This week, we're exploring how identifying Trends can unlock opportunities. Here is your 5-minute weekly read.
As an entrepreneur, you are constantly searching for emerging opportunities. Whether through a microscopic or a telescopic view, there are ways the human mind can identify growth potential.
In the fast-paced world of business, staying ahead of the curve is essential for success. Here are some strategies to help you spot new trends:
Monitor Social Media
Social media platforms are often the birthplace of new trends. By keeping a close eye on popular platforms, you can spot emerging trends before they hit the mainstream. Look for recurring themes or topics that are gaining traction.
The Dalgona Coffee Trend: This whipped coffee trend started on TikTok during the early days of the COVID-19 pandemic. Users would share videos of themselves making the frothy coffee drink, and the trend quickly spread to other social media platforms.
Follow Industry Leaders and Influencers
Industry leaders and influencers often set trends. Monitor their activities, read their blogs, and listen to their podcasts. Their insights could help you identify potential trends early.
#MeToo Movement: Although it began as a grassroots movement in 2006, the #MeToo Movement gained global attention in 2017 when it went viral on Twitter. Maybe you can create a better working environment and attract more talented women.
Listen to Your Customers
Your customers can be a valuable source of information about emerging trends. Pay attention to their feedback and observe their behaviour. They might be showing you the next big thing without even realising it.
Remember, spotting trends is just the first step. Once you've identified a potential trend, it's important to analyse it critically before you go to market.
Quote of the week
"The best way to predict the future is to create it."-Anonymous
Workshop: Business Development: Using the 3D Box Thinking method
4 weekly online sessions
1. Entrepreneurial mindset
2. Developing your sales
strategy
3. Craft an entrepreneurial
marketing strategy
4. Present in a 1-to-1 session
https://www.entrepreneurtnt.com/become-a-knowledge-entrepreneur-workshop-1
Sajjad Hamid is an Entrepreneurship Educator who supports entrepreneurs in scaling their ventures. In his spare time in Trinidad and Tobago, he cultivates organic tropical fruits and vegetables, practising sustainable farming in his home garden.
He is the author of Build Your Legacy Business: Solopreneur To Family Business Hero. Sajjad is a Fellow of the Family Firm Institute. You can contact him at [email protected] or visit www.entrepreneurtnt.com.
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