Lets Know About Top Tech Trends That Will Help Your Focus
In Minneapolis, more than 5 percent of people bike to work. The bike culture has spawned a winter bike expo, a bike-related art poster fair and supports a community of artisan bicycle makers, independent bike retailers and accessory makers.
Shops like A Train Cycles, Appleman and Peacock Groove (no relation to me) turn out a variety of bicycles, including some designed for riding in the Minnesota snow. Brake Bread will even deliver fresh-baked bread by bicycle right to your door.
Today’s consumers crave unique and personalized products and services, and businesses like these are part of a massive new opportunity for small businesses to take on the big guys.
The bulging beer cooler at your neighborhood market is another perfect example. Craft breweries quadrupled their share of the U.S. beer market from about 5 percent in 2008 to now more than 20 percent, according to the Craft Brewers Association.
Niche grocers also are grabbing share. Fueled by hyper-localization and specialization — think local honey and small batch hot sauce — natural/gourmet stores are projected to grow 6.8 percent annually over the next four years. That’s more than double the growth expected for discount stores, according to a recent Nielsen report.
The North American Handmade Bike Show has grown to 180 exhibitors and thousands of attendees from its beginnings in 2005, when 23 exhibitors showed off their wares for 700 biking enthusiasts.
No matter what the business, today’s consumers want something unique. That means the huge scale of big chains and corporations has turned from an advantage to an Achilles heel that small businesses can take advantage of. It might seem daunting, but the opportunity is real.
According to a new study from QuickBooks, this rising demand for niche products and services is one of the key trends small businesses can leverage to drive success and tap new markets.
Access to world-class business infrastructure, valuable data, a talented pool of on-demand employees and cost-effective online advertising are also leveling the playing field for entrepreneurs who take advantage of them, according to the QuickBooks Future of Small Business report.
What I love is that these technology-driven shifts complement what has always been the essence of small business success — passion, community (now either physical or digital via social networks) and the personal touch. Technology has just set them on fire.
Custom wheels: The rise of the artisan bike shop.
Today’s consumers are not just looking for a product or a service. They are looking for experiences and personalized service, and they expect to be given the opportunity to shape the products and services they use. All of those things are right up the power alley of small businesses. That’s part of what has driven the rise of the artisan bike maker.