071 Richard Palarea - Building Teams, Transforming Industries

In our SaaS Fuel™ Founder Episode this week, Jeff sits down with Richard Palarea. Richard co-founded Kermit after nearly 30 years at the helm of PA & Associates, a national leader in transportation spend management. His experience in negotiation, bidder relations, application design and development, marketing, and all aspects of business management prepared him well for his current role. His passion for the transformative power of collaborative, cloud-based, and mobile technologies in business makes him particularly well-suited to lead the Kermit team.

Richard emphasizes the importance of back-end services to keep the software sticky and build reliance upon it. Jeff and Richard explore a variety of topics, including being resourceful and innovative in turbulent markets, controlling one's own destiny as a solo entrepreneur, negotiating contracts for large partial shippers, and the vital role of mentors in achieving success. Whether you're an entrepreneur, healthcare professional, or simply interested in the latest developments in mobile technology, you won't want to miss this episode of SaaS Fuel!

Key Takeaways

00:00:00 Healthcare System Struggles With Staffing And Budget Issues

00:01:34 The Significance Of Toothpicks In Symbolizing Resourcefulness And Innovation

00:06:18 Introducing Kermit: Using Automation To Reduce Healthcare Costs

00:08:04 Entrepreneur Uses Technology To Calculate Savings For Customers While Attorney Brings In New Opportunity For Medical Device Repair

00:14:41 Creating Loyalty Through Software And A Diverse Skillset

00:16:45 Business Sale And Technological Background

00:19:59 Revolutionary Invoice Automation App

00:23:53 The Competence Of Surgeons In The United States In Specific Categories.

00:25:01 Kermit Enables Real-time Supply Chain Visibility In Healthcare Operations.

00:29:54 Adapting To Pandemic Challenges In The Medical Industry00:32:50 The Power Of Networking For Leaders In Similar Industries

00:36:12 The Importance Of Sharing Experiences And Knowledge Beyond Just Revenue.

00:39:30 The Importance Of Collaboration In Enterprise Level

00:41:22 Using The Culture Index Tool For Recruitment Planning

00:45:08 HR Complexities And Benefits Of Working In A Flexible Business

00:46:18 Healing The Hospital Podcast Features Thought Leaders And Change Agents

Tweetable Quotes

"If you could spare just two minutes of your time, the accuracy of the information presented could be a game-changer." - 00:43:30 Richard Palarea

"Facilitating their success by removing barriers and fostering a productive environment fueled by their passion for the work, rather than a mere dependency on a paycheck.” - 00:29:34 Richard Palarea

“I know there's an old proverb or adage that says if you wanna go fast go alone if you wanna go further go with others and I had to really kind of stop and embrace that and it was very meaningful you know for me and where I am today." - 00:39:45 Richard Palarea

“It's sharing the experience, not providing the advice. People receive advice differently.” - 00:33:45 Richard Palarea

SaaS Leadership Lessons

Be Resourceful and Innovative: The importance of being creative and finding unique solutions to problems. SaaS founders should look for ways to streamline processes and cut costs while still delivering value to customers.
Focus on Culture and Team Building: The significance of having a team that is both talented and committed, in particular when working in a remote situation.
Value Experience Sharing: Building a network of people who understand how to pay it forward and help each other, regardless of industry or revenue.
Balance Profit and Purpose: As SaaS founders, it's important to remember that revenue is not the only measure of success.
Embrace Collaboration: The importance of collaboration, both within your own team and with other companies in your market. By working together, you can achieve more than you could alone and create better outcomes for everyone involved.

Guest Resources

Richard Palarea (Linkedin): https://www.linkedin.com/in/rpalarea

Richard Palarea (Twitter): https://twitter.com/rpalarea

Kermit (Website): https://www.kermitppi.com/

Kermit (Twitter): https://twitter.com/KermitPPI

Resources Mentioned

Kermit (Website): https://www.kermitppi.com/

Kermit (Twitter): https://twitter.com/KermitPPI

Q-Tips: https://www.qtips.com/

UPS: https://www.ups.com/us/en/Home.page?

DHL: https://www.dhl.com/ph-en/home.html

FedEx: https://www.fedex.com/en-ph/home.html

Stryker: https://www.stryker.com/us/en/index.html

Smith & Nephew: https://www.smith-nephew.com/

Zimmer Biomet: https://www.zimmerbiomet.com/en

Episode Sponsor

This week’s episode is sponsored by Founderpath. If you want to scale up, you need capital to do it! You could raise and give up big chunks of equity for a few bucks OR you could do what the smartest founders do and that begins with Founderpath. Get non-dilutive capital in 24 hours with no personal guarantee, no crazy fees, and super generous payback times. It is a game-changer! It is exactly what SaaS founders need and the process is super easy. We’ve negotiated some special perks as a SaaS Fuel listener. Visit our site at saasfuel.com - a special link is on the page or in the main menu up top under Resources that says “Get SaaS Funding”. Get the funding you need, and keep your equity with Founderpath.

Small Fish, Big Pond – https://smallfishbigpond.com/ Use the promo code ‘SaaSFuel’

Champion Leadership Group – https://championleadership.com/