|
 Print Friendly
 Email to Friend
|
|
Spot The Next Hot Trend
|
|
Article 4: How To Capitalize On Trends
Although it’s wonderful to be first, you don’t need to be a trendsetter to capitalize on a trend.
Once a trend is underway, it’s fairly easy to identify. Your challenge – and profit – lies in your ability to find the trend within the trend. In other words, how will today’s tendency play out tomorrow?
This nuance, the ability to identify what will become substantive rather than froth, is where greater profits are made.
For example, it doesn’t take a genius to identify the trend of the increasing reliance by the aging on health care services. The knack is in identifying the market niche within that trend that promises greatest growth and profitability.
With more folks sickly and in need of more nurses, one might conclude it would be profitable for a business to cater to the nursing market. But there are reasons there is a shortage of qualified nurses.
In a price-controlled market like health care, nursing pay remains relatively low, and training to become a certified nurse is lengthy and relatively expensive. The likelihood is that there will be a shortage of nurses for some time in the future. So, if you’re considering selling to nurses because you assume the health care trend will create many more of them, you may be guessing wrong. Focusing on the nursing niche is not a good idea if it’s unlikely to grow and generate greater profits.
However, the home-care niche within the healthcare industry is growing and unlike nursing has a greater likelihood of enough people to provide its services.
Home-care attendants don’t need the lengthy training or education that registered nurses do, and increasingly their services are paid for by health care programs that want to move patients out of expensive hospitals and into less costly venues, like their own homes.
If you wish to capitalize on the health care trend, it may make more sense to focus on providing products and services to a market segment like home care, which has fewer obstacles and is growing, rather than to registered nurses.
|
|
|
|
|
|
|
|
|
|
|
