Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy Podcast returns to the mic after Francis guest-hosted last week during Jason's deployment. In this episode, Jason talks about why it's vital to be able to step away from your company and still have it run successfully and generate revenue. In addition, Jason shares his frontline experience during the COVID-19 pandemic as a member of the Navy support team in a Bronx hospital.
Episode Highlights:
- Being a military reservist puts you on-demand 365 days a year.
- As a business owner, you should have a business back-up plan, whether you're military or not, for your company to run without you.
- Put aside a business operations reserve fund, which should be the equivalent of 3-6 months of revenue.
- Many businesses will fall apart because they weren't financially prepared for COVID-19.
- On April 7th, Jason was notified about deploying to NYC. He shipped out on April 8th and arrived on April 9th. He is part of the Navy Community Response team.
- There are stages with the coronavirus, starting with lung inflammation. Then you start to see acute kidney injury, which often progresses to acute kidney failure and the need for dialysis.
- Follow kidney failure, liver failure, and cardiac issues are common.
- Coronavirus is affecting people of all ages and in the Bronx, it seems to affect more men than women, as well as people of color.
- FEMA is present 24-hours around the clock to increase the number of available beds for patients.
3 Key Points:
- If you have a business model like a surgeon that would falter without you around, consider additional revenue streams, and bringing in other employees or contractors to fill your role.
- We are in unprecedented times and they demand unprecedented action.
- Jason is in the North Central Bronx in the ICU area. Some hospitals in NYC have 10-30 times as many ventilators as they normally do.
Tweetable Quotes:
- "Remove yourself from your business as much as possible. Structure your business in a way in which your day-to-day duties are not vital to the success and the ongoing functionality of your business." – Jason A. Duprat
- "You are on-demand, on-call 365 days a year to be sent anywhere at any time in the world for any reason, and if you're in the military or considering joining the military, that's super important to keep in the back of your mind." – Jason A. Duprat
- "You want to have many months, most experts recommend 3-6 months of emergency funds. You should be able to cover all of your employees' salaries and all of your business expenses." – Jason A. Duprat
Resources Mentioned:
#HealthcareEntrepreneurAcademy #HealthcareBoss #healthcare #entrepreneur #entrepreneurship #bizstrategy #coronavirus #COVID-19 #covidnyc #nyccorona #military
