When being laid off can spark your entrepreneurial spirit
Posted on August 6, 2008
Most of the people have negative thoughts about being laid off - understandable - it’s never easy to lose your income. I do however know at least a couple of happy cases when being laid off sparked the entrepreneurial spirit and people became successful entrepreneurs. I could say that in these cases, being employed actually imposed some limitations that only become obvious after being able to do things at your best as an entrepreneur.
Scott Law started Zotec Solutions in 1998 after losing his job at Anthem Inc.’s medical billing subsidiary, Allmed Financial. Anthem pulled the plug on that division, leaving many employees like Law out of work. But this was only a temporary setback. He recognized an unlikely opportunity, and decided to take this chance to start his own company.
Ten years later, Law has navigated Zotec from a small one-person shop to the largest privately held medical billing company in the country. In 2007 alone, Zotec added nearly 500 employees and had a revenue growth rate more than 221%.
Here is the interview with Scott.
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» Filed Under Interviews Tags: Tags:Scott Law, Zotec Solutions
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