It can be extremely hard for a small business to stay aware of trends within their industry. Recently, KU SBDC re-posted an article from Entrepreneur.com regarding trends and received a great link from Twitter follower Aria Cahill. Aria has created a broad infographic that provides insight into major industries and their growth and decline. Information on industry growth and decline is vital knowledge for business owners. A great example of a company that made a big change based on industry trends is Macmillan Education. On their website, the company details the reasons why future printing of dictionaries will be halted due to a move to online services only. STOP THE PRESS: Dictionary no longer a page-turner is certainly a clear headline. With a customer base that has turned to online research, Macmillan answered a change in trends by simply knowing its customers. How will your company respond to industry growth and decline? Is diversification the answer? How do you expect your customer's needs to change? Answer us via Twitter @KutztownSBDC.
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