Some of the richest people in the world made their fortunes by making products and services cheaper.
Jeff Bezos, Founder of Amazon, is the richest man in American. As you likely know, a lot of products on Amazon cost less than the same or similar products at local retailers. Plus you can acquire everything almost as quickly from the comfort of your home. The Walton family members [Walmart] are also in the top 20 of wealthiest.
Running a profitable business takes a lot of work to refine systems and processes but it is possible to do so and to make money. That’s the lesson that the industry should be taking from Amazon and Walmart.
What I hear from entrepreneurs especially those new to the industry is a passion to take on the cost of healthcare challenge. They are taking their inspiration from Amazon and Walmart and thinking about how they can make things cheaper and better for healthcare consumers.
Healthcare entrepreneurs are thinking about value and leading with purpose.