Playing basketball for the German National Team, Vadim Fedotov saw first-hand the drawbacks of sports supplements. After tearing his ACL, he was given a handful of vitamins and nutrients available, but none of them worked. He realized that supplements had to go beyond single formulas and address each person's needs in real time.

Fedotov is now the co-founder and CEO of Bionicwhich offers users customized supplements to “deliver exactly what your body needs.” Using an AI-powered algorithm built around a proprietary database of over 6 million biochemical data points, the company provides additional personalized recommendations based on key biomarkers, either from your last blood test or data from personal questionnaire and other users like you.

“No supplement company has ever given the consumer the opportunity to see if the product actually works,” says Fedotov. “We wanted to create the first measurable product where you can track whether the supplement is having a positive impact on your body.”

Since its launch, Bioniq and its Bioniq GO and Bioniq PRO products 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 him A Day with the 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 acknowledged that long-term success in the highly regulated supplement industry requires meticulous attention to legal detail and compliance. Putting in the initial work to get the right legal footing allowed Bioniq to focus on product development and customer experience, knowing the operational side was on a stable footing.

“The one thing I never regret spending money on is lawyers and legal and certification and making sure everything is set up. So when we go, we're ready for it,” he explains.

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Keep friends apart

A 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 business with your friends.” Fedotov acknowledged that mixing personal and business relationships can often lead to tension, blurred boundaries and misplaced expectations, which can ultimately strain business and personal ties.

Stay focused

Another important lesson was keeping his radar laser-focused on one core goal and refining it before branching out. In Bioniq's case, this means perfecting their custom supplement offering before considering any further expansion or diversification. Fedotov says he's learned from past experiences that trying to expand into too many areas too quickly can drain a 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 motivated founders, Fedotov has trouble catching a break. He finally took a break this summer after working 24/7 for Bioniq for the past six years. “This has been the biggest step for me,” he says.

But he understands that's 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 constantly push my teammates too hard, 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 be honest about the challenges of being an entrepreneur. It's not 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 They just see you smiling, because you have to show, you have to be the creator of faith different ways.”