September 30, 2016

Will You be Taking Part in These Future Small Business Trends?

Publisher Channel Content by
Nextiva


2015 small business trends

This year will be an important one for every small business as powerful trends shape the direction of the economy. Here are the shifts that companies can expect:

Less Employees, More Freelancers

The nature of work has profoundly changed. Small businesses now are easily able to match new revenue to needs in increased resources. This means less permanent employees and more part time resources. This is a beneficial small business trend that enables the small business owner to make their workforce a variable expense as their sales goes up and down.

Less Office Employees, More Remote Resources

While it can be comforting for small business owners to look out from their office and see their team, this version of the company is a thing of the past. Instead, all managers need to get comfortable with leading and building a team culture with remote resources that they do not see every day.

Less Email, More in Person Meetings (or at Least Video Chat)

People have opted for email instead of phone calls. But the small business trend this year will be to have more in person meetings with employees, vendors and customers as everyone wants to make true connections that build lasting relationships.

Less Apps, More Dashboards

Apple and Android apps have become ubiquitous. According to a recent Intermedia study, 14.3 is the average number of apps per small business and it’s hurting employee productivity. Companies will begin to use more dashboards to integrate these apps to track the key metrics of their business. These include tools like iDashboards.

Less “Bring Your Own Device” (BYOD), More Company Issued Phones

In recent years, small businesses have saved money by having employees conveniently use their own smart phone device for business. This has resulted in many security issues. The new small business trend is for companies to spend the extra money to issue business only devices. They are then able to load only approved applications and keep tight security on those smartphones.

Less Data, More Analysis

Small business owners are flooded with disparate data that they don’t understand. The new small business trend is moving away from just data to more analysis of what it all means. Key tools include Power BI from Microsoft, Qlik and Tableau. These applications can integrate much of the company information into something that can be used by management.

Less Features, More Relationships

With the spread of information almost instantaneously worldwide, there are less differences in product features. The customer can always choose the lowest price. The focus in the future will be to continue to service the customer to build value in a personal long term relationship that ensures loyalty. This includes less mass marketing and more one-on-one personalization through technology.

Less Secrecy, More Transparency

With social media instantly communicating and every phone having a camera, nothing in business is a secret any longer. This will force every small business to be much more transparent in dealings with customers, employees and product developments. This will also boost more social responsibility for these companies.

Less Organic Social Posts, More Boosted Advertising

With the sheer glut of millions of posts every day clogging feeds, small business owners will be forced to boost their message through social media paid advertising on all the major platforms in order to be seen by their customers.

Less Bank Loans, More Peer to Peer Lending

Even though bank loans will continue to grow from the depths of the Great Recession, small businesses will now get more of their capital from sites like Fundera that will help choose the best alternate source.

What small business trends do you see in the coming year?

Future Photo via Shutterstock

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Barry Moltz


Barry Moltz Barry Moltz gets small business owners unstuck. With decades of entrepreneurial ventures as well as consulting with countless other entrepreneurs, he has discovered the formula to get business owners marching forward. His newest book, BAM! shows how in a social media world, customer service is the new marketing.

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17 Reactions

  1. Interesting trends, but I would certainly argue about less organic social posts – they never grew old or unfashioned and are useful for an business, as to the others – I mostly agree – relationships is a King and this trend will only row as well as remote work

  2. I definitely see the need for paid social promotion, but continuing to do organic posts would be wise because you can still get good reach if people interact and share with it.

  3. I like the tips for less Secrecy & more transparency, at the same time building stronger relationship, basis on these ideas a strong business trend can be laid.

  4. I definitely agree with the uptick in company issued devices, such as phones or tablets. It seems like this growing practice is the reason for the existence of entire products, such as Bushel, that give control to the company to manage everything on said devices. Do others tend to agree or do you see this fracturing of the market and extra expense as an issue?

  5. Barry, I really liked what you said below Less Features More Relationships about building personal long term relationships.

  6. Great article, but I don’t believe there’s an outstanding need to have to pay to boost your social media promotions. You just have to go about what and how you post the right way.

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