Belmont University

Future of Small Business

I had the pleasure of spending the day yesterday at the Institute for the Future in Palo Alto, CA, participating with a diverse group of people who care deeply about small business. Our participation is part of a project they are working on to try and forecast the future of small business in the US over the next ten years. I look forward to sharing the results of this project sometime in the near future. In the interim, I would welcome your thoughts on trends that will be shaping small business and what the future of small business looks like to you.

By the way, one of the participants in this discussion was Anita Campbell, one of my favorite bloggers. She hosts Carnival of the Capitalists at one of her blogs, Selling to Small Business. It was a highlight of this trip that I finally got to meet Anita in person. We have commented on each others' blogs, e-mailed, and talked on the phone. But, even in the world of the wired, there is still something special about meeting face-to-face, shaking hands, and having an old fashioned conversation.


Posted by Jeff Cornwall on August 2, 2006 05:49 AM |

Comments

I think that the future of small businesses looks bright, espcially in the professional services sector. Factors that forecast a bright future for small businesses include:
-more people are becoming educated
-more emphasis on entrepreneurialship in schools
-economy becoming a global one providing more opportunities for businesses
-small businesses that specialize in professional services can provide individualized services to clients whereas large corporations find it difficult provide special attention to each client
-Inexpensive technology costs

These are just some of the factors that provide a bright future for small businesses.

Birdied by: Vin Phan | August 3, 2006 03:45 PM

Jeff,

I am very excited about small business. I find it interesting that in the mortgage industry, 70% of the nations mortgage loans are originated by small mortgage brokers.

The "big box" business has it's place in things that could be called commodities.

However, in service industries, the small business person has all the cards.

I believe that people are silently begging to be lead. The small business person in the only one equipped to do that!

Of course trust is a required ingredient.

Birdied by: David Porter | August 4, 2006 11:09 AM

It's all about customer service, word of mouth/affiliate marketing, and blogging to serve your audience with the latest content available to serve...that is the future! Everyone wants information and while they are getting the daily dose, they might buy your product or service as well. Blogging also generates trust, relationship with the brand.

I look forward to reading more of your articles. I am networking with women entreprenuers and trying to connect, if you know any, please send them my way. Best wishes, Kelly

Birdied by: Kelly King Anderson | August 7, 2006 01:53 PM

There are several resources to help small business owners with scenario planning, including SCORE, state and federal resources, and consultants.

Birdied by: johnbeck | August 17, 2006 01:50 AM

Tap it in and Comment, Please

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