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Tuesday, February 19, 2008

Industry Ticks Up and Down Can Yield Opportunities for Small Businesses

In the Wall Street Journal's Small Business section, a story ran about how a small cleaning company was reaping the benefits of the housing downturn/subprime fiasco. Because many homes have gone into foreclosure or people are simply walking away (leaving physical and financial messes behind), banks are left with homes that are not clean or presentable enough to put on the market. That is where the small business came in.

The small cleaning company was able to secure multiple contracts with realtors eager to put foreclosed homes on the market. The cleaning company actually got a surge in new business because of the housing crisis.

The above is a great example of how to innovate your business to keep pace with market trends. No matter what industry, you can create opportunities generate new business to establish an edge over your competition.

Eco-friendly products and services are huge. Is there a way for your business to take advantage of the green phenomenon? Examine your business for green opportunities. If you run a business that uses chemicals for various purposes, are there green products you can use or offer your customers? Can your use green office supplies or institute green policies to save energy at your company? Seize the opportunities and once you establish your green initiative, you market your efforts via your website or promotional materials.

Buy Green& Save Green on Earth Friendly Products at Office Depot!

In order to ride the wave of today's trends, your small business must constantly look for ways to leverage what's hot in the marketplace. Keep in mind your competitors might be looking for an edge up to, so be vigilant and leverage industry ups and downs to maximize your company's performance.

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