Jim Gaynor, President of LightPath Technologies, joined the company as corporate vice president of operations in 2006 to transition the company into a manufacturer.
"To do that, we had to revamp our cost structure," he said. "It cost $8 to produce a lens then and the market decline was applying price pressure so we took advantage of our China subsidiary for manufacturing and set our Orlando office up to be the development/engineering arm. We changed our tooling technology to give us longer life spans from the equipment which had the lucky result of enabling us to use much lower cost glass materials. As a result, our overall costs were reduced significantly allowing us to enter new markets and grow the business to where we now make 3 million lenses annually."
Gaynor has since been named President of the company and joined GrowFL's CEO Nexus executive roundtable group.
"It’s a great resource," he explained. "If you can get involved in the CEO group, it's just invaluable. You never know when you'll pick up that one little nugget of information that will be very helpful. The platform that GrowFL has created to get you involved in community and with like-minded people is fantastic. I would highly recommend people managing companies to get involved. It's well worth your time."
LightPath Technologies is a publicly traded company that designs and manufactures visible and infrared optical components for the industrial, defense, telecommunications, testing and measurement, and medical industries. LightPath also offers custom optical assemblies.
"Our differentiator is that we have global scale, and world-class design and fabrication capability," Gaynor said. "Our process is very flexible from a materials standpoint. We have manufacturing in Asia, Europe and North America."
GrowFL is also assisting Gaynor implement the Entrepreneur Operating System.
"In 2016, we acquired an infrared company and now 50 percent of our business is in the infrared spectrum," he said. "The EOS and CEO Nexus helped us with that transition of getting the organization integrated with another company and merging the two cultures together. It has been extremely valuable to get their perspective."