Wednesday, January 12, 2011

Ride with the tide

Remember the cellphones around 10 years ago? At that time, cellular phones were just starting to mainstream as prepaid cards became available. Texting also became low cost alternative way to communicate. Telecommunication firms found a new market: the lower income segment who previously couldn't afford having a cellphone now found that keeping in touch became something they could actually have.

Now, not everybody can have the capital to sell phones as this does require a large capital outlay. Cell phone accessories, on the other hand, became a lucrative side-business.  Bag companies now produce bags with a cellphone holder, and cellphone pouches as well.  There are different types of jackets and cases to protect your cellphone from damage.  Now these same companies are adapting to the newer type of touchscreen phones as well as gadgets.  There are cellphone charms available to personalize your phone.  Some companies also produce replacement covers.

The lesson here:  an industry that does well spawns sub industries which benefit more people, providing more jobs.  So, if there is a trend, we should think out of the box and go with the tide...what will go well with THAT?  Who knows, you may find your fortune there.

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A part time ophthalmologist, part time micro business owner, part time graduate student and FULL TIME MOM struggling to find balance in the confusing world of multitasking :)