How To Profit From Trends

Posted: February 19, 2008 in Business Advice, customers, Marketing, Small Business
Tags: , ,

The news has been full of talk of a real estate market ‘correction’. That we are about to revert back to some previous state sounds plausible until you think about the specific implications. For example, what would ‘going back’ mean for my local community – Coatesville?

  • Sealed roads reverting to dirt?
  • Houses replaced with smaller and cheaper ones?
  • Olives and other ‘new’ crops replaced by traditional grazing stock?
  • High speed internet services removed and we all work in the city?

Extreme examples perhaps, nonetheless they illustrate the folly of thinking in a pendulum-like fashion. If back and forth were true then we could all get rich just by following the advice of ‘expert’ committees. Things will never be the same as they were before – there are always new factors to consider at each stage of a cycle – be that real-estate, business or any other slice of life in general. These changes – often blatant – are missed by experts because they are simply not looking for them.

 This occurs in every industry, and here’s an example we can all relate to – gardens. The rise and rise of interest in ‘getting back’ implies a rosy future for garden centres, (no pun intended), yet there is a paradox-like change this industry must face or die: Big gardens like ours are getting bigger, and town-dwellers gardens are getting smaller. We want mass-planting advice, services and supplies, they want instant potted colour for the apartment balcony. The former begs a fresh and personal approach; the latter only needs a supermarket shelf and the traditional garden centre is incapable of satisfying either.

 Think about your own business and industry. It’s hard to change your assumptions without openly questioning them, and if you don’t you will miss the clues. Let your thinking take into account the changing landscape and look for small trends gathering momentum – it’s far more profitable than listening to industry experts…

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Comments
  1. Jack says:

    Trends is not always winning but it will help somehow if you go with it.

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