Spotting the Next Big Thing

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Eyeing the startups trend

STARTUPS which have an eye for trend will often be ahead of the curve and stand a higher chance of getting into the good books of venture capitalists. Spotting excellent trends will not amount on anything if you are not going to do anything about it. The bottom is that you need to find what the trends are and use them to your advantage.

Spotting trends early make it possible to anticipate market reactions and needs, or you can be a trend setter by modifying your startup plans. That way you can almost seamlessly jump on to a new trend just as it takes off.

Spotting trends is no rocket science and you don’t need a sophisticated system to help you spot trends. The easiest, hassle-free and conventional way is the old-school approach of reading and browsing through sources. Also, stay active in industry conferences, events and associations – insights gathered from these conferences can help you keep up with what’s new and what matters.

Secondly, keep a watch on the demographic changes in a community, society or economy. Modifying products or services for different generations is a great way to capitalise on trends, Keep abreast with demographic trends and be mindful of how your target customers’ needs may shift. Once you’ve figured that out, it’s easy to offer innovations and ideas to customers. Quite often consumers do not know how much they need a product until it’s presented to them.

Thirdly, dare to be disruptive. Dare to go against the grains. Many inventors have emerged as champions simply by being a disruptive force and betting against market trends. Creating a product based on countertrend is one of the most effective ways to dominate highly saturated and competitive market. If there are lots of competitors in your niche, an inventor should be bold enough to take the road less travelled to make a difference the business needs.

Good luck and start to DREAM BIG!

 

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