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Team is everything, rely most heavily on those you have worked with previously and trust and respect
Today's entrepreneur is Cary Breese, CEO and co-founder of NowRx, a tech-enabled pharmacy providing same-day and same-hour delivery of prescription medications.
The company, which has raised $30 million, is designed around the notion of eliminating walk-in, brick and mortar pharmacies, replacing them with a logistics-driven pharmacy distribution model. NoxRx delivers all prescription medications same-day, often within two or three hours; it also has a one-hour delivery window for urgent medications.
Breese was formerly CEO of database software startup GenieDB, and COO of a technology incubator focused on developing innovative technologies in Healthcare. He was CEO and founder of a bootstrapped financial services startup that was acquired for 18x cash-on-cash. He also led $100M product line as EVP, CIGNA.
He has a B.S. in Electrical Engineering from Drexel University and credentialed Actuary (ACAS).
I am a(n):
Companies I've founded or co-founded:
NowRx, Inc., Trafalgar Insurance
Companies I work or worked for:
Lockheed Martin, NowRx, GenieDB, CIGNA
Company exits (of companies you founded):
If you're an entrepreneur or corporate innovator, why?
I want to change the world.
My favorite startups:
Amazon, AirBnB, DoorDash, Google, Apple
Why did you start your company or why do you want to innovate inside your company?
I saw a situation that was so obviously being done the wrong way, and had been done wrong for decades, that when I was struck by the idea for doing it the correct way I just couldn't get it out of my mind and had to fix it.
What's most frustrating and rewarding about entrepreneurship/innovation?
Challenging the status quo. It can be very tough sledding sometimes, but all the more rewarding when it works the way you had envisioned.
What's the No. 1 mistake entrepreneurs/innovators make?
Thinking that once they come up with an idea the rest is easy or downhill. The harsh reality is that ideas are dime a dozen - it is the execution day-in and day-out that wins in business, and this is even more true in entrepreneurship. Always be validating!
What are the top three lessons you've learned as an entrepreneur?
- Team is everything - rely most heavily on those you have worked with previously and trust and respect.
- Raising money is only easy for the very rare few. Count on a serious slog and plan to do more with less starting day one.
- Don't pay too much attention to competitors, critics, investors, etc. Trust your gut, re-validate when you it makes sense, but ultimately if you had the idea in the first place you probably are right in the end and they are wrong - find a way.
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