NS499

 Relationships are key  Why are relationships so important in a business?  Give an example of why relationships would be important for a nutrition professional?

 Stage 1: INFANCY  New, emerging trend (wellness)  Stage 2: GROWTH  Idea or product becomes popular  Other copy/improve on the idea  Stage 3: MATURE  Saturation becomes a problem  Sales are high but growth begins to decline  Stage 4: DECLINE  Target market decline  Most people who demanded the product/service have purchased it

 What options are available at stage 4?  Are there any nutrition products or services that you think have are approaching stage 4?

 Planning  Goal Setting  Specific, Measurable, and Time Limiting  Decision maker  Delegation  Support  Communication  Controlling the plan

 If the product is not unique, don’t spend money to develop it.  Similar product = price competition  Unique = profit  Be simple in your description and packaging  Don’t bet the ranch  Test Markets

 Includes being well-established and have stable clientele  Keys to prosperity  Save a % of your income-pay yourself before you pay your bills  Invest in assets first that grow in value (stocks, bond, real estate vs. fancy cars and toys  Don’t live on credit cards so that the bulk of your bills are collected interest  Don’t buy assets until you can afford them

 You become emotionally detached  Struggling to pay bills  Marked increase in customer complaints or decreased market  In denial about how bad things really are

 Perceptions others have about you, they believe you or trust you  3 sources of power that lead to credibility  What are these powers?

 Position power  Cultural power  Personal power

 Honesty  Generates confidence, people listen to what you have to say rather than try to figure out your motives  Responsiveness  Actions/promises are kept  Consistency or Reliability  You are dependable, present, and available  Forethought  Make sense, ideas are research based and logical  You know what you are talking about

 Can you name one example from the text that credibility should not be confused with?

 A new invention or insight, or the ability to overcome obstacles by approaching them in novels ways  Creative people are good problem solvers because they look at all sides before deciding on a solution

 Ideas “happen over night”  Lifelong creativity  Always accepting to new, novel ideas  Creative ideas are always original works  Creativity is often the ability to do something common in a new way  Don’t have to reinvent the wheel

 Brainstorming  Putting all ideas on the table  No criticism allowed  Quantity is encouraged  No critiquing takes place until all ideas are generated  Critical thinking  Critical judgment or evaluation of each ideas upon conception

 Don’t worry  Trust your gut  Focus on the desired outcome  Think of several solutions  Talk with an outsider  Don’t just stand there, do something

 Every business faces problems and indecision  A successful business  Learns to solve problems  Comes up with new options  React quickly to situations that need feedback quickly