Starting any type of business is not an easy task as you think; well you can take an example of well-established big players such as Bill Gates, Steve Jobs and Richard Branson. Being smart and making the right decisions is not enough to secure a good business future.
Patience is key. Success is not attained overnight. Business success is a combination of all possible things that you managed to overcome through wise decisions and the right attitude. In line with that, if you want to be successful check out these emerging business trends this 2016 and grab as much information as you can.
1. The Gig Economy
We all have our strengths and skill-sets. And most individuals nowadays take advantage of catering their expertise and selling them through gigs. A gig economy is an environment where workers can work for short-term project. A recent study done by Freelancers Union survey in 2015, in which over one thousand Americans found that 34% had done freelance work over the past year, and around 60% of those who had received 25% or more of their income from freelance jobs. Nowadays it is so easy for organizations to search any type worker they need anytime.
So what is the opportunity here? Try putting up a freelancer business. Gather top-notch workers and find clients for them. This is a booming industry and more and more business tycoons are looking into this business.
2. Analytical data
The “big data” phrase is one of the most discussed phrases, you can consider in the modern business world. According to Forbes, only 15% Fortune 500 companies are currently using big data analytics. This is not good for the smaller and mid-size companies; however, one of trade group reports stated that big data annual growth rate is increasing 23% every year and it will increase till 2019. It will help big companies to develop an integrated analytical view of customer activities and business operations effectively.
3. Social selling
Nowadays every business want to share its personal or non-personal information from one side to other. Some big names such as Facebook, Twitter, Linkedin, and other social media platforms have already started to make it possible to use social media websites to sell items with original brand content, also many businesses use these platforms to communicate with each others. In future, these companies will really need to expand and promote their messages to attract their customers. A survey done by a social selling company:
• 79% of salespeople who use social media increase their sales than other salespeople who don’t use social media.
• 53% of buyers said they read recommendations about the product on social media before they make a purchase.
• 65% of buyers make the final decision about purchasing the product on customer reviews.
this trend is helping buyers and sellers effectively because through these platforms it is so easy for buyers and sellers to communicate with each others.
4. Lean Business
As 2016 is going to become tough year for big corporations, it is also going to be a very competitive year for them. Financing is getting harder to accommodate, valuations are falling, due to this many businessmen have started lean businesses, in which meaningful products are developed with originality, on quality and according to customer needs. Lean business basically means to create something of value to satisfy customer needs while striving to eliminate waste products .A few examples of such products would be Dropbox, Airbnb, & Square.
5. Connecting Customers
It is clear that the current economy we are living, can be known as the connection economy. This connection economy basically reward values which is created by building relationships and establishing connections with customers rather than building materialistic assets by industrialism. In the end the most successful debates are the ones that build better relationships with their customers for long time of period.