Been turned down? You can still come to a profitable arrangement with your prospects.
Opinions expressed by Entrepreneur contributors are their own.
Olivia Cheng, CEO of Aurora Imaging Technologies, is passionateabout fighting breast cancer. But she can't help save lives ifnobody buys her product, a breast-specific MRI machine. So when ahospital or clinic says "no, thank you" to the $1.5million price tag, Cheng, 50, comes back with an offer theycan't refuse: Aurora will provide the machine at no cost andeven pay rent for the space to use it. Then, Aurora pockets theinsurance payment for each use of the machine--about $1,000 perpatient--for the following five to seven years.
Although selling one machine means a one-time profit of over$700,000, the same machine placed in a hospital or clinic cangenerate $15,000 a day--enough to pay for the machine and itsmanagement, plus put $2 million a year toward Aurora's bottomline. "This is the best-kept secret in medicine today,"says Cheng. She expects Aurora to double 2005 sales, growing toover $20 million in 2006.
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