The SparkCom Podcast

11-3-2020: Trends are the Entrepreneur's Compass to Innovation

Episode Summary

Adam and Manny take this week’s episode to cover trends and why they are so paramount to the field of innovation. From a changing energy industry and the rise of vegetarian diets, to the rising costs of homes and shifts to working from home, trends completely dominate the world, not just business! No innovator can afford to ignore trends or make excuses to not adopt them. Even fifteen years ago, many business leaders were slow to incorporate mobile technology into their business. Now, no business can survive without a Facebook page or website. Today we see Exxon Mobil’s stocks sinking and other transportation companies suffering as the coronavirus forced the world to stop traveling and stay at home. Turning a blind eye to change is the barrier to growth, as regulations stifle immigration, despite the need for low-cost labor, and as several countries maintain dependence on oil production, despite shifts towards renewables. The key for entrepreneurs is to not limit their visions to the short-term effects of trends. By considering the long-term effects, leaders can create businesses that thrive far into the future and are steps ahead of competitors.