Remember how “big jewelry” was all the rage in the 1980’s? Depending on your age, you’ve either seen photos of those huge hoop earrings, or actually wore them yourself. I fall into the latter category. Shortly after I had stocked up on enormous earrings, tiny earrings were suddenly everywhere! If you wore a pair of large earrings in the 1990’s, you were dated, plain and simple.
Trends in fashion are easy to spot. All you have to do is look at the runway. Trends, however, also drive businesses, the stock market, and the real estate market. They drive consumer attitudes, career opportunities and lifestyles. Trends determine the colors we use in our homes and in our wardrobes, the cars we drive, the places we shop and the food we eat. They influence the websites we visit, the products we buy and the way we communicate. Just look at Facebook and Pinterest! Trends are everywhere, just inviting you to play with them.
Embracing trends creates exciting opportunities for wealth creation. Investors and entrepreneurs alike who have the ability to spot trends and capitalize on them early in the cycle are ahead of the game. Let’s look at some important elements of trends so that you can develop your ability to make money from them.
Trends last longer than you think they will. Even in the world of fashion, major trends last for several years. Think flat front pants vs. pleated pants. In the business world, some very long term trends, or cycles, can last for decades. Attitude trends last for about 17 years. For example, now the consumer attitude trend is value and under consumption after a long period of excess, debt creation and overspending. Is there a way you can adapt your company or career to capture this trend?
Trend capturing sometimes requires boldness. Anyone reading this knows that the real estate market peaked in late 2007. Now it’s trending up again. It’s still near the bottom of that upward movement in many areas of the United States. While something could happen to stall or reverse this trend, such as increased interest rates, trends tend to play out over the longer term. The most recent real estate cycle lasted for about four years if you consider late 2007 to late 2011, give or take.
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Money Expert and Business Strategist Camille Gaines is a coveted Expert for Showcasing Women. She helps women create a wildly fabulous rich life by coaching smarter money habits, lucrative income streams & savvy investing.