Entrepreneur magazine is predicting these four strategies smart entrepreneurs will be using in 2005:
- Tap the countertrend. For every trend, there’s a potentially lucrative countertrend waiting to be noticed.
- Eat off the big guys’ plate. Trend agency Trendwatching.com coined the term “feeder business” for companies that feed off giants like Amazon or eBay.
- Switch the niche. Take a tried-and-true product or service meant for one market, tailor it to a different market, and marvel at why you didn’t think of it before.
- Borrow a business model. Charging members a set monthly fee to borrow an unlimited number of DVDs by mail worked for Netflix.
via Jeff Cornwall.
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