09/ 24/ 2007
by Glenn Townes
A surefire way to stay ahead of the competition in your business is to keep abreast of innovations and trends. Entrepreneurs must constantly update, enhance and be on the cutting edge of new ideas and technology that will spark and maintain their business.
The adage of image is everything is imperative when seeking new ways to grow a business. If a small business-owner attempts to present an old or antiquated concept as a trend, the entrepreneur is going to look outdated and perhaps even a bit anachronistic, as technology changes almost daily. In simple terms, clients won't hire you and customers will dismiss your products if your work looks like it is from the 1980s or in some cases, the 1990s. Staying ahead the game and knowing what's “in” is critical for small businesses because knowing what's hot is perhaps one of the best ways to seize an opportunity before some of your competitors.
Trend tracking for small business
A parallel can be drawn between the significance of trend tracking for small businesses and major corporations. Big and not so big conglomerates regularly hire trend spotters around the world to monitor various products and services. Unlike a small business that doesn't have the luxury of an enormous operating budget and fancy equipment, corporations rely on these global watchdogs to keep them one step ahead of the competition. A small-business owner can do the same thing, even while operating on a shoestring budget. There is a wide range of free or nearly free services to stay on top of what's new in business, including a multitude of free newsletters, blog postings and other resources available for the entrepreneur. Knowing where and how the world of consumerism is heading will give the savvy, trend-conscious entrepreneur a sneak peek and firm grip into what indeed appeals to customers. Some of these resources include:
- DailyCandy.com: A free daily e-mail service on new trends in fashion, travel, food and more.
- Trendcentral.com: A free daily e-mail newsletter covering lifestyle, technology, style and entertainment, with a focus on people born in the 1970s and 1980s (Generations X and Y).
- BlogPulse.com: A site that allows you to search and chart blog content. The site also has trend analysis.
- Ubercool.com: Lists the top 50 hottest trends in the world and examples of products and services that are hot.
- Trendwatching.com: Utilizes a network of nearly 10,000 trend spotters across the world, tracking global innovations.
Another way entrepreneurs can stay on top of what's new is to subscribe to various industry newsletters, many of which are available for a nominal fee. One key resource is the Really Simple Syndication (RSS) feeds, which allow you to aggregate dozens of listings of headlines, subtitles and stories from hundreds of web sites. The RSS feeds save times because users are able to view all the pertinent information in one spot instead of visiting each site individually.
Also, special software is required to view the feeds. Google and Yahoo offer generic versions of the software that will allow RSS feeds to be delivered to a computer or cellular phone at a price range of between $20 to $90.
Finally, if you discover a trend that will enhance your business, run with it! The ability to discover a trend and utilize it in your business will keep the business owner proactive and make the business attractive to a loyal, growing cadre of customers.
