3 Lessons for scaling a startup: key insights from Amy Fan's journey
3 Lessons for scaling a startup: key insights from Amy Fan's journey
Amy Fan's transition from Bain & Company to co-founding Twentyeight Health, a digital health platform, offers valuable insights for entrepreneurs looking to scale their startups. Below are three key takeaways from Amy's experience.
1. Embrace uncertainty and leverage industry insights
Amy began her career at Bain as an associate consultant in the Toronto office, where she honed her ability to thrive in uncertain environments. Her time at Bain taught her to make informed decisions even when all variables were not fully known.
"The ability to navigate ambiguity and feel a certain level of comfort even in times of uncertainty is crucial, especially when you're building a startup," Amy reflects.
This mindset has been invaluable throughout her entrepreneurial journey, where unexpected challenges are routine. Drawing from her user-centric approach in a prior skincare venture, Amy applied her skills to the healthcare space. Her startup, Twentyeight Health, delivers telemedicine, medication, and follow-up care, with a focus on underserved communities. As one of the few telehealth platforms that accept Medicaid, Twentyeight Health ensures women’s healthcare is accessible to a broader population, including low-income individuals.
2. Build a strong, aligned support network
At Bain, Amy experienced firsthand the power of a strong support system. "Whether it was my senior associate consultant case team lead (SAC CTL), manager, or partner, everyone would go to bat for me," she recalls.
This sense of support built her confidence as she ventured into the startup world. In her entrepreneurial journey, Amy recognized the importance of creating a similar network to sustain her company’s growth. "I wanted to ensure our mission to increase access and focus on underserved communities would always remain our North Star," she emphasizes.
For Amy, success in scaling Twentyeight Health meant surrounding herself with co-founders, investors, and advisors who shared her vision. Building a network of mentors, advisors, and peers who provide constructive feedback has been pivotal in navigating the complexities of scaling a mission-driven startup.
3. Prioritize personal well-being and mental health
Balancing the demands of a startup with personal well-being is critical. Amy openly discusses the pressures of entrepreneurship and the importance of maintaining mental health. During the pandemic, she sought therapy to manage stress and underscores the importance of sleep and exercise in her routine.
Personal resilience, Amy believes, is essential to professional success. Entrepreneurs must recognize and address their mental health needs, developing strategies to prevent burnout and sustain their energy over the long term.
"It's important to go back to think about your goals and use that as a clear barometer. Identifying what support you need, whether it's therapy or exercise, is crucial to showing up as your best self for your team,” Amy advises.
Amy’s journey highlights the importance of resilience, continuous learning, and the strength of a supportive network. Her experience highlights how skills developed at Bain can translate to scaling a startup and driving meaningful, long-lasting change.
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