Joey Stiver is an entrepreneur who has made a name for himself in the medical industry. His journey to success wasn’t straightforward, as he dropped out of college and became an autodidact. However, his passion for helping people and solving common problems led him to start MedLab International Inc., which has been named the fastest-growing privately-owned company in Ohio and ranked #25 on the INC5000 list. The company’s success is due to its commitment to providing premium products at an affordable price, which sets them apart from others on the market.
One of the biggest challenges Stiver faced as an entrepreneur was the rapid growth of his business. In just a few short years, his company had expanded across three states, with four warehouse locations and two retail stores. However, with his team’s help, he overcame the issues that came with growing too quickly and kept up with the business’s demand.
Stiver’s marketing strategy is simple yet effective. He focuses on making products that are of equal quality at a lower price point and putting them in front of the customer to see their value and how they can solve their problem. He believes that listening to the needs of the people is the key to researching and developing new products and solutions to solve problems.
When it comes to staying up-to-date with the latest trends and developments in the medical industry, Stiver and his team are in the trenches every day, listening to the industry and customers’ wants and needs. They are always looking for emerging markets that are underserved and attempting to develop new products where other companies are not.
Stiver’s company has evolved, and they are currently working on digital care projects that will enter new niche categories in 2023. He believes that as people age, have surgery, get sick, etc., the need for their products will always remain. The longer they can sustain and grow in this space, the more notoriety and consumer trust there will be behind their brand(s).
For those interested in starting a business in the medical industry, Stiver advises being
committed and patient. The industry has a lot of regulatory hoops to jump through, and there is a lot of red tape to navigate.
Joey Stiver’s success in the medical industry is a testament to his commitment to providing premium products at an affordable price, listening to the needs of the people, and staying up-to-date with the latest trends and developments. As his company continues to grow and evolve, it will be exciting to see what new initiatives they will roll out and the impact they will make on the industry.
MedLab International Inc., founded by Joey Stiver, has become one of the fastest-growing privately-owned companies in Ohio. With a love for helping people and solving common problems, Stiver’s desire to solve the issues of Americans nationwide led him down the path of starting MedLab International Inc. in the medical industry. The company has since expanded into a telemedicine branch called MinuteMD, Inc., which connects patients with licensed physicians who can help care for them.
What sets MedLab International Inc.’s products apart from others on the market is the
company’s ability to provide premium products at an affordable price. Stiver has ensured that the products are safe and effective for consumers by adhering to FDA 510k or quality standards that must be followed for regulated Class II or III medical devices. The company meets and exceeds these standards to ensure its products’ safety and efficacy.
Stiver’s research and development strategy involves finding niche categories and emerging markets that are underserved and developing new products where other companies are not. By listening to the needs of the people, he can research and develop a solution to solve their problems.
The biggest challenge Stiver has faced as an entrepreneur in this industry was the rapid growth of his business. To keep up with the demand of the business and the growing number of customers, Stiver resolved all the issues with growing as quickly as possible.
MedLab International Inc.’s marketing strategy involves making a product that is of equal quality at a lower price point and putting it in front of the customer to see its value and how it can solve their problem.
Stiver stays up-to-date with the latest trends and developments in the medical industry by listening to and reading everything he can to stay on top of things. He puts a plan and strategy in place that keeps him up-to-date and ahead of the curve when it comes to the latest trends and developments in the medical industry.