WHAT’S UP, G? GENEROSITY, THAT’S WHAT
You’ve heard of Generations X, Y and Z, but now make room for Generation G — as in Generosity. TrendWatching.com notes that the shock of the 2008 financial crisis and the pain of the ongoing Great Recession have in many ways shifted consumer attitudes toward business. They generally have no problem with the pursuit of corporate profits, of course; that’s what the game is all about. But they expect a positive social attitude and good works from companies of all size — charitable contributions, active philanthropy and showing, in a million and one ways, that you care about the communities that give you their business.
GREEN IS MORE THAN JUST THE COLOR OF MONEY
Business sustainability is hot these days. Despite the global recession, companies — whatever their industry — are increasingly realizing that for purposes of both good PR and a good bottom line, it pays to be eco-conscious. How broad-based is the new green economy? Very broad, as TrendWatching.com points out in this survey of eclectic products and services with a distinctly emerald tinge: an eco-friendly sports car? A sun-powered trash compactor? Install-’em-yourself solar panels? They’re all here, indicative of a burgeoning market that knows few bounds.
INCORPORATION: WHY AND HOW IT’S DONE
The “Inc.” after many businesses’ names is such a common sight that it’s become an afterthought. But what does it mean — practically, legally and otherwise — to be incorporated? What are the advantages of doing so? Legally, must a company be, whatever its size? Are there different kinds of incorporation? Why on earth are so many major companies incorporated in tiny, out-of-the-way Delaware even if their headquarters are thousands of miles away? And how exactly do you incorporate in the first place? LegalZoom’s Incorporation Education Center is a good spot to find some answers.
“SELL-SUMERS”: ECONOMIC DEMOCRACY IN ACTION
Saving, we’re constantly told, is the new spending: a virtuous act that will help us all repent for the sins of our collective recent debt-binge mania. Which is all well and good, but not exactly a recipe for economic recovery. Surprisingly, though, as TrendWatching.com notes, the broader economy is well-poised to be goosed just a bit by the rise of the “sell-sumer” — a new breed of consumer who is able to market his expertise and sell or rent unused assets to others thanks to the Web, the most efficient marketplace in human history. It thereby benefits the individual and the larger economy — and while its impact will likely be limited, even a limited benefit is still a benefit.
“NOWISM” GIVES INSTANT GRATIFICATION A GOOD NAME
The hyper-convenience of much of the online economy is creating new expectations among consumers — a situation that is both beneficial and a challenge for businesses, as TrendWatching.com notes. Why? Because ingrained “nowism” — the assumption that every economic transaction online will be immediate, successful and produce exactly what the consumer desires — keeps companies constantly on the spot and forced to produce or die, but offers the possibility of vast rewards for those best able to fulfill their core business mission to the satisfaction of their customers.
CONSUMER TRENDS IN 2010: WHAT TO LOOK FOR
Sure, the economy is (slightly) on the mend, but business owners looking ahead to 2010 with nothing but cheery optimism are hard to find. What will be the key factors driving consumer behavior in the year to come, and what do you need to know to maximize the benefits for your business? TrendWatching.com offers 10 of the most important things to keep an eye on.
“NOWISM” TOO QUICK AND FRAGMENTED? TRY “FOREVERISM” ON FOR SIZE
“Nowism” represents the consumer’s desire (and expectation) for instant gratification of economic wants and needs, but as TrendWatching.com illustrates, the Web’s very fluidity — the fact that it is everywhere and nowhere at the same time, and always changing — creates an equally strong force of “foreverism,” the idea that nothing anymore is ever finished or permanent, and consumers with an affinity for a particular product, service or experience can continue to interact with the individual or company that provides it for as long as either side desires. These days, all things — not just diamonds — are forever.
THE CREDIT YOU DESERVE
Consumer credit is powerful servant — and a dangerous master. Building a credit history is necessary for being able to make big-ticket purchases (cars and a home, primarily) in the future, but letting your debt get out of control can be an unnerving, frightening and, in the worst case, bankrupting experience. Recent pro-consumer changes in credit laws, spurred largely by the credit crisis that helped torpedo the national economy in 2007 and 2008, can't obscure the fact that credit can be a confusing mess of seemingly contradictory rules, benefits and disadvantages. The Federal Trade Commission has pulled together Credit 101 basics in a single tidy package — and even if the "hey there, hipster kids" presentation is a little embarrassing (apparently the government wasn't told that it's 2010, and no one buys CDs or kicks back on beanbag cushions anymore), the information is pretty comprehensive.
YOUR CUSTOMERS ARE YOUR BIGGEST CRITICS. LET THEM BE
No one likes criticism — but any business that disregards what its customers are saying will not be a viable business much longer. “Reviewing is the new advertising” is the provocative point made by TrendWatching.com — in other words, smart companies are those that embrace transparency, let their customers have their say (good or bad) and pay extraordinarily close attention to product reviews. Your customers can thus do most of the advertising-and-marketing heavy lifting for you, and they won’t ask to be paid a dime. That’s a small price for some valuable, business-improving constructive criticism, isn’t it?
http://trendwatching.com/trends/transparencytriumph/SOCIAL MEDIA: EMBRACE THE REVOLUTION
Were you aware that the Tulsa, Oklahoma, Chamber of Commerce maintains a Facebook page? Of course you were — anyone without a well-developed presence on Facebook these days is either in the natal ward or deceased. But how can you take advantage of the social-media revolution to build your business and stay connected with your customers? The New York Times Small Business Center has some terrific tips.
http://www.nytimes.com/2009/11/12/business/smallbusiness/12guide.html?_r=1&em
