The Wellness Revolution
Here are some excerpts (you can find it on amazon.com).
“We are now at the very beginning of the next trillion dollar industry – an industry that will impact almost every aspect of our lives and achieve $1 trillion in sales within 10 years, but one that is as unknown today as the automobile industry was in 1908 or the personal computer was in 1981.”
“Approximately one-seventh of the U.S. economy, about $1.5 trillion, is devoted to what is erroneously called the ‘healthcare’ business. Healthcare is a misnomer, as this one-seventh of the economy is really devoted to the sickness business….”
“The sickness business is reactive. Despite its enormous size, people become customers only when they are stricken by and react to a specific condition or ailment.”
“The wellness business is proactive. People voluntarily become customers – to feel healthier, to reduce the effects of aging, and to avoid becoming customers of the sickness business. Everyone wants to be a customer of this earlier-stage approach to health.”
“I was very surprised to find that sales have already reached approximately $200 billion – including $70 billion for vitamins and $24 billion for fitness clubs – and yet only a small percentage of the population even know about wellness. Imagine what will happen as more people understand the potential that wellness can add to the quality and longevity of their lives!”
“Most of the one-seventh of the U.S. adult population that work in the healthcare industry today focus on treating the symptoms of disease rather than on preventing disease. This is because it is more profitable for medical companies to research and develop products that create customers for life.”
“As with automobiles in 1908 and personal computers in 1981, the best new products and services are still in the laboratory and will be coming onto the market in the next few years.” (this book was published in 2002)
“In any industry based on new technology, the greatest entrepreneurial fortunes are consistently made by those who distribute products and services rather than by those who make them.”
“Experienced entrepreneurs and investors look for all five of the following characteristics to be present before they launch a new mass-market business: (1) affordability, (2) legs, (3) continual consumption, (4) universal appeal, and (5) low consumption time.”
“Wellness industry products and services have perhaps the strongest legs of any product or service, as people immediately notice when someone has a wellness experience and anxious to duplicate their results.”
“Wellness products and services represent perhaps the only sector of consumer spending that does not take time to enjoy. Money spent to make a person feel stronger, smile better, look younger, or feel healthier yield rewards that are enjoyed every moment of every day – on the job, at home, and at every moment in between.”