Leonard Lynskey, CEO and co-founder of Complete Pharmacy Care, talks about the need to determine a company's values and why passion is the most important thing when starting a business.
00:07 Leonard Lynskey: My name is Leonard Lynskey. I'm the founder and CEO of Complete Pharmacy Care along with my daughter, Amy Guinan, who is also a founder and CEO, and we're partners. We founded the company in 2001. It actually started out as a small, independent pharmacy. We had a niche pharmacy, which is what we do now, that we sold in 1998 and then I went to work for a division, a company called... Or sold it to a company called Stadtlanders which eventually became a division of CVS.
00:42 Lynskey: There's a couple of things that stand out. There were two things. One, in 2004 we were starting to grow. So our first year we did... In 2001, we did like 900,000 in sales. By 2005, we were up to about five million and we did that for a couple of years. But as we started to grow, starting in about 2006, we did 28 million in sales last year. So, in about 2006, as we started to grow, we really had to just sit down and decide who we were. And that's when we began the process of developing our value... What our company values are, what are mission statement is, what we stand for as an organization and really devoted time and resources and energy to culture. And we made the decision that the most important resource was not our... The most important resource we had were our people, were our employees. And if we could motivate and empower those people, they would do great things for us and for the people that they served.
02:04 Lynskey: Do something you're passionate about, whatever that is. Because if you don't have passion you'll never carry through. I could tell you a thousand... I could sit here and give you a thousand pitfalls. There's gonna land mines you're gonna walk through, everybody's gonna make the same mistakes as they go through this. You have to make those mistakes to learn to be successful even it that results in failure. But I think that the thing that is most critical is that you have to be passionate about whatever it is that you're going to sell, build, design, because without that passion you won't get through the day. I can tell you, 10 years later I still wake up in the morning very, very excited about what we do and the opportunities that are in front of us. And without that passion, you won't have the creativity, the nerve or the courage or the ability to weather the despair and the doubt and the difficulty that's gonna get you through being an entrepreneur.
ANDREW MACLEAN is the video editor at Inc.com. He previously worked at MediaStorm and did his graduate studies in video production at Syracuse University.
He can be contacted via email at: email@example.com.