Pulse January / February 2019 - Page 37

“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 ■ PULSE 35