{"id":11916,"date":"2019-03-22T20:09:57","date_gmt":"2019-03-23T01:09:57","guid":{"rendered":"https:\/\/thinkerventures.com\/article\/\/"},"modified":"2019-10-10T14:21:31","modified_gmt":"2019-10-10T19:21:31","slug":"time-is-your-most-valuable-resource","status":"publish","type":"post","link":"https:\/\/thinkerventures.com\/time-is-your-most-valuable-resource\/","title":{"rendered":"Time is your most valuable resource"},"content":{"rendered":"

Trevor Gibbs of Naperville, Illinois, was two years into his anesthesiology practice when the inventing bug bit him.<\/span><\/p>\n

Apparently, the operating room can be a pretty disorganized place.<\/span><\/p>\n

\u201cThe operating table isn\u2019t very large so you\u2019re in a pretty confined space. When putting someone to sleep, most of the time, you put what you need on the patient\u2019s chest,\u201d Gibbs said. \u201cI was having one of those days where things were rolling off the patient\u2019s chest onto the floor right when I needed it.\u201d<\/span><\/p>\n

\u201cI thought to myself, \u2018there has to be a better way.\u2019\u201d<\/span><\/p>\n

Gibbs let the idea germinate for several years as he built his practice and his family. Then, in early 2016, he decided to take a leap.<\/span>
\n<\/span>
\n<\/span>He\u2019d long ago come up with a simple concept, a rolling tray where you could place the instruments and hang the various cords and tubes necessary to administer anesthesia.<\/span><\/p>\n

\u201cI said, \u2018that\u2019s it. I don\u2019t know how to do it, but I\u2019m going to figure out a way to make it.\u201d<\/span><\/p>\n

Getting started<\/strong><\/h3>\n

Like all modern research projects, Gibbs started his quest on the  Internet. There, he found out about SCORE<\/a>, a national nonprofit organization where active and retired business executives offer free mentoring.<\/span>
\n<\/span>
\n<\/span>Gibbs found a mentor with an engineering background who had launched a company and earned and developed several patents. They met and Gibbs was encouraged to pursue the project. He then met with an intellectual property attorney and a manufacturing expert at Northern Illinois University’s EIGERlab in Rockford, Illinois, who could 3D print the prototype and guide him through the process of designing and finding companies who could build his product.<\/span><\/p>\n

By late 2017, he had a prototype to show off potential customers and investors, a company created – even that process was more intricate than he thought it would be – and he was out showing off his idea.<\/span><\/p>\n

We talked to Gibbs for a What Works Podcast<\/a> after he won a pitch competition through Northern Illinois University. The money that he won wasn\u2019t important. By then, he was already $70,000 into the development process. Instead, he was more interested in the validation of his idea.<\/span><\/p>\n

What\u2019s been interesting is how much more it takes, in terms of time, steps and money, to get an idea to market.<\/span><\/p>\n

\u201cI actually thought I could get this design made for $30,000. One of the biggest expenses is injection moulding,\u201d Gibbs said. <\/span>Injection moulding is a process for producing parts by injecting molten material into a mould.  <\/span>\u201c<\/span>Just buying these moulds is six figures even for something that\u2019s not even that complex. On top of that, you have to produce your inventory.\u201d<\/span><\/p>\n

What’s remarkable is that Gibbs developed the product in a rapid time from while continuing to put in 40 to 60 hours a week as an anesthesiologist and pitching in with his three children, which were ages five and younger.<\/span><\/p>\n

\u201cMy daughter is in kindergarten and they always tell her \u2018you have to use your time wisely,\u201d<\/b> Gibbs said. <\/span>\u201cI don\u2019t think that really sticks until you get older and the more layers of responsibility you have.\u201d<\/b><\/p>\n

Managing distractions<\/h3>\n

In the end, in any industry, successful people are the ones who can best manage their time. In today\u2019s business world, time management is easier and more difficult than ever at the same time.<\/span><\/p>\n

There is no shortage of apps or programs available to help you manage your time. At the beginning of February, Lifehack.com published its 18 best time management tools for 2019<\/a>.<\/span><\/p>\n

Among them:<\/span><\/p>\n