How I Merge Classic Business Principles and New Trends

Everyone knows that it is important to know the current trends in line with one’s business. Knowledge of the current trends (like what is in, what is out) is as big a factor as having increased financial intelligence first  in entrepreneurship. As Spencer Johnson mentioned in his self-improvement book, Who Moved My Cheese?, “If you do not change, you can become extinct!” Well, if you are someone like me who is still enjoying the conception of your business, you don’t want your business to become extinct even before it is born, right? But you also do not want to be too engrossed with studying the current trends that you lose sight of the basic principles of succeeding in business. We don’t want that risk, don’t we?

So, before jumping into learning about the new trends and adopting each and every new fad you discover, remember that embracing change should not mean foregoing proven truths and classic principles. A dynamic business is one that is structured on both established principles and changing realities. 

One example of a combination of both is like this: A classic principle in business is to know the customers’ needs, like check Maslow's hierarchy of needs as well as study what people seem to need but no one is offering yet. Then, add to that classic principle the observable reality today on people’s buying behavior. For instance, lately, people have a higher chance of buying something that has been liked by a great number of friends and thousands of other people in Facebook rather than a product that has been offered to the buyer by a telemarketer who tries to convince him/her over the phone and saying “Sir/Ma’am, we have something that you need.”

Now this kind of businessperson, the one who conducts a business research based on classic business principles and then combining it with the current marketing trends is on the right track. One evident type of business is a manufacturer of classic products, let's say, a bath soap, which is a basic need of people. Then realizing that many people now in their area of concern want to have fairer skin, they began to add glutathione in their soaps and proceeded to offering the product to the public using the latest advertising strategies and promotions.

So, this marriage of the classic and the new for my business is what I have in mind when I went to Tech Tutor 4 yesterday, September 25. Tech Tutor 4 is a seminar on multimedia in education facilitated by educator / business technology specialist, Mr. Jerry Liao. In that seminar, I got to know my target market (the youth) and learn about some latest technological trends that my target market raves about. You can read about my post about this seminar and how I intend to use the knowledge I gained here in my future posts.

In the meantime, here is a photo I took on one of the slides presented in the seminar--the one that contains ideas I could use to guide me in my prospective business:

Elle goes into business and is having fun! You too, go into business! :)