Interested in starting your own entrepreneurial journey but unsure what to expect? Then read up on our interview with Fredric Abramson, Founder of Golden Thread Technology, Inc, located in Gaithersburg, MD, USA.
What's your business, and who are your customers?
We use DNA analysis to identify and reduce injury risks to athletes. Our platform will provide ongoing personalized guidance and information related to each athlete's specific situation. Our target customers are parents of kid athletes and weekend warriors. In America, we do this because one in eight child athletes suffer injuries that require medical attention. An additional 3 million adult athletes have similar outcomes.
Tell us about yourself
My background combines human genetics, public health, AI and big data software development, consumer business, financial management, law, and university teaching. On the education side, I have my undergraduate degree in Mathematical Biology from the University of Pennsylvania, my Master of Science in Biology from the University of Rochester, my Ph.D. in Human Genetics and Population Planning from the University of Michigan, my Masters of Management from the Sloan School at MIT, and my law degree from American University. I'm admitted to Maryland, D.C., and the U.S. Supreme Court as a lawyer. What got me started using genetics to improve everyday life was completing the human genome project. Because this meant we could look at a person's entire DNA blueprint for the first time. And use this to provide new insights to help people improve their everyday life. The specific focus on injury risk management came when my Johns Hopkins graduate students pointed me to articles showing how genetic variation translated into differential risks of injuries, such as concussion and ACL tears. What keeps me going is the incredibly positive feedback and encouragement from ordinary people worldwide. Both parents and adult athletes, present and past, tell me that this is precisely the kind of information that would have made a difference.
What's your biggest accomplishment as a business owner?
My biggest accomplishment is being able to inspire people to go beyond incremental thinking to solve real problems.
What's one of the hardest things that come with being a business owner?
Two come to mind. One is being able to organize, motivate and build the team to carry out an important mission. It is about collaboration and cooperation. The other is the challenge of persuading potential investors of the value and potential of a business that takes things in a new direction.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
First, have clarity about what you want to do and want to accomplish. Second, devote a huge portion of your energies to communicating with and talking to the people who are potential customers and users to understand what they really want. And third, don't fake it till you make it.
Is there anything else you'd like to share?
I think people's support and positive reactions can inspire us. In addition, not everything we think or do is on target, so we have to hear comments and critiques with a reasonably open mind to adjust as we move forward.
Where can people find you and your business?
Website: https://www.goldenthreadtech.com/
Facebook: https://www.facebook.com/fdabramson/
Instagram: https://www.instagram.com/fdabramson/
Twitter: https://twitter.com/fabramsonlaw
LinkedIn: https://www.linkedin.com/in/fredricabramson/
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
Turn your craft into recurring revenue with Subkit. Start your subscription offering in minutes and supercharge it with growth levers. Get early access here.