's one of the hardest things that come with being a business owner?
I get asked this question often. There's no doubt in any business, there are an infinite number of challenges and problems that you face, and they are different every day, right? That's just the nature of a startup. And yet, I'd say the hardest thing is the personal battle. Being able to have the discipline to not let yourself get consumed by the business. I think every executive's biggest challenge is finding that line and knowing when to turn it off. Take care of yourself and, in return, be a role model to the rest of the team to be around for the long haul.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
If you want to grow, run, and succeed at having your own business, here are the three things I would recommend you do.
One, if you have access or if you have the ability, go raise at least a certain amount of funding ahead of time. That way, you can focus on the core business versus always having some portion of your bandwidth allocated to continually going and managing the growth in a much more conservative way.
The second piece of advice would be to make sure you can find a way to build a team that is very local to you. Agility and speed are the two most important things in a startup. There's no excuse for not having the core team be in a position where they can communicate, collaborate, and quickly move the company forward, no matter what adversity comes your way.
Finally, setting the foundation for success includes finding a way to accurately track and measure data. You don't get a second chance at data collection. Looking back, I would much rather have spent the additional time upfront making sure we had the information we needed than trying to catch up after launch. Some of what we've done could have been done much more effectively had we had the correct information.
Where can people find you and your business?
Website: https://www.rugietmen.com/
Instagram: https://www.instagram.com/rugiethealth/
Twitter: https://twitter.com/RugietHealth
LinkedIn: https://www.linkedin.com/company/rugietmen/
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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