After an unusual year, crisis and change are always full of opportunities. That means that 2021 will continue to be an excellent year for those entrepreneurs who know how to identify them. This post discusses the most important trends for entrepreneurs this year – don’t miss it!
The World Economic Forum’s Future of Work report highlights that it will be a good year for specialized entrepreneurs, as 4 out of 10 companies intend to use external consultants for technical work.
Many businesses have been favored, and opportunities have opened up in others. But what remains constant is that many investors are looking for a profitable haven for their money. In this article, the free essay writer described the significant trends for entrepreneurs!
Trends for Entrepreneurs and Startups in 2021
Everything to do with leisure and consumption at home is trending up.
We spend a lot of time at home, and our outings have been reduced, plus we are shut out of leisure and dining, so we are increasingly equipping ourselves to spend more time at home. Read on and learn about the first of our trends for entrepreneurs.
So we will see news and a giant development in everything that has to do with food delivery and food tech.
Many restaurants that implemented food delivery have seen an excellent opportunity to continue the business. Some have created new business models with semi-processed food to assemble at home or have developed proposals for more elaborate cuisine different from the usual for those special days.
We also invest more time in decor, furniture, and even small “do it yourself” arrangements. Everything that has to do with online sales of this type of products and services is experiencing a boom that will not end here.
Spending more time at home means that we want to be more comfortable, so we buy less new clothes, but we do invest in clothes to be at home, and the circular economy is favored in the apps for buying and selling used things that no longer serve us.
And as we spend more time at home, we also have more time, so subscription business models that offer us activities for that free time will also be a trend. Among them, of course, we can highlight the offer of movies and TV, books, and microlearning. Nor can we forget the hobbies we can do at home.
We buy everything online, and there are ample opportunities in niche markets that require a particular specialization that the big platforms cannot cover.
The star sector: Biotech and Healthtech
Imagine what it means, or has meant, to obtain a patent for a vaccine. The speed at which biotechnology and processors are developing, and artificial intelligence makes it one of the most attractive investors and, therefore, for entrepreneurs.
Also, the health sector is one of the booming industries that has gained great prestige among society, so training in health is also going to take off in 2021.
Telemedicine will also be our solution in many occasions where it is absurd to make trips, queues, and waits for certain types of mechanizable consultations. Keep reading our trends for entrepreneurs.
E-learning is everything
If you have to keep one sentence from this post, it is this: “in times of Machine learning, the only way to stay relevant is to be a learning machine.”
The only thing we know that is constant is change (and now more than ever), and we have to keep our profiles updated and ready to provide human capital.
Even before the pandemic, the consulting firm Research and Markets forecasted that the online education market would be worth $350 billion by 2025. It is expected that after updating this data following the effect of the COVID-19 pandemic, it could amount to more than $500 billion.
Therefore, it is not surprising that distance, telepresence, or online training has been constant during 2020, but in 2021 it is not going to change. What will change is how we consume because we will demand more microlearning for just-in-time consumption. If I need to learn something and I have the time, I want to do it.
This term in the venture capital investment world called ESG (Environmental, Social and Governance) investing describes a type of investment in projects that incorporate environmental, social and corporate governance factors into decision making.
It is a shift from the previous ClimateTech cycle, which focused solely on energy, to how climate considerations can be incorporated into a broader range of sectors, such as Fintech, agritech, transportation, energy, manufacturing, and construction.
The war of collaboration and productivity
Remote work and work flexibility are here to stay, but they require solutions to improve companies and workers’ management. Keep reading our trends for entrepreneurs in 2021!
According to Interbrand, four of the world’s five most valuable brands are platforms: Apple, Amazon, Microsoft, and Google. Add Salesforce to this mix, and these are arguably the companies that will set the technology agenda for years to come.
It no longer matters what industry your company is in. What is certain is that it is no longer enough to make and sell a great product. It would help if you created a community and a marketplace that allows people to interact, transact and ideally learn from each other. That’s the power of platforms.
It, combined with the rapid move to remote or hybrid work, has increased the demand for workplace applications and, in particular, collaboration and productivity tools.
The supply chain crisis
Few areas were under as much stress in 2020 as supply chains, with rapid change forcing companies to adapt their plans on a week-to-week or even day-to-day basis.
However, far from collapse, this situation only accelerated a transformation journey that was well underway, with companies looking to reduce the risks of disruption posed by geopolitical uncertainty. For startups and venture capitalists, this represents an opportunity.
While supply chain tools exist, they have been relatively slow to maximize the latest emerging technologies ranging from artificial intelligence (AI) to data analytics and the Internet of Things (IoT). In 2021, we will see several supply chain startups begin to make their mark with solutions that streamline orders, reduce waste, highlight areas of risk and protect relationships between parties.
5G and IoT-based ventures are coming.
With the promised 5G technology, great opportunities will emerge from developing mobility and bandwidth-based services.
IoT is a mature technology with lower access costs, thanks to platforms such as Blynk, making it much easier to develop ingenious solutions.
New virtual interfaces and services based on remote management of terminals and devices will also appear.
Market turbulences make Fintech or alternative financing systems such as crowdfunding more protagonists in this scenario.
Markets with a low banking penetration rate, such as Mexico or Colombia, are skipping the process by offering financing solutions to the demand from fintech platforms.
We are increasingly aware of the dangers of the network and keep our assets protected just as we do in the physical world.
Cases of information, technology, or financial theft are becoming more well-known, and awareness is being raised among companies and users.
In the same way that cybersecurity companies have increased in the real world, there is a similar risk in the virtual world. So there is also a budding market in this sense that many entrepreneurs have indeed already identified.
The cloud will grow in 2021
Accessibility and integration are gaining importance in the business world. The cloud allows streamlining many processes as it stores all data in one place that any qualified employee can access. In 2020 we patched things up to get ahead. In 2021, the time has come to put things in order and get them right.
Micro-influencer marketing will also be one of the most relevant trends for entrepreneurs in 2020. Pedro Rojas explains that “micro-influencers gain in presence over celebrities. SMEs have realized that celebrities and super-YouTubers do not compensate them in terms of ROI. So more and more companies are willing to invest in these campaigns of several influencers, knowing that they generate excellent results and that they have better quality followers because they deal with more specific sectors and areas”.
Boosting the human factor
The use of technology is increasing, yes, and many digital tools have become essential in business. At the same time, user demand for personal attention is growing. That’s why in 2020, the humanization of interactions between brand and user will become one of the most advantageous trends for entrepreneurs.
If there is one thing you can achieve regardless of your budget, it fosters a close and personal relationship with users. All you need is a good dose of empathy and a chatbot to automate and streamline the process. But you certainly can’t afford to get lost in this area: if there’s one thing that can give you an edge over well-established companies, it’s this.
Meeting users’ needs is no longer merely a matter of delivering a satisfactory product quickly and easily. Consumers are now looking for more value from the entire shopping experience than just getting a product or service. If you wanted to stand out in 2020, you’re going to have to go above and beyond to wow your customers every step of the way. The little details are more valuable than ever and will give you another opportunity to exercise your creativity.
Transparency and traceability
We are about to end a decade full of scandals and increased awareness of social and environmental issues. If you want to stay on the right side of popular opinion, transparency is one of the trends for entrepreneurs in 2020 that you can’t afford to ignore.
People are more interested than ever in business ethics, so it is essential to implement sustainable business models and inform your audience about how your business works. It’ll also allow you to establish a dialogue with consumers that can help you meet their needs more efficiently and increase that feeling of listening and closeness that we have already seen is so important.
More financing and procurement options
And here’s the last of our trends for entrepreneurs! The search for financing is probably one of the most complicated and uncertain aspects of entrepreneurship. It is not always easy to find investors committed to a startup and who want to contribute their capital so that the project can be consolidated as a new business model.
In this ecosystem, Data Science profiles are coming into play in marketing and digital advertising companies. We live in the era of big data, and we need to put all this information in order. Data analysts are precisely the new emerging profiles to help us bring order and extract knowledge from data.