MyFiziq Limited (ASX:MYQ) – Vlado Bosanac

Vlado Bosanac is the CEO & Co-Founder of MyFiziq Limited (ASX:MYQ) the world leader in mobile phone based human measurements. The company has succeeded where many are trying and have failed. They have developed and patented a unique image capturing and measurement software that you download onto your mobile phone, which can be used when buying the right size clothing online, assessing your risk of chronic disease, seeing if all your hard work in the gym and dieting is paying off, or even when you are wanting to let you’re insurer know how healthy you are to gain the best policy and support coverage.

What’s your journey in becoming a CEO?
I’ve been involved in the capital markets for some 27 years now. Most of those years were spent investing and assisting companies with their capital needs or helping them work their way through their growth and IPO’s. I work for 17 years with my partner Evan Cross getting involved in some amazing opportunities and certainly learning a hell of a lot along the way. In 2014 I had a vision that today has become a reality (MyFiziq Limited). We have developed a unique and required piece of software that allows you to measure yourself using your mobile phone. It started out as an idea with my life partner Dr. Katherine and has evolved into 20+ staff over the past 7 years.

Every day brings challenges as a founder and a CEO. It’s been a lot of fun building the company and the team. I was very fortunate in surrounding myself with a very committed, driven team of people. They love the company as much as I do. I couldn’t have developed this without them. This makes my role as the CEO much easier and allows me to focus on the things I need to do to build the business.

Tell us a bit about your business and how you are commercializing?
MyFiziq has a proprietary image capturing system within a consumer’s smartphone, we empower a consumer with the ability to create accurate measurements of their structure in the form of a 3D avatar with circumference measurements, total body fat and risk assessment. We partner with companies that embed our Software Development Kit’s (SDK’s) into their new or existing applications and then customize the experience to look and feel like the partner company and its branding.

MyFiziq has developed this capability by leveraging the power of Computer Vision, Machine Learning and patented algorithms, to process these images on secure, enterprise-level infrastructure, delivering an end-to-end experience that is unrivaled in the industry.

Our mission is to globalize our technology and assist individuals, communities, and populations to live better healthier lives by working with governments, healthcare providers, health & fitness identities and solutions available worldwide with the data we can provide in the palm of your hand. Our software as a service solution (SAAS) offering allows flexibility and pricing with scale for our partners. MyFiziq partners with highly scaled or scalable new and existing applications and provides them with a deeper insight into the data they wish to retrieve from their users to empower them in their journeys. Some examples of our partners are Floyd Mayweather with his 41m social media followers, Fitocracy one of the US top 5 fitness apps or Wellness companies such as WellteQ in Singapore who support several top 500 companies with their wellness needs.

Our B2B Business Verticals
• Health & Fitness – $700 billion pa
• Insurance Life & Health – $9 Trillion pa
• Telemedicine /Digital Health $350 billion pa
• Online Apparel expected to grow to $765 billion pa by 2022
• Wellness – $85 billion pa

How are you managing with the current COVID-19 pandemic on both business and personal front?
MyFiziq has not seen a decrease in business activity. On the contrary, we have seen an acceleration of existing implementations being brought forward as well as a large volume of new business inquiries. We are in a fortunate position that our business model and growth strategy span multiple industries and business verticals as outlined.
As we are a digital business, our product can be used in the comfort of an individual’s home on their mobile device. People are isolating at home currently, engaging with multiple fitness apps and telehealth platforms. MyFiziq has experienced a surge in new business inquiries for access to the product suite from organizations in health & fitness, home training, gym software, wellness, and the insurance space.

On a personal front, I enjoy what I do and I’m glad I am not sitting around watching our business fall apart with the current pandemic. It’s easy to stay positive when you are busy. Life is never without its challenges and I see this as just another one. I surround myself with great people (socially distant currently) and that way the mojo is always good. I try and stay away from the news as much as I can. I think my work-life balance is in sync at the moment, so I’ll take it!

What’s the most exciting thing about running your business?
I couldn’t really put it down to one thing. Is it that WOW moment you see on someone’s face when you demonstrate our tech? Or is it seeing my team pumped and excited about what they are involved in and creating, or is it the fact we have this market-ready and are now releasing it to the world? (Caveat: this is tech and we are constantly evolving to stay ahead of the curve)

How do you measure success?
I don’t think there is just one measure for success – it is a lot of things. Being happy to get out of bed every morning and get on with my day. That feeling of achievement and a happy hard-working team around you. Customers wanting our technology. Seeing we can solve real problems in so many different use cases around the world. For me, it is what MyFiziq is becoming the balance I have in my personal life, my two amazing daughters, it’s speaking to my shareholders whether they are happy or unhappy and satisfying their concerns if needed.

What do you think is the most important quality of being a CEO of a listed company?
Being confident in your business and projecting that to your staff and potential customers. Being a good mentor to your team. Having the ability to bounce back and pivot. As a CEO you take all the gut punches (which is okay from where I sit) – I’m the one that sold the vision so if someone thinks I’m not delivering, it’s me that needs to stand at the front of it. I get it when the share price isn’t going up all the time or things run late. Shareholders are limited to the news we can provide them, and the ASX is tight on not allowing you to use the platform as a marketing tool. We do so much that wouldn’t be considered material, so we let it build up before we release updates. But I am always happy to speak with my shareholders and welcome their inquiries good or bad.

What is your favorite movie or TV series?
Movies and TV are my escape and dream the dream time. My Favourite is “Wall Street”. This movie set my mind to be the best I could be with the life my mother gave me. I grew up in a broken home and my mother was on a supporting mother’s pension and we lived in government housing. When I was older, I recall looking back at memories and realized there were times she didn’t eat so my brother and I had food in our stomachs. I remember thinking I wanted so much more for my family. This movie set the bar for me that there is no ceiling or floor, the boundaries are in your head.

What message do you want to send to our readership in Asia?
There are a few and like most of the questions, I have added a lot more than was asked, as I want you to get a feel for me and who I am. I’m a dreamer because without dreams there is never creation. The world is, what it is, and we just need to do our best to deal with it sometimes, on a day by day basis. Take on what you can but let yourself be real. Life comes with pressure and expectation; these current times are quite an exception, but we have to deal with it. The great thing about us as humans, is we bounce back. Whilst I acknowledge the extreme situation, we all face currently, it is going to create some amazing opportunities for personal growth and financial growth. Use this time to reset and move forward.

How can people connect with you?
Email:
MyFiziq Website: https://www.myfiziq.com/