2012 will be time to hold onto your business seatbelts

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Leanne Hoagland-Smith. | Provided photo~Sun-Times Media

In 1954, General Electric produced a movie to celebrate its 75th birthday. What is interesting to note is that the movie successfully predicted changes in technology including cell phones, 3D TVs and video chat. Future trends in 1950s are now reality.

With 2011 coming to an end, now is the time to look forward to what new realities will affect your business in 2012 and possibly for the next 10 years. Some of these game-changing developments have been discussed in past columns such as corporate social responsibility (CSR), mobility, social media, the silver tsunami, sustainability and human capital talent management. Many of these trends are changing how businesses, be them small or large, are conducting their day to day operations. Yet, there are some that have not been discussed and probably should be considered.

Using measured data or analytics continues to be in the forefront. Predictive analysis, a standard tool for statisticians, has migrated into the business world. From website analytics to the balance score card, companies that understand analytics from an in-depth perspective have a competitive advantage over companies that do not. This truly is not a new development because if you cannot measure it you cannot manage it. What makes it a trend is the use of technology to track data and then to leverage that data to improve the bottom line.

Artificial intelligence from the Apple Siri to IBM’s Watson are changing how people access information. This trend will only continue to expand as technology improves.

Technology is also changing how people think. With attention spans declining from 12 minutes to 10 seconds, how people think is being altered. Additional brain research will continue and become even more important within the daily business functions.

Through attrition, the down economy and a more efficient workforce, many small business owners are now the “Do-It-Yourselfers.” (A term created by Tom Friedman of the New York Times.) These forward thinking leaders have transformed the business world by embracing technology and have reduced what before was seen as insurmountable barriers such as financing, marketing and even staffing.

Cloud computing continues to expand and reduces energy demands. This trend provides infrastructure that before was a barrier to many small business owners and entrepreneurs.

From the Pong game of the 1970s to the handheld games of the 21st century, this trend of games or what some call “gamification” does not appear to be stopping especially with over an estimated two billion Internet game users.

Another trend is emotional intelligence. Even though this information has been around for more than 10 years, there seems to be an uptick specific to workplace productivity and leadership. Daniel Goleman’s research suggested that emotionally intelligent leaders have a 95 percent competitive advantage over those leaders who lack emotional intelligence.

With telecommuting, interpersonal skills (soft or people skills) appears to be becoming more and more important. Attributes or talents such as self starting, quality orientation, perseverance, realistic personal goal setting, evaluating what is side (active listening) are no longer a luxury, but a necessity. The research from Workforce 2020 (published in the late 1990s) where employers wanted leadership, problem solving and effective communication skills over job specific skills is now right on target.

Software applications programs (there is an app for that) that reduce time on task from monitoring social media sites to updating contact information will continue to expand. With a global marketplace, businesses owners will require applications to support them as they continue to build relationships in the DIY economy. And many of these applications will be free or available at a nominal cost thus potentially having the established Customer Relationship Management systems reposition themselves.

Finally, value, how to understand it, how to describe it, how to sell it, will be one of the most significant trends. No longer will features or benefits or even results matter to top decision makers. What will matter is how they, potential buyers or customers, perceive value. Successful salespeople who can meet their customers’ perception of value and integrate it to the value offered within their solutions (products or services) will definitely have the competitive advantage.

Yes the business world is evolving at a rapid pace, far faster than ever before. Those small business owners to entrepreneurs who know where the flow is going and can stay ahead of this flow will remain competitive. Fasten your seat belts because the ride is just starting to get real interesting.

P.S. Shout Out: To all business owners, entrepreneurs, professional salespeople and frontline workers who continually contribute to this economy. Happy New Year and may 2012 be filled with incredible peace and abundance.

URL: http://www.smartplanet.com/blog/business-brains/cell-phones-3d-tv-video-chat-all-predicted-in-1954-video/20626?tag=nl.e660

URL: http://www.smartplanet.com/blog/business-brains/10-game-changing-business-innovations-for-2012/20656?tag=nl.e660