We buckle our seat belts to welcome The Toilet Paper Entrepreneur (http://www.toiletpaperentrepreneur.com), Founder and President of Obsidian Launch, Mike Michalowicz back to the Trend POV hotseat to discuss precursor trends you can use in 2011... Read the Transcript

Mike Michalowicz Founder & CEO Obsidian Launch http://toiletpaperentrepreneur.com

Mike Michalowicz (pronounced mi-CAL-o-witz) started his first business at the age of 24, moving his young family to the only safe place he could afford - a retirement village. With limited resources and no experience, he systematically bootstrapped a multi-million dollar technology business, sleeping in conference rooms to avoid hotel costs. After selling his first company, Mike launched a new business the very next day, and in less than three years, sold it to a Fortune 500. With his newest multi-million dollar venture, Obsidian Launch, he grows authors and experts into industry superstars.

Wrapping up 2010 and looking forward, we turn our attention to the trends that will be affecting our favorite precursor industries in 2011 and beyond. These trends represent different industry struggles to adapt to changing marketplace dynamics through innovative thinking. Since the proliferation of the smart phone it seems that there are applications for everything. Your app, however, will find a tougher time trying to break through the clutter to stand out among the rest.  Digital marketing has both helped and hurt many companies because of the many different marketing tools and mediums available today. The emerging trend here is all about practically deciding where you need to market in the digital world and how to maximize your ROI. Musical artists now focus more on concerts and other interactive events for their revenue streams. Emerging in 2011 expect to see this trend leap from the music industry and attach itself to other industries as consumers want more than content. Another innovative way that the music industry is trying to attract more customers is by allowing fans to name their own price. The emerging trend is the idea that customers control the power of the actual cost of the item. Some areas that could immediately benefit from augmented reality include training, productivity and operations. This novel technology approach will be catching on for corporate use. Precursor industries are excellent places to see where trends are transferable and 2011 will prove to be a year where companies will look to other industries for the next big trend to apply to their own business. To turn these trends into a competitive advantage in 2011, consider the following. Prepare for what comes next now that everyone has an app. Navigate the digital marketing jungle selectively for maximum ROI. Interaction is more lucrative than content. Consider letting customers name their own price. Lastly, consider how you would use augmented reality in your business operations. These trends and more are on tap for 2011 right here so stay tuned!