“It is essential to align with a partner with
similar philosophy. This leads to a
successful launch and more importantly,
happy customers.”
— MICHAEL PUGLIESE, CEO & PRESIDENT, CIRCADIA BY DR. PUGLIESE
deliberate pairing, curated for a specific
reason. “HydraFacial is known for their
innovative delivery system and Circadia
is known for innovative
ingredient technology, the best of
science and nature in perfect rhythm,”
said Pugliese. During a period of rapid
growth, he said his company went
looking for new partners also experi-
encing exponential growth. “It was not
hard to determine it was HydraFacial,”
he said.
Pugliese also cited the critical trust
factor that comes with philosophical
agreement. “It is essential to align with a
partner with similar philosophy. This
leads to a successful launch and
more importantly, happy customers,”
said the skin care expert.
He added that doing the homework
up front to find the perfect partner
resulted in a collaboration that “has
been synergistic since the beginning and
has only exceeded our expectations.”
Early discussions identified a “win-win”
financial structure, that Pugliese said
uses “the strengths of each company to
take the partnership to the next level.”
All agreed that, although forming a
successful strategic business partnership
requires time and focus, the relationship
can yield profits otherwise unavailable.
“Put a lot of thought into choosing
your partner, and get the opinion of your
team, fellow industry vendors and your
mutual customers,” said Compton. “But
ultimately, let your intuition guide you to
select the best partner. After you’ve
chosen your partner, be grateful for and
support one another. It’s crucial to not
just create a great product that will retail
well, but also to support your joint
efforts by showing gratitude for all of the
work and effort both teams put in to
making the project a success.” n
JAN WINTER is a freelance writer with more than 20 years of experience writing on a variety of
business topics. She is based in Lagrange, Kentucky.
3.
DEFINE THE DETAILS “After
figuring out the scope of the
project, take the time to write out
a detailed project plan and create an
agreement that outlines
what each party is
responsible for
managing, creating
and delivering. This
makes it so there
are no unexpected
surprises down the
line,” says
Compton.
4.
COORDINATE
CARFULLY
Exchange
marketing
collateral, and
coordinate the
timing of press
releases by both
partners’
marketing teams.
Work together to
ensure co-branding
cohesion without losing your own
brand identity.
January/February 2019
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