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.

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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.

Going Green is Good for Your Business and Brand

Thanks to Al Gore's film An Inconvenient Truth, going green is big with everyone these days. Even the folks who could have cared less about the environment and even poked fun at people who obsessively recycled are now trying to do something green. But being environmentally friendly is no longer just for individuals, it is for businesses too.

Believe it or not, you could probably increase your business if you did something "green." Why? Because there are business leaders who are green and looking to do business with other green businesses. It is a statement of your businesses committment to helping the environment, which could mean a lot to your potenital clients or even customers.

If you are doing anything green, publicize it. For instance, if you are only using 100% recycled paper products or operate your business in a certified "green" building, make note of it on your website and marketing materials. I recommend this especially if you are a subcontractor for large corporations. Many large corporations have environmentally-friendly initiatives in place. If your business has similar intiatives, you might be considered over companies that do not share the same values.

In today's competitive landscape, any edge up over the competition helps. It is not hard to implement a green program. It could be as simple as providing multiple trash cans at your business for employees and customers to separate trash for recycling. You can purchase recycled ink toner, energy efficient light bulbs and even install lighting timers to start your green program. If you have a business that utilizes company vehicles consider purchasing hybrid vehicles for your fleet. (Note: there are nice tax advantages for purchasing hybrid vehicles.)

Going green is good for your bottom-line and your company's branding. In the very near future, it could be what tips the scale to attain new business or even recruiting talented employees. Jobseekers who are passionate about living a green lifestyle typically want to work for companies who share their interest in the environment. No matter what your beliefs are about the green movement, it is here to stay. Consider finding ways for your company to take part in our green world and maybe save a tree or polar bear in the process.