This course was created by EntrepreneurNOW. We are please to offer this training in our library.
- How trends are different from fads
- Why fads make a shaky business foundation
- Researching trends for your industry
- Mega-trends affecting global business today
- Identifying trends that impact your business
Skill Level Beginner
- So having a business that capitalizes on trends is like kind of having the wind at your back. It makes things so much easier and that's really what you want. You want something that can be on-trend that's going to make your life a whole lot easier, especially when you're getting started as a new business, right? Let me give you an example of mobile. Mobile is everything right now, it's all the rage and the trend has been going on for awhile, probably five or six years. We actually, in my tech businesses, I call it Mobile First. Everything starts from mobile first, right? In fact, online shopping, I'll give you an example, everybody is using mobile for everything as you know, and it is integrated into every business. An example is from e-commerce, 60% of all online shopping actually occurs on the mobile device which is crazy. Like six years ago it was nothing and now all of a sudden huge growth, right? So, it's so much easier that if you're on-trend and you're doing something in the mobile arena, as an example, that might make sense. Now, I know a lot of you out there are interested in the app market. You know that sounds like a really cool market. Now there are millions and millions of apps out there right now, which is interesting so you would say hey, that's a trend. Where are we on that trend, right? In fact the app market might have already peaked because there's so much competition, there's so much noise out there and you're just going to one of millions out there. It's going to be really hard to get it noticed unless you have something really, really special. So, again a trend in mobile is super hot right now but the app market might be replaced with something else as we continue to evolve so those are the things I want you to be thinking about or looking at as you're starting to figure this out, right? So why are knowing trends so important? Yeah, I mean first of all, investors. Investors care about it, right? They hear these trends, they're out there, they're interacting, they're online, they're using their mobile device and if you can talk about trends that they can relate to, they're going to get excited and I've watched it. I've watched it in my business. Now, starting to talk about e-learning with them they get all excited and talking about mobile e-learning even more exited because it's very on-trend right now, right? So, kind of keep that in mind. Also, it checks the feasibility of your business, right? If you're capturing a trend and you're going to be able to take the energy from that trend and kind of push your business forward, your business is going to be more feasible, it's going to be easier to start. How 'about with competition as well. You know, as a new business you have all this energy, you're focused on new things and creating kind of a new vision for the world, right? So you're going to be able to leapfrog your competitors in a lot of ways because competitors take a little while, especially if they're established companies they're going to take a little while to kind of get going on a particular trend and you're already going to be on it so you do get that opportunity to leapfrog which is great. Now, go back to my business in e-learning as well, being on-trend and you know I could have done this exact same lecture in a book, right? And you guys could be reading this right now page, after page, after page, literally thousands of pages on how to write a business plan, right? Or how to run your business more effectively. Well, that wouldn't have been very exciting. I wouldn't have been very interested in doing it but now that we take the same content, we spice it up with e-learning, we put it online, we make it available to all the people that want to learn around the world, we add new trends that are coming in like micro-learning, which we've added, social learning and other techniques that we can now leverage because we're actually communicating over the internet. So much more effective than doing it via book. So this business has a lot more chance of being successful just because we're doing it in the way that we're doing it and capturing the trend of e-learning and pushing it forward.