By Mitchel Laskey
Thirty years seems like a long time some days. But it’s been a fun and challenging ride, and I’ve had the good fortune of getting it mostly right over the years.
The journey really began when a partner and I set out with a big idea and lots of youthful energy. Like entrepreneurs across the ages, we had a dream of changing an industry. In this case, Healthcare. Seems like there’s been nothing but change in that industry for many decades now!
My partner painted a huge vision – mostly with a roller-brush “dripping everywhere”, while I used skills as a CPA and manager to keep some semblance of control to fill in between the lines as we grew the organization.
The company was Dynamic Control Corporation. We developed, implemented, and supported a hospital information system centered on the patient medical record. Turns out it was a first in the industry and so we did, in fact, change the world. We were the small guys competing against the industry giants. We were “best of breed” functionality, usability, customer satisfaction, and price performance.
We pioneered other things in healthcare. The one that mattered to our little company the most was a first-of-its-kind partnering agreement with IBM for worldwide marketing and distribution of our technology. They put their logo on our software and it instantly became the IBM hospital information system of choice. Even more important to us – we shared in every dollar of revenue sold by IBM’s 2,000 hospital sales reps. That was the kind of performance that made it possible to raise capital to ramp up operations and go do some important acquisitions. By now we had 600+ employees in 9 US and European locations, 350 hospital clients that we supported 24/7, and annual revenues approaching $100 million.
Ultimately we did what all entrepreneurs dream of – the exit. In our case a sale to Baxter International, a fortune 100 company.
That was then and there have been a couple more of those and dozens of companies I’ve co-founded, been on the board of, been advisory counsel to, or simply invested in. What never changes for me is the drive to add value, to contribute in ways that help move the value needle hard and fast. It’s interesting, its’ fun, and it’s who I am.
I’m really excited about GroupLM3. The principles have all done similar things and share the same compelling need to ratchet up the value equation. We bring different strengths and industry expertise, and our extended network is growing to cover just about anything you can imagine.
I think what really is important about the approach we’re taking is the risk-sharing equation. We want to participate and invest in the execution that makes value happen and creates value.
So what’s your story? We’d love to hear from you!