BUSINESS

The Latest Business Trends

At any given time there are several emerging business trends in society. In particular, if we were to single out one of the driving forces behind many of the economic trends over the past the 60 years it would have to be that of the baby boomers. Since the time they were born they contributed to the rapid increase in sales of baby food and nappies back in the 50s, schools and education in 60s, car sales in the 70s, the real estate boom in the 80s and the fast food chains and mega supermarkets in the 90s. Leading economic forecasters have used these trends to predict where the baby boomers will spend their money next and in particular were able to forecast the current emerging business trends in the Health and Wellness and Financial Services industries.

A new wave of entrepreneurs coupled with advances in technology has lead to a changing business environment. For example, the telephone has been a primary source of communication for over a century, but utilising our telephones to trade stocks, to send and receive photos and to surf the internet, is a new business trend that is a result of synergistic technologies. Although the elements of these trends have been around for years, the trends themselves emerge when the timing is right and when several factors come together. The health and wellness industry for example, has been with us for centuries, but it took the convergence of the aging baby boomers, with advancements in medical science, to create the critical mass of this emerging trend.

Modern day consumers want speed, variety, quality, customerisation (tailored to the customer’s needs) and choice. As the products that we consume become more sophisticated and complex, consumers are demanding a quality relationship with the provider of these goods and services. They want the products to deliver what the advertising promises. Educated consumers are now choosing to go direct, building a relationship directly with the parent company, which is fundamentally a different concept from the way we have done business in the past.

Going direct through referrals is a concept that has been around for years, but the opportunity for financial advances through access to global networks is enormous and immediate and one that business-minded people should not miss out on.

A number of young entrepreneurs have already spotted this trend. Michael Dell, founder and chairmen of 'Dell' computers is destined to become the new Bill Gates in the next decade, and is the richest person in the world under the age of forty today. One of the most admirable CEOs in America, Michael Dell, has a philosophy that is brilliant, uncomplicated and right online with this emerging economic business trend. He creates a relationship directly with the customer and sells high performance products. Using this direct, relationship model, 'Dell' sells approximately $25 million per day, directly to the consumer, by-passing the middleman, saving the consumer money and creating better customer loyalty.

The going direct concept coupled with building relationships between manufactures and consumers is the essence of the principles of network marketing. More importantly, it is a natural thrust of today’s economy. Network marketing uses relationships to introduce new customers to a parent company so that they can buy direct from the manufacturer. Although this network marketing business environment is not yet so obvious and many will miss its significance, those people that adopt this system early will be rewarded handsomely.

“Unless you are networking, you will soon be not working”
Dr Denis Waitley

Not everyone will see the rise of network marketing as a main stream method of doing business, just like 50 years ago people dismissed the business concept of franchising. Not too long ago people use to laugh at franchises, just as some people shy away from network marketing. Congress almost outlawed franchises with a bill nearly making them illegal, falling short of passing by only 11 votes. Today this vehicle is responsible for over a third of retail sales in America. Of course franchising was not for everyone, but those people who were open and willing to consider new ideas and who had the courage to take action in a changing business environment profited handsomely.

Today people are willing to risk hundreds of thousands, even millions of dollars to open franchises, hoping to capitalise on a business trend that if they acted on decades ago would have rewarded them enormously. Network marketing in the new millennium has entered the main stream and may become more prolific and popular than that of franchises. Unlike franchising however you are only risking your time and effort and not your fortune or a mountain of debt. With network marketing you don’t need inventories and you do not need to create and manufacture the goods and services yourself, you are simply the “direct” in going direct.

Network marketing is not just becoming mainstream, it is starting to become the dominant market trend and one that cannot be stopped. The real question people should be asking is how can they benefit from it?

Network marketing is no longer something to joke about, it is creating more millionaires today than the dot com boom industry did before the bubble burst. As with any opportunity timing is half of the success and execution is the other half. You have no control over the former as the business trend will emerge without you. The jet is leaving the ramp, you can either be on it or miss out. The second half to capitalising on this trend is in the execution, by doing your homework and finding the right company, all you need then is commitment and the desire to learn from those who came before you, and this webpage is designed to help you with exactly that.

So if you’re ready to take full advantage of this changing business environment, we suggest you do your homework and work your way through this site as we help you identify the right opportunity and how to become successful.

What are the recent trends in business?

I have noticed a number of new behaviours that I am calling FAB behaviours. 
(1) Flexibility - Businesses looking for new markets within their existing sectors (e.g. bidding for work they may not have considered doing in the past because the contract was deemed too small), new cost models to make them more competitive, making the best they can of the business experience they already have. Improving your Customer Service Experience. This is all about using what you already have to best effect. 
(2) Adaptability - Businesses have done a lot of the work reducing their overheads over the last few years, as well as a lot of work on LEAN, TQM, Reduced Cycle Times, Reducing Stock Inventories, Process Re-engineering. Businesses are now moving to the next stage and looking at new sectors, markets globally, and developing new partnerships with other companies. Businesses are employing Strategy Directors who maybe looking at either closing parts of the existing business, buying new businesses or recommending buying in the expertise to allow them to be considered a player in these new markets and sectors. It is all about adapting and changing the business to be correctly positioned for the future. 
(3) Being Versatile - Businesses are always looking for the next new thing, so this final category is all about people and creativity and innovation. Examples include entrepreneurs who cross over from big businesses, empowering the people you have and allowing them time to think and create, collaborate and ultimately innovate. The best example I know of is of a Brazilian Company whose story is told in a book called 'Maverick!' by Ricardo Semler. One of the hardest things to change is the company Executives thinking, the company culture and then each of the people in that company that you are really serious of changing for the best of the company and the workers. This section is all about creating an environment within your business where people feel valued and appreciated, enough that they then help the business generate new products and markets where the Customers may not even exist today.