For anyone who still thinks menopause is a forbidden topic, today’s episode breaks right through that barrier. Dr. Alyssa and Rachel talking facts and welcoming insights from Mike Satow, president and CEO of Bonafide, a data-driven supplement company “on a mission to provide naturally effective solutions to perfectly natural symptoms.” Focused on women’s sexual and reproductive health, the company had a banner year in 2020 with more good things on tap for the year ahead. How Mike went from practicing law to becoming a serial entrepreneur in the health and wellness space makes for an interesting tale.
And, of course, the hosts and their guest touch on all the menopause-related topics that impact such a huge and growing number of women throughout the United States: from the hormonal fluctuations that “affect every cell in our body,” as Dr. Alyssa says, to the very real fears and concerns many women harbor about the use of hormone replacement therapy. Mike explains how Bonafide has developed its unique formulations as well as the data the company provides the doctors with whom they partner to reach sufferers seeking relief. His business model is working, with more than 8,000 physicians actively recommending Bonafide products to patients and more than $30 million in sales in 2020.
The episode wraps with a Hot Flash you won’t want to miss related to the huge incidence of sexual dysfunction among women in this country before, and especially after, the onset of menopause.
Watch the Interview with Bonfide Health CEO, Mike Satow
TOPICS COVERED:
- How Mike went a legal career to nutritional supplements and women’s health.
- Demographic facts and stats: significantly increased numbers of women in menopause and decreased numbers taking hormone replacement therapy.
- HRT: Distrust and concern about side effects and supplemental alternatives.
- Mike introduces Bonafide’s non-drug options for vaginal dryness, libido and other areas impacted (and go unaddressed because of stigma).
- Why Mike gravitated to women’s health. (Hint: He’s interested in spaces that have been neglected and offer opportunity.)
- Bonafide’s business model, how it attracts customers and grows market share.
- Impacts of Covid19 on Bonafide’s sales and outreach (and people’s sex lives).
- Products in the Bonafide pipeline, including the launch of a probiotic for vaginal health and the possibility of retail marketing.
- HOTFLASH: The incidence of sexual dysfunction among women in the U.S. is 25%-63% — and that’s just the women admitting a problem. The numbers and factors impacting sexual health increase as a result of menopausal changes.
QUOTES:
02:53: “Most of the time I have been focused (as an entrepreneur) on areas where there is a significant amount of opportunity and real unmet needs but solutions are not available. Women’s health is unfortunately an example of that.”
04:31: “We are trying to bring options to women that they don’t currently have.”
07:26: “The more options there are that are valid for women the better. We’re trying to offer high quality options that we think work very well.”
09:56: “The actual impact and symptoms that we are trying to address are the most important thing.”
12:02: “The important thing is to keep quality in mind and … add to the innovation.”
13:42: “We’re not compensating physicians making these recommendations. They’re really based purely on the appropriateness for the patient and strength of the data.”
14:59: “If you’re launching to physicians, you really have to look at it and say, ‘Is this data good enough that a doctor is going to recommend this supplement to their patients.’ It has to be very strong data.”
17:10: “The move to self-care and really trying to take care of yourself during these very difficult times is even more important. To not suffer through things that impact the quality of life. It’s even more important for women to feel their best.”
19:51: “Given the stigma, it’s really important that there is more conversation.”
About Mike Satow:
Mike is an experienced entrepreneur focused on the intersection of nutrition, pharmaceuticals and e-commerce. A graduated of Columbia University with a law degree from Georgetown University, he is Co-founder and CEO of Bonafide Health as well as CEO of Nutrition 21.
CONTACT MIKE:
Bonafide: www.hellobonafide.com
Nutrition 21: www.nutrition21.com