Failures into Successes — Ian Coleman & Lifebites
“It’s fine to celebrate success but it’s more important to heed the lessons of failure” — Bill Gates.
We all encounter failure in life. Whether it may be exam results, driving theory test exam or a startup going downhill, we all face it at some point in time. However, what is important is how we react to and learn from that failure. From our Stuture journey, we met a man whose own failure stories inspired him to become a better entrepreneur. Ian Coleman.
After finishing his degree in Human Nutrition and Dietetics, Ian set up Lifebites in 2013 with the goal of making dietitians more accessible to the general public. Their initial idea was an app where customers could have access to all their dietary information. However, it ended up with customers connecting with dietitians just over video call. Ian won the best startup award from Local Enterprise Office and secure funds to build the first version of the product.
Lifebites had a rake of dietitians sign up but didn’t get the end customers. The problem was that he relied heavily upon himself and his own skill set. He failed to find people with the expertise until it was too late. So eventually they had to close down.
Ian talked to us about two types of businesses: those who do things and those who LOOK like they do things. It’s not that difficult to convince investors that you are confident and well prepared for what is to come. But it is pretty difficult to actually get things done. And the key to it all: HARD WORK. As students, we may cringe away from that word but it’s staring at us in the face! Ian advised us that you can never sit back in your venture. Once you start, you need to work until the very end. And of course put in your very best.
Now you might be wondering what’s so great about this guy, he failed his business right? Not really. Ian discovered Daniel and Jonathan who created his idea into a platform and also designed an app called Lifebites Lite which was used by dietitians. He never gave up. They are realistic risk takers. So when Ian saw his business going downhill, he began to invest in other ventures in healthcare.
Ian advised us to “be scientific about everything in life”. Vague ideas presented brilliantly might impress investors but you can’t fool your customers. So it’s all about the figures and numbers. If you are planning to commence a start up, plan right. Get your data in place. Carry out research and find people who can help you. One thing we learnt from our Stuture venture is that entrepreneurs, especially start ups are always there to help. So don’t be afraid to reach out, don’t be afraid to ask and don’t be afraid to fail.
