I believe in the observation that the head has two ears and one only mouth.”
Charles Laverty is CEO of Advanced Bifurcation Systems which produces the ABS coronary stenting system for coronary bifurcation lesions. Laverty is an award-winning healthcare and technology executive with 25 years’ experience. Laverty previously served as President and CEO of Imagyn Medical Technologies and the former CEO of Infusion Care and COO of Foster Medical Corporation. He is a former Inc Magazine, turnaround executive of the year and is also a blogger and commentator on US healthcare policy. Based in California, Laverty’s company, Advanced Bifurcation Systems has amassed 35 product patents around the world and has ten more pending. This is considered a major feat for a startup that has not yet completed a US FDA application.
Where did the idea for Advanced Bifurcation Systems come from?
ABS is a product and innovation driven company. “Advanced” was the key word because our system is an all new approach that goes in a very different direction than anything in the market today and we wanted it to be clear we differentiate ourselves through product.
What does your typical day look like and how do you make it productive?
I start every day at 3 am. I always work off a priority list that I created the night before. This way I stay focused on those things that I need to get done.
How do you bring ideas to life?
Ask everyone for ideas from factory workers to the most senior leaders then pursue the best ideas without regard for whose idea it was.
What’s one trend that excites you?
Positive attitude of people.
What is one habit of yours that makes you more productive as an entrepreneur?
Active listening and reacting positively. I believe in the observation that the head has ears and one only mouth.
What advice would you give your younger self?
Always hire people better than yourself.
Tell us something that’s true that almost nobody agrees with you on?
Never ever give up no matter the circumstances.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
I treat every morning as the start of a positive, new day. I do this no matter how the day starts or how the previous day went. Part of persevering at all costs in being able to wake up fresh and without the baggage from setbacks.
What is one strategy that has helped you grow your business? Please explain how.
Peel the onion at every opportunity. I also focus on fostering interest and enthusiasm among everyone around me.
What is one failure you had as an entrepreneur, and how did you overcome it?
I was not repaid from an investment that I backed. It was a major setback and disappointment but that didn’t let that stop me. I charged forward to the next thing.
What is one business idea that you’re willing to give away to our readers?
Someone needs to offer a complete security solution for online purchases to avoid online fraud. This would be a totally different approach than every company building its own security and valuable data spread across so many organizations. We need a single, integrated, solution.
What is the best $100 you recently spent? What and why?
Buying golf clubs and shoes for my grandson. So I could unwind and watch his eyes light up as he pursues the game and enjoy valuable, reenergizing time with him.
What is one piece of software or a web service that helps you be productive? How do you use it?
QuickBooks. I fill out every receipt every day. It is not just about accounting, I use that to track spending habits as part of my cash management habits.
What is the one book that you recommend our community should read and why?
Everyone needs a foundation in how to create wealth. So I think everyone should read “Wealth of Nations” by Adam Smith. It is still the foundation for all economic education. It is filled with critical advice for us on the microeconomic level like the division of labor.
What is your favorite quote?
“You miss 100% of the shots you don’t take.” -Wayne Gretsky