3 Ways to Spot the Next Big Thing
Remember Kodak, all of us ’90s kids will remember. Most of us used Kodak’s frame to take still pictures. In the 2000s as the world took a stride towards digital photography it was Kodak that had patents in digital photography. How was it possible? Because they embraced the change with open arms.
You can’t rely on yesterday’s success in order to live today and tomorrow. You cannot be content. Just know you have to change with the tides. This is what Dr. Niranjan Hiranandani believes in. He himself hails from a humble background but through hard work and his never-give-up attitude he made it today — as the king of real estate. But he doesn’t stop here. He wants to achieve bigger and better things. So, today let’s find out what he has to say regarding how to spot the next big thing.
1. Keep your ears to the ground
You should be aware of what’s going on in and around you. The world is changing, and being prepared to take steps with it is essential. Go online and find out what’s the big thing about to happen or is in the process of happening. Like, at present, AI is tremendously popular and is leading the way to a lot of debates and discussions. Make yourself useful in that way. Interact with customers and find out what they want or care about. That might give you a suitable lead from where to start.
2. Keep knowledgeable people closer to you
Meet people who have more knowledge than you. People who know more than you are the people you keep closer to yourself. Interact with them, ask what they are doing. Even in the sectors where you are an expert, where you are supposed to be the king, do not stop learning. Don’t assume that what you know is the ultimate knowledge. Someone else might know more. Someone who is younger than you. Take in those pieces of advice as well. Improve yourself. Once you are habituated to be a learner you will always learn.
3. Understand consumer behavior
To spot the next big thing, it’s crucial to understand consumer behavior. Consumer preferences, needs, and desires are constantly evolving, and keeping a close eye on these changes can lead to innovative ideas. Start by conducting market research to identify gaps and opportunities. Surveys, focus groups, and social media monitoring can help you gain insights into what consumers are looking for. Pay attention to emerging lifestyle trends, cultural shifts, and demographic changes that may influence consumer behavior.
For example, the growing awareness of sustainability and eco-friendliness has led to the rise of environmentally conscious products and practices. Companies that recognized this shift early on were able to capitalize on it by developing sustainable products and marketing them to a growing customer base.
Spotting the next big thing requires a combination of vigilance, curiosity, and collaboration. By following these strategies, you can increase your chances of identifying the next big thing that could shape the future of your business or career.
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