Sources of Insights and Trends

Paul Sloane — Mon, 25 Oct 2010 15:41:30 +0000

How can you keep up to date with the latest trends and directions in your industry? There are so many sources of potential information that you can be overwhelmed. You should certainly watch, listen and learn from the following:

1. Your customers

2. Your frontline staff (sales, marketing and customer service in particular)

3. Your competitors

4. Your trade magazines, shows and websites

There are also some generic trend watching sites that are worth browsing. Check out the following and see which are most useful in your sector:

Fuld – Business and Competitive Intelligence

Outward Insights – Competitive Intelligence

PSFK – Trends and creative ideas in popular, consumer and business culture

Springwise – Entrepreneurial ideas from around the world

Trendhunter – Trends and cutting edge ideas

Trendwatching – Scans the world for emerging consumer trends

The future is already here. You have to be receptive to weak signals to find it. These sites might help. You do not have time to read them all but you cannot afford to be unaware of key trends that affect your business so you have to be selective. Good trend hunting!

Paul Sloane

Trends that will increase or inhibit innovation.

Paul Sloane — Fri, 29 May 2009 09:50:08 +0000

Today I attended a business breakfast hosted by the Institute of Directors West Surrey branch in Guildford. It was run by the indefatigable Chris Ragg. You get a good breakfast and plenty of lively business people to network with. One of the topics we were asked to review was ways in which the future will be quite different. Among the many things that came up there were some that will promote the need for innovation and some that might well inhibit innovation.

Some of the forces that will increase the need for innovation were:

1. Increased competition – particularly in services.

2. Increased consumer knowledge and choice.

3. Demand for sustainable green solutions.

Some of the forces that may inhibitit innovation and entrepreneurial activity were:

1. Higher levels of taxation will deter risk taking and start-ups. Why leave a comfortable job and risk starting a new business if the government is going to take over half the profits?

2. Banks will remain cautious about lending for some time.

3. With higher taxes and lower pension pots many people will defer retirement and work into their 60s and 70s. This could lead to an older generation of leaders who are more cautious and risk averse.

4. General uncertainty about the economic and political outlook.

I believe that innovation is imperative in private and public sector organisations. It remains the best way to cut costs, improve services, increase competitive advantage and to survive. However, we need to recognise and counter the forces that will increase caution and deter risk taking and entrepreneurial activity.

Paul Sloane

BQF Innovation Blog » trend

Sources of Insights and Trends

Trends that will increase or inhibit innovation.