Reflections from a 27 Year Start-up CEO
The company began in 1997 with an idea for people to be able to work from home with a career and still have a life, quite a radical idea for its time. Edoc Service began with passion for an idea, it was not about getting wealthy or rapid growth, it was just a driving idea!
The early path was flexibility and transition. We began as a small, outsourced administrative service and moved to lead generation after being asked to create mass mailings and other marketing materials we believed were ineffective. That ended in 2009 when the economy crash landed, and our medical transcription service started showing rapid growth. Currently we are transitioning once again to become a total technology company with four divisions and four technical platforms at this present stage.
The company launched in “bootstrapping” mode with no outside investors. This allowed us to grow at our own pace minus outside pressure that comes from ROI focused investors. It took 5 years to begin showing a profit and 10 years moving to positive net worth. Years later we became debt-free and continue to this day. However, we are unopposed to take on financing as needed responsibly for growth.
Our team has grown with a diverse and dedicated group of innovative self-managing professionals. The original staff were all independent contractors until we were on our feet and incorporated. (It is a sad note that our government is currently attempting to close this opportunity for small businesses, thus stifling innovation.) The team along the way also included dedicated suppliers (Attorney, CPA, Tech) keeping their billings in line with our early resources. Over the years, we have fired suppliers who choose to act as vendors taking advantage of us.
Our culture has been vital. The staff team must see and understand the inside operations of the company including a detailed understanding of the finances. We are an “open book” company and will continue to remain so.
It is never too late to start. I began at 50. God has gifted me not only with ideas and foresight, but He has also given me excellent health.
Now is transition time. We have a younger generation of dedicated and motivated young professionals willing and able to take the helm, and I am willing to turn over the keys. Unlike many other business owners looking to cash-in and sell, it is my desire to allow the existing staff to take the reins, continuing to innovate and scale.
This has been a great journey for me and will continue for a few more years. Thank you, God, for this wonderful company You have allowed me to steward.
