"Default value of any deal, whether sales, investment, or hiring, is that there is no deal"
Welcome to ValiantCEO Magazine’s exclusive interview with Thompson Aderinkomi, CEO of Nice Healthcare. In this insightful conversation, Aderinkomi shares his entrepreneurial journey and sheds light on his company’s mission to revolutionize healthcare.
Nice Healthcare is a tech-enabled in-home provider of affordable and accessible everyday care, offering primary care, physical therapy, and mental health services.
The interview also delves into the topic of employee happiness and engagement, particularly in the face of the current trend known as The Great Resignation. Aderinkomi shares valuable insights on what keeps employees happy and how Nice Healthcare adapts to the evolving business landscape.
Join us as we explore Aderinkomi’s entrepreneurial experiences, the impact of Nice Healthcare, and his vision for the future of healthcare.
Check out more interviews with entrepreneurs here.
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Table of Contents
We are thrilled to have you join us today, welcome to ValiantCEO Magazine’s exclusive interview! Let’s start off with a little introduction. Tell our readers a bit about yourself and your company.
Thompson Aderinkomi: I live in Minneapolis MN with my two children and wife of 18 years. My parents are entrepreneurs and my wife is an entrepreneur so my chosen profession of entrepreneurship fits in well with the family.
I enjoy reading, almost exclusively high fantasy, no non-fiction for me if I can help it, and when I am not doing that, spending as much time outside as I can while the weather permits in Minnesota with my family. I am getting into gardening as a new hobby.
My entire career has been in healthcare and is where I acquired the experiences that aided me in starting my own company, Nice Healthcare along with two other co-founders.
Nice Healthcare is a tech enabled in-home provider of everyday care that makes getting access to primary care, physical therapy and mental health services affordable and accessible.
If you were in an elevator with Warren Buffet, how would you describe your company, your services or products? What makes your company different from others? What is your company’s biggest strength?
Thompson Aderinkomi: If specifically, to Warren Buffet I would say the following using his own language:
Nice Healthcare attacks the tapeworm of the American economy by directly and immediately lowering the cost of everyday care that employees and employers pay for.
What makes Nice Healthcare different is that we bring all the care into the homes of patients without a need for physical buildings and we do this outside of health insurance which makes our care simple and affordable.
Our company’s greatest strength is the employees. Nice Healthcare employees are what makes the service resonate with patients and employers.
Without the employees we would not have a perfect 5-star review on Google, a 93 patient net promoter score, and incredibly low turnover rate among our clients. This strength is not easily replicated the way technology can be and has served us well over almost 6 years of operation.
What advice do you wish you had received when you started your business journey and what do you intend on improving in the next quarter?
Thompson Aderinkomi: When I first started my journey, I wish I knew that the default value of any deal, whether sales, investment, or hiring, is that there is no deal. Someone that I ended up not doing a deal with gave me this wisdom.
Deals fall apart or drag on to nowhere more often than they ever produce results in business. If I would have known that earlier, it would have caused me to plan better and allocate energy and resources differently. In the next quarter I am directly applying this learning to sales, hiring, and raising capital from investors.
I am using data more aggressively, setting expectations more clearly, asking better questions, and planning more carefully than I did in the previous quarter to protect myself and the company from the fact that most deals will not produce.
Here is a two-fold question: What is the book that influenced you the most and how? Please share some life lessons you learned. Now what book have you gifted the most and why?
Thompson Aderinkomi: I can’t think of the book that influenced me the most. However, there is a verse in the bible that has impacted me more than any other book.
It comes from Ecclesiastes 7:21-22, the summary of the verse is that we as humans should not complain about what other people do to us because we have ourselves done the same to someone else. I found this verse when I was in college, and it stuck with me.
It makes me reconsider the situation whenever I feel I have been mistreated by someone and instead I reflect on my own actions past, present, and future. I also focus on assuming the best of the other person.
Of all the things I have read, this is the one I have shared the most with others and guides me in my personal and professional life.
Business is all about overcoming obstacles and creating opportunities for growth. What do you see as THE real challenge right now?
Thompson Aderinkomi: The real challenge right now is uncertainty in our personal lives, the economy, society, government, and culture.
Prospective hires, investors, and customers are all dealing with historical amounts of uncertainty which breeds fear, which leads to inertia and irrational behavior. This inertia stands in the way of progress. For me and Nice Healthcare, this is the main challenge right now.
In your experience, what tends to be the most underestimated part of running a company? Can you share an example?
Thompson Aderinkomi: I am not sure what the most underestimated part of running a business is. But my best guess is the people component.
I know for myself and many other entrepreneurs there is always a grand vision for product and market impact, but none of it is possible without people and the opportunities and challenges that the people create can be often underestimated.
This is true for vendors, employees, customers, and investors. They are all people, and each group has an incredible propensity to aid a company or hinder a company in the short or long term.
What does “success” in 2023 mean to you? It could be on a personal or business level, please share your vision.
Thompson Aderinkomi: We have been working on a new distribution channel at Nice Healthcare for quite some time and success in 2023 would be activating our first client from this channel.
Successfully activating this channel is important because it will demonstrate the impact that Nice Healthcare can have on the total cost of healthcare for patients and employers.
Jed Morley, VIP Contributor to ValiantCEO and the host of this interview would like to thank Thompson Aderinkomi for taking the time to do this interview and share his knowledge and experience with our readers.
If you would like to get in touch with Thompson Aderinkomi or his company, you can do it through his – Linkedin Page
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