Tag: be realistic

Benefits of Time Management: The Best Solution for Getting Things Done

Is Zen a word that you occasionally use? If you stress the word occasionally, I would answer yes to this question. Especially if we were discussing a topic like the benefits of time management.
benefits of time management
Benefits of time management.
Check out our thoughts on team leverage.
Zen teaches that the potential to achieve enlightenment is inherent in everyone but lies dormant because of ignorance. It is best awakened not by the study of scripture or the practice of good deeds, but by breaking through the boundaries of mundane logical thought. To be successful in the battle of getting things done you certainly break through these boundaries.
Related post: Lessons Learned in LIfe … Class Contiues Daily
Nothing else can be managed if time is not managed. Pretty tough quote by Peter Drucker, but if you think about it carefully, you will agree. Getting things done doesn’t come easy and it starts and ends with productive use of time.
Getting things done is all about the ability to plan and control how you spend the hours in your day to effectively accomplish your goals. Poor time management is related to procrastination, as well as problems with self-control. Skills involved in managing your time include planning ahead, setting and prioritizing goals, and paying attention to what you have accomplished.
Before going further in telling you how to be more productive in getting things done, let me tell a story to set the stage. The story is really an effective analogy and here it is:
This story is about a big game prize. Your prize winnings is in the form of a daily deposit by your bank into your account. Each morning your bank would deposit $86,400 in your private account for your use.
 
However, this prize has rules :

Everything that you didn’t spend during each day would be taken away from you.
You may not simply transfer money into some other account.
 You may only spend it.
 
 Each morning upon awakening, the bank opens your account with another $86,400 for that day.
  
The bank can end the game without warning; at any time it can say,”Game Over!” It can close the account and you will not receive a new one.
So what would be your plan of action?
 
 You would buy anything and everything you wanted right?
 Not only for yourself, but for all the people you love and care for. Even for people you don’t know, because you couldn’t possibly spend it all on yourself, right?
You would try to spend every penny, and use it all, because you knew it would be replenished in the morning, right?
 
ACTUALLY, This GAME is REAL …..
 
Each of us is already a winner of this “prize”. 
 
Only instead of money, this prize is TIME.
 
Each morning we awaken to receive 86,400 seconds as a gift of life.
  
And when we go to sleep at night, any remaining time is NOT credited to us.
What we haven’t used up that day is forever lost.
Yesterday is forever gone.
Each morning the account is refilled, but the bank can dissolve your account at any time WITHOUT WARNING …
  
SO, what is your plan of action for this precious commodity each day? What is your plan of action for getting things done with your time?
  
Those seconds are worth so much more than the same amount in dollars. Think about that and enjoy every second of your life, because time races by so much quicker than you think.

Benefits of time management … start spending, but spend wisely.

It often feels like there just aren’t enough hours in the day to accomplish all the things we want to accomplish, let alone find a moment to relax. The demands of work and social life, combined with our basic needs for sleep, food, and exercise, can quickly add up and overflow, producing the sense that time is constantly slipping away. Time may be limited, but it doesn’t have to always feel that way. New research suggests that our state of mind can change the way we perceive and experience time, and in turn, make us happier and more successful in getting things done.
Have you read Stephen Covey’s  book “7 Habits of Highly Successful People”? The figure below is Covey’s now quite famous “time management matrix”  from  this book. If you have read the book, it will be familiar to you.
Covey’s Time Management Matrix
His focus on the time-management matrix is part of Habit #3 – Put first things first. Here he argues that we need to spend our time and effort with the type of tasks listed in the second quadrant (Important and Not Urgent), as these are truly important to us and are not done, ineffectively, at the last minute.
Most importantly, this habit, as with many “step-like” programs, will only be successful if you first achieve the earlier habits. In this case, both Habit #1 – Be Proactive, and Habit #2 – Begin with the end in mind, must be established.
Habit 1 and Habit 2 build a base of necessity and purpose, respectively. First, by acknowledging our responsibility in life to make and own our choices, Habit #1 establishes us as responsible, active people world. With this established, Habit #2 provides the focus for this type of action. With Habit 2, we answer the question, “What is my purpose?” We establish our mission and the vision for our actions.
So in addition to Covey’s time management matrix, follow these additional tips to help you in getting things done:

Organize your plan

In order to have your priorities lined up for each day, make a list of things that you have to do the night before and evaluate the importance of those projects. By committing your priorities to paper, you psychologically enter into a contract with yourself because it creates a greater responsibility in your mind to get these things done.

 

 

Benefits of time management in the workplace … start the day early

Coming up short on time toward the end of the day? Get started 30 minutes early. It will give you some breathing room with the day and start the day with important alone time. There’s nothing better than starting the day fully organized and ready to go. It could also give you some time to re-think today’s priorities.

 

 

know your priorities
Do you know your priorities?

Know your priorities

Plan to spend at least 50 percent of your time engaged in the thoughts, activities and conversations that produce most of your results … quadrant 2 tasks.

Keep the focus on quadrant 2 tasks

Oftentimes, we don’t do the essential things that need to be done because we get sidetracked — in many cases by tasks we’d rather be doing. In order to avoid this trap, it’s important to keep the focus on the plan of attack on quadrant 2. If you notice more than an occasional task in quadrant 1, it is important to put better effort in planning.

 

 

Work to the plan for getting things done

When you can visualize how you plan your day to go, you can cut back the down time. Got enough work done? Put some time in the gym or talk to your family. If you can schedule and plan accordingly, you’ll never run out of time.

 

Disadvantages of time management … beware interruptions

Plan time to be pulled away from what you’re doing. It will happen, as it happens to us all. Accommodate these interruptions in your plan.
be realistic
Can you be realistic?

Be realistic

When you’ve created a plan and a schedule, it’s important to be realistic about what you can actually accomplish in a workday and prioritize accordingly. 

 

 

Stay organized

Keeping up with an organizer that holds every appointment you have will cut down on any wasted time. Most people think they can get away with just creating mental notes, but that’s not good planning. Keeping your life in order with something concrete will aid in cutting down stress. Tidying your desk and workspace can also keep your work consistent. Plan time to be pulled away from what you’re doing.

 

Avoid Distractions

Easily the hardest thing to do all day at work is to be able to focus at all times. We all struggle with distraction, but being able to get back on the horse and stay focused is a great talent.

 

The bottom line

Remember this: everyone in the getting things done  business will tell you the same thing – “learn to say no.” It is very difficult to say no until you have established your own sense of priority and purpose.

word_of_mouth

 

So what’s the conclusion? The conclusion is there is no conclusion. There is only the next step. And that next step is completely up to you.
 
 Do you have a lesson about making your learning better you can share with this community? Have any questions or comments to add in the section below?
  
It’s up to you to keep improving your ability to learning to learn. Lessons are all around you. In many situations, your competitor may be providing the ideas and or inspiration. But the key is in knowing that it is within you already.
 
 It’s up to you to keep improving your continuous  learning  from all around in your environment.
 
All you get is what you bring to the fight. And that fight gets better every day you learn and apply new lessons.
When things go wrong, what’s most important is your next step.
 
Test. Learn. Improve. Repeat.
 
Are you devoting enough energy continually improving your continuous learning?
 Digital Spark Marketing will stretch your thinking and your ability to adapt to change.  We also provide some fun and inspiration along the way.
More reading on mentoring from Digital Spark Marketing’s Library:
Beware: Characteristics Which Destroy Effective Teamwork
Lessons Learned in LIfe … Class Contiues Daily
Are You Looking for an Extraordinary Fast Track Career
Mike Schoultz is a digital marketing and customer service expert. With 48 years of business experience, he consults on and writes about topics to help improve the performance of small business. 

 

 

 

 

 

Managing your Work: 10 Fundamental Laws to Keep Steady

Peter Drucker once said: Time is the scarcest resource and unless it is managed nothing else can be managed. Are you one that pays attention to time in managing your work?
managing your work
Pay attention to managing your work.
If you stress the words pay attention, I would answer yes to this question. Especially if we were discussing a topic of managing your work.
Nothing else can be managed if time is not managed. Pretty tough quote by Peter Drucker. However, if you think about it carefully, you will agree.
Managing your work doesn’t come easy. It starts and ends with the productive use of time.
Managing your work is all about the ability to plan and control how you spend the hours in your day. The game plan is to effectively accomplish your goals.
Poor time management is related to procrastination, as well as problems with self-control. Skills involved in managing your time include planning, setting and prioritizing goals. The skills also include paying attention to what you have accomplished.
Before telling you how to be more productive in managing your work, let me tell a story to set the stage. The story is an effective analogy, and here it is:
This story is about a big game prize. Your prize winnings are in the form of a daily deposit by your bank into your account. Each morning your bank would deposit $86,400 in your private account for your use.
 However, this prize has rules :
Everything that you didn’t spend during each day would be taken away from you.
You may not simply transfer money into some other account.
You may only spend it.
 Each morning upon awakening, the bank opens your account with another $86,400 for that day.
The bank can end the game without warning. At any time it can say, ”Game Over!” It can close the account, and you will not receive a new one.
 So what would be your plan of action?
 Would you buy anything and everything you wanted? Why not, would be my question.
Not only for yourself, but for all the people you love and care for. Even for people, you don’t know. You couldn’t possibly spend it all on yourself, could you?
You would try to spend every penny, and use it all, because you knew it would be replenished in the morning, right?
This GAME is REAL …..
Each of us is already a winner of this “prize.” 
 Only instead of money, this prize is TIME.
Each morning we awaken to receive 86,400 seconds as a gift of life.
 And when we go to sleep at night, any remaining time is NOT credited to us.
What we haven’t used up that day is forever lost.
Yesterday is forever gone.
Each morning the account is refilled, but the bank can dissolve your account at any time WITHOUT WARNING.
 SO, what is your plan of action for this precious commodity each day? What is your plan of action for getting things done with your time?
Those seconds are worth so much more than the same amount in dollars. Think about that and enjoy every second of your life. Time races by so much quicker than you think.
Start spending. But spend wisely.
It often feels like there just aren’t enough hours in the day. We want to manage time effectively right? We desire to accomplish all the things we want to accomplish, let alone find a moment to relax.
The demands of work and social life, combined with our basic needs for sleep, food, and exercise, can quickly add up and overflow. It certainly produces the sense that time is constantly slipping away.
Time may be limited, but it doesn’t always have to feel that way. New research suggests that our state of mind can change the way we perceive and experience time. This makes us happier and more successful in getting things done.
So to help, follow these ten ways to help you in managing your work:

Know yourself

 Know the details of your personality. Make sure you appreciate how putting things off will affect you.
What to do
Pay attention to all the insights of your habits. Use these insights to muster as many self-corrections as possible.
 
 

Establish your plan

To have your priorities lined up for each day, make a list of things that you have to do the night before. Evaluate the importance of each of those projects.
By committing your priorities to paper, you psychologically enter into a contract with yourself. This will create a greater responsibility in your mind to manage each task.
What to do
Make sure the plan you establish doesn’t overwhelm you. It needs to add some flexibility.
 
 

More time management

Coming up short on time toward the end of the day? Get started 30 minutes early. It will give you some breathing room during the day.
It will allow you to start the day with important alone time. There’s nothing better than starting the day fully organized and ready to go.
It could also give you some time to re-think today’s priorities.
What to do
Estimate time goals for each of the day’s tasks. See how well you do and use the feedback for better planning and learning.
 
 

Change perspectives

Plan to spend at least 50 percent of your time engaged in the thoughts, activities, and conversations that produce most of your results.
What to do
Reevaluate what interests and affects you. Apply this to reassess all work tasks.

Make commitments

Often, we don’t do the essential things that need to be done. Often this is because we get sidetracked. Sidetracked in many cases by tasks we’d rather be doing.
What to do
To avoid this trap, it’s important to keep the focus on the priority tasks.
 
 

Be realistic

When you’ve created a plan and a schedule, it’s important to be realistic about what you can accomplish. Provide a feedback loop and update accordingly. 
When you can visualize how you plan your day to go, you can cut back the down time.
Got enough work done? Put some time in the gym or talk to your family.
What to do
If you can schedule and plan accordingly, you’ll never run out of time.
 

Schedule time for interruptions

Plan time to be pulled away from what you’re doing. It will happen, as it happens to us all.
What to do
Accommodate these interruptions in your plan.
 
 

 Break up big tasks

Break up all major tasks into the smallest subtasks possible. Understand the relationships and dependencies of the subtasks.
What to do
Keeping up with an organizer that holds every subtask plan effort will permit better work management.
Most people think they can get away with just creating mental notes, but that’s not good planning. Plan time to be pulled away from what you’re doing.
 

Avoid distractions

Easily the hardest thing to do all day at work is to be able to continuously focus.
We all struggle with distraction, but being able to get back on the horse and stay focused is a great talent.
What to do
Learn how to improve your ability to say no effectively.
 

The bottom line

Remember this. Everyone in the managing work tasks business will tell you the same thing. Anticipate and plan for the unexpected.
It is very difficult to manage your work until you have established your sense of priority and purpose. Get the details of your plan worked out as early as possible.
 
SMASHING BRAND IMAGE
Looking to create a smashing brand image?
Do you have a lesson about managing your work better you can share with this community? Have any questions or comments to add to the section below?
  
Need some help in capturing more improvements for your staff’s work management skills, teamwork, and collaboration? Creative ideas for running or facilitating a project management workshop?
  
Call today for a FREE consultation or a FREE quote. Learn about some options to scope your job.
All you get is what you bring to the fight. And that fight gets better every day you learn and apply new ideas.
When things are not what you want them to be, what’s most important is your next step.
 Test. Learn. Improve. Repeat.
 
Are you devoting enough energy continually improving your continuous learning?
 
Digital Spark Marketing will stretch your thinking and your ability to adapt to change.  We also provide some fun and inspiration along the way.    

More reading on business challenges from Digital Spark Marketing’s Library:

Adaptation … 5 Awesome Business Examples for Study

9 Secrets to the Chipotle Culture and Employee Engagement Success

How to Change the World … 9 Amazing Ways

 
 

Fool-Proof Tactics to Find More Growth Sweet Spots

Many successful small businesses were started by entrepreneurs with the ability to see a trend before everyone else. They were able to take their insight and capitalize on it in a new and creative way. Businesses from Uber and Lyft to Airbnb and HomeAway are just some of the most recent examples of entrepreneurs benefiting from growth sweet spots. But just because it’s been done before doesn’t mean it is easy to find more growth sweet spots and capitalize on them.

Smart entrepreneurs are always looking for an edge. They want to know how they can identify trends and how they can use that skill to build and grow a business. Fortunately, there are steps you can take to develop this skill yourself.

The Fundamental Growth Elements

There are three fundamental elements that drive all trends:

  • Basic Needs
  • Drivers of Change
  • Innovations

The secret ingredient of trends however isn’t actually any of one of these elements. Rather, it’s the tension created as the three elements interact with one another. This tension can best be identified by understanding customer expectations and by looking for gaps between what customers want – both now and in the future – and what they are currently being offered.

Understanding this enables you to hit the sweet spot of trend-driven innovation with your new offering – when you beat customers’ expectations and resolve this tension.

Here are ten keys to find growth sweet spots:

Anticipate change

I frequently remind coaching clients that the only constant is change. Believe it. Assume that change is coming and look for it. Change can be either social — as in the rise of socially responsible business — or technological, as exemplified by the growth of mobile commerce. Sometimes change can be both. Social media is a great example of that.

The basic tools of the growth trend tracker are seeing, hearing, smell, taste, and touch. In other words, every sense that can be used to get information about the world should be employed in looking for upcoming changes. Start by reading and watching everything you can. That should include general interest news outlets, trade publications, blogs, government reports, and casual conversations overheard in elevators. Be especially alert for problems people are talking about.

Consider using trend-tracking tools like Google Trends, Topsy, and Trendhunter to help you zero in on trends that are worth investigating further. You won’t be the only entrepreneur looking for business ideas on these platforms, but you can use them to dig deeper to validate hunches.

Listen and observe

Today, there’s too much broadcasting and not enough receiving. Everyone is focused on pumping out information, but turning off our own signal and receiving and digesting, that’s a skill that has gone away.

I like to immerse myself in a topic by reading about it. I dedicate an hour in the morning, and again before I go to sleep, to reading. I actually schedule it

Look beyond your own boundaries

You have to look around and ask yourself: What are the general trends going on, even though they haven’t affected my business yet?. Early this century you might have noticed that people weren’t yet ready to buy music by the download, but the way they found new music was shifting. I thought, today it’s record labels, but I can see how companies will become major players launching new music, such as Apple through its commercials, or Starbucks with its stores. I saw a trend where people weren’t necessarily interested in discovering music by walking into a record shop or watching MTV anymore.

 

Be realistic

An online retailer that aims to beat Amazon at its own game is unlikely to show up on top of any fast-growing startup lists very soon. Make sure the solution you envision is one you can realistically provide with features and costs that will compare favorably to established alternatives.

Again, it’s vital to talk to potential customers. Don’t just brainstorm in-house. What you can do conveniently and inexpensively may be of little value to customers. The sweet spot for a trend-exploiting startup is at the intersection of business capability and customer need.

 

Create a competitive advantage

To get the biggest benefit, be the first mover. It is rare for any single entrepreneur to be the only one who sees an opportunity. Most will hesitate and not move at all. Many others will not move swiftly enough. Lasting competitive advantage usually goes to the first entrant to stake a market out and capture customer loyalty. Those who come later usually have to settle for slimmer profits and more competition.

Being first is not enough, of course. Business history is littered with well-financed startups directed by well-regarded leaders who committed too much, too early, and in the wrong place. So test before committing. Again, look for revenues that overwhelm costs and customers who are overjoyed.

 

Choose Your Sources

Just as it took multiple sources—bloggers, Facebook, word of mouth—to realize that the time is ripe to visit Colombia, spotting a trend in other industries is much the same.

As you put together a list of blogs, news sites, social media channels, and other sources, here are some tips to help you hone in and filter extraneous content:

 

Follow Trustworthy Thought Leaders

When selecting your sources for news and information, find reputable resources you can trust. These are people who are experts in their field, brands whose information you find to be reliable and valuable.

I follow a number of travel bloggers who have been in the business for years. Most of them I’ve found through other people I follow or trust. When their blogs are too gimmicky or inauthentic, I stop reading. Be selective and filter out the noise.

 

Take care on choosing sources

Just as it took multiple sources—bloggers, Facebook, word of mouth—to realize that the time is ripe to visit Colombia, spotting a trend in other industries is much the same.

As you put together a list of blogs, news sites, social media channels, and other sources, here are some tips to help you hone in and filter extraneous content:

Look Outside Your Industry

In addition to watching what’s going on in your own niche, it often pays to expand your horizons. Our world is so interconnected, true trends pop up everywhere. Keeping an eye on developments in other fields can sometimes be key in predicting changes closer to home.

The bottom line

To be effective in this new era of trend spotting, we as marketers need to see our jobs differently. No more just focusing on metrics like clicks, video views or social media shares.
Today we need to manage not for stability, but for disruption. So instead of just planning against established metrics, we also need to continually ask what we’re doing to explore the unknown.
Not all who wander are lost.
We must successfully integrate our function with other business functions to create entire trend experiences that serve the customer all the way through their experiences throughout the business.
We can do better. Much better. But first, we need to stop seeing ourselves as crafters of clever brand messages and become creators of positive trend spotting.

How to Employ Best Practices of Trend Spotting

Many successful businesses were started by entrepreneurs with an ability to employ the best practices of trend spotting to see a trend before everyone else. They were able to take their insight and capitalize on it in a new and creative way.

best practices of trend spotting
Best practices of trend spotting.

Businesses from Uber and Lyft to Airbnb and HomeAway are just some of the most recent examples of entrepreneurs benefiting from emerging trends. But just because it’s been done before doesn’t mean it is easy to see trends first and find ways to capitalize on them.
Smart entrepreneurs are always looking for an edge. They want to know how they can identify trends and how they can use that skill to build and grow a business. Fortunately, there are steps you can take develop this skill yourself.
How do some people seem to know about the next big thing way ahead of everyone else? Because they know how to recognize early signs of change.

How do we define a trend?

A trend is a general tendency or direction in which something’s going to move, develop or change. It’s defined by a shift in mentality or behavior that then influences a significant number of people.
They are not to be confused with ‘fashions’ or ‘fads’ which increase dramatically followed by an almost immediate decline. Trends last much longer and have a much greater impact on society than either fashions or fads.
It’s important to be on the lookout for the newest trends so you can plan more effectively for the future and introduce more successful initiatives to your business. By focusing on what will happen next, you can make more informed decisions in less time, saving a lot of energy and money in the long run.

 Know objectives

Firstly, you shouldn’t dive into spotting trends before you know why you’re spotting them and what you want to achieve.
For example, are you looking to find an idea that will make you money, or that will encourage your existing target audience to spend more with you? Who are you targeting? Establish your goals and chosen industry before you move forward.

Connect the dots

Once you’ve collated information and the latest news from your chosen area, you can start to group articles together, assess and find connections between the elements.
Some great tools for collating and bookmarking your findings:
  • Evernote – A great tool that lets you assign photos, docs, scans, notes, for future reference.
  • Pinterest – A great content sharing service that allows members to “pin” images, videos and other objects to their pinboard for future reference.
  • Delicious – An online social bookmarks manager that lets you save, organize and discover interesting links on the web.
  • Freemind – great free tool for creating mind maps
  • Old fashioned pen & paper, sticky notes & whiteboards!

spotting trends
Spotting trends.

Test assumptions

Once you have connected the dots between your findings and found re-occurring themes and connections, you can then assess the potential trends to see how they are doing in the current landscape. This can lead to making potential predictions for the trends future. The following are useful in this regard:
Google Keywords: By using Google keywords you can see the average number of searches that your potential trend is typed into Google each month, and compare them to other trends and keywords.
Google Trends: Google Trends is really good for seeing the fluctuation of trends, how well they’ve done in the past, how well they’re doing now and make predictions of how well they’ll do in the future.
Then ask yourself the following:
  • What are the needs that the trend satisfies (is it a trend or fad)?
  • How many people won’t be able to or be interested in taking advantage of the trend?
  • What will affect the speed of the trend?
  • Where is the trend now – who are currently using it on the innovation curve?
 

Listen and observe 

Today, there’s too much broadcasting and not enough receiving. Everyone is focused on pumping out information, but turning off our signal and receiving and digesting, that’s a skill that is rapidly disappearing.
I like to immerse himself in a topic by reading about it. I dedicate an hour in the morning, and again later in the day, to reading. I schedule it.

Look beyond your boundaries

You should look around and ask: ‘What are the general trends going on, even though they haven’t affected my business yet?’ Be sure and look well beyond your boundaries.

Anticipate change

I frequently remind clients that the only constant changes. Believe it. Assume that change is coming and look for it. Change can be either social — as in the rise of socially responsible business — or technological, as exemplified by the growth of mobile commerce. Sometimes change can be both. Social media is a great example of that.
Don’t forget the cyclical, up-and-down, back-and-forth nature of business while you are looking. Change doesn’t have to be permanent to provide a viable opportunity for business creation and growth. When the real estate crisis hit in 2008, construction activity shrank, and many people were forced to make do with what they had.
But trend-spotting entrepreneurs were able to adjust their plans depending on the market. For example, savvy interior designers marketed their services to those who wanted something new but couldn’t find or afford a new home.
The basic tools of the trend tracker are seeing, hearing, smell, taste, and touch. In other words, every sense that can be used to get information about the world should be employed in looking for upcoming changes.
Start by reading and watching everything you can. That should include general interest news outlets, trade publications, blogs, government reports and casual conversations overheard in elevators. Be especially alert for problems people are talking about.
Consider using trend-tracking tools like Google Trends, Topsy, and Trendhunter to help you zero-in on trends that are worth investigating further. You won’t be the only entrepreneur looking for business ideas on these platforms, but you can use them to dig deeper to validate hunches.

Distinguish between short-lived and long-term

Strive to identify big changes that create lasting problems that lots of customers will be happy to pay to solve. The idea is to wind up with a business model in which revenues are much larger than costs for a long period, not one that limps by on slender profit margins before competitors take even that away.
To filter out ads, talk to the potential buyers of the solution to the problem. The more frustrated they are, the more likely they are to pay for a solution.
In extreme cases, potential customers may be willing to fund the development of solutions. Also, talk to experts. While they may not be able to write checks, they can provide insights and point to possible solutions that customers could not even imagine.

Best practices of trend spotting … be realistic

An online retailer that aims to beat Amazon at its own game is unlikely to show up on top of any fast-growing startup lists very soon. Make sure the solution you envision is one you can realistically provide with features and costs that will compare favorably to established alternatives.
Again, it’s vital to talk to potential customers. Don’t just brainstorm in-house. What you can do conveniently and inexpensively may be of little value to customers. The sweet spot for a trend-exploiting startup is at the intersection of business capability and customer need.

Create a competitive advantage

To get the biggest benefit, be the first mover. It is rare for any single entrepreneur to be the only one who sees an opportunity. Most will hesitate and not move at all.
Many others will not move swiftly enough. Lasting competitive advantage usually goes to the first entrant to stake a market out and capture customer loyalty. Those who come later usually have to settle for slimmer profits and more competition.
Being first is not enough, of course. Business history is littered with well-financed startups directed by well-regarded leaders who committed too much, too early and in the wrong place. So test before committing. Again, look for revenues that overwhelm costs and customers who are overjoyed.
For every trend that supports a future startup star, any number go ignored, leaving potential customers searching for solutions and opportunities for established companies to fill their needs. But it only takes timely identification of one trend to get a startup in flight, and these techniques can point you to the one you need.
There is no silver bullet when it comes to spotting trends. Trends reveal themselves over time from a variety of places. Spotting a growing pattern means you must have your eye on multiple sources long enough to notice changes. This takes some intentionality, but it doesn’t have to tie up all of your time.

Spotting trends

As a blogger in the world of transformational travel, I follow like-minded bloggers online and develop personal relationships with other travelers who share my values.
Why? Because these folks filter all the overwhelming noise and deliver me information that I care about.
Often, I’ll start to hear more and more about a particular destination from various bloggers and travelers who aren’t connected to each other. This is the first inkling of a trend.
A handful of bloggers will visit the same spot and write about it. Then I’ll hear a former student of mine raving about their recent trip to the same place. Next, two different friends on Facebook are sharing pictures from this place.
These are destinations that, not too long ago, had almost no tourism to speak of. No one particularly wanted to go there. But pretty soon, the destination became almost mainstream.
Costa Rica became a very hot destination several years ago. Then Croatia was getting a lot of attention. In a recent trip to Ecuador, every long-term traveler we met had either just come from Colombia or was planning to go there. And every one of them loved it.

Disney Trend Spotting Best Practices: Obtain Trend Results Like an Expert

When I’m tuned into the people I care most about, and all of them are talking about the same thing, I know it’s worth paying attention to. The result of uncovering this growing trend for Colombia is that now it’s at the top of my list. I can be sure to travel there while it’s still relatively “untouched”—before it becomes overly touristy and travel prices get inflated.

Take care of choosing sources

Just as it took multiple sources—bloggers, Facebook, word of mouth—to realize that the time is ripe to visit Colombia, spotting a trend in other industries is much the same.
As you put together a list of blogs, news sites, social media channels, and other sources, here are some tips to help you hone in and filter extraneous content:

Follow trustworthy thought leaders

When selecting your sources for news and information, find reputable resources you can trust. These are people who are experts in their field, brands whose information you find to be reliable and valuable.
I follow some marketers who have been in the business for years. Most of them I’ve found through other people I follow or trust. When their blogs are too gimmicky or inauthentic, I stop reading. Be selective and filter out the noise.

Look outside your industry

look outside your industry
Look outside your industry.

In addition to watching what’s going on in your niche, it often pays to expand your horizons. Our world is so interconnected; true trends pop up everywhere. Keeping an eye on developments in other fields can sometimes be key in predicting changes closer to home.

The bottom line

To be effective in this new era of trend spotting, we as marketers need to see our jobs differently. No more just focusing on metrics like clicks, video views or social media shares.
Today we need to manage not for stability, but for disruption. So instead of just planning against established metrics, we also need to continually ask what we’re doing to explore the unknown.
Not all who wander are lost.
We must successfully integrate our function with other business functions to create entire trend experiences that serve the customer all the way through their experiences throughout the business.
We can do better. Much better. But first, we need to stop seeing ourselves as crafters of clever brand messages and become creators of positive trend spotting.

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Check out these additional articles on market trends from our library:
Lessons from the Yale Customer Insights Conference
Generational Differences … What Matters for Marketing Campaigns?
The Story of How JetBlue Turns Customers into Advocates
An Actionable Approach to Target Market Segmentation?
 
Mike Schoultz is a digital marketing and customer service expert. With 48 years of business experience, he consults on and writes about topics to help improve the performance of a small business. Find him on G+, Facebook, Twitter, Digital Spark Marketing, and LinkedIn.