Planning
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Anticipate Trends to Capture New Business

Owners of new and growing small businesses today know one thing for sure: conditions
on the business playing field can change rapidly. The technology that seemed cutting
edge last year is now outdated; or worse, obsolete. Buyer moods can swing
dramatically, and marketing strategies are in constant flux.

Anticipating trends can be extremely valuable in keeping you current on everything from
sales strategies and customer desires to technology tools and the general economy. As
your business grows, change will be inevitable and small business owners should
constantly look ahead and seek out ways to shake things up.  The more you test the
winds of change, the better your chances of success down the road.

But how can you tell the difference between a fleeting fad and a true trend? Louis
Patler, a market research guru for companies such as American Express and Dell, has
spent decades tracking emerging trends and studying their impact on business. He says
the key to successfully piloting a business in the years ahead will be embracing new
ways of thinking.

For example, Patler says that truisms like “stick to what your business does best” are
outmoded. If you want your business to grow, consider that past business traditions and
processes might only hold you back. Trying new approaches is vital.

Not all customers are created equal. Some are more valuable and loyal than others, and
those are the ones you should lavish the most attention on with special savings and
service offers.  And don’t expect loyalty from employees. As American society becomes
ever more mobile and labor shortages worsen, workers won’t stay on a job for more
than three years.

Advances in technology will continue to radically change how small companies do
business. You will need to keep up. Small business owners who know how to acquire
and manage information will achieve the most success. Capturing and analyzing data
about customer needs, wants, behavior and how they use your product or service will
become increasingly critical.

For additional planning help for your small business, contact SCORE "Counselors to
America's Small Business." SCORE is a nonprofit organization of more than 10,500
volunteer business counselors who provide free, confidential business counseling and
training workshops to small business owners. Go to www.scoredm.org on the web or call
(515) 284-4760 between the hours of 10:00 A.M. and 3:00 P.M. Monday through Friday.