Five global small business trends

Discussion in 'Growing and Managing a Business' started by alvinkitter, Jan 13, 2010.

  1. alvinkitter

    alvinkitter
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    Technologically Driven Business: Future business relies heavily on technology. Instead of a medium innovation has turned into a necessity as well as competitive advantage in driving business growth. Most importantly technology will enable borderless trade, utilization of geographically spread human resource as well as tapping diverse markets. But the most important use of technology lies in decreasing cost of business operations, which is so important for small and medium business.

    The Global Entrepreneur: the present entrepreneur thinks not just locally but globally. High on innovation and using internet reach the present business environment is deeply rooted in the way social application of the online media is used. Besides even traditional products is having wider reach. And these are not capital intensive.

    Effortless IT management: Gone are the days when for running a software you needed a whole gamut of associated IT infrastructure, servers, Backup facilities and security tools. Software as a service allowed you to get to use the software without actually using them. And now cloud computing enables deliverance of Hardware as a service as well. This minimizes the local IT infrastructure investment as well as scalability easier to achieve. Business applications such as accounting applications, tax applications and CRM application are now preferred to be hosted.

    Social media: The effectiveness of social media for brand building as well as creating new markets has been proved beyond doubts. So it’s not strange that most of the business is now having presence on the social networking sites for lead generation, job placements and researching the market trends. Social media marketing has also picked up fast.

    Online Training and professional Education: Small business are now utilizing the low cost yet highly personalized, specific and low-cost online training courses and programs to help them improve productivity and employee management.
     
  2. Deborah

    Deborah
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    The Glogal Entrepreneur observation is a really important one. Offline businesses should be thinking about how they can produce a product that can be sold online globally. There is a huge untapped opportunity for your company to find an audience with ease.

    My mother owns a quilt shop, totally offline. I wish she would get an electronic store set up and start selling online. I think they could really increase business if they would.

    But she is not technically savvy. If you are, you should be jumping on this idea!
     
  3. Fergal

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    Maybe you could set up and manage an online store for her and agree a commission with her for every sale made on the store? That way you could both profit from it.
     
  4. Deborah

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    Oh, I know! I've been thinking about that more and more. I have a full business to run with my social marketing business, but it's such an opportunity sitting there!

    That really is the problem with internet marketing, there are SO MANY possibilities! The trick is to pick one or two and focus on setting them up. All the possibilities is why I LOVE internet marketing!
     
  5. Fergal

    Fergal
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    I understand where you are coming from Deborah. I've posted in other threads saying how I've learned the hard way, to focus on one or two projects, and discipline myself not to get distracted by other opportunities.
     
  6. foreverest

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    Does my business fit to such trends:p
     
  7. Fergal

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    What's your business?
     
  8. scifi

    scifi
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    well gr8 post ....

    In fact today motive of business has changed a lot as indicated in your post too...
    Social Media has evolved as a very strong marketing tool an platform....
    In case of global entrepreneurs their slogan has got a makeover and it is
    ...Yeah time is to make use of available local resources and reap out of them some opportunities that will be global in nature...
    Regarding Technology , it is changing at a very past pace too..and one has too keep updated abt such shifts in technology....
    The very recent eg. being case of Movie "AVATAR" which was released in both 2D and 3D versions..but 3D version got much more viewer response than its 2D version so multiplexes which have 3D version technology were definitely in advantage...
    Lastly everything is available at the tip of a click and if not can be accessed easily online as indicated in online education and training from almost any part of the world by any individual...

    :D
     
  9. hrcanada1

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    Personally I am so satisfied that I have found this information about global small business trends. I am very interested in human resource so this info is very valuable for me.
     

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