Several decades ago, I went through school to be a dermatologist. I expected that my practice would be my career and my family's livelihood. I knew in the sixth grade I wanted to be a physician, but it was during in medical school that I felt called to a rural practice. I have had my practice in Ontario, Ore., for 24 years.
I didn't expect that this career would lead to my starting other businesses, but that evolved during my pursuit of improving patient care. I have founded three separate companies throughout the years, with the most recent being a skin-care company headquartered here in Boise since 2002 that assembles and distributes Epionce. I am also the CEO and chief scientific officer of Episciences Inc., which resulted from research I conducted to produce better skin-care products. The company has grown well and now sells its products globally.
Balancing the needs of two very different businesses has and continues to be a challenge. I have been very blessed with an incredibly supportive family and have assembled great teams at both businesses that have assisted me in the process.
There are four sound business principles I have discovered: passion, teamwork, time management and pursuit of wisdom.
A successful business needs to be driven by the passion to solve a problem in a way that others are willing to pay for. That passion will result in the necessary perseverance and willingness to sacrifice for the good of the company. When questioned by other doctors and business people, I tell them that Episciences actually helps me to be a better doctor. In turn, interacting with patients helps me do better at Episciences and be more focused on producing products that patients can really see results from.
The second crucial element has been hiring a staff of excellent individuals to work in both businesses, then empowering and challenging them to perform with excellence. My greatest lesson learned as the key to success is creating a good team. It is impossible for one person to do it all alone. Splitting my time between the two means that I must trust the decisions and judgment of the key individuals who are at each business day to day.
As I have learned the hard way: Hire slowly and fire quickly. Individuals who are not willing to embrace or participate in the team act as bad apples that can quickly ruin team unity and morale. Often the other team members will not have confidence in that person to do their job well, which leads to friction and frustration on the part of the individuals working hard to do their jobs well. It is a difficult necessity to have a staff that can function well without daily oversight from me.
Third, time management requires daily thought. I find that early morning exercise provides me the opportunity to prioritize my day and ponder solutions to issues before me. More than once I have had scientific epiphanies during this time. Allowing the time to mentally organize my thoughts is an extremely valuable form of preparation.
Finally, the pursuit of wisdom refers to the desire of continually improving my knowledge within my medical field, the cosmeceutical industry, and management skills all while striving to attain personal goals. Then the wisdom is an application in one's daily life of the knowledge learned.
Operating one business while starting another is not a task suited for every person. It takes a lot of time, energy and sacrifice for this continual balancing act. The growth I have gained from each experience from each company has helped me grow as a person, as a doctor and as a businessman.
Dr. Carl Thornfeldt started Episciences in 2002.
Starting Up is a series published on Fridays. The columns grew from discussions between the Statesman and local tech and entrepreneurial leaders and are coordinated by Julie Howard, a specialist for the Idaho Office of Science and Technology. Reach her at julie.howard@commerce.idaho.gov.
