Here are the 8 key business trends affecting us all today:
1. Global marketplace gets personal
To take advantage of this you will need to excel at producing specialized products and services to meet the personalization demands of customers. This means catering to your target audience with specific language and location-based features like Viewsy, a location analytics solution for the physical stores to better understand their foot traffic.
2. The rise of the entrepreneur
Small businesses are already taking advantage of web and mobile technologies that allow them to take on the corporate giants, with customers no longer knowing, or even caring about the size of the firm that provides their goods and services.
3. Virtual workforces explode
We have already shifted towards a flexible, on-demand workforce that enables businesses of all sizes to get more done with less. This mobile and virtual workforce can scale according to your needs and demands.
4. Mobile domination is calling
As technology prices fall, the adoption of sophisticated mobile technologies will continue to permeate our everyday lives. In time, smartphones will replace or bypass desktops and laptops and will emerge as the new standard for both businesses and consumers.
5. Consumers are the new CEOs
From our reliance on (and increasing addiction to) mobiles, and with smartphones becoming smarter, our ability to have real influence as consumers grows. We can make more informed decisions about what we purchase and why.
6. Social is your business foundation
Social media has transformed the way we market, sell and serve our customers. Platforms like Facebook, YouTube and Google Plus have made this consumer power even more possible.
7. Digital currency is king
It’s becoming easier and more accessible to do online banking and to make mobile payments. Digital wallets like Google Wallet and smartphone apps from major banks are opening the door for us to manage our finances from anywhere and to make payments from anywhere. As consumers become more trusting, we will find ourselves in an increasingly cashless society, turning to tools like Trustev. This is a real-time, online verification for shopping online that uses social fingerprinting technology to create a real and visible relationship between consumer and retailer.
8. Crowdfunding is the new angel investor
You don’t need to hit up investors anymore and give away large chunks of control of your company, instead you just need to turn to one of over 500 crowd funding sites to finance your dreams. In fact, it’s such an important trend, that I wrote a book on it: How to Fund Your Dream Idea on Kickstarter.
“It’s not about how you work 10 times harder. It’s about how you work 10 times smarter and everything to do with how you find a wave that’s 10 times bigger. It doesn’t matter what kind of business you’re in, there’s going to be a way for you to leverage waves.” ~ Roger Hamilton, author of Fast Forward Your Business. The trick to taking advantage of these “waves” is to pick the ones you can ride most effectively. Imagine you’re a surfer. You want to catch these waves early and then ride them all the way to the beach. But first you need to learn how to catch the wave and get up on the board. So let’s start paddling.
The Suitcase Entrepreneur: Create freedom in business and adventure in life
“We all are learning, modifying, or destroying ideas all the time. Rapid destruction of your ideas when the time is right is one of the most valuable qualities you can acquire. You must force yourself to consider arguments on the other side.
— Charles T. Munger”
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Disclosure of Material Connection:
Some of the links in the post above are “affiliate links.” This means if you click on the link and purchase the item, I will receive an affiliate commission. Regardless, I only recommend products or services I use personally and believe will add value to my readers. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”