Meet an Entrepreneur Revolutionizing the Medical Industry
Serial entrepreneur, Joe Stiver, is a self-taught businessman who has made a name for himself in the medical industry. His latest venture, MedLab International Inc., was named the fastest-growing privately-owned company in Ohio in 2020 and ranked #25 on the INC5000. Joey’s passion for helping people and solving common problems led him to start MedLab International Inc., a company that offers premium medical supplies and equipment at an affordable price.
In addition to offering high-quality products, Joey ensures that his products are safe and
effective for consumers by following FDA 510k or quality standards. His products are mostly regulated as Class II or III medical devices, and they meet and exceed these standards.
To stay ahead of the curve and develop new products, Joey listens to the needs of his
customers and keeps his ear to the streets. By doing so, he is always looking for niche
categories and emerging markets that are underserved and attempting to develop new products where other companies are not.
As an entrepreneur, Joey has faced various challenges, one of which was growing too quickly. In a few short years, his business was spread across three states with four warehouse locations and two retail stores lacking inventory management and no trackable metrics. However, Joey overcame this challenge by resolving all the issues with growing too quickly as quickly as possible to keep up with the demand of the business and their growing number of customers. When it comes to marketing strategy, Joey believes that the best marketing strategy is 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.
As for staying up-to-date with the latest trends and developments in the medical industry, Joey is in the trenches every day, listening to not only the industry but also the customer’s wants and needs. He puts a plan and strategy in place that will not only keep him up-to-date but also ahead of the curve when it comes to the latest trends and developments in the medical industry. Joey’s digital care side of the business is growing, and he plans to enter new niche categories in 2023. While he cannot disclose much at this point, he assures that his new initiatives will make a drastic impact on the industry.
For someone interested in starting a business in the medical industry, Joey advises that it is not easy. There are regulations, approvals, and red tape to navigate through, and one needs to be committed and patient.
Despite the inevitable regulatory hurdles and changes in the medical industry, Joey is confident that his business is sustainable. As people age, have surgery, or get sick, the need for his products will always remain. Joey’s biggest strategy is execution, and he plans to adapt to changes in the medical industry by putting a plan in place of where he needs to go to keep up with the changes.
In conclusion, Joey is an entrepreneur revolutionizing the medical industry with his premium yet affordable medical supplies, focus on safety and effectiveness, and commitment to staying ahead of the curve. His passion for helping people and solving common problems is evident in his business ventures, and his continued success in the industry is a testament to his dedication and hard work.
