For the latest in our series of editorials focusing on Irish Women in Business, we’re talking to Roz Martin of MedColl.
MedColl provide a natural alternative to Botox injections and dermal fillers, with a range of an anti-ageing supplements for women in their 30's, 40's and 50's. As well as catering for women's beauty, the range includes men's supplements, with users sharing feedback of smoother skin and reduced wrinkles.
Roz tells us why she quit her job in Dubai, moved back to Mullingar to start her business, that "pinch-me moment' and the advice of mentors along her way.
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What was your background before setting up MedColl?
I studied Nutrition, Food Science & Management in DIT and then went to the UK to study and complete a Business Degree at the University of Central Lancashire in Preston.
I spent over 11 years within the British and Middle East Pharmaceutical industry, working for companies such as Akzo Nobel, Frederick Perdue, Johnson & Johnson Ortho Biotech, specialising in female health, dermatology, pain management and oncology.
It was during my time working in Johnson & Johnson Biotech that I attended the American Academy of Anti-ageing Medicine Conference and identified a niche in the derma-cosmetics market for a natural based nutri-cosmetic supplement. I then began work with several anti-ageing compound pharmacists in developing products that would help improve the skin and joints.
I took the plunge and quit my job in Dubai as a senior oncology specialist to return to Ireland and set up a biotech company and to develop the MedColl product range. It was an easy decision to have our headquarters in the heart of Europe’s centre for pharmaceutical and healthcare product excellence, Ireland and I decided to locate the business in my home town of Mullingar.
Why did you choose to go into the anti-ageing market for skincare?
I am an absolute passionate advocate for the natural approach to managing the ageing process, it’s always been a favourite therapy area for me and I have worked in the industry for some years although on the pharma side. Personally though, I would favour the holistic approach when it comes to anti-ageing products, treatments, alternative supplement therapies and of course not forgetting diet and exercise…this is what works long term. It’s not about doing one thing and expecting it work, it’s more all-inclusive way of life.
What made you choose to expand into the male skincare market?
Two things. Firstly, demand from our customers, we had originally female only formulations which we discovered men were taking and so we re-formulated the product especially for male consumers. And secondly, the male cosmetic / personal care and grooming market is one of the fastest growing sectors and we want not only to be part of that but also to be able to offer men a product that has been made especially for them.
Was it difficult to stand out from the crowd?
It’s always difficult to differentiate your product from all others in the marketplace, but I think that if you have something that’s new, innovative and works more effectively than what is currently available to consumers, then most definitely your product will not only stand out but will attract and retain these consumers.
How did you decide to market MedColl?
So MedColl’s uniqueness is its mode of action, the way it works.
And also that it is evidence based, as it has fantastic scientific data from UCD behind it.
We knew a product like this would need a science based approach in order to demonstrate its efficacy as MedColl is a health product with a cosmetic function.
What has been your biggest barrier since starting up the company?
Access to funding. Having been away from Ireland for over 13 years, I had no credit score and so none of the banks would lend to us. So the business has always been bootstrapped by myself. The upside to that now is that we don’t have any debt or business loans, but it was very tough at the start.
Have you had many mentors? What has been the best advice they've given you?
I have two business mentors who help me align our business strategies and keep us on track. And the most encouraging and supportive mentor I have is my father, he’s become an invaluable sound board in the business and for everything I do.
What's been your greatest moment since starting up MedColl?
I’ve had quite a few “pinch-me-moments” along my journey. My most memorable would be; I remember the first national wholesale deal we received before we even launched the product and it was the very first order actually; it was for 300 units. The buyer loved the product and placed an order there and then, and he insisted on seeing my out to my car to say goodbye, only problem was I hadn’t got a car in the carpark, couldn’t afford one, and I had to take the bus to make the meeting. I did indeed cry tears of joy as I walked the 40 minutes to the nearest bus stop and called my parents to tell them the great news. Such a great moment and the much needed financial boost we needed at the time.
Another great moment was when I went into a pharmacy to pick something up and I passed by a shelf and saw my products on the shelf for the very first time. Felt very proud. And of course landing a huge deal worth €1M in the Middle East, we had just come out of our fourth negotiation meeting with them in Dubai and I was back in the hotel room when I got the call. I had to sit down on the bed to let it sink in.
What advice would you give to somebody starting off?
Day 1, it really is a “faith based enterprise” that only you have the belief and passion that you have a great product or a great service. So if you do fully believe and think it’s a viable business, then you set out to search for a scalable and repeatable business model specific for your own start-up, something that generates predictable revenue. This is what most start-ups do.
When you do get going, surround yourself with the positive people that will help you on your entrepreneurial journey, so try and have someone in your business that is the “stabiliser” someone who runs the day to day activities or you can outsource these functions, don’t let them detract from your time and when you know that this is taken care of, you can focus on “building” the business, discovering and seeking out mentors, industry experts and people who will help you grow as business person. And it goes without saying – you’ve got to love what you do!
