4 New Age Business Ideas that Will Inspire Your Small Biz

August 4, 2017
The following new age crazes will give your small business a glimpse into the most-recent cutting-edge concepts and the opportunity to establish mindshare among younger target consumers amidst these cultural shifts.

Mobile optimization isn’t the only way your small business can get a modern makeover. For your brand to resonate with emerging, younger audiences it will need to incorporate fresh ideas and new practices that are in high-demand. The following new age crazes will give your small business a glimpse into the most-recent cutting-edge concepts and the opportunity to establish mindshare among younger target consumers amidst these cultural shifts.

No. 1: Instead of purchasing homes, today’s college students and graduates would prefer to invest in tiny houses. With or without wheels, tiny homes are cost-effective for traveling. They are also cheaper alternatives to normal-sized houses while remaining completely customizable. More than just a trend, tiny houses are becoming the center of a growing demographic. The novelty of tiny houses lends themselves to endless possibilities. Areas of this market that haven’t yet been explored include interior design for tiny homes, pet-friendly tiny houses, and tiny home maintenance. Even if your business can’t directly address the tiny house demographic with the products and services it offers, it can still learn from its ethos. At its core, the tiny house movement is all about minimalism. In what ways can your brand become more minimalist? Younger generations are truly living by the words “less is more.” In what ways can your small business’ brand offer this same value?

No. 2: Healthy fast food is gaining popularity with franchises and small businesses. These days, consumers are demanding healthier alternatives along with fresh, local ingredients when they go out to eat. While bigger fast food companies are slowly starting to catch on to this trend, some small businesses have already carved out a new niche: the healthy fast food truck. Even outside this niche market, more and more restaurants are starting to offer vegetarian and vegan options. If your small business does not reside in the food/beverage industry, your brand still ought to lend itself to an ever-growing audience that is seeking a healthy, eco-friendly lifestyle.

No. 3: Delivery services cater to the demand for convenience. Companies such as Postmates, UberEats, and Booster center their businesses on utility for the modern worker. Currently, American productivity is at an all-time high. This means consumers have less time for errands, shopping, and cooking. As a result, more businesses are starting to offer streamlined services at faster speeds, usually in the form of an app. With Amazon Prime Now, a shopper can receive the groceries they ordered online within two hours of purchase. The key for your brand is to brainstorm and implement ways for your small business to become as smooth-running as possible. This doesn’t always need to be in the form of delivery, either. For example, an online scheduling platform will offer your new and returning customers the opportunity to book appointments from their smartphones, desktops, or laptops on their own time while also organizing your staff’s calendar.

No. 4: Ethical business practice is a main concern for Millennial consumers. Besides ‘going green,’ this younger generation is interested in how brands treat their employees and vendors. In response, many businesses are hiring ethical business consultants to protect job candidates from discrimination, develop reputable product/material acquisition, engage in social responsibility, and expand environmental awareness. More and more consumers are turning towards brands that demonstrate a commitment to social justice and making a positive difference within communities. In addition to bringing your own small business’ practices up to this ethical par, your brand will also benefit from cause marketing. Taking action and partnering with non-profit organizations will show your audience that their purchases are in good hands. In order to strike a chord with the Millennial demographic, your brand will need to not only understand their values and ideals but also exercise them.

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