Interested in starting your own entrepreneurial journey in health and supplements but unsure what to expect? Then read up on our interview with Steve Matheson, Founder of Combilytics Corp, located in London, ON, Canada.
What's your business, and who are your customers?
We are in the anti-aging business utilizing the most advanced natural formula for clearing zombie cells. Our business model is DTC, direct to consumer via internet sales. Our typical customer is interested in maximizing their health span so they can add life to their years. Anyone from 35 on up is in the aging demographic, whether they realize it or not. Thirty-five is when the aging process starts to kick in.
Tell us about yourself
I've been a serial entrepreneur for 53 years; I've retired twice but never for very long as I need to be doing something that engages me deeply. In 2019 I read an article that said, "Zombie cells may be killing you." As a science geek and zombie fan, my first reaction was, what kind of BS was this? Turns out zombie cells are actually senescent cells which are one of the top 12 Hallmarks of Aging, and if you can control them, you have the opportunity to increase your health span.
Once I read several hundred papers and studies on this topic, I found that I could actually do something for myself and my family. As I worked out the formula, I realized that I was not the only person who was interested in enjoying a more healthy aging process. Using epigenetic DNA methylation testing, we found that our formula, EternLFX, could reverse epigenetic or biological aging. That's when I knew for sure we were on the right track. If you can't measure it, you can't manage it. I then started my first dietary supplement business in 2020.
What's your biggest accomplishment as a business owner?
While I have invented several medical devices and had great success in that market, and I've been involved in developing products in a wide variety of fields, from medical devices to laser tech to broadcast audio, I feel that this new venture in helping people improve their health span is the greatest thing I can do. Whether this becomes the "biggest accomplishment" is yet to be seen.
What's one of the hardest things that comes with being a business owner?
For me, it's developing "the team." It's not that there are not enough qualified people to work with; it's that, as a startup, you often have financial restrictions that limit the level of expertise you can afford. No founder has all the answers, so having a diverse team to offer a variety of views on how to get from here to there, in all aspects of the business, is often the biggest challenge. Quite often, founders are tempted to offer equity, and the person taking that equity is not always what they appear or promote themselves to be, and equity is more costly than just contracting out certain functions.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Do as much as you can to get your MVP (minimum viable product) functional at the lowest cost possible.
- Hire/contract out as much of the functions you are not good at before handing out equity.
- Don't wait to be perfect; seeking perfection is the greatest excuse for not doing the hard things.
Where can people find you and your business?
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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