Is This New Business Trend Right for You?

In 2016 we saw an explosion in business trends. Some worked, while many of them didn’t. As a leader it can be tough when these potential opportunities pass us by. It’s like seeing a commercial when you were a child for the hottest toy when the holidays came around (you just had to have it). So have you ever asked yourself if the newest trend is right for you? It can be an overwhelming decision, and I’ve figured out new ways of thinking that have helped me when making decisions.

Recognize the sector – You may see a new trend and convince yourself that you can use it to drive business and sales. But it’s important to consider what sector the trend is in that creates the most rewarding feedback. Everyone has a podcast these days, so if you’re thinking about starting one and reviewing the newest iPhone you need some type of edge to separate yourself from the competition. In the age of technology and social media, waves of hype will continue to alter how we perceive the success of trends. And when it comes to new tech and tangible devices, I would never recommend putting all your eggs in one basket. Remember the failure of Google Glass?

Find the problem areas – Maybe you want to hop on a new business trend without realizing it won’t actually help you in the long run. Lately I’ve been reading up on the importance of strong company culture for success and longevity of businesses. This isn’t a new topic buy any means, but it’s something I’ve been interested in. My point is this – maybe you are operating in a business setting that already has a strong bond between the employees. So why jump on some new trend when you don’t even need it? Identify the major areas of concern and look to improve those areas. If it isn’t broken, don’t fix it right?

Is it here to stay? – Because we always see new trends emerge, the longevity of these potential trends can be a major concern. What we think is the “next big thing” can literally fizzle out within a couple of weeks (I’m looking at you Pokémon Go). I understand most of the time this is a guessing game – but when you take time to dissect potential trends you will create a positive and negative list of carefully considered information. The best approach is looking at business trends as a stock market. When you accept that risk is involved, you will only take the safe and rational approach.

Take the plunge – I know that my first three recommendations were more of a “safe” approach to business trends, so this mindset is just a little push for you in the right direction. Sometimes what seems like a risky trend may actually be what your business needs. And I would recommend taking the plunge if you’ve had your eyes on a specific trend for a while. Whatever it may be, set up your business for eCommerce, focus on video conferencing, or hire a millennial – it’s all about taking that first step towards overall improvement.

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