Ishan Patel is the CEO and Co-Founder of Audien Hearing, a company disrupting the $7.5 billion hearing aid market by offering high-quality hearing aids for as little as $100 retail. Since founding Audien Hearing in October 2019, Ishan has led the company to achieve significant milestones, including becoming the first hearing aid OTC company to launch nationwide in retail. Based in Scottsdale, Arizona, Audien has over 600,000 happy customers, thanks to its scalable digital customer acquisition model and service infrastructure.
What is your typical day, and how do you make it productive?
My typical day starts with an early morning routine that includes exercise and planning. I prioritize my tasks by creating a daily agenda that focuses on the most critical activities first. I make my day productive by minimizing distractions, setting clear goals, and continuously aligning our team’s efforts with Audien’s mission to make hearing aids accessible to everyone.
How do you bring ideas to life?
Bringing ideas to life involves a collaborative approach. I encourage open dialogue within our team to brainstorm and refine ideas. Once we have a solid concept, we develop a plan that includes setting achievable milestones, testing hypotheses, and gathering data to make informed decisions. We focus on execution with a lean mindset, constantly iterating and improving.
What’s one trend that excites you?
The increasing accessibility of health tech solutions excites me. As more people gain access to affordable healthcare technologies, we can positively impact lives on a larger scale. This trend aligns perfectly with our mission at Audien Hearing to democratize hearing aids and make them affordable for everyone.
What is one habit that helps you be productive?
Consistency in routines helps me be productive. By sticking to a structured daily routine, I ensure that I maintain a balance between strategic thinking and day-to-day operations. This habit allows me to focus my energy on high-priority tasks and achieve long-term goals.
What advice would you give your younger self?
I would tell my younger self to embrace failure as a learning opportunity. Every setback is a chance to gain insights and grow. It’s essential to stay resilient, be open to feedback, and continuously adapt.
Tell us something you believe almost nobody agrees with you on?
I believe that affordability should not compromise quality in healthcare products. Many people think that low-cost products inherently lack quality, but at Audien Hearing, we have proven that it’s possible to offer high-quality hearing aids at a fraction of the traditional cost.
What is the one thing you repeatedly do and recommend everyone else do?
Regularly set aside time for reflection and strategic planning. It’s crucial to step back, assess progress, and adjust your course of action. This practice helps ensure that you’re not just busy but truly moving in the right direction.
When you feel overwhelmed or unfocused, what do you do?
When I feel overwhelmed, I take a short break to clear my mind. Whether it’s a quick walk or a few minutes of meditation, stepping away from the task allows me to return with a fresh perspective and renewed focus.
What is one strategy that has helped you grow your business or advance in your career?
Focusing on customer-centric innovation has been key to our growth. By listening to our customers and understanding their needs, we develop products that genuinely solve their problems. This approach builds trust and loyalty, driving long-term success.
What is one failure in your career, how did you overcome it, and what lessons did you take away from it?
Early in my career, I launched a product without fully understanding the market demand. It was a humbling experience, but it taught me the importance of thorough market research and validation before launching. I learned to prioritize data-driven decisions and customer feedback in the product development process.
What is one business idea you’re willing to give away to our readers?
There is an opportunity to develop a subscription-based platform for regular maintenance and updates of assistive devices. Many users struggle with keeping their devices in optimal condition, and a service offering personalized maintenance schedules and updates could fill this gap.
What is one piece of software that helps you be productive? How do you use it?
Trello is a fantastic tool that helps me stay organized and manage projects efficiently. I use it to track tasks, set deadlines, and collaborate with my team. The visual layout makes it easy to see progress and prioritize tasks effectively.
Do you have a favorite book or podcast you’ve gotten a ton of value from and why?
“The Lean Startup” by Eric Ries has been incredibly influential in shaping my approach to business. It emphasizes the importance of creating a minimum viable product and iterating based on customer feedback. This methodology aligns with our ethos at Audien Hearing, where we prioritize innovation and customer satisfaction.
What’s a movie or series you recently enjoyed and why?
I recently enjoyed watching “The Social Dilemma” on Netflix. It offers a thought-provoking perspective on the impact of social media on society. It was a reminder of the importance of ethical considerations in technology and how we must prioritize the well-being of our users in our business practices.
Key learnings
- Customer-Centric Innovation: Ishan Patel emphasizes the importance of listening to customer feedback to drive product development and innovation at Audien Hearing, ensuring that solutions truly meet user needs.
- Affordability Without Compromise: Ishan believes in delivering high-quality healthcare products at affordable prices, challenging the notion that low cost means low quality. Audien Hearing exemplifies this philosophy by offering top-notch hearing aids at a fraction of the traditional cost.
- Embracing Change and Learning from Failures: Ishan advocates for using failures as learning opportunities to improve and adapt. His experiences highlight the importance of resilience, adaptability, and strategic planning in achieving long-term success.