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A small business blog featuring tips to help entrepreneurs succeed in the small business world. Topics include family business, human resources, marketing, money, networking, operations, ownership, startup, taxes and technology.
4 Ways to Keep Up on Industry Trends
In order to keep your business in top form it is imperative to be aware of emerging trends within your competitive marketplace. Peronsally, I try to stay ahead of the curve so that I am prepared when change happens.
Sometimes curveballs are thrown but if you do your homework you’ll find that you can win the guessing game.
Here are 4 tips to help you keep up on industry trends:
1) Set specific investigative times.
Set a time for yourself in order to research your sector for new trends. Industry is constantly evolving with every day that passes, are you aware of the leading edge?
2) Make trend spotting part of your daily routine.
Get into the habit of researching every day at the time you chose. Each time you research you are bettering not only your company but also yourself. Stay disciplined, stay on track and you will succeed.
3) Persistently investigate competitors.
Disect their offerings and compare it to yours. Do they have an advantage that you can meet or beat? If so, a change in plan might be needed. If you’re already ahead of the competition, maintain what you’ve got and think of ways to expand on your advantage.
4) Utilize the power of the Internet.
Use Google Alerts to notify you by email when a story featuring your industry is published. Keep track of the authors and other related stories they may cover. There are other powerful ways to use Google Alerts, but I have to keep those a secret.
Turn your research into an asset by applying what you learn to improve your business and create new products and services. This learning process will help you use your time effectively and take action with conviction.
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