Co-Founder of Kilo Health shares 4 lessons that he credits with helping his startup become 2nd Fastest Growing Tech Company in Europe.
(YourDigitalWall Editorial):- New York City, New York Mar 21, 2022 (Issuewire.com) – The CEO and co-founder of Kilo Health, Tadas Burgaila, is opening up on the mistakes and lessons he believes helped his startup become one of the fastest-growing tech companies in Europe.
The Financial Times and Deloitte recently named Kilo Health the second-fastest growing technology company in Europe. Much of its growth came last year when it expanded its digital health and wellness solution portfolio and hired more than 400 employees across the globe.
Burgaila says many entrepreneurs and CEOs have congratulated him for their rapid growth but he admits he made some mistakes along the way. For the first time, he’s opening on these lessons that helped propel his digital health company to such rapid growth.
“This is advice I would tell myself on my first day as an entrepreneur,” said Burgaila. “I hope these stories, lessons, and advice help younger entrepreneurs who are struggling to find their way and identity. Don’t be afraid to be yourself and never limit your mindset. Trust your gut feeling. Don’t overthink, simply do and think simultaneously. Don’t be afraid to take risks. And learn from your mistakes.”
Lesson One: Don’t Tie Up Your Capital
“It’s important to not tie up capital too early in your growth stage. In the early years of Kilo Health, our capital was heavily tied up in advertising our products and solutions. It didn’t allow our research and development teams to explore new areas for growth. Luckily, we had personal capital to invest and spend for other types of growth. It was a valuable lesson that we overcame quickly. Be careful and do not put all of your eggs in one basket.”
Lesson Two: Don’t Lower Hiring Standards as Rapid Growth Excels
“As your company begins to grow quickly, you will need to hire quickly. However, don’t lower your standards at this stage – it’s better to wait for the right talent than hire someone who might not be the best fit for the role. In the case with Kilo Health, we made it a priority to balance out experience and culture fit, since our new hires require a unique set of skills. Our product managers, developers, and engineers are building innovative products that work with huge amounts of data. They’re exploring new areas of technology that haven’t been discovered yet. Hence, we needed to hire people who are both experienced and open to growing together with us. Rapid growth requires a totally different skill set than when our company first launched in 2013. The lesson here: don’t compromise on the hiring process or rush through the hiring process.”
Lesson Three: Don’t Be Afraid of Corporate Suits
“Don’t ever let a suit scare you. Not everyone is as smart as they look, and an expensive suit doesn’t always mean that the person on the other side of the table has more experience or a better product than yours. I’ve found many large corporations are slow, while a startup can be faster and more focused. You can outrun the larger corporations if you focus your energies around that, rather than the appearance an image might project.”
“Many young entrepreneurs are afraid of industry giants, but the global market is huge and agile. There is a place for your startup under the sun, and your space is larger than you think. When you come from a tiny country like Lithuania, you can’t afford to think small. This is why it’s so important to understand that mindset is everything. At Kilo Health, we push all of our employees to embrace the belief that we can do anything. And we can – together as a team. We take risks and experiment. I always say we are ambitious and hungry, without fear of standing out.”
Lesson Four: Don’t Play by the Rules
“The early years of Kilo Health were difficult, especially in the beginning. But we never followed the rules that business textbooks described. As a team of 7, we came out of nowhere and were crazy enough to believe that one day we would lead an international company. And we did that. Being a bootstrapped company allowed us to grow our confidence. It gave fuel to our “we can do anything” attitude. Be bold and stand out. In fact, I encourage people to do exactly that. We believe this is why Kilo Health is already a success story. And it’s only the beginning.”
Kilo Health is hiring and recruiting entrepreneurs and founders to join their company. If you’d like to apply and work with Tadas Burgaila, click here to see their job openings.
ABOUT Kilo Health
Kilo Health is one of the leading digital health and wellness companies globally, attracting talents to join its fast-growing team by co-founding and accelerating startups in a rapidly growing digital health industry.
With 4+ million customers worldwide, the majority of which are in the United States, strong technology, and a digital marketing platform, Kilo Health provides unparalleled opportunities for entrepreneurial talents and visionaries to build digital health products of the future.
Kilo Health was founded to design the most engaging and effective digital lifestyle interventions that lead to a healthier life by preventing, managing, or treating various health conditions. In 2021, Kilo Health was recognized as the second fastest-growing company in Central Europe by the Deloitte Fast 50 and as the #1 Employer on the Meet Frank recruitment platform. As of 2022, Kilo Health is recognized as the second fastest-growing company in Europe on the FT 1000.
Continuously seeking new opportunities, co-founding, and accelerating prospective next-gen products, Kilo Health has grown from 7 to 550+ bright talents in three years with aims to become the global leader of digital health and wellness product suites. As of 2021, Kilo Health is a member of the DTx Alliance, Matter Community, and HealthXL.
This article was originally published by IssueWire. Read the original article here.