As part of our ongoing quest to get you meaningful and powerful stories from India and around the world, we invited yet another passionate entrepreneur – Kim Shah for an exclusive interview with BrilliantRead Media. Kim is a business leader, mentor, advisor, speaker, consultant and a seasoned entrepreneur. He is the Founder and CEO at KnowYourMeds Inc.
KnowYourMeds is a health information app that uses the worlds largest side/adverse effects database and AI driven insights to inform patients and improve health outcomes through better adherence, early identification of drug interactions and early detection of potential medication errors.
Let’s read more about his inspiring journey and his advice for our growing communit!
Excerpts from our exclusive interview with Kim Shah:
Talk us through your background and your journey as an entrepreneur, please;
I was born in India, spent my early years in Zambia and then went to England for my first degree at Imperial College in London. In the late ’70s, my wife and I moved to the US and settled in Boston, a haven of colleges and universities. I got my MBA from the MIT Sloan School of Management which also started my long journey in business.
Over a long career working with a combination of small and large companies, I have had the pleasure of launching multiple software solutions. I was also an early member of TiE Boston (a global network for entrepreneurs) and had the pleasure of mentoring a number of young entrepreneurs.”
At the end of 2016, I had decided to retire with the goal of travelling as well as mentoring in different parts of the world. A good friend of mine convinced me to start a new for-profit business with a social mission instead, and that’s how we started KnowYourMeds.
Why did you choose entrepreneurship over a corporate career?
In my life, I have had the pleasure of doing both – senior management in Corporate America as well as starting companies of my own. Each had its share of challenges and rewards, both personally and professionally. My corporate career gave me the opportunity to travel all over the world and meet lots of interesting people in many different industries.
At this point of my life, we wanted to do something that could positively impact millions of people worldwide – that is why we started KnowYourMeds, an intelligent digital health app that helps improve health outcomes for chronic condition patients. The app is free and available for both iOS as well as Android devices.”
What is your Business Mantra: Money or Emotions?
I am in a different situation than most entrepreneurs, in that I started KnowYourMeds after retirement. At this point, my satisfaction is going to come from doing something that will positively impact the health of millions of people everywhere.
As a result, our business model is not a profit-maximizing one – our goal is to have a sustainable business instead.
How do you handle the pressure and manage stress?
A long time ago, I learned to compartmentalize issues that could cause me pressure and stress into two boxes. One box was for issues that I could do something about and the other was for issues that were out of my control.
From there, I always opted for taking action with the issues that I could handle. The issues that were out of my control, I left alone – sometimes they went away, and sometimes things changed so that I could do something! This way, I have managed to go through life on a fairly even keel.
Please share with us some of the challenges you faced in your journey.
This year, the biggest challenge has come from the pandemic. I have been unable to travel to India as often as I need to build relationships with our partners as well as our customers.
This is a real problem in India where people traditionally like to do business with people they know. My other challenge is that I am used to business practices in the US and Europe, and I am having to learn that the pace of doing things in India is different – more patience is required!”
Given the rapid pace at which the world is changing, what are the leadership traits that are necessary for success?
I believe in leading from the front but always have my teams back. I make sure that my team is not scared of failing, because that will stifle innovation.
I value integrity and transparency in everything we do. Most important, we should never stop learning, especially because of the rapid pace of change in the world.
What has worked well for you so far?
I have been lucky and very happy to have had a consistent team for over 3 years, both in India and in the US.
I feel that the reason for this is that the whole team agrees with my social goals and each member has become part of the whole solution.
In your opinion what are the keys to success?
First of all, it is your team. If you have a good team that is all pulling in the same direction, you will be able to navigate through whatever conditions arise. Second, you should have a clear vision of what you are trying to achieve and for whom.
Third, you need to set clear and measurable goals for your team and hold yourself and your team accountable for these goals. Fourth, never take anyone or anything for granted. Make sure to recognize, acknowledge and reward success wherever and whenever it happens.
We would love to know your advice for all those starting out as an aspiring entrepreneur
Remember the keys to success above and practice them at all times. Also, make sure you have a few mentors who you can reach out to for advice and feedback.
Listen to your mentors, your customers, and your team members. Encourage open and honest ideas and feedback and be flexible. Sometimes events happen that are completely unforeseen and seemingly out of your control (Covid for example).
In that case, be ready to adapt and move quickly to adjust to the new situation. Be positive, persistent and above all enjoy your journey.
BrilliantRead is committed to bringing stories from the startup ecosystem, stories that reshape our perspective, add value to our community and be a constant source of motivation not just for our community but also for the whole ecosystem of entrepreneurs and aspiring individuals.
Note: If you have a similar story to share with our audience and would like to be featured on our online magazine, then please write to us at [email protected], we will review your story and extend an invitation to feature if it is worth publishing.
