Interested in starting your own entrepreneurial journey in health and wellness but unsure what to expect? Then read up on our interview with Gavin Armstrong, Founder and CEO of Lucky Iron Fish, located in Toronto, ON, Canada.
What's your business, and who are your customers?
Lucky Iron Fish Enterprise® (LIFE) is a proud Canadian social enterprise and B-Corp that offers a simple, affordable, sustainable solution to iron deficiency, the world’s largest nutritional challenge. Incorporated in 2012, LIFE currently distributes the Lucky Iron Fish to more than 90 countries worldwide. Extensive scientific work on the Fish has been published by independent academic institutions to demonstrate its safety, efficacy, and impact.
Lucky Iron Fish Enterprise is a social enterprise preventing and solving iron deficiency around the world. Iron deficiency is the most prevalent micronutrient disorder, causing negative social and economic impacts around the world. We have created an innovative cooking tool that is scientifically proven to reduce the prevalence of iron deficiency anemia and improve iron status. The company operates an impact fund, where a portion from each unit sold online is donated to our impact fund to provide Fish for families in need around the world. The Lucky Iron Fish needs to be boiled for 10 minutes in any liquid or broth-based meals to release a significant portion of the daily requirement of iron. One Lucky Iron Fish is reusable daily for up to 5 years.
Tell us about yourself
I have always had an interest in solving issues related to hunger and malnutrition. My undergraduate studies were in business, but my Ph.D. was in biomedical science. I wanted to merge business and science and build a social enterprise focused on solving one of the world's largest problems. I believe that businesses have the tools and resources needed to help achieve sustainable development goals (SDGs), and I want Lucky Iron Fish to be an example of that.
Do you have daily rituals for work / wellness / fitness / mindfulness?
Fitness is really important for both my mental and physical health. I try to do some form of workout every day, even if it is just 10,000 steps. I am also trying to stretch more (but need more dedication to that).
What's your biggest accomplishment as a business owner?
Over the past ten years, we have turned Lucky Iron Fish into a globally recognizable social impact brand. The Lucky Iron Fish is often used as an example of a business that is doing well by doing good.
What's one of the hardest things that come with being a business owner?
I think when you are an entrepreneur, your personal identity gets wrapped up with your business. They often feel like one persona. This means when you are successful; you feel that success, but when you are going through hard times, you carry that weight with you. I am trying not to take business failures so personally, but that is a very hard thing to do.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Don't be afraid of failure. It will happen; just learn from it.
- Build a team that complements your needs, not your ego.
- Raising money is hard and takes a long time. Budget accordingly.
Is there anything else you'd like to share?
We take a portion of each sale of a Lucky Iron Fish and put it towards donating units for free to families in need around the world. Check out our website to learn more and get your own Fish!
Where can people find you and your business?
Website: https://luckyironfish.com/
Facebook: https://www.facebook.com/LuckyIronFish
Instagram: https://www.instagram.com/luckyironfish/
Twitter: https://twitter.com/LuckyIronFish
LinkedIn: https://www.linkedin.com/company/lucky-iron-fish/
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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