Entrepreneurs need to stay ahead of trends – it’s vital to their existence… early entrants to any market reap high margins. And trends vary by demographic of course. As such, entrepreneurship requires us to consistently research what’s going on with kids’ social trends and grandparents’ lifestyle choices. There are opportunities all around us, but we won’t know it unless we know what to look for and who to ask.
The world has become a connected place – all demographics are online in one form or another; and it will only increase with the advent of the Internet of Things. Seniors have now embraced mobile phones and apps, while every tween Snapchats and Instagrams. Typically, the kids lead the charge on social tech, inevitably finding its way into the hands of adults.
Food choices, for example, trend the other way. Adults govern diet trends and kids follow.
Simply put, knowing who to watch will help when planning your business ideas.
With that in mind, I was listening to a great podcast with Tim Ferris and Marc Andreesen recently, and heard a very valuable takeaway.
Nerds Are Cool… And Rich
For those who aren’t aware, Ferris (awesome twitter feed) is a life-hack specialist, best-selling author and investor, while Marc Andreesen is among the top Silicon Valley venture capitalists in the last twenty years.
About half way through the podcast, when the two were talking about how they find new startup investments, Andreesen said if you want to know what everyone will be doing tomorrow, pay attention to what the nerds are doing on their weeknights and weekends today…
By nerds, Andreesen meant the programmers and engineers. These folks are always way ahead of the next great consumer product or game. They’re the ones who make it, after all.
Simple advice, and sound. This is why, whether you’re an entrepreneur who runs restaurants, builds homes, or simply an investor, it pays to read tech, lifestyle and various niche blogs you may not be directly involved with. I’ll provide a list of some of the best niche blogs I follow in an upcoming post. It’s shocking how many times I’ve merged an idea from an entrepreneur in a totally different niche than me into my line of work with great success.
Early bird gets the worm.
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