'One Size Does Not Fit All:' The Supplement Myth That This CEO Wants to Shatter Vadim Fedotov, CEO of Bioniq, aims to personalize the supplement market by creating custom pharmaceutical-grade products.
By Jon Bier
Key Takeaways
- Fedotov is a former pro athlete who saw the limits of one-size-fits-all supplements.
- He offers several valuable lessons he’s learned from founding his company, Bioniq.
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Playing basketball on the German National Team, Vadim Fedotov saw firsthand the shortcomings of sports supplements. After tearing his ACL, he was prescribed handfuls of off-the-shelf vitamins and nutrients, but none of them worked. He realized that supplementation needed to go beyond one-size-fits-all formulas and address each person's needs in real time.
Fedotov is now the co-founder and CEO of Bioniq, which offers users supplements tailor-made to "deliver precisely what your body needs." Using an AI-powered algorithm built around a proprietary database of over 6 million biochemical data points, the company provides personalized supplement recommendations based on key biomarkers, either from your latest blood test or from personal questionnaire data and other users like you.
"No supplement company ever gave the consumer the option to see if the product actually works," Fedotov says. "We wanted to create the first quantifiable product where you can track whether the supplement has a positive impact on your body."
Since its launch, Bioniq and its products Bioniq GO and Bioniq PRO have seen positive results, attracting over 100,000 users, with 92% of them reporting significant improvements from one supplement cycle to the next. Fedotov joined the One Day with Jon Bier podcast to talk about the challenges his company has faced in a highly regulated market and what he's learned along the way.
Get your legal ducks in order
Fedotov recognized that long-term success in the highly regulated supplement industry required meticulous attention to legal details and compliance. Putting in the upfront work to get the legal foundation right allowed Bioniq to focus on product development and customer experience, knowing the operational side was on solid footing.
"The one thing I never regret spending money on is lawyers and legal and certification and making sure that everything is set up. So when we do take off, we are ready for that," he explains.
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Keep friends separate
One key lesson Fedotov learned while starting Bioniq was the importance of keeping business and friendships separate. He explains, "Number one is to become friends with your team members. Don't do work with your friends." Fedotov recognized that mixing personal relationships with business can often lead to tension, blurred boundaries, and misaligned expectations, which can ultimately strain the business and personal connections.
Stay focused
Another pivotal lesson was keeping his radar laser-focused on one core goal and perfecting it before branching out. In the case of Bioniq, this means perfecting their personalized supplement offering before considering any further expansion or diversification. Fedotov says he's learned from prior experiences that trying to expand into too many areas too quickly could dilute the company's resources and hinder long-term success.
"Focus on one thing, and get that one thing right," he says.
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Let people work at their own pace
Like many highly driven founders, Fedotov has trouble taking time off. He finally took a vacation this summer after working 24/7 for Bioniq for the past six years. "That's been the biggest leap for me," he says.
But he understands this is not necessarily a healthy way to run a health business ("It's my problem," he says) and has made a point not to impose his tireless work ethic on his team.
"I've learned from sports that if I push my teammates too hard constantly, they'll do what I want in the short term, but in the long term, they don't stick with me."
Expect to fail
Fedotov isn't afraid to get candid about the challenges of being an entrepreneur. It isn't as glamorous as people make it out to be.
"If you want to talk about a 37-year-old guy sitting on his bed crying because he doesn't really understand why everything is going wrong, that's the life of a founder," he says, "People don't talk about that. They just see you smiling because you need to represent, you need to showcase, you need to be the visionary. You have to be the confidence maker. But the path there doesn't go like this. It goes different ways."
