SBDC Gives Pharmacologist Prescription for Success
With billions of Americans becoming addicted to prescription drugs each year, Dr. Dennis Mungall wanted help clients avoid the dangerous combinations of pharmaceuticals by starting the Clinical Pharmacology Advice Network, LLC. When Dr. Mungall decided to start his own enterprise he realized that in the business world he needed a specialist to prescribe a plan for success just as he’d prescribe his patients’ a treatment plan. He was referred to David Noel, Certified Business Analyst (CBA) at the SBDC office in Avon Park by referred by the Highlands County EDC and after utilizing the SBDC’s prescription, Dr. Mungall gained a capital infusion of $120,000.
For Dr. Mungall and Noel it was a great combination from the start. Dr. Mungall worked on the basic business start-up concepts that David prescribed him and returned frequently for more information and further steps. After entering the Highlands County Accelerator Program, Dr. Mungall continued to work with Noel on marketing, financials and websites. Noel enhanced those sessions by prescribing a series of specialized sessions with various CBAs from the SBDC’s Tampa office. Dr. Mungall agreed to be a test case for the use of video conferencing, workshops and consulting sessions via the internet— saving multiple hours of travel.
As the business began to take off, Dr. Mungall decided to purchase a building down the street. The building was a historical site and one of the oldest buildings on Avon Park’s main street. Once again he sought the advice of the SBDC. Noel and the SBDC team advised him on tax and liability issues as well as marketing strategy. In November 2012, after much renovation, Dr. Mungall had his grand opening of the new Clinical Pharmacology Advice Network (CPAN) office.
“The SBDC’s assistance at every step has helped me create a new business that helps improve the lives of patients in Highlands County,” Dr. Mungall wrote in a thank you letter to the SBDC. “ Further, this business has now allowed us to develop a new business in the same building, The DaisyGirl Shop, Arts, Antiques, and Uniques.
As Dr. Mungall’s practice continues to grow he gains patients come from local advertising and referrals from area physicians and is also called on as an expert witness in legal hearings.