Turning New Products Into Profit

Tips on R&D, branding and sales for entrepreneurs with a new product idea

Written by Andrew Brown & Robert Gold

In this episode of the PROFIT BusinessCast, Alex Savva, co-founder of PharmaFreak Sciences gives his top three pieces of advice for any entrepreneur looking to launch a niche product in their industry.

Savva and his partners develop and sell sports supplements, a very specialized niche within a very competitive space. It started when they identified a gap in the market. As users of these types of supplements, Savva says they weren’t satisfied with their potency. “We found they were overhyped and over-marketed but not delivering,” he says.

They developed their first product (which they tested on themselves) and used it as a springboard to launch a successful business.

PharmaFreak is also a little-known Canadian export success story, with healthy global sales, particularly in the European market.

For Savva’s story and his advice, listen to the podcast.

Available on iTunes

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