{"id":29877,"date":"2017-11-29T11:41:30","date_gmt":"2017-11-29T16:41:30","guid":{"rendered":"https:\/\/biznews.fiu.edu\/?p=29877"},"modified":"2017-12-12T10:51:31","modified_gmt":"2017-12-12T15:51:31","slug":"medtek-medical-solutions-creates-healthy-growth-strategy-with-help-of-florida-sbdc-at-fiu","status":"publish","type":"post","link":"https:\/\/biznews.fiu.edu\/2017\/11\/medtek-medical-solutions-creates-healthy-growth-strategy-with-help-of-florida-sbdc-at-fiu\/","title":{"rendered":"Medtek Medical Solutions creates healthy growth strategy with help of Florida SBDC at FIU."},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-29881 size-full\" title=\"Medtek Medical Solutions President and CEO Mauricio Zu\u00f1iga\" src=\"https:\/\/biznews.fiu.edu\/wp-content\/uploads\/2017\/11\/Mauricio-Zuniga-compressor.jpg\" alt=\"Medtek Medical Solutions President and CEO Mauricio Zu\u00f1iga\" width=\"1000\" height=\"626\" srcset=\"https:\/\/biznews.fiu.edu\/wp-content\/uploads\/2017\/11\/Mauricio-Zuniga-compressor.jpg 1000w, https:\/\/biznews.fiu.edu\/wp-content\/uploads\/2017\/11\/Mauricio-Zuniga-compressor-300x188.jpg 300w, https:\/\/biznews.fiu.edu\/wp-content\/uploads\/2017\/11\/Mauricio-Zuniga-compressor-230x144.jpg 230w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/p>\n<p>Medtek Medical Solutions recently celebrated its 10-year anniversary, a huge accomplishment in the entrepreneurial world, where more than half of startup businesses fail within the first four years.<\/p>\n<p>The certified Small Business Enterprise company \u2013 which refurbishes hospital beds, stretchers and all the peripherals in patient rooms \u2013 has contracts with three major hospitals. Earlier, however, it had found itself at a crossroads.<\/p>\n<p>\u201cWe encountered some challenges,\u201d said President and CEO Mauricio Zu\u00f1iga, who read an evite from one of the hospitals about a free program at the SBDC at FIU, the small business development center at Florida International University\u2019s College of Business. \u201cWe needed to get more education as to what our plan of action was going to be.\u201d<\/p>\n<p>Zu\u00f1iga said the program made him look at where his company was, where it was going and where it wanted to be: \u201cIt was the perfect situation at a perfect time.\u201d<\/p>\n<p>The center\u2019s experts, he said, opened his eyes and raised his awareness. So much so that he\u2019s been working with the consultants for three years now.<\/p>\n<p>\u201cWhat really struck me the most, of the 20 or 30 presidents and CEOs there, a lot of us were not very attuned with the numbers of our companies,\u201d said the Colombian born and raised Zu\u00f1iga. He holds a bachelor\u2019s degree in international business with a minor in finance from Florida Atlantic University.<\/p>\n<p>\u201cWe as entrepreneurs, presidents and CEOs, we have to look at the numbers and learn how to read the P&amp;L (profit and loss statement),\u201d he said. \u201cIf you don\u2019t do that, you fail to plan for the future. You have to be able to anticipate as you move forward what\u2019s coming down the pike.\u201d<\/p>\n<p>Zu\u00f1iga said he learned to look at his business in a different way and use funding offered to move the business in the right direction.<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/HETTWwSsLUc?rel=0\" width=\"100%\" height=\"360\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>Cash flow, he said, is usually an entrepreneur\u2019s biggest obstacle, and it certainly was for him. He jumped on a pilot program called B.O.S. (Business Outsourcing Services) being offered by Kaufman Rossin, a Miami accounting firm, which began to manage the company\u2019s bills and update statements as part of their outsourcing agreement.<\/p>\n<p>\u201cWe can quantify exactly where we are financially today,\u201d said Zu\u00f1iga, who is updated daily on sales, profits and losses, and balance. \u201cI can tell you to the T.\u201d He especially likes the fact that it gives him more time for customer service. Freedom, he called it.<\/p>\n<p>Small business owners should take advantage of the experienced consultants and network provided by the Florida SBDC at FIU, which connects business owners to mentors, bankers and community, Zu\u00f1iga said.<\/p>\n<p>\u201cIt\u2019s definitely something they should look at if they want to grow their business strategically,\u201d he advised. \u201cThe backbone of structuring the company as they move forward is critical and the SBDC, what they did, was show them that they can do it, they can actually grow and be successful at what they were doing.\u201d<\/p>\n<p>Zu\u00f1iga\u2019s next plan of action, with the guidance of the center\u2019s experts, will be to review the company\u2019s marketing strategy. \u201cWhat is the market providing us that we can take advantage of and become a better company?\u201d he explained.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Medtek Medical Solutions recently celebrated its 10-year anniversary, a huge accomplishment in the entrepreneurial world, where more than half of startup businesses fail within the first four years. The certified Small Business Enterprise company \u2013 which refurbishes hospital beds, stretchers and all the peripherals in patient rooms \u2013 has contracts with three major hospitals. Earlier, [&hellip;]<\/p>\n","protected":false},"author":86,"featured_media":29883,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[10],"tags":[3121,4256,4255],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/posts\/29877"}],"collection":[{"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/users\/86"}],"replies":[{"embeddable":true,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/comments?post=29877"}],"version-history":[{"count":3,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/posts\/29877\/revisions"}],"predecessor-version":[{"id":29882,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/posts\/29877\/revisions\/29882"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/media\/29883"}],"wp:attachment":[{"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/media?parent=29877"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/categories?post=29877"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/tags?post=29877"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}