#17 - Starting an IV Infusion Clinic, a COVID-19 Invention, and Investing in People with Dr. Jes Smith

Editor’s Note: After the episode was recorded, the IV infusion company was rebranded from Revived Hydration to Biofuse.

Today’s guest is Dr. Jes Smith, an emergency medicine physician from Grand Rapids, Michigan. After starting his life as an attending, a good friend and colleague presented him with an opportunity to start his entrepreneurial journey by starting their own company. Dr. Smith took the bait and now helps run Biofuse, an IV infusion and therapy clinic. But his talents don’t stop there. One year ago, in response to the pandemic, he also discovered the inventor within. He had the inspiration to design and build a negative pressure intubation box, which his hospital was able to use to make their COVID intubations safer. We had a lot of fun discussing how his business and invention came to fruition as well as a variety of other topics. So, ladies and gentleman, please enjoy a fun and wide-ranging conversation with Dr. Jes Smith.

Show Notes

(00:02:28): How do you think moving around so much shaped who you today?
(00:04:30): Do you think the constant moving made you more adaptive, which has helped in starting a business?
(00:08:11): Once you established a great career for yourself as an emergency medicine physician, at what point did you say, “this is not enough”?
(00:11:10): What do you think it was that made your partner approach you twice to start this business?
(00:13:24): How did you bring up the idea that you wanted to start a business to your spouse and family?
(00:14:46): When you started putting together the research for the business, how did you know where to look?
(00:15:53): Did you look at other IV infusion companies to know what to do?
(00:17:39): What was it that made you think that the IV infusion business was the way to go?
(00:19:01): What are people getting out of it when they get an IV infusion?
(00:20:30): Did you have any challenges in implementing the business?
(00:21:05): What do you have to say about administering ketamine at your infusion clinic?
(00:21:46): What is your criteria for determining if someone can get ketamine or not?
(00:22:31): What dose of ketamine do you start it at?
(00:22:56): Have you ever had any adverse effects like the emergence reaction?
(00:23:36): What advice do you have for people who are starting a business?
(00:24:59): From inception of idea to having a brick and mortar store, what was the time length?
(00:25:53): Do you have any plans on expanding your business?
(00:27:02): Beyond just starting business, you also have an invention. Can you tell us about it?
(00:32:13): How did you find the engineers to help build a prototype?
(00:35:46): Are you a creative person?
(00:37:58): Let’s describe what the intubation box looks like.
(00:39:06): What are some challenges with the box design?
(00:39:44): Was it difficult getting the hospital to adopt this device if it wasn’t regulated?
(00:41:09): What kind of lessons or advice can you give doctors who might be risk averse when thinking about starting a business?
(00:45:10): Where did you hear about the idea of “making money while you sleep?”
(00:46:23): Have there been any books, media, people that you have found inspiring?
(00:48:43): Was risk-taking part of your personality before Biofuse (formally Revived) or was there a fundamental change?
(00:50:05): What other businesses have you invested in?
(00:56:20): Where can people find you?