Darrell Moon is the founder and Chief Executive Officer of Orriant, a health care company that engages individuals worldwide to manage their own health by offering an incentivized wellness program. In high school, Darrell knew he wanted to go into health care and got some practical experience working in hospitals, and he worked in the health care industry as he earned his Bachelor of Science in Finance and his Master of Healthcare Administration degrees from Brigham Young University. Prior to founding Orriant, Darrell served in several executive positions managing medical and psychiatric hospitals and managing insurance as well. Through his various positions, Darrell saw a need to shift the economic balance of healthcare by putting the management of health care in the hands of individuals, and he founded Orriant in 1996 to serve that end. In addition to his CEO duties, Darrell is a Forbes Leadership Contributor and a Vistage Speaker of the World’s Leading CEO Organization.
For Darrell, being successful in business is about identifying a need and solving a problem. While many entrepreneurs start out with an innovative idea and try to create a demand for it, he recommends a different, three-step approach: 1) identify a need, 2) test the demand for it, and 3) create a product that meets that need. Darrell founded Orriant by identifying a need. He saw that 75% of the money spent in health care is based on poor choices and felt that engaging people in healthy behavior could not only improve health but cut costs. Identifying that need led to business success, and other companies can find success following the same formula.
Balance in Growth
Achieving long-term business success is something that requires steady improvement in Darrell’s experience. Balancing cash and growth benchmarks is the biggest part of that growth. “Cash is king,” Darrell says. “You’ve got to be a good cash manager to run a successful business.” While you don’t need an accounting degree to achieve this balance, you do need a good understanding of the basic inputs and outputs of running a business to continue to grow. Business success also comes from balancing meeting the needs of the customer, the service providers and the referral sources. Putting achievable benchmarks in place so you see continual improvement helps, as growing too quickly can make it difficult to manage and overwhelm you.