Is ANY entrepreneurial idea below the radar anymore?
In BusinessWeek Online, David E. Gumpert writes about trends indicating that life for entrepreneurs in the US is becoming harder, due, in part, to:
- the economic impact of China on virtually every market, (including apple growers!), combined with
- the willingness of large corporations to expand into niches formerly considered too small (Wal-Mart is now the nation’s largest jewelry retailer).
The ante to enter or stay in the game has definitely gone up, as any number of small businesses steamrollered by offshore price competition or a big-box retailer can attest to.
How must existing and aspiring entrepreneurs change their strategies to still succeed in this new, more aggressive climate? Where are the new edges in the marketplace? What niches are highly profitable, allow you to defend against or capitalize upon low cost of goods from China, and actually are made stronger by the presence of a big-box in your market?
Could it be that we are entering an era where product offering must change and adapt at the rate we now change our marketing campaigns?
Entrepreneurs with stamina, flexibility and the answers to these questions still chance to thrive in this harder world…
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