My gut says, that the companies born in this recession will be the stuff of legend by the end of the decade. Here’s 5 trends for small business I see coming at us like a storm on doppler radar.
5. Mastering (note: the word “mastering”, not just tapping into) social media is one of the hottest of all online trends.
I thought “Sex” was the most searched term online in 2009. NOT! Facebook” in fact was the most searched term in 2009. (Source: Experian Hitwise)
Big business has discovered what many small businesses already know: Facebook is a great place to advertise.
Hop on the social media train, Jane, because it’s headed out of the station at light speed.
4. Going Local in a green farmers market sort of way: Consumers are increasingly looking for a local angle when looking where to spend their hard-earned dollar.
Example: The explosion of farmers markets across the country. According to Entrepreneur, “there are almost 5,000 farmers markets across the country, the result of more than 5% annual growth for the past five years.”
Additionally, with people staying closer to home right now and with the green ethos growing, home is where the heart (and dollar) is.
3. Sharing vs. Shared Experiences: We are all not watching or experiencing the same thing nearly as much.
For the small business person, it is vital to realize that 1) people look for, and increasingly expect, the personal, and 2) small, localized, immediate user-created media are where the eyeballs are headed.
2. Mobile marketing is exploding. Whether it is creating the Next Big App, offering customers a real-time mobile coupon, or creating a text marketing campaign, in 2010 there will be mobile options galore for small business.
It is a new world indeed.
1. The Start-Up Economy:
The outlook is both brighter and calmer. It is calmer because things are slowly getting back to, if not normal, at least something recognizable. And it is brighter because out of the rubble, a new, vital, innovative start-up economy is being born.
We have entered the era of small business. Whereas GM president Charles Wilson once said “What’s good for the country is good for GM, and vice versa,” it can now safely be said that what is good for small business is good for the country. Consider these statistics.
Small businesses now
• Number almost 30 million
• Employ more than half of all workers
• Constitute 99.7% of all employers
• Constitute 97% of all exporters
• Create the majority of business innovations
(Source: U.S. Small Business Administration Office of Advocacy, 2009)
With 10% unemployment for as far as the eye can see, with the unemployed running out of benefits, and with benefits not what they once were for the employed, start-ups of all shapes and sizes are taking root: One person shops, green home-based businesses, part-time ventures, online enterprises, high tech companies – you name it. These are the folks who, with their creative energy, drive, ingenuity, and hard work will be leading us out of this anything but great recession.
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