What is your business idea for 2017

Trends in business ideas

Finding the right business idea can sometimes be difficult. In the process, trends emerge again and again that entrepreneurs and self-employed people can jump on. Because if you want to be successful with your self-employment, you need one thing above all: a well-thought-out business idea. When looking at the sustainability of a start-up, social and economic trends should therefore not be disregarded. Trends that have a high level of acceptance among the targeted target group can act as an effective sales driver.

Sustainability and corporate responsibility

For some years now, business ideas that are seen as sustainable by the target group and show corporate responsibility have been particularly successful. For example, all trends relating to the topics of organic and the conservation of resources (sustainability). Here it is up to the entrepreneur to communicate clearly to the outside world that all entrepreneurial activities are aimed precisely at this and thus offer the target group real added value. Business start-ups can score points here, for example, with products that enable residue-free disposal or that consist entirely of used and recycled materials. From many consumer studies it can be clearly seen that high-quality products that are ecologically sustainable are meeting with increasing demand from customers. That is why sustainably produced products are said to have great potential today and they will remain one of the most important and influential trends in the future.

Customization

Individualization is also one of the most important trends today. Almost everywhere, customers have the option of customizing the products they have purchased according to their own wishes and ideas. It starts with the personal engraving on a piece of jewelery, continues with self-created perfumes and self-configured new cars through to individually compiled favorite muesli. When developing and realizing their business idea, founders should therefore keep in mind that customers nowadays love to buy products that are (perfectly) tailored to them. This increases the added value for them and they are therefore also willing to pay higher prices - even if the actual product is not significantly more expensive than the standard product. But this is exactly where the entrepreneurial opportunities for founders, self-employed and entrepreneurs lie. You could almost break it down to the rule of thumb: What the customer can individualize is successful. Incidentally, it does not matter whether it is a product that is as sustainable as possible or a professional service. Therefore, founders should definitely ask themselves how their future offer can be turned into a real unique selling point through the possibility of individualization.

Trends towards luxury

The trends towards luxury should also not be disregarded, especially those who, as founders, aim for a more affluent target group. With this strategy, however, one should take into account that in times of economic bad or even high-priced products there is less demand. With this strategy, founders and self-employed people should analyze their target group very well and know their needs very well. Luxury products can achieve very high profit margins with a little entrepreneurial skill, which in turn leads to successful business development and therefore belongs to one of the trends that are almost timeless. Here, too, it is worth keeping an eye on the options for customization. The buyer of a luxury product can use it to make his good taste clear to third parties.

Sale of used things

This, too, is one of the trends that explains the success of many Internet platforms. Trading in used goods, things and objects can be a very successful business model. Because here, too, one of the trends described above applies: namely that of sustainability. Why should a customer spend a lot of money on a new product when, for example, they only have to spend half of that on a used product that is in very good condition? The range in this area is now very large, but anyone who finds a sought-after niche and can offer high-quality products can still run a very successful business here.

Sharing: renting instead of buying

Sharing is based on the above principle. Why should I buy a product expensively when I can also rent it for (possibly one-time) use. Selling used things and renting instead of buying is one of the major social trends at the moment. Basically everything can be rented that is needed and for which there is a demand (target group). Internet-based rental platforms for children's toys, handbags, suitcases and designer clothes are currently very successful. Cars and bicycles can now also be rented flexibly in many German cities at attractive conditions. In the area of ​​mobility in particular, there are still many unresolved questions about transport concepts - beyond cars and local public transport. Urban mobility is therefore one of the groundbreaking trends in the years to come.

Short-lived trends

As quickly as trends emerge, they also disappear again quickly. Without careful planning, the implementation of a business idea will not be successful in the long run - even if it fills a niche in the market, however attractive, forward-looking and promising. The trends presented here are of course only rough framework conditions. It is up to every founder to concretize this through strategic planning. Sooner or later there will always be competitors in the market who will woo potential customers. If you want to be successful, you always have to be one step ahead of your competitors. In addition, entrepreneurs should be aware that product cycles that follow certain trends can be very short. A really good business idea has to be designed so flexibly that it can be quickly adapted to the target market and changed customer behavior. Only then will founders and self-employed people be successful in the long term.

/ by Guido Augustin