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Do you know the hot trends for your business?
Trend watching has emerged in big business as a management
discipline but it can also be a great guide for the
entrepreneur. If your traditional business is not part of a
growth trend, you may face a decision about the direction your
company should take. It can be a tough decision, especially if
you are running a family concern and traditions feature strongly
in your business culture.
However, successful business owners always have an eye on the
trends. Alan Sugar started Amstrad in 1968 trading in electrical
goods and then moved into manufacturing. His spectacular growth
came in the 1980's when he spotted the mass market trend for
home computers.
Long before that, in the 1930's, Ferdinand Porsche had an idea
for a mass-produced car that drivers of modest means could
afford, but the Directors of Daimler-Benz thought it too radical
& turned it down. Ferdinand went into business for himself and
started work on what would become the Volkswagen Beetle, while
continuing development of the luxury sports cars that still bear
his name.
It's probably no coincidence that two of the top trends for the
future are in the motor industry, specifically the teenage
market for customizing & accessory kits and in Internet
Marketing where there is a huge opportunity for disaster
recovery products. Two other top trends are in the areas of
health & wellbeing and in developing green energy sources.
If you have ideas for expansion or a change of direction, call
us and we'll help you to reach an objective view and, just as
importantly, we'll ensure that you are free to maintain your
existing business at it's full potential while changes are
taking place.
www.mercantile-group.com
About the author:
Andrew Hawkins is Managing Director of The Mercantile Group,
helping SME's to turn ambition into reality.
www.mercantile-group.com