Mike And Alison After Hours: Richard Palarea — CEO & Co-Founder of Kermit PA
This episode of the Mike And Alison After Hours podcast features Rich Palarea, CEO & Co-Founder of Kermit PA.
This week, Mike and Alison talked to Richard Palarea, CEO & Co-Founder of Kermit PA.
Listeners of the show should now be aware of an upcoming giveaway they can enter for the book, “How To Work With Jerks” written by Eric Williamson. Eric will be a guest on the show in August, at which time we will announce the winner. To enter, make sure to subscribe to Mike And Alison After Hours and drop a comment on our YouTube channel or any audio podcast platform.
With that announcement taken care of, Mike and Alison moved on to talk with Rich about his professional journey as an entrepreneur, and Kermit PA. Check out the full video for the complete discussion:
Get To Know Richard Palarea, CEO & Co-Founder of Kermit PA
“Where there’s a will there’s a way, is kind of the message I want to get across,” says Rich.
Rich’s journey as an entrepreneur began with a key moment when he was sixteen. A local event promoting a historic ranch nearby had resulted in long lines of people waiting for a shuttle. As Rich was driving by and saw the extensive line, he also saw an opportunity.
Rich put a sign in his car window saying “Richard’s Taxi”, and took the initiative to begin shuttling people up the hill himself. He didn’t even ask for money — he simply put a cup on the dashboard, inviting passengers to pay what they would. By the time his father found out about the operation and shut it down, Rich had made nearly a thousand dollars.
“It was the Uber of 1970-whatever,” says Rich. “You think about where there’s a need, and figure out if you have the ingenuity or can do the research to meet that need.”
Eventually, Rich’s entrepreneurial spirit led him to found Kermit PA. Kermit is an analytics platform that delivers insight into the fragmented spend category of physician preference items. Kermit equips supply chain managers, surgeons, and executives with real-time data on implantable medical device transactions, offering unprecedented visibility that’s saving hospitals millions of dollars.
“We got this idea that you can provide consulting services for organizations if you have a cost reduction angle and get paid out of the savings,” says Rich. “It’s a very easy thing to put in front of business-minded people who want to optimize.”
For the complete discussion with Rich, make sure to check out the full episode of the Mike And Alison After Hours podcast.
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