What sorts of trends are ongoing in the business world today? During the winter, as the end of the year approaches, it’s helpful to take a look back at the year that’s just elapsed and see what’s new, as well as to imagine where things might behead. This winter, it’s clear that a few major trends have emerged that have dramatically changed the face of business. Here are some of the business trends to keep an eye on this winter.
Choosing a Micro-Niche
There’s never been a worse time to be a jack-of-all-trades. Thanks to the increasing accessibility of Web shopping portals, blogs, videos, and more, it’s clear that customers can zero in on the exact product or service they need to address a very specific problem. More businesses than ever before are setting up shop in and as a micro-niche, serving a very narrow market but dominating as that segment’s resident expert. If your business isn’t doing as well as you’d like, it might be time to reconsider your business setup in Portland or Seattle. You should strive to specialize and then specialize again.
Another fascinating new trend that could be helpful for your business is crowdfunding. Due to the rise of popular sites like Kickstarter and IndieGoGo, people across all borders can provide the capital a business needs to take off. While it certainly doesn’t replace more traditional methods of financing, it’s an innovative way to raise capital for a start-up. It also serves as a fantastic market research tool, because it shows you how much interest there is in a proposed product or service. If your campaign gets an enthusiastic reception, that means you have hit upon a promising market niche that could revitalize your business. If not, you can get a jump on business dissolution and move on to something more promising, more quickly.
A New Office Space
Niches and crowdfunding are the results of a more connected world where people can interact from anywhere and at any time. That’s why another major trend in today’s business world is the surprising lack of an office. Many small and medium-sized businesses can stay productive through communication opportunities like Skype chat rooms, video conferencing, email, instant messaging, and phones. Why not take advantage of a trend that reduces your fixed costs and gives you greater flexibility in managing your business?
As the winter winds down and a new year beckons, it’s clear that there are plenty more innovations and trends to keep an eye on. These represent exciting opportunities for businesses of all sizes. Consider your Washington or Oregon business setup carefully, as you might find significant ways to get ahead through technology and other coming trends.