One day, I'll travel the world. I'll go from country to country, city to city, town to town. In each place, I'll drink coffee until I find the best cafe, eat food until I find the best restaurant, and exercise until I find the best gym (and to burn off all that coffee and food). I'll find the owners of the best independent business in each category and say to them: "You've got the best [cafe] in New York. Let me package and licence your systems. You're probably never going to open a cafe in Florida. So I'll never compete with you. But let's team up and you can share in the profit of every new cafe without any extra work, investment, or risk on your part." Then I'll keep moving, and in each place I'll find people who want to open their own cafe, their own restaurant, their own gym, or whatever... and I'll say to them: "Rather than spending $200,000 on a Starbucks franchise, spend $20,000 to get set up, and I'll give you the system behind the most successful cafe in New York. It's never been done here before. It's far more likely to succeed – and it'll be much quicker and easier – than building from scratch." The owner of the existing cafe, restaurant, gym, etc., will get to multiply the yield of the asset they've invested so much in building. The owner of the new business will minimise their downside and maximise their upside potential. I'll be like a kid in a candy shop travelling the world, finding opportunities, and putting deals together. Pipedream? Maybe. But I'm not sharing this weird ambition with you to announce that I'm leaving my job to travel the world. I'm sharing the idea because you can apply a similar approach in healthcare (and any other industry) to improve quality, increase income, and reduce costs. Here's what I mean. In the example above, there's an underutilised asset: a successful business that's only serving a fraction of the market that it could. An underutilised asset could also be space, equipment, a skill, a poor process, a good process, etc. A simple healthcare example: a room in the medical imaging department full of old equipment. The room can't be used. The equipment isn't producing any income. There's also a host: the owner of the underutilised asset. The owner of the cafe. Or in the imaging example, the host/owner is the department and organisation. There's a beneficiary. Whoever replicates the successful cafe. Or whoever gets the equipment or the room in medical imaging. And finally, there's someone to put the jigsaw together. In the cafe example, it's the wandering deal-maker. In healthcare, it could be anyone who finds a way to utilise the room and equipment. I'm convinced that there's an endless number of underutilised assets in the NHS. Anyone can find them, increase their yield, and improve services for patients and staff - for very little investment of time, energy, or capital. It may not be as glam' as sipping coffee in Rio... ... but it's pretty damn exciting if you ask me.
Callum Birch’s Post
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