Small- and mid-sized business owners were urged to look for disruptive innovations and pursue them at a seminar at FIU for small businesses seeking guidance on new trends and factors that can help them achieve growth goals.
Presented by FIU’s College of Business and TD Bank, the Next Level Growth symposium covered topics ranging from financing and human resources to marketing and branding as well as how online media can drive a business’ growth.
Economist Antonio Villamil, president of the Washington Economics Group, urged business owners attending the October 22 event to think strategically.
“Track trends and take advantage of them,” Villamil insisted. “Go for disruptive innovations – look at what’s going on in the industry and be the first to disrupt it in a positive way.”
The bottom line: challenge the status quo with products and services that are more convenient, accessible and affordable, thereby making them available to a much larger population.
Multiple variables will impact businesses.
Factors including technology, demographics, the global value change, talent retention, and speed to market all influence business’ growth and scalability, examining how they relate to a specific business is key to success.
“Demographics will drive opportunities for businesses over the next 10 years, particularly the geriatric and millennial sectors,” Villamil added. “Fitting your product to both is critical.”