EPISODE C1.004 Current and Future Trends in Potential Markets

RESULTS RADIO..."Let's Grow Together"

Introduction
Good day and hope you are looking forward to a productive week.
This week we are announcing our new community - The Community of Commerce for all insiders. Everyone who has JOINED US and become an inside we are moving off of the weebly web platform to a community site on Tribe. 

This will provide an opportunity to share information, ask questions, and gain support for starting, growing, or exiting your business.

It is our version of the Chamber of Commerce - what it could have been instead of what it has become. This community has one goal - your success as a business owner to build generational wealth for your family. That growth will create more and better jobs in your local community.

It is a stand alone (outside the control of the arbitrary large providers) platform that provides entrepreneurs and business owners a space for the free and open exchange of ideas.

As a member of IBGR's Community of Commerce you can:

1. Follow other users including the OnAir Talent and Executive Team at the station.
2. Ask and answer questions about starting, growing, and exiting the business from our OnAir team and each other.
3. Follow any member of the Community to stay abreast of their latest business insights as well as building your own following.
4. Start discussions to stimulate input from other members of the Community.
5. Create and vote in Community polls.
6. Post and comment on posts and blogs.
7. Access and share content entrepreneurs and business owners can use.

We built this beyond the reach of the 'masters of the universe' so you can speak your mind.

On a closing note, if you want to know what drives everything we do - checkout this article: from Australia (click here).

And that is just restaurants - what about everybody else?
Have a great business week.
​
Listen>Apply>Engage
​
Show Objectives - The Why
Let's start with the obvious, at Stage I Growth we haven't opened the doors and started selling. The reason? Answering the question "what are we going to sell to whom, and how?

Based on Show C1.003, this show focuses on the key questions you must answer and potential sources for the information. Remember you have 2 apparently conflicting objectives during this stage - due diligence and opening fast.

Key Issues - Owner Perspective:

1. What is happening in each of the markets you are considering for regulations, economics, science/technology, and zeitgeist (opinion) - RESZ
2. In each market what are the current and forecasted growth rate,
3. In each market who the current major competitors and who is entering

What You Need to Know - The What
Resources

• HubSpot
• Dun and Bradstreet
• US Census Bureau
• US Small Business Administration
• Statista

​Major Areas for Research

• Regulatory: in your intended markets what is happening from national, regional, and local governments. This includes taxation, employment, safety, and environmental regulations.
• Economic: in your intended markets what is happening in national, regional, and local areas economically - is it growing, stable, or declining. Based on B2B market or B2C, in your target industries are revenues growing, stable, declining. The sames is true for B2C - what is happening with salaries.
• Scientific (Technical): in your intended markets what is happening in scientific or technological advances that will affect your industry, your competitors, and customer buying decisions.
• Zeitgeist: in your intended markets what are trends that are impacting opinions that are influencing buy decisions.

What You Need to Do​​ - The How

1. Create a spreadsheet where you can enter the data - easier to upload to a CRM or
2. Create custom fields in your CRM to record the data. It is essential it is not lost, constantly reviewed, added to the appropriate accounts, and updated frequently.

Shows

• Previous: EPISODE C1.003 SIZE AND GROWTH RATE OF POTENTIAL MARKETS
• Next: EPISODE C1.005 Ability to Micro-segment Potential Markets into Niches