The Easiest Way To Start A Company
The Easiest Way To Start A Company. Steve Jobs ability to look forward from iPods to digital music drove Apple’s growth. (Photo by Justin Sullivan/Getty Images)GETTY IMAGES
There’s nothing like being in the right place at the right time. Smart companies spend big money on research and development to ensure that their offerings are up to date and to make sure they don’t miss out on lucrative new opportunities.
Traditionally, this practice has been the sole stomping ground of qualitative and quantitative research firms, but not anymore. After all, nobody anticipated that trend-spotting itself would become a trend. Of course, forecasting and analyzing trends is not new. What is new is the emergence and widespread adoption of trend-spotting by organizations as part of their innovation processes and as a way to anticipate what their customers will want in the future.
Why is this happening now? Many business leaders have lost confidence in traditional consumer research methodologies, especially when applied to innovation. Did Borders see Amazon coming? Why not? Why didn’t Blockbuster react to the early emergence of Netflix? Why didn’t Gillette see Dollar Shave Club? How did Nikon miss the “GoPro” social media trend? How did the entire entertainment industry miss digital music? What’s happening now is the convergence of technology and the increasing acceleration of business and this is driving senior executive’s quest for certainty and security in an unsure business world. The problem is they are so focused on their everyday business, they might not see a disruptive trend coming.
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