I’d like to share a story about a product development service provider in the heart of Indiana’s automotive community.
Their business had grown and prospered servicing automotive companies. In recent times, though, business was not as kind. The company suffered through differences of opinions of the founders coupled with the sharp decline in the automotive industry but continued to survive.
Several months ago, Scott and I met with this company. We believed their services and approach could be marketable in the life science industry. We shared Creo Quality’s strategic approach and presented them with a proposal to help. The remaining founder was grateful for the vision and clarity offered. However, there were no funds available at that time and the company was in a dire situation and needed project work to come their way fast.
Time went on, but the company didn’t land the projects necessary to keep the doors open. I learned this morning that they are closing their doors. It was a tough discussion. The CEO and founder poured a great deal of his life into this business. But he remains positive. I know his background, experience, and skill set will serve him well with his next step.
As the founder and I chatted over coffee, thoughts entered my head about the previous meetings we had. Could Creo Quality have helped sooner? Maybe. But we were too late.
Sadly, this story is true.
Leading up to this morning’s meeting, Scott and I have discussed how Creo Quality can help companies sooner. After today’s meeting, I know we have to help companies sooner.
Even further, there are many other businesses faced with these decisions on a daily basis. The strategy and tactics that once served them well is now abandoning them. Is life sciences the answer? Maybe. Regardless, companies that think life sciences can solve their woes should be smart and strategic about determining what if before jumping in head first. I just wish we could have helped my friend and his business.