Marko Höynälä – Trust Is the Backbone of Any Business

<p><strong>BIO:</strong> Marko Höynälä is the Founder and CEO of Kipuwex Ltd and has invented three game-changing IoT products. Kipuwex is a medical device that wirelessly and continuously measures a person’s biomarkers which can then be accessed by health care professionals from anywhere in the world.</p><p><strong>STORY:</strong> Marko jumped blindly into an opportunity to partner with a Pakistani company to distribute his medical device. The company ordered a considerable amount of devices but never paid for them.</p><p><strong>LEARNING:</strong> Do not trust people or businesses blindly. Building trust is an essential part of a business, and when it is broken, the business breaks down too. Be confident to go out of your comfort zone.</p><p>&nbsp;</p><p class="ql-align-center"><strong>“Do your homework on how foreign markets operate. Do not just go there blindly.”</strong></p><p class="ql-align-center">Marko Höynälä</p><p>&nbsp;</p><h2><strong>Worst investment ever</strong></h2><p>Marko had been actively seeking investors and customers of Kipuwex outside of Finland, his home country. Coincidentally, Marko was contacted by a company from Pakistan that was very eager to have this kind of device because it can do more than most of the other devices and is more affordable.</p><p>He decided to go to Pakistan and find out what the market had in store for his company, despite the security risk that the country is. Marko spent some time with a company that wanted to do sales and distribution of Kipuwex.</p><h3><strong>Getting into a foreign partnership</strong></h3><p>Marko spent a week with the Pakistani company. The company introduced Marko to about five hospitals, and he got to demonstrate Kipuwex to them. The hospitals were eager to buy the device.</p><p>Marko and the distribution company got all the agreements and paperwork ready, and they agreed to partner and distribute Kipuwex in Pakistan. The company even ordered some devices. Then Marko returned to Finland and sent the devices to Pakistan.</p><p>The company