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Sokratis Papafloratos: Overcoming failure to transform men's healthcare

Sokratis Papafloratos: Overcoming failure to transform men's healthcare

The Business Leader Podcast vor 2 Jahren

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40:08

If you haven’t heard of disruptive men’s health brand Numan, it’s
time to start taking notice. Since its launch in 2018, the
company has helped 430,000 men maximise their health.

Having raised over $75m (£61.2m) in funding and boosting a team
of over 150 people, the company offers personalised, integrated
care in one digital platform and is the brainchild of serial
entrepreneur Sokratis Papafloratos.

We spoke to Sokratis about learning from a severe business
failure, the key belief you need to look out for in an investor,
and much more.

Here's what we discussed:

Could you give us an overview of your career? (00:22)

When you came to the UK in 1997, was the plan always to get
into business? (02:36)

Would you call yourself a good employee? (04:00)

You sold TrustedPlaces to Yell after four years. Did you
scale the company for acquisition, or did you get an offer you
couldn’t refuse? (05:33)

What lessons did you learn from the sale that you applied to
your next business ventures? (08:51)

After TrustedPlaces, you launched Togethera and Upshot but
decided to shut the business down after a few years. You were 36
at the time and had already been through a lot in business, but
did you go through any trepidation or self-doubt? (10:08)

Sticking with closing down Togethera and Upshot, some people
try to raise funds to get out of the hole and some call it a day
at the right time. Where would you class yourself on that
spectrum? (17:11)

Onto Numan – you need funding to pull off this brilliant
vision you have. You’re not a healthcare expert, but you do have
experience in successful businesses. Do investors prioritise
experience and vision over expertise? (20:20)

You are an angel investor yourself. How much does receiving
pitches from people change your thinking when preparing to pitch
to someone else? (26:00)

Could you tell us about the funding journey with Numan?
(27:47)

How have you found the experience of hiring people to help
you scale Numan? (31:22)

Could you tell us about Numan's marketing strategy? (33:57)

What does the future hold for Numan? (35:45)

The Good News Postcard: What superhero would you be and why?
(37:27)

What makes a great business leader? (38:32)

Thanks to Ella from the Jill Dando News for bringing us The Good
News Postcard this week. Get your dose of positive news by
visiting The Good News Post, a website collated by hundreds of
young people aged 8 to 18 in the UK. They've written real-life
“news that’s good for you”, covering people, animals, stories to
cheer people up, and tips to make lives better.

Be sure to subscribe to the podcast and the Business Leader
YouTube channel for more interviews with some of the world’s
leading business figures.

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