Calloway Cook is the co-founder as well as the CEO of Illuminate Labs. The startup deals with issues concerning testing dietary supplements in the market.
While purchasing dietary supplements, Calloway Cook noticed how clients were willing to pay more than the normal prices for safe and tested samples. There was no player in the market, so he decided to give it a try. He operated as a monopoly for the year before other minor competitors were set up. In 2019, he managed to raise a good pre-seed capital to set up the startup.
The illuminate labs idea rises from my frustration in the dietary supplements market. I struggled to find tested results from a supplement company, but none of them were willing to offer. As I approached the company personally, I even vowed to give them a higher price but they declined. After a few months, I realized that I wasn’t alone in this journey, we had a bunch of complaints from customers.
The high demand drove me to set up a US supplement company that is safe and transparent to every customer. Our service involves testing third-party products in the lab before publishing the results. Every consumer has the right to see results on the cover page of the product.
My days vary with the number of tasks I have planned. And I believe, an entrepreneur should always be ready for anything. I would wake up to focus on the priority business first. For example, if my to-do list has suppliers issues, I would start with that to make sure customers get the best service. Social media campaigns are another good thing that I consider because organic traffic matters a lot. As the day goes by, I have to ensure I knock out all my tasks.
Whenever an idea runs into my mind, I will note it down and think deeply about it. My mind is very flexible to absorb anything, but I have to consult before taking the next step.
Free resources such as PubMed have enlightened consumers about the supplements space. Some have learned how to go about analyzing research in the market. It helps if you want to make a future decision about certain products.
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Meditation is my dose to remain productive. It is always positive when you keep your mental health first, before other things. When the surroundings are cool, it creates a comfortable environment for making wise decisions. After meditation, I find myself efficient and productive. If I get back to a younger Calloway Cook, I would advise him to keep his health ahead of money.
Most people will defer with me but I remain positive about gene editing. Technology is key for our health. It detects unhealthy product that goes array with some genes hence leading to diseases.
To every entrepreneur, I encourage them to set daily, monthly and yearly goals. Then stay consistent on achieving them. Procrastination is a killer disease. Tackle all problems with the same energy.
My company has several investors, and am happy about his. I don’t think I could manage with my capital. Aso having a good team has bored positive results.
Failing is part of life. My first business, while I was in college, failed drastically. That experience exposed me to many informed decisions about venture capital. The knowledge has helped me even with the illuminate labs.
Blockchain technology is trending daily as the crypto market fluctuates. But I see a gap in building social media platforms supported in a decentralized platform. Although the disadvantage will rise, it will be a thriving business.
Daily, I use TaxJar, a software that calculates and reports the sales tax in my business. My e-commerce business has expanded its roots hence I must track down sales tax in over 50 states. The automation in the software saves time.
Eric Ries wrote an outstanding novel for entrepreneurs, “The Lean Startup”. From day one in my business, I have relied on the lean methodology of running a startup. Eric goes ahead to explain the principles in a simple and understanding way, accompanied by examples. To all entrepreneurs, let popular names like Jeff Bezos be our mentors.
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