Francie Jain discusses her entrepreneurial journey and insights from founding Terawatt, a B2B marketplace for professional coaching.

Key Takeaways

- Terawatt connects organizations with coaches, focusing on healthcare to reduce employee turnover and improve workplace dynamics

- Building a value-based business requires persistence and adaptability; it took Francie ~9 years to find the right business model

- Understanding personal strengths/weaknesses and leveraging relationships are key to entrepreneurial success

- Professional development and coaching can significantly reduce employee turnover, potentially saving millions for organizations

Topics

Terawatt's Evolution

- Started in 2016 addressing job losses in manufacturing (5-15M from 2000-2016)

- Pivoted to a B2B marketplace model connecting coaches with organizations

- Now focuses on healthcare vertical to address high turnover rates (industry avg ~20%)

- Uses group coaching to improve workplace dynamics and reduce turnover

Business Model Insights

- B2B focus allows leveraging existing professional development budgets (~$1,200/employee avg)

- 15% commission model aligns incentives with coaches

- No upfront costs for coaches, reducing barriers to platform adoption

- Case study: Reduced hospital turnover from 24% to 4%, saving $33M over 8-9 years

Entrepreneurial Lessons

- Value-based businesses may take longer to find the right business model

- Focus on personal strengths (e.g. Francie's relationship-building skills)

- Outsource or table tasks you're not good at, especially with limited budget

- Constantly seek and listen to feedback to outperform your talent

Professional Development Impact

- Correlation between nurse burnout and negative patient experiences

- Investing in employee development increases loyalty and retention

- Healthcare professionals often lack management training despite technical expertise

Leadership Insights

- Leverage various mentorship sources: books, networking groups, coaches

- Recommended book: "Turn the Ship Around" by L. David Marquet

- Set clear success metrics with new hires/bosses to align expectations

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