Watch for Trends – II
The savvy Manager is constantly seeking the next area of growth and trying to see where he could be maximizing the opportunity for his business. The field for new products, job opportunities and career planning are endless. However, if you or your employees are not working with a PLAN that identifies key trends that will affect your business both in a favorable and negative manner, you could face the risk of being out of business. As I look towards for what the future might hold for book & blog writers as well as the consultant work that my firm does, I see the following factors on the Horizon:
- Health care will need 1.8 million workers within the next five years –more profits for drugmakers and manufacturers of medical devices. Retirement communities – assisted living will require 20% more employees – home health aides – nursing assistants – nurse practitioners – physician assistants –physical therapists and more.
- Gene therapy – huge potential for drug companies
- App based digital therapeutics – help patients manage their own health problems
- Telemedicine – in its infancy
- High tech (5g) capabilities endless – will move data 10 – 100 times faster than today’s 4g technology that has limited connection capability. Chips, software, hardware. 11,000 workers needed in ca to install antennas .
- By 2022 there will be 500m small commercial drones flying-performing key jobs. That’s up from 160m today. My student was on top of this opportunity 3-4 years ago, when he was making $2m a week while going to school, to the astonishment of the rest of the class. I had the pleasure of landing him a $17m contract from a farm barn roofer – he sold his mgmt capabilities, equipment and software, plus training on flying the drones plus what and how to handle data. Not bad for a start-up business that got going with a one page plan.
- More and more people are wanting to die at home with excellent conditions and minimum pain. This opens the door to specialized businesses, but this field will require excellence in staffing skills. Staying on top of legal immigration laws and working in a totally new industry.
- The satellite industry is growing rapidly with skills required now and yet to be identified skills for projects to meet the future requirements related to space utilization.
- Big carmakers are making huge investments in driver-less cars. My predictions say that the car itself is a dream that is far away , but related driverless capabilities will develop and become part of a technological set of constant changes and improvements.
- New jobs such as – personal technology consultants to help people with 5g apps and numerous applications such as already exist in home security – and warehouse experts to meet online growth demands.
- Geographical trends – some cities will grow and others will stagnate. Dependent on global political situations. One of my former employers owned the only privately owned multi-story downtown building in a large asian city.
- Go south and west to meet growing metropolitan areas with plenty of employment in the new categories – these cities will increase new manufacturing employment on a regional basis due
To cost of land.
- Home delivery of food and groceries will grow to a multi billion industry in next decade – oil and gas growing as america becomes stronger as global leader a role enjoyed by middle east countries up to now – primarily saudi arabia.
Management should be having frequent and scheduled trend meetings to identify opportunities and threats in as realistic time frame as possible. Staying abreast of market shifts would have avoided the disasters of major firms such as Sears, Toys”R”Us, Motorola and too many others to mention. Above all, a brief “One Page Plan” input should result from these trend meetings – at least you won’t be making decisions based on marginal, if any information, Motorola stayed “analog” vs. going “digital” – how could that happen? By having trend meetings with your key employees you will be ahead of the game and won’t wake up one morning being out of business. It would be impossible to cover the many areas of global innovation, but it is our intent to call your attention to this management responsibility. Somewhere in the world there is someone trying to put you out of business – keeping that in mind will keep you focused on the success of your business.