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#1 Nootropics
The Highline Podcast: Episode 1
Miles Galli
October 04, 2023
GM. Welcome to The Highline - Spotting Opportunities in High-Growth Markets.
Fitness Influencers, I hope you are Reading!
Podcast Link: https://open.spotify.com/show/2gwZ88PmWkzDW9dC9bosy1
Top Ideas From The Podcast:
Why The Nootropic Market is Growing Like Crazy?
What is Compelling about Nootropic Customers for Consumers?
My Top Idea
Min Bit ( New Thought I am Pondering)
What I Read This Week
Ever heard the Alpha Brain advertisement on JRE? 8
The Onnit Odyssey: Tracing the Nootropic Trail from $80,000 to $400M
From a humble beginning with just $80,000, Onnit emerged as a pioneer in the nootropic realm. Fast forward to 2022, and Unilever swept it up for a staggering sum of between $100-400 million. This isn’t just a success story; it’s a testament to the boundless potential nested within the nootropic market.
The Nootropic Market is Growing at 15% Y.o.Y til 2023
Nootropics are experiencing huge market demand due to their ability to increase performance, concentration, reduce anxiety and improve overall mental health.
The capsules/tablets segment currently captures 45% of market demand. The Nootropic drinks segment is the fastest-growing drink segment, predicted to grow 16% from 2021 to 2028.
Why Are Nootropic Products Compelling?
Have you ever felt inspired to elevate your performance after watching shows like Drive to Survive or The Last Dance? That's where nootropic products come in, aiding in boosting your concentration and helping you reach that state of 'complete focus' or 'the zone'. These shows spotlight top athletes' prowess, nudging viewers to aspire for similar excellence in their own endeavours. This aspiration, driven by a desire to emulate peak performance, is a key factor propelling the market growth of nootropic products.
My Top Idea From The Podcast: The Costco Model Applied to Supplements
In the recent podcast episode, an intriguing concept emerged: adapting the Costco business model to the world of supplements. The core idea revolves around shifting the revenue model from product markups to a membership-based system.
Here’s how it could work:
Cost-Based Pricing: Instead of selling supplements with a high markup, sell them at cost to members. This approach could potentially attract a loyal customer base seeking fair pricing.
Membership Fees: Generate revenue through a membership fee. Members could enjoy not only cost-price supplements but also gain access to additional perks.
This solves the challenge of the expensive cost of supplements and will encourage customers to purchase supplements in more frequent intervals rather then sporadically.
(MiniBit) How to Hire For The Killer Gene
The ability to strategise, execute plans, and adapt to challenges is often referred to as the "killer gene" by top performers and business people. However, the term is often loosely defined. This trait embodies the capability to push through setbacks, devise new problem-solving strategies, and relentlessly pursue goals —
The Killer gene is the most critical gene for salespeople, yet few companies know what to look for due to a narrow focus on conventional work experiences. It's crucial to broaden the evaluation lens:
Look Beyond the Resume: Seek evidence of resilience and execution excellence in various aspects of a candidate's life, not just in a work context.
Behavioural Interviewing: Pose scenarios that prompt candidates to share how they navigated challenges, adjusted strategies, and achieved their goals.
Assess Problem-Solving Skills: Provide real-world problems during the interview to observe their strategic thinking and execution ability in action.
Individuals possessing this 'killer gene' are relentless toward achieving their objectives, making them invaluable assets to your sales force.
