Biolife Essay

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Running head: BIOLIFE LLC The Biolife LLC Case Biolife LLC Case Study Biolife’s sole product was Quick Relief (QR), to which it was described as a patented powder product which will stop bleeding within seconds and is “unlike anything else out there.” It was eight years before that the founders of Biolife had stumbled on the discovery of QR quite by accident while working in their lab. They had come upon a new compound that stems bleeding. Writing in the Wall Street Journal, Laura Johannes, a staff reporter for the paper, in an article on product advances in health care, stated that new technologies that have saved lives in emergency wards and battle fields are now available to consumers. Biolife is one of several companies involved in this endeavor. Biolife, as a startup company, waivers between being a Type B or a Type C startup idea. While the founders had come upon this more by accident, they had discovered somewhat of a relatively new technology in the area of products that stem bleeding. However, in the past, styptic pencils had usually been used to stem bleeding from minor cuts and larger wounds required pressure to be applied first, but the Biolife product when used on either will speed the process. Therefore, the product tends to be an improved way to perform the older traditional methods of stemming bleeding from wounds. In the beginning Biolife had very little infrastructure. It was a business idea that had been stumbled on by accident. The initial problem to be faced was how to compete in an already crowded mass market for traditional products which stem bleeding, such as a band-aid. Identifying opportunities of the new product would need an inside-out analysis to fit it into their existing businesses resources and capabilities, such as cash, equipment,
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