I recently had the opportunity to interview Daymond John, from the hit television show, Shark Tank and Keri Gohman, Head of Small Business Banking at Capital One about business trends for 2016. There are several opportunities that stand out this year for entrepreneurs to capitalize and grow their businesses.
Janice Celeste, founder of the Encore Entrepreneur Institute interviewing Daymond John of ABC's hit television show, Shark Tank on her talkshow, ENCORE.
According to John and Gohman, the trends that business owners should be aware of are:
- The Digital Divide. This is a big one! Technology will play a huge part in marketing and if you understand how to play the game, then it will be easier to win. John talked about the social media generation gap. "The manufactures in my space, most of them are 40 and over, they don't want to understand social media...and the people who are setting the trends, consuming the goods are 15 to 29," says John. "The gap is going to get wider. The people who do understand it at a younger age...are finding their target market without a big budget...so they are starting their companies with little capital." Like Daymond John, Keri Gohman knows first-hand how important digital literacy is for entrepreneurs. "As technology evolves, there is a great need for small business owners be proficient in its use and application in order to compete, grow and prosper," said Gohman. "That's why, through Future Edge, we're investing 150 million over five years in community grants and support efforts to help more Americans - especially small business owners - get the skills they need to succeed in the 21st century."
These trends may not be a perfect fit for every business but those who can take advantage of them could find their businesses ahead of the game. What do you think? To learn more, click below to view Daymond John's interview and click here to view Keri Gohman's interview.
Janice Celeste is the founder of the Encore Entrepreneur Institute, an advocacy organization for entrepreneurs ages 50+. You can follow her on Twitter and on her Blab live stream show, ENCORE @EncoreInstitute.