Zedip Formulations is Gujarat’s first pharma company to get ISO 9001:2008 certification. And Parth Shah, the dynamic Marketing Director of Zedip Formulations has been contributing to a consistent + significant growth. Under his leadership, Zedip formulations has flourished, witnessing a remarkable increase from 150 to over 400 brands. Parth Shah’s story is a fascinating blend of tradition and innovation. He has come a long way with contributing to family’s pharmaceutical business and his ambitious venture with Allspur Lab LLP. Today, as the Marketing Director of Zedip, Parth continues to drive the company’s success with his strategic vision and relentless dedication.
Joining The Family Business
Parth Shah’s journey into the pharmaceutical industry began with his academic pursuits. He graduated with a B.Pharm and M.Pharm degrees from Pune and Mumbai respectively. These degrees provided him with a solid foundation in pharmaceuticals. Recalling his time in Pune and Mumbai, Parth calls it ‘transformative teaching lessons.’ As he believed that living away from home and managing with limited resources gave him real life hustling experiences. And these experiences help him shape for future. Parth is now in his mid-thirties and joined family’s pharma business, Zedip Formulations about a decade ago in 2014. At that time, the company was experiencing steady growth, but Parth had bigger dreams. Over the years, under his influence, the company has seen significant development, although he acknowledges that there is still more to achieve. He believes in continuous growth and his confidence in reaching thetargets is a testament to his dedication and vision.
Clashing Visions: A Father’s Guidance
After completion of studies, Parth came back to Ahmedabad. He initially launched a health drink subscription model start-up with a friend. However, the pull of his family business led him to Zedip Formulations which was founded by his father in 2004. In the early days of Parth’s tenure at Zedip, he often found himself at odds with his father’s traditional approach to business. His modern outlook and fresh ideas clashed with his father’s conservative strategies. Gradually, as he gained more experience, Parth realized the wisdom behind his father’s methods. The cautious and steady growth strategies laid a strong foundation for the company, preventing it from taking unnecessary risks. This realization helped Parth strike a balance between innovation and tradition, leading to Zedip’s presence over 20 Indian states.
Personalized Touch: A Unique Selling Proposition
In the highly competitive pharmaceutical industry, Parth identified the importance of a personalized touch. Unlike many larger companies, Parth ensured that his clients and distributors had direct access to him. He eliminated the hierarchical communication chains typical in the industry; consequently, it significantly improved customer satisfaction and loyalty. Furthermore, this hands-on approach allowed Parth to address issues promptly and maintain strong relationships with his clients. However, Parth’s journey has not been without challenges. Specifically, from integrating new technologies to launching innovative products, he has faced numerous hurdles. However, these challenges have only fuelled his determination. Parth successfully sailed through turbulent times of poaching in the pharma field. His strategic thinking and personal USP have been instrumental in overcoming these obstacles.
Diversification with Allspur Labs & Leadership skills
Recognizing the need for diversification, Parth ventured into the derma products industry by launching AllspureLab. Moreover, with a focus solely on derma and prescription-based products, AllspureLab has carved out a niche in a booming market. Consequently, within a year and a half, the company has introduced 50 products, targeting the growing demand in the derma sector.Parth’s vision for AllspureLab is to build on this foundation and expand further, tapping into the immense potential of the market. His leadership style is characterized by a balance of flexibility and accountability. He even places great importance on regular interaction with his team, addressing their concerns and keeping them motivated, even during challenging times.
Learning Insights from Parth Shah
Parth’s definition of success is rooted in growth and achieving personal milestones. He believes in continually setting new targets and striving for excellence. For him, success is a never-ending journey of innovation and improvement. Parth’s advice to aspiring entrepreneurs is simple yet profound: set clear targets, strive to achieve them, and maintain a personalized touch in all business interactions. He emphasizes the importance of building strong relationships with clients and staff, which he believes is crucial for long-term success. Parth’s journey is a testament to the power of perseverance, innovation, and the human touch in business.
Conclusion
Parth Shah’s journey from joining his family business to launching a successful new venture is truly inspiring. Moreover, it is a story of dedication, resilience, and visionary leadership. In addition, his ability to balance tradition with innovation has set a strong foundation for continued growth and success. With plans to expand into new fields such as cardiac and other specialties, Parth is committed to keeping Zedip Formulations at the forefront of the pharmaceutical industry.
Keep visiting Gujpreneur for more such inspirational stories!
