I’ve often wondered what makes a successful startup. Based on my own experience, I believe it comes down to three core pillars that must come together for a startup to thrive.
Let’s start with each pillar:

1. The Technical-First Startup:

This is the startup that has a solid idea and the technical ability to create a product. They dive straight into coding and building something, often reaching a stage far beyond what most people with just an idea would achieve. But, despite having a functional product, they often haven’t fully understood the market or the real problem they’re solving. Without a commercial plan or an idea of who would pay for it or how much to charge, the product is likely to stall. It might have been a fun project, but it rarely goes anywhere.

TL;DR  – Commercial || Technical || Domain Expert 🙃

2. The Commercial-Driven Startup:

In this scenario, someone with a strong business sense sees a gap in the market and decides to execute an idea. They find a developer to build the product, knowing precisely who they’re targeting and how much it’s worth. They have a business plan, but often lack expertise in the specific sector they’re entering. The developers do exactly as instructed, but the product might miss the mark because it lacks the insight that only sector experience can bring. As a result, it’s usually expensive and may not fully meet user needs.

3. The Domain Expert Startup:

This is when industry experts – doctors, pharmacists, or other professionals in the field – recognise a problem and have a clear vision of what’s needed to fix it. However, they lack technical and commercial experience. They outsource the development but might not know exactly what to ask for or understand the nuances of product design. Without a strong commercial plan, they may end up with a functional product that doesn’t gain traction beyond a small user base. The product might suffer from issues like security flaws or unnecessary features due to a lack of technical oversight.

Where Success Lies:

Success happens when these three pillars – commercial experience, technical skill, and domain expertise – come together. This balanced approach is what we focus on at Personalised Diagnostics. Whether in our travel health or veterinary business, we bring these pillars together to build products that people want to use and that offer strong commercial value.