The field of medical science is a new and exciting place to be in the 21st century. With medical advances, once deadly diseases such as Breast Cancer and late-stage Coronary Artery Diseases can be managed and even fully treated. One person that has been at the forefront of this advancement is Mark Beer. Currently, Mark Beer is the CEO and Co-Founder of Renovia, a new startup company aimed at helping women with pelvic floor health issues.
Before starting Renovia, Beer was already in the medical science industry in the pharmaceutical and biotechnology branches. He recently did an interview with inspirery.com to talk about some of his experiences in the medical science field. Learn more: https://www.prnewswire.com/news-releases/lumenxt-names-marc-beer-chairman-of-the-board-300822547.html
The interviewer first asks Mark Beer is what inspired him to start in the medical science field and his new company Renovia. He answers by telling the interviewer that he was always fascinated by the fact that medicine could heal a person growing up, and wanted to be apart of something so life-changing for everyone involved. When it comes to Renovia, he says that a doctor named Dr. Sam Pulliam approached him about the idea and how it could be life-changing for over 13 million women. Beer, Dr. Pulliam, and another, Dr. Jose Bohorquez worked on research and securing funding for this new project once they realized the potential that Renovia could have not only for the business market but for women’s health.
While owning a business can be rewarding, the interviewer asks Beer a very important question about how he makes money and when was Renovia profitable. The first part of the question is answered by Beer saying that Renovia is not profitable at the moment so he and his Co-Founders do not make money off of the company at this point. It is in the early startup phase and gets most of its money from venture funding. While this may seem discouraging, Beer states that it takes time for a medical science company to make money because they can not cut corners like other businesses. Even though Renovia is not profitable, Beer says that it may take up to 10 years for a company to see a profit.
Running a business can be rewarding. However, there are some things that Mark Beer does not enjoy about the business sector. He says that the hardest thing he had to do when asked by the interviewer is firing people. While he understands that this is necessary for a company to run functionally, it is heartbreaking because people depend on their jobs.
The last question that the interviewer asks Beer is about what inspires him. He answers the question by telling the interviewer that books written by or about Warren Buffet really help him to keep going with his business.