Eosera is a biotechnology company that develops health care products to improve the lives of both doctors and patients. Its first product line focuses on solving common ear conditions, such as earwax impaction with Earwax MD and Wax Blaster MD, painful ears with Ear Pain MD, and itching ears with Ear Itch MD.
The company was founded in March 2015 by Elyse Dickerson and Joe Griffin in Fort Worth.
Dickerson responded to questions from the Fort Worth Business Press:
What differentiates your company from others in a similar business?
Eosera was founded on the pillars of conscious capitalism, believing that business should be a force for good in the world. We prioritize people over profits, trusting that if all stakeholders are taken care, the profits will follow. We are also a company that values creativity and nimbleness, allowing us to pivot and adapt quickly to the market needs.
All businesses go through some tough times. What was your greatest challenge and how did you respond to it?
Our greatest challenge has been supplying the retailers with increasing levels of product, while enduring payment holds from the retailers because we are a small and new vendor. This creates a major strain on cash flow, which requires very tight controls over cash management. We have been very lucky to have strong support from local financial institutions such as Worthington National Bank and Southwest Bank. They have both been willing to lend us money, while other banks turned us down.
The business climate is changing rapidly. What do you foresee as challenges?
We operate in a federally regulated environment, which is in place to keep consumers safe. We take safety extremely seriously and work with regulatory experts to make sure we are in compliance with the regulations. It does take a lot of our time and attention to make sure we understand and follow the regulations.
Cash is king to a small and growing company. Access to capital is vital to the success of any start-up business. Now that we are three and a half years into our business, I can see why so many businesses fail due to lack of funding.
In general, do you see the present business climate as challenging, uncertain or optimistic and why?
I am very optimistic about the DFW business climate. There is an extremely large network of investors and business leaders who support innovation and entrepreneurship.
If you could make one and only one change in the present business climate, what would it be and why?
A strong organizational culture can clearly differentiate a business from its competitors. According to research from LSA Global, companies that align culture with business have 58 percent more growth and 72 percent more profitability.
Culture and business strategy go hand in hand, and culture is a key enabler for growing the business. In order to stay relevant in an evolving world with countless opportunities, companies must start offering incentives beyond compensation and benefits such as insurance and retirement plans.
These are critical, but lately we are seeing more and more of the workforce placing increased value on the ability to be in control of one’s own life. In addition to great pay and benefits, employees want flexibility in their schedules to take care of personal matters, volunteer in the community, participate in personal and professional growth programs, and spend time with family. That is one thing I believe we do very well here at Eosera.
We empower our employees to be in control of their own lives. This shows that we truly care about our employees, but it also benefits our company because employees tend to be more engaged and committed when other aspects of their lives are also viewed as a priority. It requires a shift in mindset, but research shows it works.
3108 W. Sixth St., Fort Worth
Number of employees: about 15
– Paul K. Harral