Trends for 2009 (1-5)
Accoring to USA Today here are the trends for business in '09...
1. Economic tumult:
"Expect more budget cuts, layoffs, shutdowns, bankruptcies, and mergers." According to the U.S. the National Federation of Independent. Small business owners broadly and sharply [will] feel the impact of the recession. Their Business Index of Small Business Optimism. .. was the fourth lowest reading in the 35-year history of the survey." At least for the first half of the year, companies will be downsizing, tightening budgets even more, and looking to do more with less. That trend will trump all others. The good news is that we have probably seen the worst of things and as the year progresses, money and ideas will begin to flow again. Deals may even get made!
2. Innovation rears its head:
It is historically true that business innovation expands as the economy contracts. There are many reasons for this. Necessity being the mother of invention is the main one; that is, with fewer customers and a need to keep the business alive, hearty entrepreneurs often get creative as a way to lure people in.The Xerox machine was first conceived of, and then worked on, during the Great Depression. Ditto Tupperware. This will be even truer in 2009, for a variety of reasons: The need and push for clean energy, a massive government spending programme in the US and abroad, technology moving at the speed of light, scared customers, and an era of new visions and possibilities, to name a few.
Taking advantage: Try doing something new. Labour can be cheap right now, and so too can be materials.
3. Social networking works
Maybe it is just me, but doesn't it seem like people have just become obsessed with Facebook? And it is not just Facebook. It's Twitter, and LinkedIn, and MySpace, and Digg, StumbleUpon, Del.icio.us, Technocrati, and something like, oh, a zillion more.
Taking advantage: Join some of these sites, or, if you are already on a few, put some time and effort into them. It does pay off.
4. Shoestring marketing makes a comeback
In this time of tight budgets, where both entrepreneurs and their customers are increasingly reluctant to part with a penny, it is actually more important than ever that the small businessperson step up their marketing.
As Richard Branson advises, recessions are time to expand, not contract.
Most entrepreneurs instinctively know this and that is why the trend now is towards increased marketing that costs little but delivers big, such as:
.Online video: Tapping into trend # 5, online video is a way to better interact and connect with your customers. Teach them something new about you or your products.
.Blogs: Anecdotal evidence: At a conference I attended earlier this year, fully half of the small businesses surveyed said they are increasing their blogging and as such are successfully using blogs to grow their business.
Blogs make you more accessible. Blogs increase your search engine optimisation. Blogs can build your business. Even if you only get, say, 50 people consistently reading your blog, that's 50 more potential customers than before.
.Old school marketing: Coupons, word of mouth, direct mail, customer service.
Taking advantage: Get crackin', amigo!
5. Web 2.0 tips
Web 2.0 has reached the Tipping Point. Web 2.0 is shorthand for this era of interactive Internet where content is often participant created. YouTube is the most obvious example - the audience creates the Internet experience.
Flickr, Slideshare, and even the comments section on USATODAY.com articles do much the same thing.
More significantly, this interactivity has spread to mobile computing, and this presents increased opportunity for small business. Notebooks, smart phones, BlackBerrys, GPS devises, netbooks (small notebooks for mobile Internet), etc. enable you to reach customers as never before. Experts say that the biggest opportunities lie with restaurants, financial and news services, and retail.
Taking advantage: Create a viral video. Create a web app, or a mobile web app. Solve a problem.