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It's 2014 - What Are The Business Trends?

Each year, I take the opportunity to look to the experts to see where they feel there will be new growth/new opportunities. While the executive search industry is considered to be a leading economic indicator, each firm's micro-view only tells part of the story. There are numerous websites that provide this future-focused information. These include (to name a few):

The best list I found this year regarding 2014 business trends comes from Business News Daily™ - specifically from their article titled, "14 Best New Business Ideas for 2014." Here is a preview . . . . it is worth going to the article for details to truly understand what will be 'hot' for the coming year (and beyond).

Multi-year trends

If you look to the past regarding other lists from previous years, you will see long-term trends start to appear - and see that these lists need to be looked at in a long-term manner, realizing that the impacts of these businesses are truly multi-year and interactive in nature.  Here are some of 2014's likely growth sectors/ideas:

  1. Recycling Pickup - the focus will be electronics and batteries (so far very neglected)
  2. Software Trainer - training others in software in which you are proficient
  3. Healthcare Consulting - management and data analysis for business and individuals
  4. Food Truck - revenue is projected to be $2.7 billion by 2017 (no suggestion that you become a driver or chef; think supply chain, etc.)
  5. Freelancing - companies are turning to freelance and contract workers to fill skill gaps
  6. Mobile Consulting - mobile is now NON-negotiable; be where your customers are - it is a competitive advantage
  7. Translator - demand for interpreters and translators is growing in both government and business
  8. Employee-Monitoring Services - services to track employee hours for billing and payroll services (especially for remote/non-office employees)
  9. Travelling Salon - think seniors and their need for services (senior services has truly been a multi-year trend to track - and enter as a business)
  10. Vending-Machine Business - time-constrained and health-conscious people are looking for alternatives to pop and chips
  11. Smartphone Repair - a broken screen no longer means the need for a new phone
  12. Contracting - there is a growing shortage and increasing need for electricians, roofers, etc. as the economy continues to slowly improve
  13. Testing Services - for BEFORE websites and business applications go 'live'!
  14. Business Services - companies have cut staff, but still need services as the economy improves

What does this mean for you as a business owner, entrepreneur or job seeker?  Let me answer by ending with a quote from Will Rogers regarding taking action:

  • Even if you think you are on the right track, you’ll get run over if you just sit there.