Dennis Diaz | Crain's Miami

In this ongoing series, we ask executives, entrepreneurs and business leaders about mistakes that have shaped their business philosophy.

Dennis Diaz

Background:  

Dennis Diaz in 2015 co-founded Ketamine Health Centers, which specializes in the alternative medical practice of ketamine infusion therapy, a medically monitored treatment for patients suffering from mental health and chronic pain conditions.

The Mistake:

I was spreading myself too thin trying to accomplish everything simultaneously. With a new venture, there’s risk. Launching a new business takes a lot of time, more so than I even thought.

I maintained my job at the hospital because it’s a nice safety net and I had a steady income. As an entrepreneur, you don’t have that safety net. I do have two little kids at home, a 3-year-old and a 2-year-old, and my wife stays at home to take care of them. But I was being pulled by too many angles. It wasn’t a healthy, sustainable thing.

The biggest hurdle was leaving my job at the hospital in October. And that was huge. It bettered our business. I was able to trust my teammates and let them work more independently, not micromanaging certain things. And now I’m able to pay more attention to Ketamine. Everything’s worked out beautifully, thank God.

If you’re prepared and you know what it takes, it’s not a risk.​

The Lesson:

As an innovator and as an entrepreneur we dove into this market untapped. Ketamine was something that was very new at the time, and we decided that sometimes you have to take that leap of faith. You have to take a risk. High risk, high reward. You hear about that all the time, but it’s especially true when you’re a pioneer in a market. We were the first to market in Miami, no one was doing this. But we knew that this was the future.

Luckily, we were correct. Now you see a lot more ketamine centers opening up. If you believe in what you’re doing and you take the risk, the rest follows.

The only thing I would do differently is to leave the hospital even sooner. It took me a good 10 months to make that leap. But if I had done it even sooner, it would have saved some time and increased my patients. From a business standpoint, if you’re prepared and you know what it takes, it’s not a risk. You just have to figure out how to get there.

Follow your passion because there’s always a way.

Follow Ketamine Health Centers on Twitter at @ketaminehealth.

Photo courtesy of Dennis Diaz

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