#3 - Developer of Intellectual Property
The Company was founded by a plastic surgeon who invented and patented a minimally invasive procedure and surgical kit to perform procedures on the face and neck and a video imaging system.
Issues - During the first year of operation, the Company had leased a secondary office facility located approximately 120 miles from the headquarters and had hired full-time engineering, regulatory oversight and operations employees. When I was engaged by the Company they were incurring excessive fixed costs not warranted by their level of activity.
- The second facility was sub-leased and employee functions were sub-contracted to independent contractors so that services were only used when necessary.
- In addition to handling general business operations, I managed the manufacturing contractor, the exclusive sales distributor and the regulatory consultant.
As a result of these changes, operating expenses were radically reduced without diminishing the effectivemenss of the operation and the plastic surgeon was able to focus his attention to product development.