From a young age, I’ve been interested in growing companies and building a work environment that makes employees feel empowered and excited to go to work every day. I feel fortunate that I’ve been afforded this opportunity through MFI Medical Equipment, Inc., a family business I grew up in.
MFI Medical was founded in 1982 by my father, Arnold Wiesel, and has been well-known as a reputable company within the medical equipment and supplies industry for more than 30 years.
Starting as an intern at the company, I worked my way up for more than nine years at MFI, learning about the industry and best practices for company growth along the way. Building off the previous success of MFI, I led the company’s move to eCommerce and grew website sales substantially, which now account for more than 30 percent of revenue for the company.
In the years to come, I’m looking forward to continuing to lead the growth of MFI and finding new ways to improve the customer experience and positive company culture.
How did the concept for MFI Medical Equipment come about?
MFI Medical was started in the 1980’s by Arnold Wiesel, my father. It was a much smaller business with only a couple of employees. We have grown massively in the past five years.
How was the first year in business?
The company was started by refurbishing bank-owned equipment for sale. We quickly learned refurbishing and certifying used equipment could be a successful and lasting business.
What was your marketing strategy?
We have a marketing team that helps get our message out there. We pride ourselves on being a one-stop shop for all your medical equipment and supply needs, while offering the lowest prices, inclusive shipping and warranty on many products, and offering online chat and accessible customer service and tech teams to assist customers at any time.
How fast did the company grow during the first few years?
Once I (Augie) became CEO, the company grew very quickly, so quickly that we were featured on the Inc. 5000 for 2018.
How do you define success?
We define success through hard work and excellent office culture, and think that translates to repeat customers who are thankful to have found a source like MFI Medical.
What is the key to success?
The key to success, in my opinion, is not giving up. There are many times things will not go as planned or as imagined and the key is to get back on your feet and try a different way.
What is the greatest lesson you’ve ever learned?
The greatest lesson I have learned at MFI is to listen. The board and employees have brilliant and necessary ideas for our growth and success. Listening and formulating these ideas into a business plan has proven to be very valuable.
What are some quotes that you live by?
“No one ever succeeds by giving up.”
What are some of your favorite books?
I enjoy reading autobiographical books written by other large scale company CEO’s. I’ve learned so much and am so thankful they openly shared their experience.
Tell me about one of the toughest days you’ve had as an entrepreneur.
We had difficulties in the beginning transitioning MFI to an online business. For a company founded in the ‘80’s before the online market really existed, this is a huge key to our current success.
When faced with adversity, what pushes you to keep moving forward?
I have always had a deep love for business and sales. When you work a job where you are inspired to work after hours and on weekends, you know you are doing something you are passionate about. That passion constantly helps me to continue moving forward personally, and with MFI.
What advice would you give to young entrepreneurs?
I would suggest young entrepreneurs read all the stories and experiences they can get their hands on. I learned so much this way before I stepped into the CEO position at MFI Medical. Those stories also will help young entrepreneurs in the start of their career to find the passions they wish to follow.
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This interview was conducted for research purposes by author Jason Navallo for his upcoming book, Underdog.
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