Week 4 – 23 Years – Still Inspired But Tired

Hope you all are doing well.  On April 26^th, we celebrated BioSurfaces’ 23^rd year in business.  It is hard to believe that we have been able to stay in business for this long, especially with all the headwinds that all companies face.  Only people who run their own business will really understand the challenges.  Every time Tina and I speak with a small business owner, we can see in their face all the different stresses that they face.  These can be something small or things that can make or break you.  A couple of weeks ago, I was speaking to a colleague that I’ve known for a few years and we were catching up after an extended period.  He said to me that we should be proud of being in business for this long and that he has not really seen many small companies in this field last for even 5 years.  When you are in the grind, which feels endless at times, you lose sight of these accomplishments.  Tina always tells me to stop and really look around the company to appreciate what we’ve built.  As we’ve said, even if the wheels come off (which can easily happen), we have had 23 years of experiences that many people do not get to experience in a lifetime. 

I remember seeing an owner of a long-standing ice cream shop who decided to sell the company and take time to spend with his family.  I cannot describe it, but he just looked so light and care-free.  It was so much so that I asked him how he was doing after selling a successful business he owned for decades.  He said that it was the first time in forever that he didn’t have to worry about making payroll or dealing with the daily stresses.  It was one of the first times in my life that I was actually jealous of someone.  Tina will tell you that I am not into materialistic things (she isn’t either).  We love what we do and the people that make BioSurfaces what it is, but the struggles are real and they can really grate on you.  So many people say to me how great it must be to run your own business.  If people could really see the stresses that Tina and I face on a daily basis, I am not so sure they would be that confident.  They would likely run for the hills.  That being said, everyone has stresses in life and this happens to be ours.

Even with every stress that BioSurfaces brings, Tina and I come to work every day believing in our team, mission and technology.  We are truly inspired by each person and how they bring their passion to execute our plan.  I sit in different meetings at the company and look around the table.  I see how the team is working to solve a problem together, talking about what different tests they may be running, what new orders are coming in, how we are going to make a certain piece of equipment, evaluating different business opportunities, marketing our company or building our quality system from the ground up.  If you had asked me 23 years ago if I would have ever dreamed of any of this, I would have told you that I would have been glad to make it for 1 year.  I just wanted to be a little closer to home and be able to see Tina and the kids a little more. 

The company has changed so much from the early days when it was just me and the lab.  That was it.  When we first started the company, we had a single grant to develop a single medical device – a vascular graft (artificial artery).  I was doing everything, from performing experiments to running the financials.  When I went on vacation (which was infrequent), BioSurfaces closed because there was no one there to do the work.  We started to expand our base technology, going into various areas and I needed some help.  To be honest, I did not know the first thing about running a business and what it took to run and try to grow a business.  Not that I still do today. 

We had to learn about everything on the fly, from setting up the company and onboarding our first team members to trying to raise capital and develop and sell a new product.  We have been truly blessed to have some outstanding mentors along the way that helped us really learn to become business owners.  We are still learning each day and appreciate advice that we are given, most of which we take and use.  Sometimes there are things that we still have a hard time with such as exaggerating the market value of our technology (even though it is significant) or leading too much with our heart.  Those are hard things as it really goes outside our comfort zone. 

Sometimes I think to myself, what did I do in my life to deserve the honor of having a great team that truly believes in our vision?  I do not think of myself that way so it is truly humbling to have our team show up every day with the same passion that we have in order to advance our technology to potentially help people.  Like Tina reminds me, I like to remind our team to stop and look at what they are accomplishing.  This small company in Ashland, MA is beginning to expand sales of our IVRT products around the world.  We have companies interested in exploring our technology for use in various medical devices.  We will find the right partners to bring this forward and see our mission of helping patients someday come to life.

Matt