213: A Pharmacy for the 21st Century… How Medino is bringing Health, Beauty, & Drugs to the Digital Age…

Subscribe on AppleSubscribe on AndroidLeave a ReviewGoogle PodcastsShare Listen in a New WindowDownloadSoundCloudStitcherSubscribe via RSSAndroidSpotifyPlayer Embed
SUBSCRIBE TO THE PODCAST

Background on Christian Jakobsson of Medino:

Christian Jakobsson is the Managing Director and Co-Founder of Medino. Before founding Medino, Christian was in IT Sales and Project Management. He began his career working as an intern in an advertising agency in the Philippines. He then worked in an IT-Consultant Company in Stockholm until he transferred to London and started Medino. He works with all sides of the business in Medino and he even helps in the picking and packing of orders in the Medino warehouse.

The recurring event of going to the pharmaceutical store to shop for health products is what planted the seed for the idea behind Medino. Christian and his other Co-Founders have tried to search for a truly digital online retailer of health and beauty products in London but they were unable to find one. Christian believes that it was time to set a new standard for health and beauty shopping online. Thus, Medino was created. Christian and his team are on a mission to make health and beauty shopping more convenient whilst maintaining the high-quality services their customers would expect from a traditional pharmacy. The team behind Medino all have a digital background and are applying new digital advances to make shopping more convenient for their customers.

 

Time-Stamped Show Notes:

  • [2:17] Christian Jakobsson, 32 years old and from London, is the Co-Founder of Medino, which is a digital pharmacy in the UK.
  • [6:00] In their second year of operation, they had a revenue of 3.2 million pounds.
  • [8:08] Making every transaction easier for the customer is a big priority for Christian.
  • [10:59] Through a recent round of funding, Medino received about 5.6 million pounds.
  • [11:32] Christian explains why they needed funding from the investors.
  • [19:58] They have their own warehouse in East London, which is quite expensive.
  • [22:47] Simplification of the digital experience, faster delivery, and better pricing is the differentiator of Medino with other pharmaceutical companies.
  • [27:01] Christian describes the layout and workflow of their warehouse.
  • [28:52] The Medino database is hosted by Heroku.
  • [32:35] Being an intern at an advertising agency in the Philippines was a great experience for Christian.
  • [34:09] Christian shares the story of how he ended up in London with the other Co-Founders of Medino.
  • [39:43] When Christian was trying to get a pharmacy license to start Medino, he interviewed a pharmacist who thought they were a scam.
  • [48:09] In the beginning, it was mostly about setting up the warehouse and trying out their system.
  • [55:04] Marketing and recruiting a customer base efficiently were the hurdles they faced in the early years of the company.
  • [59:29] Several strategies were tested to see if the basket size for each customer goes up when they visit the website.
  • [1:04:38] The timing of establishing an online pharmaceutical business is critical according to Christian.
  • [1:09:10] The goal of Medino is to become a household brand name when it comes to online pharmaceutical shopping.

 

This Episode Sponsored By:

  • [13:23] Clear is a secure, identity platform that creates frictionless journeys at airports and beyond. With Clear, all you need is you, after a quick one-time enrollment with a government-issued ID, you can use your face or eyes for safer, touchless entry at airports, stadiums, arenas, conferences, restaurants, and so much more. Right now, for a limited time, you can get your first two months of Clear for free, go to: millionaire-interviews.com/clear and use code millionaire
  • [15:54] Caldera Lab is the only men’s skin care line certified by MADE SAFE, ECOCERT, PETA, and others. Whether you’re tackling dry skin, acne scars, wrinkles, or you just want to invest in healthier skin, this is the product for you. Caldera Lab produces a serum called The Good, which is a non-toxic, natural serum, made 100% from plants. If you want to receive 20% off your first purchase of The Good, then go to millionaire-interviews.com/calderalab and use code Millionaire at checkout.
  • [43:22] Jonathan Cogley of LogicBoost Labs is a startup accelerator that works with startups that are early revenue or pre revenue and they are looking to add two new startups within the next 4 months. If you want to know more about this amazing opportunity, just visit: millionaire-interviews.com/logicboostlabs and sign up for a free mentoring session with Jonathan.
  • [45:04] First impressions are everything, so if you’re looking to make an impact with your online content, you need Issuu, the easiest way to make your creative ideas come to life and share everywhere you want to be seen. Issuu is the best platform to create and distribute beautiful digital content from marketing materials to magazines, to flipbooks and brochures, and more. Get started with Issuu today for free, or if you sign up for premium account, you’ll get 50% off when you go to millionaire-interview.com/issuu and use promo code millionaire at checkout.
  • [1:07:49] Al from Houston, Texas listened to the Charles Bonfiglio episode and he immediately got hooked. He liked it so much that he signed up for the Patreon membership to listen to the continuation episode. If you also want to be a part of our growing Patreon community, sign up at: millionaire-interviews.com/patreon

 

Fabulous 4 Questions:

  1. 📖📚 Favorite Books? Outliers by Malcolm Gladwell, Harry Potter Books by J. K. Rowling
  2. 🙌😎 Favorite Amazon.com purchase? Air Conditioner
  3. 🌱💸 Favorite Tool that's GROWN your Business? Google Sheets in combination with Heroku's dataclips
  4. 💭💡 BIGGEST Challenge keeping your Business from GROWING? When challenging traditional structures, relationship building takes time. And it has to.

 

Key Point from the Interview:

  • “I think that looking at entrepreneurship in general and looking at running your own business, I think that there is so much that you can do on your own, that you don’t need others to help you with, and problem solving and working your way all the way to launching your product, that’s a really exciting journey. So if you’re willing to put on the effort, I really think it’s so rewarding when you start to see how your pulling customers and seeing how these customers enjoy the service, that’s the most fulfilling thing. I really encourage everyone who feels like they have an idea to try to explore it, cos it’s just a really cool experience and so rewarding.”

 

Resources Mentioned:

 

SUBSCRIBE TO THE PODCAST
Want More? Join Our Membership on Patreon!
Become a patron at Patreon!
Tweet
Pin
Share
Share