Charles Laverty is an intelligent visionary who always sees the big picture. He has the unique ability to see things in an objective manner and is always focused on results. Laverty realizes that people are the most important asset of any company and he is always looking to recruit the most talented people who have overachieved in their education, business activities, sports or other areas.
Charles Laverty is not a micro manager what he does is set strategy and direction in his company. He models the company’s culture, values, and behavior and he has built management teams of leading senior executives. He sets the tone and gives them the reins to execute and achieve the company’s goals. Laverty is excellent at allocating the company capital to the company’s top priorities. Laverty was named Entrepreneur of the Year in 1992 by Ernst & Young, Merrill Lynch and Inc. magazine. He attributes that recognition to meeting the needs of employees, customers, investors, communities, and regulations. He follows those principles in every company that he manages.
Laverty has the energy of an 18-year-old. His work ethic is unequal to anyone, and he easily works 100-hour weeks. He is always learning and has a great quest for knowledge. He always wants to make himself better and strives for excellence. He has been a top performer in every endeavor he has undertaken. For all appearances, his current company, Advanced Bifurcation systems, is on a fast path to success and under his leadership, there is no doubt that ABS will be a real success story.
How did you get started in this business? What inspired you to start this business?
I the early 80’s I got my start with a Medical Device company, CR Bard. Since then I have been recruited to companies, taken them over or started a company. I love business, and nothing makes me more excited than creating value in a company.
How do you make money?
This is a great question. You always make money with results. Money comes after you make something happen. Look at sports figures, every athlete dreams about playing on a pro level, but only a few make it, as in business it is about performance.
Making money comes with a plan, a strategy, dedication, hard work and set goals that are measurable.
Goals should be measured all the time as in some cases you might need to refocus the goals to reach the achievement. In business, financial rewards come with definitive results.
How long did it take for you to become profitable?
That depends on the company and the business sector. In the medical and drug business it can take years because of the regulatory requirements before you have a marketable product or drug. Having said that, every CEO’s number one goal is profitability for their company.
When you were starting out, was there ever a time you doubted it would work? If so, how did you handle that?
I never doubted I would be successful as I always believed “if it is to be it is up to me.” There were always barriers or hurdles, but it is that way in life. If you set goals and they are realistic, you can achieve those goals.
I have confidence in myself, and if I need to work harder or smarter, I will do what is necessary to be successful.
How did you get your first customer?
My first position was with CR Bard, a medical device customer. I remember my first customer was someone I kept calling on Jamaica Hospital in New York. He gave me the order because he said I was the most persistent person he ever met.
What is one marketing strategy (other than referrals) that you’re using that works well to generate new business?
In my business, I speak to known industry leaders and get them on board with our platform and technology, and they then become the best advocates for my company because their peers respect their opinions and they believe in our company.
What is the toughest decision you’ve had to make in the last few months?
The toughest decision is letting an employee go who just can’t cut it. It is hard to do, but you can’t deliberate after you made the decision. It is better for the company and better for the employee. It is like taking a band-aid off, you can do it slowly, and it hurts, or you can just pull it off. The quicker, the better when someone can’t make the cut.
What do you think it is that makes you successful?
Hard work, persistence, and perseverance. No matter how tough the day might be when I awake at 3 am, it is a new day, and I review my goals for that day that tie to my monthly and yearly goals. A new day is a new start, and where there is a will, there is always a way.
What has been your most satisfying moment in business?
My most satisfying moment is seeing the thrill upon an employee’s face when they achieve the goals and hit their plan.
What does the future hold for your business? What are you most excited about?
My company, Advanced Bifurcation Systems, is in the cardiovascular space and has developed something that no competitor has been able to accomplish. The company has a vast patent portfolio and serves an unmet need in left main heart disease.
I am most excited to get our products to the market and be able to have a better outcome for patients with cardiac disease.
What business books have inspired you?
My favorite three books are the following;
“The Pims Principles” The book is linked to performance
“The Quest for Value” Creating value for shareholders, employees and in our case-patients.
“Teaching the Elephant to Dance” Empowering change in the organization.
What is a recent purchase you have made that’s helped with your business?
Specialized equipment for our unique manufacturing business.
What drives me as a person?
I have always believed that doing anything, no matter what it might be, try to be the best. Never give up no matter how many defeats or knockdowns. Keep getting up and figure out what to do next. Never feel sorry for yourself, as no one else will either. I have always believed that “if it’s to be it is up to me.”