Are You Chasing Fads or Solving a Real Problem?

We are all impressionable to fads. Remember fidget spinners? Just a few years ago, these toys became a craze practically overnight. Forbes once called them "the must-have office toys for 2017", and at one point they were so popular that giant corporations like Toys R Us had to airfreight tens of thousands of them to their various locations just to barely meet consumer demand. But it didn't take long for the novelty to lose its edge. Fidget spinners once accounted for 17 percent of online toy sales, but there's no longer a place for them in the market. The target demographic that once begged to own a fidget spinner have moved on because they're not considered 'cool' anymore. Fads burn bright. Entrepreneurs often chase these fleeting trends because they're guaranteed to make a quick buck. But fads don't burn long. They're all flash and no substance, so these endeavors are almost always short-lived. Don't fall into the senseless cycle of building a business on the coattails of a trend knowing it will inevitably fail and you'll have to pick up, move on to the next trend, and be doomed to repeat this pattern forever.  Be a leader in your industry, not a follower. When you start any business, you wager with your future. But when you chase fads, you put everything at risk for just a few months or — if you're lucky — years of success. This isn't sustainable, and it causes you to lose sight of the most important focus of your business: the value of your customers, an...
Source: PickTheBrain | Motivation and Self Improvement - Category: Consumer Health News Authors: Tags: featured internet culture philosophy self-improvement success business fads pickthebrain trends Source Type: blogs