• Login
    • Join
  • FOLLOW:
  • Subscribe Free
    • Magazine
    • eNewsletter
    Checkout
    • Magazine
    • News
    • Exclusives
    • Nutraceuticals
    • Markets
    • Health
    • Jobs
    • Events
    • Buyers' Guide
    • Showcases
    • More
  • Magazine
  • News
  • Exclusives
  • Nutraceuticals
  • Markets
  • Health
  • Jobs
  • Events
  • Buyers' Guide
  • Showcases
  • Current & Past Issues
    Features
    Columns
    Editorials
    Digital Edition
    Subscribe Now
    Advertise Now
    eNewsletter
    Editorial Guidelines
    Top Features
    Health Products Association - China Executive Director Reflects on Market Dynamics, Challenges

    Blood Sugar Management: Personalized Testing Drives Home The Need for Early Intervention

    New and Evolving Formulation Options Must Be Mindful of Blood Sugar Maintenance

    Tapping Functional Beverages to Meet Modern Wellness Needs

    Adaptogens: Where Ancient Remedies Meet Modern Wellness Products
    Breaking News
    Certifications, Approvals and Patents
    Exclusives
    Industry & Market News
    People
    Products
    Regulatory
    Research
    Supplier News
    Supplier Insights
    Live From Shows
    Top News
    Florida Food Products Acquires Javo

    Roquette Launches Nutralys Rice Protein

    New IADSA Chair Lauds Explorations of Supplementation in Healthcare Policy

    CTRL Launches Meal On-The-Go Bars

    GNC and RealEats Meal Delivery Partnership Expands Nationally
    Exclusives
    Blogs & Guest Articles
    Health E-Insights
    Area Code 420
    eBook
    Antioxidants
    Dairy-Based Ingredients
    Enzymes
    Fatty Acids
    Fiber & Carbohydrates
    Green Foods
    Herbs & Botanicals
    Marine Nutraceuticals
    Minerals
    Omega 3s
    Probiotics & Prebiotics
    Proteins, Peptides, Amino Acids
    Sweeteners
    Vitamins

    Roquette Launches Nutralys Rice Protein

    Upcycled Coffeeberry® Cascara Offers Versatility in Functional Beverage Development

    Study Reveals Low Intake of Tocotrienols in Polish Population

    Combination of Collagen and Boswellia Serrata Shown to Reduce Joint Discomfort

    Nutralliance Adds Eggshell-Derived Ingredients for Beauty and Joint Health to Portfolio
    Consumer Trends
    Contract Manufacturing
    Cosmeceuticals / Nutricosmetics
    Delivery & Dosage Technologies
    Dietary Supplements
    Flavors & Colors
    Functional Foods & Beverages
    Healthcare Trends
    Medical Nutrition
    Mergers & Acquisitions
    Natural/Organic
    Nutrition Bars
    Packaging
    Pet Nutraceuticals
    Quality & Safety
    Regulations
    Research
    Testing
    World Markets

    Florida Food Products Acquires Javo

    Roquette Launches Nutralys Rice Protein

    New IADSA Chair Lauds Explorations of Supplementation in Healthcare Policy

    CTRL Launches Meal On-The-Go Bars

    Upcycled Coffeeberry® Cascara Offers Versatility in Functional Beverage Development
    Bone & Joint Health
    Cancer Risk
    Cardiovascular Health
    Cognitive Function
    Diabetes & Blood Sugar Management
    Digestive Health
    Energy
    Eye Health
    Healthy Aging
    Immune Function
    Infant & Children's Health
    Inflammation
    Men's Health
    Mood Health & Sleep
    Oral Health
    Sexual & Reproductive Health
    Skin Health
    Sports Nutrition
    Weight Management/Weight Loss
    Women's Health

    Upcycled Coffeeberry® Cascara Offers Versatility in Functional Beverage Development

    Botanical Gum for Kids Aims to Curb Sugar Cravings

    Combination of Collagen and Boswellia Serrata Shown to Reduce Joint Discomfort

    Childhood Fitness and Obesity Impact Cognition Later in Life, Study Finds

    Nutralliance Adds Eggshell-Derived Ingredients for Beauty and Joint Health to Portfolio
    Industry Events
    Live From Show Events
    Webinars
    All Companies
    Categories
    Trade Associations
    Company Capabilities
    International Buyers Guide Companies
    Nutrition21, LLC

    Aiya America, Inc. (Aiya Matcha)

    Xsto Solutions

    PhytoGaia Inc

    Ecuadorian Rainforest
    Companies
    Product Releases
    News Releases
    Literature / Brochures
    White Papers
    Jobs
    VIdeos
    Services
    Add New Company
    International Buyers Guide Companies
    Nutrition21, LLC

    Aiya America, Inc. (Aiya Matcha)

    Xsto Solutions

    PhytoGaia Inc

    Ecuadorian Rainforest
    • Magazine
      • Current / Back Issue
      • Features
      • Editorial
      • Columns
      • Digital Edition
      • eNewsletter Archive
      • Editorial Guidelines
      • Subscribe Now
      • Advertise Now
    • Breaking News
    • Buyers' Guide
      • All Companies
      • Categories
      • Trade Associations
      • Company Capabilities
    • Nutraceuticals
      • Antioxidants
      • Dairy-Based Ingredients
      • Enzymes
      • Fatty Acids
      • Fiber & Carbohydrates
      • Green Foods
      • Herbs & Botanicals
      • Marine Nutraceuticals
      • Minerals
      • Omega 3s
      • Probiotics & Prebiotics
      • Proteins, Peptides, Amino Acids
      • Sweeteners
      • Vitamins
    • Markets
      • Consumer Trends
      • Contract Manufacturing
      • Cosmeceuticals / Nutricosmetics
      • Delivery & Dosage Technologies
      • Dietary Supplements
      • Flavors & Colors
      • Functional Foods & Beverages
      • Healthcare Trends
      • Medical Nutrition
      • Mergers & Acquisitions
      • Natural/Organic
      • Nutrition Bars
      • Packaging
      • Pet Nutraceuticals
      • Quality & Safety
      • Regulations
      • Research
      • Testing
      • World Markets
    • Health
      • Bone & Joint Health
      • Cancer Risk
      • Cardiovascular Health
      • Cognitive Function
      • Diabetes & Blood Sugar Management
      • Digestive Health
      • Energy
      • Eye Health
      • Healthy Aging
      • Immune Function
      • Infant & Children's Health
      • Inflammation
      • Men's Health
      • Mood Health & Sleep
      • Oral Health
      • Sexual & Reproductive Health
      • Skin Health
      • Sports Nutrition
      • Weight Management/Weight Loss
      • Women's Health
    • Online Exclusives
    • Webinars
    • Slideshows
    • Blogs & Guest Articles
    • Health E-Insights
    • Videos
    • Podcasts
    • Infographics
    • eBook
    • Whitepapers
    • Research
      • TrendSense
      • Monograph Center
      • White Papers
      • Research News
    • Jobs
    • Events
      • Industry Events
      • Live From Show Events
      • Webinars
    • Supplier Showcases
      • Companies
      • Product Releases
      • News Releases
      • Literature / Brochures
      • White Papers
      • Jobs
      • VIdeos
      • Services
    • About Us
      • About Us
      • Contact Us
      • Advertise With Us
      • Privacy Policy
      • Terms of Use
    Features

    Four Steps Budding Entrepreneurs Need to Take When Starting a Health and Wellness Company

    Always remember what drives you, and why you care about your pursuits.

    Four Steps Budding Entrepreneurs Need to Take When Starting a Health and Wellness Company
    Related CONTENT
    • Florida Food Products Acquires Javo
    • GNC and RealEats Meal Delivery Partnership Expands Nationally
    • Jamieson Wellness to Acquire Nutrawise Health & Wellness Beauty Corporation
    • Kemin Launches Luxiva Hemp CBD Distillates
    • Poison Control Center Reports of Kids Ingesting Melatonin Rise by 530% Since 2012
    By Vincent Tricarico, Executive Vice President, Twinlab Consolidation Corporation & NutraScience Labs05.03.21
    Business is booming within the health and wellness industry, especially in the U.S., where it’s valued at a robust $52.5 billion—the world’s biggest market size. Although it’s a competitive field, there is still high consumer demand, so now’s the time to get in. But how do you get started? Just as with any business, there are four must-do steps every entrepreneur needs to take that could make or break a new business.

    Everything needs to be in sync for the project to work, from distribution, marketing, legal matters, customer service, financial planning, and your sales process. Getting all of these details to align isn’t an easy task, but it can be done if planned and implemented strategically.

    1. Create Your Concept & Write Your Plan
    It doesn’t need to be perfect; you just need something to keep you focused. It starts with finding your passion—the number one ingredient in any successful business, but especially one where you will be offering a message of health and vitality. If you aren’t passionate about the driving force of your business, how will any investor, customer, employee, or vendor be passionate about it?

    Ask yourself if your concept is sustainable and scalable. Does your idea have legs? Will it survive the ups and downs of entrepreneurship? Your concept needs to play to your strengths and focus on where you can outperform your competition.

    Focus on the white space, the place where customers’ needs aren’t being met, and figure out how you can fill it in. The nutraceutical industry has a lot of white space that’s always evolving. Create your story in the space you feel most confident you can win in.

    Remember the four Ps (product, place, price, and promotion), but don’t forget about two additional Ps (plan and pivot). The health and wellness space is fast-moving; even the best-laid plans of an entrepreneur will need the flexibility and ability to pivot as market conditions and customer behavior dictates.

    Finally, remember your “why.”  You need to know what is driving you, why you care about your pursuit and how you communicate it. Health and wellness is an industry that requires personal connection; our “why” grounds us to focus on why we do what we do every day. Stay disciplined enough to try to be something to someone, not everything to no one.

    2. Do Your Research
    Understand ingredients, know the relevant clinical data and research effectiveness when developing your product. This is particularly important in the dietary supplement space because consumers demand it.

    Today’s consumers of health and wellness products are more knowledgeable than ever before. They are holding brands to greater accountability standards for ingredients, packaging, sustainability, and impacts on communities. They are looking for simple, effective products that provide a real benefit. The days of stuffing labels with dozens of ingredients are long gone.

    Do your homework on vendor partnerships in all areas of your business. Look for experienced partners who can provide outstanding and consistent service to your business. The cheapest option isn’t always the best, and neither is the most expensive. Do your research and ask questions.

    Another important piece of the puzzle is deciding on your customer acquisition model. There are some great options out there, including pay-per-click, blogging, media buying, setting up a brick-and-mortar store, direct sales, launching your website, or selling your supplements on popular online marketplaces like Amazon and at trade shows. Thoroughly investigate the models and find the one you can work with best. You can always try one option and if it doesn’t work for you, just try another. You’ll find that one or a handful of these tactics help you sell more products than the others.

    3. Connect
    Know your customer, interact with them, and listen to them. Stick to what resonates with your audience. The health and wellness space is big and bold. Find your niche and be relentless in how you cater to them.

    Be strategic in building your social media followership. It’s better to have 1,000 followers who are engaged customers than 100,000 followers who never buy. Give consumers a reason to engage in the community you build around your brand. Health and wellness products are sold by personal connection so bring as much of you into your brand as possible. Create blog content that speaks to your customer base. Become a trusted source of information and pursue how you create value for your consumer.

    Offering creative promotions is a massive component of health and wellness sales. Always know if your offer is better than your competition’s.

    Attend networking events either online or in-person when COVID-19 restrictions ease. You can learn so much from others and can create powerful connections that can help your business move forward.

    4. Build Your Team
    Establish your company’s key values and then build a team that complements those values. Your values will help guide you through the hiring process. Building your company’s culture around those values and recruiting a team that embraces them will positively affect all aspects of your business. So, using creative features like team building and performance incentives will keep your employees motivated and help you retain quality talent.

    Now ... Just Do It!
    Be a fearless decision-maker. Be tireless in the execution of your plan. Focus on delivering what your brand and product promise. Focus on what is in your control. Be demanding of yourself; it will reflect in the positive on your customer. Capture meaningful data points, evaluate, adjust, and keep going. Above all, always remember your  “why.” 


    With 21 years of direct-to-consumer and business-to-business experience, Vincent Tricarico is a respected executive in the dietary supplement industry and is well known for his ability to consistently build and grow successful teams that produce results. He currently serves as Executive Vice President for Twinlab Consolidation Corporation and NutraScience Labs, where he oversees sales, marketing, and operations. For more information: 855-492-7388.
    Suggested For You
    Florida Food Products Acquires Javo Florida Food Products Acquires Javo
    GNC and RealEats Meal Delivery Partnership Expands Nationally GNC and RealEats Meal Delivery Partnership Expands Nationally
    Jamieson Wellness to Acquire Nutrawise Health & Wellness Beauty Corporation Jamieson Wellness to Acquire Nutrawise Health & Wellness Beauty Corporation
    Kemin Launches Luxiva Hemp CBD Distillates Kemin Launches Luxiva Hemp CBD Distillates
    Poison Control Center Reports of Kids Ingesting Melatonin Rise by 530% Since 2012 Poison Control Center Reports of Kids Ingesting Melatonin Rise by 530% Since 2012
    Global Innovation Tracker Marks Return of ‘What’s Next’ Research Treks Global Innovation Tracker Marks Return of ‘What’s Next’ Research Treks
    Unilever to Acquire Majority Stake in Hair Supplement Brand Nutrafol Unilever to Acquire Majority Stake in Hair Supplement Brand Nutrafol
    GNC Completes New Global Headquarters GNC Completes New Global Headquarters
    Puritan’s Pride Launches Personalized Vitamin Packs Puritan’s Pride Launches Personalized Vitamin Packs
    PLT Health Solutions Appoints Dawna Salter-Farfan as Senior Manager of Clinical Research PLT Health Solutions Appoints Dawna Salter-Farfan as Senior Manager of Clinical Research
    Dietary Supplements Are Regulated, and Chronic Stress Has Been Normalized Dietary Supplements Are Regulated, and Chronic Stress Has Been Normalized
    Tapping Functional Beverages to Meet Modern Wellness Needs Tapping Functional Beverages to Meet Modern Wellness Needs
    Adaptogens: Where Ancient Remedies Meet Modern Wellness Products Adaptogens: Where Ancient Remedies Meet Modern Wellness Products
    ‘You Are What You Eat’ (Chapter 2): Nutrigenetics & Nutrigenomics ‘You Are What You Eat’ (Chapter 2): Nutrigenetics & Nutrigenomics
    DSM and Firmenich to Merge to Create Nutrition, Beauty, and Wellness Brand DSM and Firmenich to Merge to Create Nutrition, Beauty, and Wellness Brand

    Related Breaking News

    • Breaking News | Functional Foods & Beverages | Mergers & Acquisitions | Supplier News
      Florida Food Products Acquires Javo

      Florida Food Products Acquires Javo

      The acquisition of the clean label coffee, tea, and botanicals specialist will diversify FFP’s portfolio of natural ingredients and products.
      06.23.22

    • Breaking News | Industry & Market News
      GNC and RealEats Meal Delivery Partnership Expands Nationally

      GNC and RealEats Meal Delivery Partnership Expands Nationally

      The program, which was piloted in 2021, will provide consumers with personalized nutritious meals.
      06.22.22

    • Breaking News | Dietary Supplements | Industry & Market News | Mergers & Acquisitions
      Jamieson Wellness to Acquire Nutrawise Health & Wellness Beauty Corporation

      Jamieson Wellness to Acquire Nutrawise Health & Wellness Beauty Corporation

      The company agreed to acquire the owner of the brand Youtheory for $265 million.
      06.20.22


    • Breaking News | Herbs & Botanicals | Supplier News
      Kemin Launches Luxiva Hemp CBD Distillates

      Kemin Launches Luxiva Hemp CBD Distillates

      The ingredient supplier expanded its hemp portfolio with a line of organic distillates at varying potencies.
      06.15.22

    • Infant & Children's Health | Quality & Safety
      Poison Control Center Reports of Kids Ingesting Melatonin Rise by 530% Since 2012

      Poison Control Center Reports of Kids Ingesting Melatonin Rise by 530% Since 2012

      While 1.6% of cases involved serious outcomes, the data gathered by these reports was limited and lacked medical data.
      By Mike Montemarano, Associate Editor 06.10.22

    Trending
    • Three Grams Of Omega-3s May Be Optimal Dose For Reducing Blood Pressure
    • 3 grams of Omega-3s May be Optimal Dose for Reducing Blood Pressu
    • Olive/Pomegranate Extract May Improve Dyslipidemia
    Breaking News
    • Florida Food Products Acquires Javo
    • Roquette Launches Nutralys Rice Protein
    • New IADSA Chair Lauds Explorations of Supplementation in Healthcare Policy
    • CTRL Launches Meal On-The-Go Bars
    • GNC and RealEats Meal Delivery Partnership Expands Nationally
    View Breaking News >
    CURRENT ISSUE

    June 2022

    • Tapping Functional Beverages to Meet Modern Wellness Needs
    • Adaptogens: Where Ancient Remedies Meet Modern Wellness Products
    • New and Evolving Formulation Options Must Be Mindful of Blood Sugar Maintenance
    • Health Products Association - China Executive Director Reflects on Market Dynamics, Challenges
    • Blood Sugar Management: Personalized Testing Drives Home The Need for Early Intervention
    • View More >

    Cookies help us to provide you with an excellent service. By using our website, you declare yourself in agreement with our use of cookies.
    You can obtain detailed information about the use of cookies on our website by clicking on "More information”.

    • About Us
    • Privacy Policy
    • Terms And Conditions
    • Contact Us

    follow us

    Subscribe
    Nutraceuticals World

    Latest Breaking News From Nutraceuticals World

    Florida Food Products Acquires Javo
    Roquette Launches Nutralys Rice Protein
    New IADSA Chair Lauds Explorations of Supplementation in Healthcare Policy
    Coatings World

    Latest Breaking News From Coatings World

    The Southern Society for Coatings Technology's 84th Annual Technical Conference A Success
    PPG to Showcase Specialty Automotive, Aerospace Adhesives, Sealants at Adhesives & Bonding Expo
    PPG’s New Paint for a New Start Initiative to Transform 25-plus Schools Worldwide
    Medical Product Outsourcing

    Latest Breaking News From Medical Product Outsourcing

    MPO's Most Read Stories This Week—June 25
    Magnetic Insight Announces $17 Million in Series B Funding
    BreatheSuite Adds Brad Fluegel to its Board
    Contract Pharma

    Latest Breaking News From Contract Pharma

    Pierre Fabre and Lonza Enter Manufacturing Agreement
    MasterControl and Elemental Machines Form Biomanufacturing Partnership
    Qosina Strengthens Aseptic Capabilities
    Beauty Packaging

    Latest Breaking News From Beauty Packaging

    Benefit Exec Joins Madison Reed's Board
    Peroni & Ellis Brooklyn Launch Fragrance Collection Inspired by Italian Spritz Cocktails
    Rhode Is Trending for June, Trendalytics Says
    Happi

    Latest Breaking News From Happi

    A Suitor Emerges for Revlon, SK Capital’s New Dealmaker & P&G’s Indoor Air Quality Efforts
    Wonder Curl Wins GlossWire's GlossPitch Competition
    Anti-aging Skincare Brand Vitabrid C12 Launches Bestsellers on Amazon
    Ink World

    Latest Breaking News From Ink World

    Weekly Recap: INX’s VC Fund, Screen Industry and Ball Top This Week’s News
    British Coatings Federation Posts Online History
    Orion Announces Price Increases, Reduced Payment Terms
    Label & Narrow Web

    Latest Breaking News From Label & Narrow Web

    PCMC teams with IGT, Fujifilm makes big announcement and more
    Loftware recognized as 'AIDC Company of the Year'
    Schreiner MediPharm highlights sustainability of Needle-Trap technology
    Nonwovens Industry

    Latest Breaking News From Nonwovens Industry

    Tranzonic Names VP of Supply Chain
    Ontex Climate Action Targets Approved by Science-Based Targets Initiative
    Suominen Test Center Assesses Biodegradability of Nonwovens
    Orthopedic Design & Technology

    Latest Breaking News From Orthopedic Design & Technology

    ODT's Most-Read Stories This Week—June 25
    3Spine Inc. Receives IDE Approval for U.S. Pivotal Clinical Trial
    Volume-Based Procurement to Reduce Chinese Orthopedic Market Value
    Printed Electronics Now

    Latest Breaking News From Printed Electronics Now

    Weekly Recap: eMagin, Applied Materials, and Schott Top This Week’s Stories
    NREL Names Jennifer Logan to Leadership Team as CFO
    National Grid Renewables Orders 2 GW of First Solar Modules

    Copyright © 2022 Rodman Media. All rights reserved. Use of this constitutes acceptance of our privacy policy The material on this site may not be reproduced, distributed, transmitted, or otherwise used, except with the prior written permission of Rodman Media.

    AD BLOCKER DETECTED

    Our website is made possible by displaying online advertisements to our visitors.
    Please consider supporting us by disabling your ad blocker.


    FREE SUBSCRIPTION Already a subscriber? Login