In Conversation With… Ranjeet Mishra, Founder & Managing Director, GoodHums
Can you please help us know your professional background?
I have a total 20 years of experience in pharmaceutical industry in domestic market of India in large Pharma MNCs. I started my career as medical representative and rose the level of Business Unit Head handling some of the strategic new product launches now features amongst few top brands in chronic care segments and are benchmarked as best launches in Indian pharma industry.
After a successful employee role for 20 years, in 2018 I ventured into my entrepreneurial role to launch GoodHums.
Can you please tell us about your venture ‘ GoodHums’?
GoodHums is a life sciences company focused on bringing some meaningful changes in patient journey by impacting both diagnostic and treatment paradigm. As an organization we are also deeply focused in building a organizational structure which is non-hierarchical and brings out the entrepreneurial capability of the people.
What is your business model/ revenue model?
Our business mode is same as that of any pharma or medical device company where in we promote our products to health care practitioner and serve the demand through supply chain of retailer and whole seller.
Our revenue streams are pharmaceutical finished products and point of care rapid diagnostic kits.
How do you view the competition in the industry/niche that you operate in?
We operate in a fragmented market with no entry barrier; hence, it is one of the toughest market to operate in with very little point of differentiation. We do bring the unique distinction as an enterprise in Indian healthcare industry by being the only company, which is focused on partnering with healthcare professionals to improve treatment outcome through timely and efficient diagnosis followed by right treatment intervention.
What is the problem you are trying to solve with your venture?
We are trying to bring the behavioral change in health care practitioner to intervene timely and effectively during the patient journey. We are trying to reach lower end of the demographical pyramid to train and educate physicians about the low cost and efficient diagnostic tool which can enable them for better treatment outcome and in reducing the disease burden.
We are also trying to address the conventional manpower cost structure of the organization by building a lean and agile structure and cutting down the hierarchical structures and removing bureaucracy.
What impact did covid-19 pandemic have on your business? How do you plan to overcome it?
Covid-19 did challenge the very basic of our business model by removing the conventional HCP-Pharma interaction platform which was never envisaged. Frankly speaking a small startup like us were never ready for a challenge like this and it did put us in a existential crisis situation however we could navigate through this by diversification of portfolio and embracing the digital platform of promotion. Also this was the time where we stood as one unit in the organization and all of us responded to the situation by showing greater resilience, more commitment and better understanding.
What is your vision for your venture ‘ GoodHums ’ in the long run?
We would like to see GoodHums being recognized as the company which made a meaningful impact in improving the treatment outcome of the patient by bringing the desirable change in behavior of the health care practitioner.
We also want that our innovative org structure design becomes a unique model for many other companies to follow.
As a business leader, how important is it to accept criticism and feedback gracefully?
This is core to personal developmental journey of any professional and more so for a leader. Leaders who are open to learn and develop are the ones who are more ready to face unique and diverse challenges. Seeking feedback is an art and not all leaders excel in this and as a result neither they get one and if at all they get they tend to reject or respond to same and thereby hindering their evolution as leader.
*All views are that of the interviewee. UdyamGyan does not promote or endorse any claims.