In the latest episode of Alto’s Zebra 3, 2, 1 podcast, we spoke with Ezequiel Escobar, CEO and co-founder of Usound, a medical technology solutions company that focuses on providing solutions to people with hearing loss and healthcare professionals.
Ezequiel is an entrepreneur and holds a degree in Computer Engineering. Both he and Usound have been awarded for their contributions to healthcare systems around the world and their ability to improve people's lives with their products.
In this episode, Pablo Baldomá Jones, Co-founder of Alto, talked to Ezequiel about the potential of using social impact as a tool to scale startups. It is worth noting that, according to recent data from the World Health Organization (WHO), more than 640 million people worldwide suffer from hearing loss. According to the same organization, only 1 out of 40 people can access a hearing aid for hearing loss due to the high costs of these devices.
Before starting the interview, Ezequiel told us that he and his computer science classmates decided to "start a business without even knowing they were starting a business" because their motivation at the time was to help one of their friends who, due to hearing loss and not having the financial resources to buy a special hearing aid, couldn't attend classes with them in college. Thus, "through the use of technology" and their knowledge of computer science, he and four of his friends developed Usound, a technological solution that helps thousands of people across Latin America today.
As a summary, we present the three (3) best strategies implemented by Usound to increase the impact on social and organizational well-being, helping them scale as a company:
- Think and work on a solution that allows you to solve a real problem: For Ezequiel, this is a key aspect for all those who want to undertake in the technology sector. In this sense, he recognized that "making products that people don't know they need, but that they need" is fundamental to the success of any project. "There are many social problems that, through technology, we can help solve; that includes improving the quality of life of many people," he added.
- Do not wait for it to be perfect to launch your product: As a second point, Ezequiel considered it vital to launch products (or solutions) at an appropriate time, understanding that "perfection" is a process that arises from interaction with users and feedback. In this sense, he recommended taking products out of the "lab" and testing them with Minimum Viable Products (MVPs) to, instead of just thinking about the problem to be solved, better understand what people's real needs and possible interaction and usability problems with the product are.
"It is the user who will best convey to you the need that he/she has and how your product could solve it."
- Think of a profitable and self-sustainable company: As the last recommended strategy, Ezequiel highlighted the importance of profitability and self-sustainability. Being part of a social impact organization such as Usound requires resources to be able to have an experienced team and continue generating benefits in society. In this sense, he indicated that, for a social service company to grow and generate real impact in the community, the idea that their products must be "free" must be demystified.
Among the two (2) negative strategies or experiences, which were translated as a learning experience to generate impact and scale a company:
- Skipping key stakeholders: In the case of Usound, Ezequiel pointed out that one of their main sources of information was people with hearing loss. However, by focusing on this person (who is the one who benefits), they left out the ecosystem of hearing health professionals (doctors and organizations) who regulate and analyze medical products. That is, they left out the entire regulatory process; so, after having created the product, they had to review it based on the health processes of Argentina and 10 other Latin American countries. This relationship with hearing health professionals allowed Usound to create a mobile diagnostic software specially designed for speech therapists, otolaryngologists and medical technologists.
- Hiring Spartans: By "Spartans," Ezequiel refers to highly experienced professional talents with "heavy" resumes. In this sense, he noted that while some of these professional profiles are quite useful and necessary to scale a startup or scale-up, one must be very careful in choosing them, as they must share the company's "vision" and the product being marketed. This is fundamental in the impact that the company or product generates both in the market and in the organization itself.
Finally, as a (1) strategy or pending project to develop, Ezequiel highlighted that Usound is looking to:
- Scale to new markets: "Both on other continents and in more countries in the Americas." To do so, he considered it essential to project a strategy that allows them to understand how those markets work and the requirements of each country's health entities, as well as the particular needs of their product users. All this is in order to expand the range of people who can take advantage of Usound's products to improve their listening quality and life.
Alto’s Zebra 3, 2, 1 podcast offers the opportunity to learn from experienced business leaders such as Sebastian Ross and obtain valuable information about creating business value. Listeners will receive practical advice and effective strategies to foster a strong corporate culture and a unified vision.
At Alto, we are passionate about helping companies scale with technology and analyzing how other factors can help them achieve their operational objectives. Stay tuned for upcoming episodes.
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