One of the best things about being an entrepreneur is having the flexibility to identify an opportunity and act on it right away. So many of these opportunities—and whether we can profit from them—depends on being in the right place at the right time.
Think about it: If you knew which industries were up and coming, you could be poised to move your company into place to seize the business that will arise as a result. Consider this article your tip sheet.
Here are seven industries that are on the verge of something big—something you just may want to take advantage of:
1. The moving industry. Never have we been as mobile as we are right now, and not only will that trend continue, but we'll continue to see an increase in folks who choose to relocate. Think about it: In the throes of yet another snowstorm, how often do you hear folks say they want to move to Florida?
As we become increasingly flexible in terms of where we’re able to do our jobs, the number of people who move will continue to grow—if you work from home, you can really work from anywhere. We’re less tied than ever to one particular physical space.
How do you capitalize on this trend? Even if you don’t own a fleet of moving trucks, look at your business and see if you have services that can be marketed directly to people who are new to the area or are on their way out. Be creative!
2. Wearable technology. Google Glass. iWatches. Flexible, wearable screens. Our tech gadgets are increasingly more portable and wearable, and that evolution will usher in a host of accessories and ways to customize those gadgets. Stay on top of new tech, and look for the add-ons—things like custom cases for transporting Google Glass or changeable skins that alter the appearance of the latest iWhatever.
As our gadgets become part of our look, you’ll find people who want to personalize their new toys.
3. Unique vacations. Turquoise water and tropical drinks ... the plague of the same old vacation pics on social media is part of the trend that shows vacationers are seeking something different from the norm. Exotic locales, adventure excursions and out-of-the-way destinations are on the rise.
Even if your company’s not located in Bora Bora, you can look around for areas that are hot for unique travelers and find a way to cash in. Cater to vacationers in your area, whether it’s a local wine trail or a rock climbing location, and you’ll increase your customer base.
4. 3D printing. I’d be tired of beating this drum if it weren’t so important and so exciting! It’s going to be everywhere. One of the most intriguing trends is the shift away from consumers who order the actual item—say, as a replacement part for your fancy coffee maker—toward the company that sells the formula for consumers to print the object at home on their own 3D printer.
If you can find a way to market your 3D recipe for the goods you sell, you’ll be at the forefront of this revolution.
5. Online training. From traditional degrees to software updates, you can find online education in any niche, and as the tech gets better, the market will only continue to grow. Using information marketing techniques, combined with the interactive flexibility of Skype and other technologies, if you can find a way to market your unique educational product, you can cash in on this trend.
Think outside the box. Even if you sell tangible goods, you may be able to translate your expertise into tutorials for others who want to imitate your success.
6. Local delivery = local manufacturing. Even though Amazon won't really be able to use drones to deliver your books anytime soon, the options for delivery are growing daily. Partnerships between international companies and local delivery providers translate to reduced costs and local supply options at a moment’s notice.
If you’re dialed in to participating in these local deliveries or capitalizing on the rapidity with which you can order and receive products, you’re positioned well.
7. Elder care. You’ve been hearing about this trend for the better part of a generation, but it continues to increase dramatically and won't slow in our lifetimes. It’s not just the physical care of the elderly population that presents an opportunity, however. It’s the market share that’s commanded by this demographic.
Consider this: Scientists believe the first person to live to 120 years old is most likely already alive today, and businesses that ignore these consumers are passing up enormous profits. Look carefully at your business to make sure you take care of this important—and growing—market.
I see it time and again—the healthiest businesses are the ones that maintain the quality of their offerings while constantly working to capture additional market share. Whether it’s a new product or a new marketing strategy, don’t miss your chance to grow your business by taking advantage of these burgeoning trends.
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