Jan 21, 2019
Roberta Goode started Goode Compliance International to assist companies in the industry of biomedical engineering facing the scrutiny of regulations instilled by organizations like the Food and Drug Administration. Goode explains the purpose of her company and the path she took to ensure its success through years of experience and learning. She later began Altrec LLC as a second career to assist clients to break down the complexities associated with starting a company and promoting a service or product.
Top Three Take Aways:
1. Goode Compliance International moves in and works with companies needing assistance for their products passing regulation by taking a personal approach of collaboration.
2. Goode ensures that innovational products often need to be created regardless of experience; service based ventures often require much more experience.
3. Ensure a valid and strong plan is present when starting a company with the necessary investors, patents, and team; do not confuse action with traction.
Show Notes:
[0:00] Ladan introduces Roberta Goode as the founder of Goode Compliance International which serves as a consulting firm that assists medical devices pass regulation.
[2:00] Goode explains how innovation and ideas must be born immediately concerning products.
[3:00] Consulting businesses and providing services requires experience.
[4:10] Goode explains how Goode Compliance International helps medical devices receive the approval of the Food and Drug Administration.
[7:00] Goode's organization sends consultants to help companies to alter and improve their products.
[8:30] Goode shares how her business model received success because her team would move in and create a plan of collaboration.
[11:00] Goode's team would be deployed for months for 9-18 months.
[12:00] Many underlying issues often become revealed when assisting a company.
[15:00] When hiring her employees, Goode would hire the top three or four performers in her classes through interviews spanning weeks.
[16:00] Goode mentions how important it is for her employees to pay attention to detail.
[18:00] Experts in the field of consulting with Goode Compliance International would be assigned as mentors to the graduates.
[20:00] Goode really enjoyed the field of biomedical engineering but found no life/work balance.
[22:30] Goode decided to start her own organization and enjoyed having a connection helping others.
[25:00] Goode began her venture by attaining several important jobs to gain experience before starting her own company.
[27:30] She ensured she returned something to the companies she learned from.
[29:30] Altrec LLC was started to assist clients to break down the complexities associated with starting a company and promoting a service or product.
[32:30] Goode ensured she had time for her own life through the flexibility of her second endeavor.
[34:00] Goode Compliance International fulfilled every contract and ensured the future for its employees in order to wind down the company by December 2017.
[36:30] Goode did not sell her company because she did not want to sell her reputation or name.
[39:00] Goode did not have the time to trust the investors to use her name.
[41:30] Investors, patents, and a strong team provide the route necessary in starting a company and making a product available.
[44:00] It is important to have a five year plan and an exit plan when starting a company.
[45:30] Just because one is doing many actions does not ensure they are making progress in their company.