The Big Questions – Dr.Gavin Armstrong, Lucky Iron Fish
Lucky Iron Fish is a certified B Corp Canadian company with a core product, the Lucky Iron Fish. The Fish is a simple and effective tool made of electrolytic iron that, when dropped into boiling liquid, provides a safe and natural addition of iron to meals. It was developed after years of clinical trials and research into iron deficiency, is clinically proven to improve iron levels, and is safe for the whole family.
Not only is the product a simple, sustainable, and effective solution to the complex problem of iron deficiency, but the company is also committed to social impact. They are on a mission to make iron deficiency a thing of the past, one Fish at a time.
Q: When did you first know that you were meant to be an entrepreneur?
A: When I was young, I was always interested in entrepreneurship. I used to try and invent things when I was in elementary school. I even once called a patent lawyer when I was 13. I have always had a desire to create something for myself.
Q: What is the biggest challenge you have faced starting your business?
A: Trying to grow the business with limited resources. Completing a capital raise and actually being able to hire a great team to help me was the moment our business really took off.
Q: What is the biggest “win” you have experienced as an entrepreneur?
A: I was honoured to be named Forbes 30 under 30 and EY Social Entrepreneur of the Year at the same time. I was honoured that both organizations would highlight the work that social businesses are doing. It also helps that I received the Forbes accolade when I turned 30 so I just made the cut-off.
Q: What is the most important piece of advice you would give to others who are starting their own business?
A: Surround yourself with people who are mission-aligned but bring different skill sets than your own.
Q: What was the biggest key to your success? How do you measure success?
A: Lucky Iron Fish measures its success through our impact. How many lives have we improved, how are we improving those lives, and what can we do to scale that impact?
Q: If you could go back in time, is there anything you would change about your entrepreneurial journey?
A: I wish I had surrounded myself with mentors and advisers earlier on. I think a lot of mistakes I made (and in the beginning I made a lot) could have been avoided if I had just asked for advice.