Trends for 2009 (continued 6-10)
6. Opportunity abounds!
As Warren Buffet says, "You should get greedy when others are fearful and fearful when others are greedy."
Many things are on sale right now, especially stocks and real estate.
Taking advantage: If you buy at these historically low prices today, it is doubtful that you will regret it tomorrow.
7. The solo-preneur takes flight
According to the U.S. Bureau of Labor Statistics, in November 2008 "employers took 2,328 mass layoff actions involving a total of 224,079 workers." In addition, "the unemployment rate rose from 6.5 to 6.7%. Job losses were large and widespread across the major industry sectors."
And the unemployment rate is only going to climb higher, and higher.
According to Thomas Frey, the Senior Futurist at the DaVinci Institute, "As a general rule, 7% of the recently jobless will attempt to start their own businesses." Frey says that "the most popular form of start-up will the Empire of One, one-person businesses. .. ."
Taking advantage: "Look for rapid growth of support structures eg. business advice, management systems, and outsourcing options."
8. Green goes mainstream
Yes, people are looking for a bargain, but an increasing number also want their product and service providers to be environmentally conscious. And green consumers in particular will almost always be willing to pay a premium for organic, sustainable, green products.
Taking advantage: At a minimum, make sure your website indicates your green commitment.
9. The O-conomy
The election of Barack Obama signifies many things, but for our purposes here, a main one is that government spending and budgets will be headed in a new direction, and it would behove the smart entrepreneur to get ready to take advantage of these new priorities.
The stimulus package that Congress will pass in early '09 will budget plenty of money for all sorts of infrastructure projects - everything from the traditional - roads and bridges - to the new - green businesses and high tech.
Taking advantage: Google 'bidding on government contracts' and learn how.
Government largesse - it's not just for Halliburton anymore.
10. Money doesn't grow on sprees
In this era of belt-tightening, reduced budgets, unemployment, and fear, it is easy to see why one of the most obvious trends out there affecting small business is the desire of consumers and customers to save a buck, spend less, and get a bargain. Even high-end brands are feeling the effect of this trend.
Taking advantage: If people are looking for a bargain, give them one.
Discount popular products. Bundle services for less. Negotiate.
From www.USATODAY.com
Source for DCEB: Billy Linehan
billy.linehan@celtar.ie
Profile www.linkedin.com/in/billylinehan
Blog http://celtarbiz.wordpress.com/
Billy Linehan is a Certified Management Consultant, CMC, and a member of the Institute of Management Consultants and Advisers of Ireland. Celtar Ltd is a registered practice of the IMCA