financial lessons
The take-home lesson should not be that it’s easy to double or quadruple your money, even if you actually did with this one. Some IPOs do well, and some do not.
There is no free lunch on the web. You get a free basic Doximity account, and Doximity makes money by selling pharma product placements and physician recruiting solutions.
Doximity’s story contains some salient lessons for doctors–whether they’re of the entrepreneurial set, or content to be employed.
In the realm of wealth-building, patience is a virtue–as it is in so many other areas of life.
Doximity took pains to know doctors and their needs. It still does. The company brings together a group of physicians each year. During these retreats, the doctors weigh in on new products, brainstorm, and hear about what’s in the works.
Whether it’s for yourself or for your business, you must have a personal mission. It should be clear and succinct. Doximity’s success appears to be anchored on its guiding principle: “Our mission is to help physicians save time so they can provide better care for patients.”
Doximity could have followed the well-trodden path to rocketship growth in the tech space. What nobody tells you, though, is that the path is littered with the bodies of dead and dying companies. Despite what you may want, customers dictate how quickly a company can grow.