Muthu Krishnan, Chairman & CEO, Kencor Health
“Life was easy before I became an entrepreneur in terms of money and lifestyle,” Krishnan begins his story. Having a job at a reputed company with steady income helped him and his family to handle all the responsibilities without any hiccup. But the comfort of that job and the lifestyle never satisfied Krishnan. He always had a passion to create something that brings about changes in society. It was this burning passion that finally pushed him to take the decision to get into the business world. “I am a typical Gemini, I am a people person, networking is in me and is a part of me and most importantly I like to take risks,” says Krishnan. And his dream of becoming a business leader became fruitful through Kencor Health – one of the world’s smartest and most engaging health ecosystems.
During his initial years he faced challenges with pitching his idea, cash flow issues, and fundraising for his start-up. But sailing through these difficulties made him the business person he is today. Along the way he learned how to delegate, balance perfection, perform due diligence and efficient time management skills. He never allowed ego to take control of his decisions and made sure to constantly validate the market for his solution. Krishnan’s entrepreneurial journey is a perfect example of determination and hard work. He also reminds to take the first leap to whatever one believes in and to stay motivated until the efforts result in tangible outcomes.
He reflects how entrepreneurship is a risk-taking journey that demands lots of patience. “One should believe in themselves and never give up,” says Krishnan. He also points out that entrepreneurial success has no secret formula but traits like flexibility, exceptional communication skills, eagerness to learn and developing a solid business plan and the ability to sell oneself and their idea/product can help an aspiring business person to reach heights.
Bridging the Gap
Kencor Health is Krishnan’s answer to the lack of communication systems – between the healthcare team (and electronic medical record system) and the patients – in the current healthcare landscape. “The provider space (patients and the hospital systems) has always been close to my heart,” says Krishnan “I wanted to fill the gap between them by creating a platform that will effectively connect the patients and the care team,”. Kencor Health matured to become a revolutionizing establishment in the sector with their state-of-the-art solutions.
Founded in 2017, Kencor Health’s primary objective is to ensure better patient outcomes. According to Krishnan, it is patient engagement that guarantees improved patient outcomes and it is also the very first step to empowerment, collaboration, and self-advocacy. The company’s solutions elevates the experience of care through accessible communication systems that help healthcare providers to build more personal connections with their patients. Here, the patients are able to establish a direct contact with the providers and share their vitals, test results, self-reported symptoms, and personal messages. Now, Krishnan’s the next plan for the company is M&A or an IPO.
An Uplifting Culture
Kencor Health fosters a friendly working environment that follows a ‘flat organizational structure’. An open door policy is practiced in the organization that encourages employees to approach Krishnan at any time. Such a culture has created morale among the team where they support and take care of each other.
The foundation of the company’s success is their team’s enthusiasm. Through Kencor Health, each member of the team is able to make an impact in the healthcare space and it keeps them spirited. Krishnan ties the company’s progress and growth to his team. For this reason, the team is referred to as the ‘Kencor Health family’. The employees have the freedom to work in any role as they prefer. This framework keeps them motivated and aids in building the team strength. They embrace simplicity and keep things straightforward from their product to their sales pitch.
Few Points for Budding Entrepreneurs
Krishnan is an entrepreneur who comes with strong opinions about a leader’s skillsets. He states that an individual who creates and sets up a new business should be able to bear all the risks. “Entrepreneurs are individuals who want to solve the problem of a particular industry. They are the innovators and sources of new ideas, goods, services, and business/or procedures,” reflects Krishnan. In his opinion, an entrepreneur should be able to build a team that believes in their vision. It is the responsibility of the leader to inspire the team to achieve their best. He adds that a leader should be willing to work around the clock and should lead their team day in and day out. Furthermore, an entrepreneur should possess skills that convince the investors about their company.
“Good entrepreneurs should have curious minds and never stop learning or asking questions,” advises Krishnan. In order to find success in the economy, an entrepreneur should be able to identify the pain point in the market, know his target audience, and never underestimate the power of a solid business plan. He also suggests road-testing the idea, building a strong network, and having your finances in good order. “Embrace the feedback and learn from the mistakes,” concludes Krishnan.