Anne Storie is the CEO of Modo Bio, a Healthtech App that connects you, your wearable data, and a dedicated health team–all on one platform. Your doctor, your health, all one click away. The platform enables individuals to take control of their health by uniting and sharing their health data through wearable technologies, such as the Apple Watch, Oura Ring, or Fitbit, with a medical provider. Anne is responsible for building Modo Bio’s corporate structure, operational workflows, and strategic planning. Previously, Anne served as CEO of Waystone, a financial services company providing a comprehensive range of governance, risk, and compliance services to institutional investors, investment funds and asset managers, holding assets under management totalling in excess of $1Trillion.
Where did the idea for Modo Bio come from?
Modo Bio co-founder, Jack Williams, was in Asia looking at technological advances in wearable devices at the root of where they’re being manufactured in China. Wearables are advancing each year; they have so much more capability than they used to. Jack, a self-declared “IT guy” and his roommate, a high-end personal trainer, Parker, started to pose a few questions to themselves about what exactly was being done with the data from wearable devices? Where does it go, and are people genuinely benefiting from knowing all these data points? That’s how Modo Bio was born. They thought, what if we could take the data from our wearable devices, share it with our family, friends, or practitioners, and start thinking about preventing disease instead of just treating disease.
What does your typical day look like and how do you make it productive?
I start my day getting the kids off to school. I am very adamant about getting some exercise in, which is something I can accomplish early in my day. It energizes me and gets my brain activated. As soon as I’m done working out, I am eager to get back to my desk to dig in and start my day. I have a to-do list that I refresh every single day. The list consists of two columns; short-term and long-term projects. I find that physically crossing off a task I’ve completed is truly satisfying! My team works remotely, so I make sure we have virtual check-ins via video. I believe face-to-face contact is critical. Every day I focus on how I can support my team. What’s the biggest challenge we’re working on? What do we need to accomplish? Making sure that we’re all on track for what we’re trying to accomplish. I always make sure to take breaks during my day, which usually consists of going for a walk. It helps me stay focused.
How do you bring ideas to life?
I think about the individual person and who would find the idea useful. What does their typical day look like? How would they interact with the idea or technology? Our team started to craft Modo Bio by thinking about the actual end-user and the end provider. So what are the pain points for individual users? What are the pain points for the provider? Who are they? How can they interact with this technology? What are they actually using their wearable for? What’s their main goal? What’s their purpose? Really taking out the ‘me’ aspect and focusing on the end-user.
What’s one trend that excites you?
I’m incredibly passionate about healthcare technology and where it’s going. With crisis comes great innovation, and the Pandemic was a catalyst for healthcare innovation. Not only will this type of technology bring down healthcare costs, but it’s patient-centric. I’m also excited about the direction of wearable technology. Between the Oura Ring, Apple Watch, and Fitbit, these devices will continue to become more intelligent, and I’m so excited about what that means for Modo Bio.
What is one habit of yours that makes you more productive as an entrepreneur?
I’m okay taking on things that I don’t know exactly how to do. I then research, learn, and push myself to figure out a way to learn more. As an entrepreneur, you’re constantly pushing yourself to adapt and learn in new ways.
What advice would you give your younger self?
I thought I had to be perfectly qualified and check every single box before I even thought about going to the next level or the next job. That’s absolutely not true. I wish I knew earlier in my career that you don’t need to tick every single box for a specific job. You can learn along the way, and you can use your resources.
Tell us something that’s true that almost nobody agrees with you on.
You don’t need advanced degrees. I did not get an MBA, I do not have a graduate degree, and I do not have an accounting designation. I do not have any type of legal degree, which was quite unusual in the industry I came from. Instead of taking a typical path, I learned everything on the job that I needed to.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
I read every single day. For me, it’s integral to read case studies about other companies that have had success and hurdles, so I know what needs to be done for my company. It’s essential to understand where companies went wrong when scaling. I’m constantly reading as much as possible about different trends within my industry.
What is one strategy that has helped you grow your business?
Putting the right people in the right place. I’ve always focused on a person’s strengths, not their weaknesses. If you have a strong team around you, it makes your job so much easier. If you’re constantly having to plug the weaknesses or plug the holes, it just doesn’t work.
What is one failure you had as an entrepreneur, and how did you overcome it?
Early on, I made the mistake of thinking everyone needed to agree with me or be okay with my decisions; I think I was even scared of upsetting people or people “being mad at me.” I realized that as CEO, I would make loads of decisions that people didn’t like, wouldn’t fully comprehend or agree with, etc. I quickly learned that the most important outcome–the only outcome that mattered–was that they respect my decisions. It took me a while to figure out that not everyone would understand my rationale; they just needed to respect me as a leader.
What is one business idea that you’re willing to give away to our readers?
Focusing on everyday technology that will make an average user’s life easier is the golden ticket going forward. That idea doesn’t necessarily need to be healthcare related, but any type of innovative technology that’s going to help a pain point in someone’s everyday life.
What is the best $100 you recently spent? What and why?
I treated myself to a subscription to The New York Times, and I read it every single day. It’s perfect for casual reading, recipes, and staying up to date on technology, healthcare, and funds. It was a treat for me, and I love it!
What is one piece of software or a web service that helps you be productive?
I use an app called Cozi that helps me stay connected with kids, work, and the tasks I need to accomplish. It allows me to stay organized as a working mom, so I make sure everything gets done.
What is the one book that you recommend our community should read and why?
Untamed by Glennon Doyle. It’s applicable in personal life, professional life, family relationships, and everything in between.
What is your favorite quote?
“Do one thing every day that scares you.” – Eleanor Roosevelt. I always try to go out of my comfort zone, and when I nail a task that I was scared to do, it’s extremely rewarding.
- Take on tasks you don’t necessarily know how to do. Research, learn, and push yourself to accomplish it.
- Remember to take breaks during your day to keep your focus strong. Take a walk outside!
- You don’t need to check every box. You can learn and use your resources along the way.
- Focus on a person’s strengths, not their weaknesses.
- Do one thing every day that scares you.
Carlyn runs the day-to-day publishing operation here at ideamensch and interacts with our awesome customers and entrepreneurs. She is likely editing this with a cat on her lap.