🏦 Progress of Our Startup and Where Do We Stand Currently?

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This section of our blog covers:

  1. The progress of our startup.
  2. Our remaining goals.
  3. Our current status.
  4. Our consistency in reaching our goals.

Similar to our business operations, we are consistently updating this blog with every achievement, one step at a time.

Don’t miss to check out our recommendations within this comprehensive blog.

Table of Contents:

  1. Where were we?
  2. Status Update: What We’ve Created
  3. Our Roadmap
  4. Our Current Progress
  5. Validation phase

Where were we?

Since our start in September 2022, we given priority in building a value provider, rather than focusing on acquiring clients.

Our aim is to focus on fundamental development over client acquisition, as this approach will lead to greater success in the long term.

Despite this approach, we have successfully acquired more than 10 leads over the past one year (dated on Jan 2024) which is a testament to the value we offer.

Starting from Scratch

This company didn’t start like most companies. We began with a clear idea, leveraging our experiences in pharmacovigilance, and we knew what the market needed.

πŸ“’ Check out our write-up if you are a healthcare professional or have an interest in starting a business in the pharmacovigilance domain (a highly competitive field) and what is full capability of running a Pharmacovigilance system.

Status Update: What We’ve Created

Tailoring Information: Addressing Client Needs:

We start with building a website is simple with no complexity and easily understandable to the clients.

We have a reasonable responses from visitors to our recent updates, but we are still working to improve the website’s value further. We keep on developing and updating the content.

Powerful Social Media Presence:

After establishing our website, in today’s digital age where people spend countless hours scrolling through social media, we set out to cultivate a thriving community online.

Our efforts have paid off, as we’ve successfully garnered a substantial following and built a strong presence on various social media platforms.

Spotting Pain Points:

Identifying pain points is a straightforward process, but finding effective solutions to those problems can be challenging.

We believe in developing a solutions that address underlying concerns and offer tangible value to our clients and initiated with our total focus has been on building a solution to our customers.

Gathering Basic Requirements:

We have reached our core capabilities, including organizing and collecting customer emails, raising awareness, and expanding our audience.

This has provided valuable insights and increased our confidence in our ability to get new clients moving forward.

Adding Values:

We stand by that providing value is more important than offering lower prices to attract clients. If a company truly offers value, it should not have to lower prices to attract business.

Consistency and Confidence:

Many businesses fail only when they lose confidence and give up. Avoid getting anxious or bored. Patience is crucial for success.

Slow and steady progress can eventually lead you to your goal, even if it takes a long time. Stick with what you believe in.

We are confident that by provide meaningful value to our clients, we will be able to secure projects at reasonable prices.

As this approach will lead to greater success in the long term. Despite this approach, we have successfully acquired three leads over the past seven months, which is a testament to the value we offer.

Our Roadmap

While many companies consider offering lower salaries as a cost-effective strategy, our approach focuses on leveraging technology to reduce costs.

Specifically, we plan to put in place cost-saving measures by utilizing Linux distributions and preferring cloud for storage and server management in our workplace and prioritizing open-source software wherever possible.

πŸ“’ Recommendations: I suggest reading our blog if you’re genuinely interested in maximizing technology, as we discuss cutting-edge tools that are free and open-source (FOSS) and our plan to transition to Linux distributions in our work environment.

By doing so, we can improve security, reliability, scalability, and customization options.

The Extent of Our Openness

We want to be open with our visitors on our website, so we’ve displayed our prices clearly. We believe in being transparent and providing value, which will help us achieve even more.

Our aim is to cut confusion among our clients by being transparent about our pricing structure. We made this decision after thorough discussions, and we are confident that it is the right one for our company.

Rush Isn’t Push

At the beginning of our journey, we made a conscious decision not to rush the process and instead take the time to identify all the root causes.

As a result, we allocated a year for this purpose. However, we were able to complete this task much quicker than anticipated and are now almost ready to start acquiring projects.

πŸ“’ Recommendation: If you’re launching a business and need guidance on creating and refining SOPs, explore our comprehensive guide. When you’re ready to streamline your operations with finely crafted SOPs, reach out to us for expert drafting services.

Our Current Progress

  1. Compiled information and mapped out our process roadmap.
  2. Aggregated all technological requirements, outlining robust security measures and technical strategies.
  3. Generated over 15 leads as of now.
  4. Currently focusing on financial development.
  5. Awaiting suitable investors to join us in our journey.

The Validation Phase

Currently, we’re in a validation phase. We’re patiently waiting for the right client and the perfect timing to fully showcase our capabilities.

We’re building demand, and we’re confident that we’ll survive for the long run. We’re confident in ourselves, and we don’t view anyone as a competitor. If someone perceives us as competition, then let’s fight.

Let’s expect everyone to wish us good luck for a great future ahead. Get ready, folks!

FAQ:

Who is Drugvigil as a company?

Drugvigil is a reputable company specializing in pharmacovigilance services. Drugvigil excels in enhancing ICSR submissions and offers reliable pharmacovigilance services to support regulatory submissions effectively. hey are known for their dedication to transparency in their pricing model, ensuring there are no hidden fees or charges.

When was the start-up of Drugvigil initiated?

The company’s liability date is August 9, 2022. It is headquartered in Tamil Nadu, India.

What is their (Drugvigil) area of specialization?

Their specialization lies in ICSR management, and they also offer services such as Aggregate writing, Signal detection, Literature screening, and assistance in appointing a local person for pharmacovigilance.

Do you provide internships in pharmacovigilance?

Yes, we offer internships twice a year as our primary intake.

Disclaimer: We write this blog based on our experience and extensive knowledge, supported by references. Please note that we are not responsible for the content on the referenced websites. If you come across any misinformation or misguidance or spelling mistakes, kindly inform us promptly.



Bala Avatar

Meet Bala, the founder of Drugvigil, a service provider specializing in pharmacovigilance. He’s not only an expert in this field, but also a passionate entrepreneur who enjoys creating new opportunities and helping others grow. Despite starting from scratch, he’s determined to develop his company from the ground up. If you’re interested in his work, be sure to show your support and share his message with others.




Just a fancy image. www.drugvigil.com






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One response to “🏦 Progress of Our Startup and Where Do We Stand Currently?”

  1. […] articles. The first explains the difference between Drug Safety and Pharmacovigilance. The second discusses about our entrepreneur journey. It will help you understand the topic […]

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