Founder Spotlight with Dan Andersen from Insightful

Dan is an experienced inventor and entrepreneur, with a track record including three companies, over a dozen products reaching clinic, and more than 250 issued U.S. patents and published applications. Dan’s last company, Optimedica, was acquired for over $400 million by Abbott.

We’re excited to have led the first round of financing of Dan’s new company, Insightful Instruments. We had a short conversation with Dan to discuss his journey and key insights he has learned along the way, excerpts below:

Tell us about your path to today.

I love building communities. Still, I have no interest in crowds or groupthink. I was fortunate to come from entrepreneurial roots where risk-taking was rewarded and later to join innovative companies that allowed me access to and even encouraged my involvement in areas of their business that interested me but were well outside my wheelhouse. I now try to repay that kindness by ensuring there are similar opportunities in the companies I help build.

What has been your biggest challenge so far in building Insightful and how have you overcome it?

Finding the right people is always challenging. Whether it’s a direct employee, outside professional, or an investor, finding the right mix of experiences, core competencies, and shared philosophies takes time and energy. But it’s worth the effort. At Insightful, we abide by Bob Sutton's "no asshole rule." We're taking our time staffing and utilizing contractors from our network while we build our internal team piece by piece.

What’s something recent that you’re really excited about in terms of progress or a win? 

We recently proved our approach works in living tissue after exhaustive ex-vivo testing.  This considerably de-risks our technology and makes our path to the clinic clearer.

If you could go back and give yourself one piece of advice before starting, what would it be? 

Don’t rush to important goals.  Be efficient and diligent, not hasty.

When it comes to making tough decisions as a founder, how do you typically approach it? 

I know that I am not alone and that a company's decisions, especially early ones, always affect others. So, I gather input from trusted advisors to gain a more complete perspective than I would have otherwise once I understand the issue well enough to communicate it clearly. Just ask Neil.

What’s been the most impactful feedback you’ve received? 

Absolutes like that are tricky.  Fairly recently, I was told that while I certainly "walk the walk," I should do more to "talk the talk." That stuck with me because I am very serious about my work but I really don't take myself too seriously. I took that feedback to heart and realized it's necessary for me to advertise my bona fides better to keep Insightful moving steadily forward. Plus, it takes me out of my comfort zone, which is a good thing.

What’s something about your industry that you think more people should understand or be aware of?

My last few companies have been in ophthalmology, a niche space but one we are passionate about because vision impacts so many aspects of a peoples' lives. At Insightful, we're reinventing refractive surgery, the world's most common elective surgical procedure, to improve outcomes, health equity and offer immediate benefits to patients and physicians worldwide. 

If you could make one ask or give one piece of advice to the startup community, whether it's about hiring, making connections, or fundraising, what would it be?

Nah.