The Small Business Entrepreneur Is Ahead Of The Trends

The battle between the mass merchandisers and the small Mom/Pop retailer is a race to identify and fill trends before they become big in a specific industry. Here’s the difference between how a small business entrepreneur picks and chooses what is or will become popular and how a mass merchandiser does it.The small entrepreneur does not have the capital, in money or labor, to follow what is hot in retail, gardening or home decor. Once items become most desirable then the mass merchandiser has started buying the items by the container load and it’s often from overseas, outside the U.S. As items manufactured locally become popular it becomes a matter of commerce to go to China, Taiwan, or S.E. Asia and duplicate them. Often the reproduction will be in the millions of each and the price will drop for the knock offs. That process is created by the perceived demand of the general public’s wants going forward.The process of “anticipation” is predicated upon looking at small niches and extrapolating the small niches to the masses. If the item has merit for mass appeal then the mass merchandiser bets with future purchases and orders the items in larger quantities. Prices drop but the mass merchandiser is always the dog chasing the tail.The small business entrepreneur is in a different boat. The small merchandiser is often a one or two person buying group who own the business. Approximately 3-6 months prior to receiving the merchandise they go to merchandise shows in Atlanta, Las Vegas, NYC, Philadelphia or in local communities to see what is new and novel. It is now the orders are placed for future delivery. Most small business people are buying Christmas items in the summer, Fall merchandise in the winter, etc. Due to limited capital the small business owner will “guess” on popularity of merchandise and place small orders for their shops. A typical order may be $100 – $1,000 for merchandise the entrepreneur thinks will sell and be what the customer wants once it is displayed.If the item is popular and sells immediately there is usually a delay before the items can be replaced. Some of the items chosen do not sell and on those the entrepreneur now has what is referred to as “dead inventory”. That is cash spent with no return as well as lost opportunity to buy what is hot due to lack of cash invested in bad inventory.It’s just a fact of life for the small entrepreneur, but it’s the lifeblood of retail. The small business owner supports the manufacturing of small lot, local manufacturers and stokes the economic flames of local business and economic growth. The small manufacturer often can not fill orders in the millions of dollars unless there is heavy investment in retooling and availability of capital at reasonable terms. Especially in the U.S. where the labor costs are high the popular items go offshore to less costly land, labor and legal liability areas.A case in point.In the early 2000′s one of the hottest items to emerge in home decor and retail were the live bamboo shoots that were placed in clear glass vases. Initially the item itself lacked much appeal other than in landscaping, indoor plant areas as a fill in. After several popular mass appeal home decorating magazines featured the bamboo plants in their publications it became a home decorating trend to include the plants in home decor design. The small business had ventured into the items for a trial product, or had seen the items in the magazines and anticipated the demand. The small business owner started meeting the demand with the limited inventory available for their customers. After the bamboo became hot then the growing of those bamboo shoots shifted from the local nursery supplier to the mass producers and harvesters overseas. Rather than fill an order for 50 plants, which the local nursery could do for multiple vendors, it became fill 2 orders for 2,000,000 each of bamboo shoots.The small business owner recognized and set the trend, but the local grower and small business owners lose out when the items become popular. They can no longer buy or produce in the quantities needed and out of necessity have to move on to the next trend hoping to get it correct in their purchasing decisions.As bad as the economics sound there are multiple reasons to support local business and local manufacturers. Here are a few of those reasons:Local business recognizes local tastes & interest well in advance of mass merchandisers
Local business buys from local U.S. based businesses and increase employment
Local business encourages innovation and leading design
Local business add to the economic base as they are paying local property taxes, municipal and other taxes the foreign company is not.
Local business employs local families whether kids looking for a first job, part time employment to help families make ends meet, or employment close to home or school.The backbone of American industry is built upon the guts of entrepreneurship that the U.S. citizens display constantly.

Best 10 Small Business Ideas Of 2020

Do you feel bored with your regular nine to five job and looking for starting a business? Are you looking for starting an extra earning source? Or, do you want to start a small business in full swing eyeing to make it your career?The idea of starting a business can be exciting and all it requires is time, effort, money, and a fresh idea. We can definitely help you with the ‘idea’ part.Let’s get started with 10 small business ideas of 2020 that can get you started.Cooking/Baking: This doesn’t need a huge capital. If you already have the skills, you are good to go. Make a slow start. If necessary, work from home. Select your preferred arena such as Braising, Stewing, Steaming, Baking, Roasting, Grilling, etc. Start with 2/3 items and start delivering. Everyone likes a nicely cooked home meal. Advertise within your known area and let your cooking do the rest.Tutoring: This is probably the most known source of earning, though most of us don’t try to take this on another level. Tutoring is not limited to teaching academics. It can be a huge business opportunity with these extra steps:- Know how to play a musical instrument? Teach your dexterity.- Can make small yet handy crafts? Teach your techniques.- Good at editing or designing? Teach your skills.- Able to sing, dance, art, cook, or anything as such? Teach your expertise.- Confident in applying your makeup just right? People always asking, how are your attire always so perfect? Teach your mastery.- Know how to click the perfect picture? Teach your knowledge.To summarize, find out what you know because there is a huge number of potential students out there searching for your service. Remember, learning will never go out of fashion.Babysitting: Bet you have spent a fair share of time taking care of your baby nephew and nieces. Now is the time to use that experience. Watch the kids when their working parents are too busy to do so. Make your family and friends your brand ambassador in this case.Interior Designer: Have a fascination with a beautifully organized home? Then start learning of course! Online courses about the basic interior are not very hard to find. After gathering enough knowledge start doing small projects, take pictures, make a portfolio, and open a website or online page or hand out flyers if needed. The want of virtual assistants is huge in rate.Break the norm saying, Interior Designers are only for the riches. Provide your service in all possible ranges and see your business booming. Due to growing demand, you may count interior design as one of the best among 10 small business ideas of 2020.Customized Jewelry: Have a thing for jewelry? In that case, this business is for you. The opportunity in this field is huge with its growth projected at 5-6% per year. From golden to wooden, no jewelry will ever be old-fashioned. This is perfect for a small capital side business. Due to the rising popularity of customized jewelry among fashioned seeker women, this can be considered as one of the best among 10 small business ideas of 2020.Develop an app: There are apps for anything and everything these days. From finding all your essential files to finding a good night’s sleep, there is an app to the rescue. Coding skills or no coding skills, learning how to develop an app will only bring you potential business opportunities. Start with some marketing research and you are off to a great start.Translator: Now will be the time to put your language skills in use.Employment of translators is projected to grow 19 percent from 2018 to 2028 which is much faster than the average for all occupations. If you know more than one 2nd languages then you’re in luck and in great demand.Create your channel: A YouTube channel can earn around $3 to $5 per 1000 views. A successful YouTuber can earn millions by a single video. If you are up for it, this can be your only earning source as well. Hence this idea can be considered as demanding ideas among 10 small business ideas of 2020.If you have a passion for travel, standup comedy, music, dance, animation, teaching, creating, or anything of such sort, start sharing with the world.Learn about YouTube guidelines and know your tools. A decent location and a good camera can increase your chances of income.Ghostwriting: All ‘BoJack Horseman’ fans know about Diane and how she was a successful ghostwriter. She was never out of work and nor will you be if you have a passion for writing. A ghostwriter may not get credit for their work but it’s a lot of money.Many started as a normal ghostwriter and ended up having an influential career out of it. Averagely, an adept ghostwriter can net $20,000 per project and over $50,000 if the client is a celebrity. Beginners on average earn around $5,000 depending on the topic and length of any text.Freelance Content Writing: Content writing is undoubtedly one of the best among 10 small business ideas of 2020. In this age of digital marketing, content writers have their fair share of demands. If you have skill in formulating a well-structured story or article, this startup is for you.One can write content for a variety of things like Web content, Blogging, Social media, ad and sales copy, Expert, or industry writing, Journalistic/news writing, Creative writing, etc. An experienced content writer can earn up to $1000 to $5000 a month.If you already made up your mind to start a small business, that’s great! Don’t make a delay, pick up one from 10 small business ideas of 2020 above, and get prepared for a jump in the big space of business!