Related Topics
Categories
Companies

Recommend Print

Strategy

Taskmaster: Industry Changes in Business - Look 10 Years Ahead

Look 10 years ahead

By Taskmaster
Thursday, 17 February 2011

TaskmasterFor many the collapse into bankruptcy of bookselling chain Borders was hard to believe.

 

Here was a company that for so long had been a giant in its category – a company which steamrolled through country after country, taking out mum-and-dad booksellers in each suburb where it set up shop.

 

But Borders made a big mistake, it failed to read the signs that its market was about to change forever.

 

Online retail, eBooks and a move towards specialist retailers are all trends Borders failed to spot quickly enough and failed to react to.

 

So here is your challenge. Sit down for an afternoon, perhaps with a few members of staff or a mentor or board member, and try to look 10 years ahead at the changes that could impact on your industry.

 

Think about technology changes that might be just emerging. Will they last or fade?

 

Think about consumer tastes. How could they shift?

 

Think about the competitive landscape. Who will stick around and who will depart?

 

It’s not easy and you won’t be right about everything.

 

But doing this sort of exercise regularly will at least keep trend-spotting at the front of your mind.

 

Get it done – today!

Comments (0)

Subscribe to this comment's feed

Write comment

You must be logged in to post a comment. Please register if you do not have an account yet.

busy

FREE DOWNLOAD - 101 tips for start-up entrepreneurs

Covering everything from starting up to sales to social media strategies, this advice forms a fantastic guide that will be of use to anyone starting up in business.


Register for the StartupSmart Newsletter and immediately receive '101 tips for start-up entrepreneurs'.


Your email please (*)

Invalid Input
101 tips for start-up entrepreneurs

Free Newsletter


Invalid Input
Join the StartupSmart community

Follow us

StartupSmart on Twitter StartupSmart on Facebook StartupSmart on LinkedIn

Subscribe to StartupSmart RSS feeds

Events


Sponsored Links

Our Partners