Thought Leaders in Big Data: Charlie Lougheed, Co-Founder and President of Explorys (Part 4)

Charlie Lougheed: There’s a mix of different vendors in the space. There are those that are pure play technology vendors—the IBMs and the Oracles of the world that often purchase technology and then configure and deploy it to run, oftentimes, behind the firewalls within these organizations. Another component from the competitor standpoint is actually some of the payers

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Thought Leaders in Big Data: Charlie Lougheed, Co-Founder and President of Explorys (Part 3)

Charlie Lougheed: As these healthcare organizations look to those who pay for the care, which are either the private insurers or Medicare, you see a move towards value-based care. Rather than paying for all the associated services with that patient’s admission into the hospital, you instead get a flat rate for that patient to take

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Thought Leaders in Big Data: Charlie Lougheed, Co-Founder and President of Explorys (Part 2)

Charlie Lougheed: We formed Explorys in 2009 when we met Dr. Anil Jain, a physician at the Cleveland clinic. Anil was not just a clinician, but he was also responsible for their e-research initiatives around leveraging electronic data and EMR. Some of the things that he and his team had invented really inspired us to

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Bootstrapping to $20 Million in Charleston, South Carolina: eGroup CEO Mike Carter (Part 6)

Sramana Mitra: You seem to have a regional emphasis. Does that mean that your sales cycle has been an in-person sales cycle? Mike Carter: Yes. Traditionally, our sales process has been person to person. We have invested quite a bit in our digital presence and we are doing things from creating ourselves as an inbound

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Bootstrapping to $20 Million in Charleston, South Carolina: eGroup CEO Mike Carter (Part 5)

Sramana Mitra: How did revenue track in that timeframe? Mike Carter: The first 10 years, we were very immature from a strategy standpoint. It’s only been in the last five years that we evolved in what we’re doing, in terms of investing, and saw a much more strategic approach emerge. Quite honestly, there’s an aspect

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Bootstrapping to $20 Million in Charleston, South Carolina: eGroup CEO Mike Carter (Part 4)

Sramana Mitra: It sounds like what you used in the beginning is a technique that we see repeatedly. I’ve written a book on this particular technique – Bootstrapping Using Services. The advantage of having services in the bootstrapping stage is that cash starts coming in early. You don’t’ have to take a long, red-ink faith

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Bootstrapping to $20 Million in Charleston, South Carolina: eGroup CEO Mike Carter (Part 3)

Sramana Mitra: What is the target customer base? Mike Carter: Our target customer base is what we call the commercial mid-market. That would be organizations between 500 to 5,000 users. They typically fall into regional healthcare providers and financial service organizations – certainly not the large global organizations but regional and national groups.

Bootstrapping to $20 Million in Charleston, South Carolina: eGroup CEO Mike Carter (Part 2)

Sramana Mitra: Let’s anchor this on some dates. What year were you noodling with this idea? Mike Carter: I graduated from college in 1992. I immediately went to work for this tech startup called The Computer Group. That company was acquired in 1996 by IKON Office Solutions. It’s part of the overall document workflow type

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