Finding Health and Purpose in Retirement
The Transformative Journey of Michelle Fritsch from Clinical Pharmacist to Entrepreneur
In this episode of the Gaining Momentum Video Series, we feature Michelle Fritsch, a board-certified clinical pharmacist in geriatrics and pioneering entrepreneur. After a distinguished career in academia and healthcare, Michelle founded Propel Comprehensive Wellness to help individuals plan for a healthy and purposeful retirement. Having joined Advisory5 to refine her business strategies, she shares her inspiring journey, the essence of her startup, and her experience leveraging Advisory5’s collective wisdom over the past three months. Watch the video below to learn more about Michelle’s path and impactful work.
Essential Points from the Discussion
In 2015, Michelle Fritsch made a bold transition from academia and traditional healthcare to entrepreneurship, driven by a passion for addressing the often-overlooked aspects of retirement. As a board-certified clinical pharmacist in geriatrics and a founding department chair at a new school, Michelle had a distinguished career in academia and primary care. However, she noticed a troubling pattern: leaders in various fields would retire and soon face preventable health and relevance issues. This observation sparked her entrepreneurial journey.
The Birth of Propel Comprehensive Wellness
Michelle’s journey led to the creation of Propel Comprehensive Wellness, a monthly subscription program designed to help individuals plan for a healthy and purposeful retirement. The service goes beyond traditional financial planning, focusing on health and personal relevance in the next phase of life. With her business partner, Ellen Platt, Michelle developed a program that fits into anyone’s schedule, offering tools and insights accumulated over 30 years in healthcare.
Propel Comprehensive Wellness emphasizes co-creating a personalized wellness plan with its clients rather than prescribing a one-size-fits-all solution. The program includes a combination of video content, interactive workbooks, and live sessions to ensure comprehensive and tailored guidance. Clients can engage with the material at their own pace and schedule one-on-one consultations as needed.
Leveraging Experience and Data
Michelle utilized the National Science Foundation process to develop Propel Comprehensive Wellness. She interviewed nearly 100 individuals approaching retirement to understand their needs and preferences. This data-driven approach allowed her to design tools that help people navigate critical aspects of retirement planning, such as health advocacy, personal risk factor management, and social network maintenance.
During the COVID-19 pandemic, Michelle and Ellen pivoted their business model to make their services more accessible. They deconstructed the comprehensive program into bite-sized pieces of important information, ensuring it could fit into anyone’s schedule. This transition allowed them to reach a broader audience and provide valuable support during a challenging time.
The Unique Value Proposition
One of the key differentiators of Propel Comprehensive Wellness is its focus on individualized care and the deep expertise of its founders. Unlike generic advice from AI or online articles, Michelle and Ellen offer insights based on their extensive experience in healthcare. They provide a variety of options, allowing clients to practice and choose what works best for them, thus co-creating their wellness journey.
Challenges and Growth
Transitioning from healthcare to entrepreneurship posed significant challenges for Michelle, particularly in the realm of business management and sales. She candidly shares her struggles with asking for money and navigating the financial aspects of running a business. Despite these hurdles, she has learned valuable lessons, such as the importance of understanding and articulating the value of her services.
Michelle’s experience with ill-fated marketing programs taught her that authentic engagement and clear communication of value are crucial. She emphasizes the need for entrepreneurs to sell their services themselves before delegating this task to others. This hands-on approach ensures a deep understanding of the customer’s needs and the value proposition of the service.
Advisory5 and the Power of Collective Wisdom
Joining Advisory5 has been a transformative experience for Michelle. Unlike one-on-one advisory services, Advisory5 provides a group of experts who collaboratively offer solutions and insights. This collective wisdom has been instrumental in refining Michelle’s business strategies and overcoming challenges. She highlights the importance of clear communication and focused questions to make the most of advisory sessions.
Looking Ahead
Michelle envisions a future where planning for health and purpose becomes as integral to retirement planning as financial preparation. She hopes Propel Comprehensive Wellness will inspire individuals to approach retirement with confidence and clarity, ensuring a fulfilling and impactful next phase of life.
Advice for Aspiring Healthcare Entrepreneurs
Michelle advises healthcare professionals considering entrepreneurship to seek collective wisdom and guidance from experienced entrepreneurs. She co-founded Medipreneurs to support health professional entrepreneurs with business development resources and networking opportunities. Michelle emphasizes the importance of recognizing one’s limitations and seeking expert advice to navigate the complexities of running a business.
Conclusion
Michelle Fritsch’s journey from clinical pharmacist to entrepreneur is a testament to the power of passion and the importance of addressing holistic retirement planning. Propel Comprehensive Wellness stands out as a unique and valuable service, helping individuals navigate the critical aspects of health and purpose as they transition into retirement. Michelle’s story is an inspiring example of how expertise and empathy can drive meaningful innovation in the healthcare space.
To connect with Michelle, please visit her Linkedin Page.