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Becoming an Industry Leader in Scientific Wellness with Scott McLaughlin of YGEIA3

  • Healthcare, Leadership, Podcast, Scientific Wellness

Episode Overview

About the Guest

Scott McLaughlin is the CEO of YGEIA3, a scientific wellness company that gives individuals a convenient way to diagnose where stress, metabolic function, and food sensitivities are preventing them from functioning at their best. If you’re an employer looking for a high-value wellness benefit that is covered by insurers and reduces healthcare premiums by up to 10%, learn more about YGEIA3 at https://ygeia3.com/
Find Scott McLaughlin on Linkedin

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In this episode, Scott gives us a glimpse of what it was like for an innovative wellness company to gain traction, pivot from serving athletes to employers, and the management challenges he faced on the path to becoming a global company with over 100 people. 

Topics by Timestamp

Time

Topic
0:43 Scientific Wellness Explained
5:24 Evolution of the company from 2 to 100+ people
12:08 YGEIA3’s pandemic pivot
13:26 Probing the value prop – why scientific wellness? Why YGEIA3?
17:33 Scott goes open-book with personal leadership and company growth challenges
  1. Defying the status-quo in athletics
  2. Hiring the right people by stepping aside
  3. Learning to delegate
  4. Using funding to overcome a surprise cost increase
34:18 Hidden value of continuing education
37:33 Leading a distributed workforce of 100+
40:26 Building relationships through once-in-a-lifetime experiences

Hindsight

Strategic management lessons within Scott’s hindsight:

1. Discounting Policy – Acquiring celebrity (or noteworthy) customers who were compelled by your value proposition to pay a non-discounted price may not significantly contribute to a startups short-term financial performance, but can have a profound effect upon a company’s ability to gain investor interest and the resulting valuation.
2. Unprofitable Activity (aka Fake Hustle) – Activity which appears productive, but ultimately doesn’t contribute to success (Scott calls this “fake hustle”) can have a discernable effect an organization’s performance.
3. Learning Orientation – Leaders who continuously learn and emphasize its importance, realize significant indirect benefits:
  1. Learning shows you do not think you know everything and are willing to make time to listen and grow
  2. Showing openness to outside ideas signals it’s not “my way or the highway”
  3. Acknowledging shortcomings and finding solutions shows how setting aside hubris is the path to success
  4. Avoids a “command and control” management style which is both a frustrating workplace culture and caps your people’s ability to grow their contribution to the company.
4. Leader Development / Fit – The speed at which a leader comes to terms with their abilities and leverages others to overcome their weaknesses, corresponds to the speed at which the business grows.
5. Wellness Industry Strategy and Sales Channel – Insurance coverage, and the corresponding scientific underpinnings, is a significant tailwind for scaling a wellness business.

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