5 Ways To Follow Trends!

Hey There!

I’m back right side up and all…so yippee!

This morning, I want to write a bit about trends since I saw how y’all went nuts about the NFTs and cryptocurrencies last week.

Today, I want to have y’all think about 5 ways to identify trends so that you can be ahead of the curve.

Follow real-world data, not just analysis:

Look at the numbers yourself.

Don’t just listen to the Jim Cramers or the Dave Wakemans of the world.

Okay, listen to me.

But one way I develop a knowledge of the trends around me is by paying attention to the real-world data that is driving decisions and behaviors. I don’t get stuck in just listening to what others are telling me, I go out and find out what it is really like out there.

I think Tom Peters used the term, “Management By Walking Around”. Think about this like that.

Look at Pain-Points:

Are you seeing a common pain point pop up over and over again?

Investigate that pain point and go out in search of a solution or an answer to why it is popping up constantly.

The answers aren’t always obvious, but if you dig enough into the pain that people are dealing with, you’ll often see a trend emerge.

Do your own market research:

I’ve been preaching market research to everyone lately because I know that the pandemic has created some interesting information that people can deal with or use to create opportunities.

I like to point to the death of NYC theory and how in December, rents were the highest ever.

Also, DC is recession proof due to the government, but during the pandemic DC lost around 4% of its population.

Or, the data that there was a 10% increase in biking and walking in London over the last several months as people were changing their commuting habits and their going out patterns.

You do this by asking questions, having conversations, using primary and secondary market research.

Want more info?

Here’s an article I wrote on my approach.

Talk to Customers:

This falls into the category of market research, but I want to give it its own section because you don’t do it enough.

Talk to your customers.

Expand Your Base of Knowledge:

This means find new sources. Look for new ideas. And, connect to different audiences.

Get outside of your silo, your network, or your bubble.

This will help you identify new trends and ideas that can create opportunities for you.

I mean, I live in DC, we have a whole city built on the delusions that a bubble of thought has created…don’t be as out of touch as DC is. Or, any other bubble-like tech, banking, or some such.

What is your take?

How do you follow trends?

Also, if you dig this note: suggest it or share it with someone.

Dave