Describe briefly the ways in which the entrepreneur spots trends.

Question

Accepted Answer

1. **Read trends** — Reading the leading publications and websites affecting the business — industry publications, trade association sites, major newspapers, business magazines, thought leaders and influential bloggers. Tech-tools like RSS feeds and e-mail newsletters help keep track of the relevant information.

2. **Talk trends** — Talking to customers and prospective customers, both online and offline, getting involved in industry trade associations and attending events, and paying attention to ratings and review sites.

3. **Watch trends** — Regularly going where target customers hang out — like the mall for teenagers or 'power lunch' restaurants for business people — and observing what people eat, do, wear and use; trade shows are also useful.

4. **Think trends** — Absorbing and mulling over what has been read, heard and observed to develop a 'trend-spotter mind' and make connections that lead to business-boosting insights.