Amazing content. Highly appreciate the effort and that you share it here. I am looking into the market myself. I have some raw thoughts:
1. Customer retention is a big issue imo and short- and long-term operational pain according to my friends in Tijuana. MT agencies are not scalable unless the integrate vertically.
2. My biggest WHY to work in the MT field now: Learning. Honestly, it's not the most attractive market and you summarized the reasons. But personally, I am forced by my intrinsic motivation to work in the longevity / health field and working with clinics and getting to know the customers are skills that will set me up perfectly for the future. Also, I am a passionate traveler (not nomad) and love the Spanish language. I would say I have founder / market fit.
3. Best case scenario: build airbnb for MT and take the data and learnings from it to build your own clinics or be the dealmaker for verticals.
4. my approach to build something would be to focus on one type of treatment (e.g. stem cells) and one country (e.g. Mexico / Colombia) first and champion that niche. Then use the learnings to go to the next field. I have the conviction for this to go for it and try it out.
5. maybe not the space to build a unicorn but bootstrapping is possible. High margins in the MT industry. I think that building a $5 million / year profit business is easier here than other industries, because of low competition.
According to the pain points I can add (from Bookimed experience) low scalability (due to low conversion rate for the leads and low automation level in industry). But on the other hand these are potential growth points.
I love your posts--it's a masterclass in clear thinking for building a startup business.
"Web3: Medical tourism is unfortunately a good use case for crypto (borderless payments) and blockchain (decentralized medical records)."
The "unfortunately" cracked me up 😂
hahaha it’s not a masterclass yet. thank you for the kind words, Christin!
Amazing content. Highly appreciate the effort and that you share it here. I am looking into the market myself. I have some raw thoughts:
1. Customer retention is a big issue imo and short- and long-term operational pain according to my friends in Tijuana. MT agencies are not scalable unless the integrate vertically.
2. My biggest WHY to work in the MT field now: Learning. Honestly, it's not the most attractive market and you summarized the reasons. But personally, I am forced by my intrinsic motivation to work in the longevity / health field and working with clinics and getting to know the customers are skills that will set me up perfectly for the future. Also, I am a passionate traveler (not nomad) and love the Spanish language. I would say I have founder / market fit.
3. Best case scenario: build airbnb for MT and take the data and learnings from it to build your own clinics or be the dealmaker for verticals.
4. my approach to build something would be to focus on one type of treatment (e.g. stem cells) and one country (e.g. Mexico / Colombia) first and champion that niche. Then use the learnings to go to the next field. I have the conviction for this to go for it and try it out.
5. maybe not the space to build a unicorn but bootstrapping is possible. High margins in the MT industry. I think that building a $5 million / year profit business is easier here than other industries, because of low competition.
According to the pain points I can add (from Bookimed experience) low scalability (due to low conversion rate for the leads and low automation level in industry). But on the other hand these are potential growth points.
Love it!! Let's jam 💪
Nice series of posts, Jeff!
Thanks Alex!