The old days of monopolies are no longer here to keep a small business down. You may scoff at that sentiment, but look around, the large corporations are becoming stagnant. Take a look at the car industry, who do you think will be the biggest and most popular car manufacturers in 5 or 10 years’ time? Tesla, Lucid, Nio and Kandi will take the crowns of Ford, Jaguar, Mercedes and BMW. It’s already occurring and it’s all because new industries are rising and the old dogs are struggling to learn new tricks.
Crude is dead
Crude oil has been the fuel of the economical rat race for the past 100 years or more. It’s often called black gold, because it may as well be just as good as a pound of gold as it can fuel just about anything. However, crude has not and will not run out. Yet, it’s already dying. Lithium is the future, not crude. Lithium is needed to build car batteries and if you have contract rights to mines that mine lithium, you are going to be ahead of the competition. This is something that Ford is finding out the hard way, thanks to Tesla. Tesla is getting into the mining business so they can not only own their own lithium mines, but also ship and transport it themselves. It’s a self-sustaining supply chain that no large company in the car industry has ever done before.
Cigarettes are out
It’s no secret that the vaping market is outshining the cigarette industry when it comes to culture and the consumer market. Yes, the cigarette industry is worth 7 times as much; at $705 billion. However, the vaping and e-cigarette industry is now worth $105 billion. Yet the vaping industry has only been around for about a decade. Considering that the cigarette industry has been around for hundreds of years, this signals the death knell of the latter. You can start your own vaping business thanks to wholesale vape carts. You just need to select the kind of strand you want, do the processing, then this company will do most of the rest. They will help you select a cartridge, how it should be utilized in the formulation of the strand and cartridge combination. They also design, produce, test and train your employees on how customers should use the product.
Imagination economy
The technology industry’s fuel is imagination. This is why Apple, Samsung, BT, Google, Microsoft and other large tech giants, are thirsting for the youngest and greatest professionals to work for them. The tech industry is rapidly changing, thanks to the creative thinking of such individuals. A large part of the reason why automation is being accepted is that it is effective. It is effective thanks to the younger generation who leads the planning, human interaction, creative work and decision-making as to how the automated framework should be designed and implemented.
Modern ground-breaking industries are ripe for the picking. You as a business owner have the opportunity to pounce on the recent trends and get your foot in the door before the entry cost becomes too high.
