Business Future – Don’t Bet On It

Business future is as easy as predicting the weather. Weather forecasters, economists, and investors always bet on the future. The best kept secret among the most successful is that they always bet on what has already happened. Many of the most successful innovations were never predicted. Consider that Facebook and the modern internet were not conceived in their current form. Market demand and consumers created what is now those grand inventions. Consumer behavior is historically unreliable. This is because human behavior is unpredictable. It is a waste of time to attempt to predict the future. It is a massive waste of money to invest on those typically unreliable predictions. The better strategy for good business future is to invest in existing market trends. Develop your business strategy around trends that are already happening. Your ability to recognize and exploit those trends will offer excellent opportunities for entrepreneurial success. Here are three ways to plan for the future:
  1. Study innovations in science and medicine.
  2. Observe societal trends.
  3. Track changes in demographics of your target market.
When you develop your business plan, avoid the temptation to focus on what other people are doing well. Focus on the emerging markets for inspiration. Write your business plan not as a solution to current problems but as a way to fix issues on the horizon. Consider your small business future marketing strategy as the engine for future success. Home based marketing that worked ten years ago is not effective today. Traditional marketing is mostly dead. Recognize new and affordable tools that are now entering the market place. Utilize these new concepts as an early adopter of the technology. Be read to dump these tools when the masses jump on board. In summary, focus on current trends for future success. Avoid the temptation to bet on something that you cannot accurately predict. Never bet on consumer behavior as we are all unpredictable. For more interesting reads on business future, click here.
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