Tell us about your business.MMJ Labs (DBA buzzy4shots.com) creates and researches personal pain products for fast needle and procedural pain relief. Having a child with a horrific needle experience, Dr Amy Baxter invented Buzzy®, May 1, 2009 thinking it would change the world of vaccinations for children. Not only has it helped vaccinations, but daily injections for children and adults alike.Thanks to working with Formation Design, our all-woman company has developed, manufactured and sold over 26,000 units online via word of mouth. New uses are discovered daily; electrolysis, in vitro fertilization, eczema and arthritis injections to name a few. We are introducing a new smaller version and are revamping the website and project management software. Buzzy® is quickly changing the face of vaccinations worldwide, reaching people in countries that desperately need disease relief. We plan to leverage testimonials and hospital credibility to entice chain drugstore clinic pharmacists to use Buzzy for flu shots.
What makes your business stand out?There is simply no other solution that provides pain relief on contact. The closest prescription solution, cold spray, went head to head with Buzzy in our first pediatric trial published December 2009. At $0.09 per needle stick, Buzzy decreased pain by half, and increased IV success three times compared to $0.50 cold spray. Independent investigators have been so taken by Buzzy that trials for IV access pain comparing Buzzy to $6 and $12/stick solutions are underway and going well. Given our mission of reusable, inexpensive products for personal pain control, we avoided VC investment that insisted on disposable, higher-end hospital products. Instead, tackling consumer introduction ourselves, we have bootstrapped development. Scientific SBIR NIH funding established critical medical acceptance, while PR, Web, sales and tradeshows we’ve done ourselves. With this strategy, our revenues have averaged 243k yearly and we surpassed that to 254k by June 2013.
What's the best business advice you've received?Only you can decide what kind of culture you will create and how you want your business to grow. Expect the arc of the business to last between 7 and 9 years from creation to sustainable. If you can't commit to that, don't start.
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