Career Center Resources

Editor’s Note: After working as a licensed securities and investment planner, Sue Finney went back to school in 1988 to train for a new career in biomedical technology. Now a CBET, Finney is a past president of the North Central Biomedical Association. She writes here about setting up her own company—Advanced Clinical Technology Services, or ACT Services.

That entrepreneur inside many of us wants to leave the confines of the safe and secure trunk of the tree, and go out on the proverbial limb to get that shiny red apple. For me, the chance came three years ago in 2001.

After working as a biomedical technician for 15 years, I decided that there was demand in the health care field for a team of biomedical technicians who would be dedicated to delivering excellence to clients—be they small hospitals outsourcing their biomedical services or large facilities looking to “lease-a-tech.”

I had many questions to answer, however, before I could start my own business. My husband Paul and two daughters have always been supportive of my career moves, but this “family business” meant requesting concessions on everyone’s part. In Minnesota, where does one park cars in the winter when the garage is needed for office and shop space? Where would the money come from? Who would I call first? What about employees? Was I “nuts” to want to go out on my own?

My family encouraged me, and Paul was willing to give up our garage—but only for a while, he warned. This decision meant giving up some privacy as we began to add employees. I also wanted to be fair to our neighbors, so I clued them in on our plans and they were supportive. These issues of space and privacy are big ones, I found out, and they can’t be taken lightly.

My background in finance and insurance enabled me to put the accountant and insurance relationships in place quickly. So, my next step was to find an attorney and banker and hire a small-business consulting firm familiar with startups and Small Business Administration (SBA) lending practices.

My first move in the planning process was to do a self-assessment in order to set attainable goals for myself and my organization. I hoped that my fledgling company would offer flexibility that large impersonal firms can’t supply, or choose not to; we would “turn on a dime,” molding and flexing our service to meet clients’ needs.

My advisors and I jumped over many hurdles along the way—improvements for our home office garage space; funding for our start-up capital equipment, inventory, and supplies; contracting with vendors; hiring employees; and setting up credit. The resulting business plan was my flight plan.

This planning and execution took about three months. Eighteen-hour work days were commonplace, but there are no shortcuts. One of the challenges for every business is to find experienced talent, and then match that talent to specific responsibilities within a cohesive, functioning team. All new hires were carefully screened in multiple interviews, some with my business consultants present.

All the hard work paid off. ACT Services has committed employees working as a team on behalf of the company and our clients. We have a company-paid tuition policy—so knowledge gained can be applied at work. That way, we all prosper and grow.

Speaking of growth, in March of this year, we moved into an upscale business park in Oakdale, where we have room for ACT’s six employees and for all current and projected operations.

With winter coming, my husband Paul is happy to have his garage back — and I am happy to report that after three years, that company I dreamed of continues to thrive.

Source: AAMI News : Volume 39/Number 10, November 2004