Create partnerships with positive, successfully motivated people while you are young.
Founded in 2017, Vilvet Pharmaceutical was built on the premise that every relationship is valuable. Starting with their hired staff and growing outward, the company has designed itself in a manner to build up careers, and by extension the company. The registration with the Food and Drug Administration coincided with the rise in generic drug prescriptions.
The company made strategic partnerships with the same emphasis on relationship building. This led to rapid growth. The company became profitable in under a year and Founder as well as team at the top – Sebastian Vilvet, credit the value they have placed on building long term relationships within and without the company.
The Founder – Sebastian Vilvet was quoted as saying, “It is all about growing people and elevating their careers.” In the case of their partnerships, that becomes building the success of their partners as much as it is building their own business.
Vilvet Pharmaceutical relies on a regular habit of researching each product before acquisition or development. They narrow down what is both in demand and beneficial. While searching through perspective products the team has to keep in mind that competition for the product as well as potential profitability. By trusting this team to determine the best products to launch, Vilvet Pharmaceutical structures their launches for the successive year.
Vilvet Pharmaceutical also depends on the most up to date marketing strategies. This can include direct to consumer or partner email marketing campaigns with firm calls to action. They create various engagement opportunities wherever possible, enabling the relationship cultivation in a manner that connects the company and their partners consistently.
Where did the idea for Vilvet Pharmaceutical come from?
The name just came to us. We’ve spent many years in the industry. It is a great industry to be in. You have the opportunity to help so many people. We have over twenty-five years of combined industry experience in the pharmaceutical industry. We liked what we were doing, and in the process, Vilvet Pharmaceutical is making a profit. It is something that we love doing. We wanted to build our business to help others, but we wanted to do it on our own terms.
What does your typical day look like and how do you make it productive?
You have to understand what your objectives are on a daily, weekly, and monthly basis. Write them down, make a list. It is critical to stay in contact with our customers. That is at the top of the list. The daily routine list should not be changed when it comes to customer contact, it should just be added to as required.
How do you bring ideas to life?
One of the ways that we bring ideas to life is during our daily meetings. All ideas are brought to the table along with our strategies going forward. We discuss ideas, strategy, and objectives. We all collaborate in these discussions and come up with our conclusions to bring us forward.
What’s one trend that excites you?
The thing that excites me the most is the trend towards generic products. The cost and pricing of advertising and branding in the market are astronomical. The trend has moved in our direction. Working with generic pharmaceuticals at this time is very exciting. It is a growing industry.
What is one habit of yours that makes you more productive as an entrepreneur?
I think the habit that everyone should become very good at following is list-making. It truly helps you to stay focused on the tasks at hand. If you can follow that list and accomplish 3-5 tasks each day, you will be very productive and to achieve the goals that you want. It helps immensely with time management as well.
What advice would you give your younger self?
I would tell my younger self to create partnerships with positive, successfully motivated people while you are young. Build those kinds of relationships and surround yourself with smart ambitious people. Value those relationships, that is what will lead you to mutual success through collaboration.
Tell us something that’s true that almost nobody agrees with you on.
Many of the product lines that we currently have were products that we were told we shouldn’t bother to invest in. But, we made the decision to invest our time and a lot of money. Now those decisions are paying off.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
One of the things that I think is critical with any business is to meet with your staff members to make sure that everyone has the clarity and thought that we are all on the same page. We layout our goals and our objectives each day so that there is no question as to what has to be accomplished.
What is one strategy that has helped you grow your business?
The strategy of this business has always been to find the right people and the right products. Your employees are the most valuable assets in any business. They are the ones that make everything happen. You have good staff in house and you have the ability to grow a great business.
What is one failure you had as an entrepreneur, and how did you overcome it?
I really don’t believe in failure. I see failure as a learning opportunity. Which is what I had when I first opened the business. I would have raised more capital early on in the business. It would have helped me grow a lot faster.
What is one business idea that you’re willing to give away to our readers?
I don’t know of a business idea that I could share. However, for anyone wanting to get into the business, I would tell them to do what you know. Too many people get into business with little or no knowledge about what they are getting into or what it takes to be successful. I would recommend that you simply do what you know.
What is the best $100 you recently spent? What and why?
The best money I recently spent is when I took my family out to dinner.
What is one piece of software or a web service that helps you be productive?
I use Excel more than any other software. There are spreadsheets and schedules that have to be made and Excel is my go-to software. I use other applications as well, but not nearly as much as I do Excel.
What is the one book that you recommend our community should read and why?
I spend my time online reading about all of the new innovations in pharmaceutical development. I want to know all of the new trends in the industry. You have to stay educated in your own industry. You have to know who your competitors are and what is trending in the industry. You have to know who is buying the products. All of these things are critical information.
What is your favorite quote?
Stay true to what you know.
• Stay true to what you know.
• There is no such thing as failure it is a learning opportunity.
• Create partnerships with positive, successfully motivated people while you are young.
Steve (Stefan) Junge hails from Germany and helps with the day-to-day publishing of interviews on IdeaMensch. While he and Mario don’t share a favorite soccer club, their enthusiasm to help entrepreneurs is a shared passion.