Top 10 trends for entrepreneurs in 2015
We did a crystal ball gazing for you to bring to you the emerging trends that will define the year 2015.
In the year 2014, innovation has been the growth catalyst for entrepreneurs who dreamt to position their venture in the international market. Start-ups in sector like renewable, gaming, healthcare, education, e-commerce and technology have experienced a successful year in terms of positioning and valuing their venture in the global market.
Billions of dollars have made their way towards the pocket of innovative start-ups as investors, be it Angels, VCs or PEs, seemed to loose their purse strings to invest in early stage companies.
On the other hand, sectors like manufacturing, agriculture, etc., remained out of focus and therefore faced hurdles to lift their business from the ground. Experts believe that government intervention in such sectors is likely to bring smile on the face of start-ups. The implementation of the proposed and existing policies will decide the future of these start-ups in 2015.
We did a crystal ball gazing for you and interacted with renowned industry experts, mentors and entrepreneurs to bring to you the emerging trends that will define the year 2015:
Here are the top 10 trends:
Resurgence in Entrepreneurship: The overall economy is improving, and while the recovery isn't as robust as it could be, there are indications that growth will continue in 2015. That is positive for small business owners and incentivizes others to either launch or expand.
Big Data and Analytics drive growth: In 2015, we'll continue to see a split between those businesses positioned to take advantage of the major trends and those that aren't. It should be a great year for companies that are involved with the transformation of the economy that is increasingly screen-based, big data or artificial-intelligence driven. These companies don't need to get directly involve in these types of businesses to benefit from them - although that would help.
Crowdfunding: Small business interested in investment capital to increasingly turn their attention to crowdfunding. This new type of funding is gaining traction and understanding, as the government has set guidelines and new platforms are being created to organise the capital into larger and more meaningful amounts for small businesses.
Corporate become active: Angels and VC's have had a goldmine of opportunities to invest in start-ups in the last few years. We saw some corporate begin to seek out start-ups for investment purposes. In 2015, this trend will accelerate. Capital may become more readily available, but it will be more selective. A corporate backer would be blissful to any new start-up given their strength and scale.
Better Efficiencies: Using the new age technology, the efficiencies of a lot of brands have gone up big time. A simple internal WhatsApp group solves a lot of communication lags. Similarly, a lot of better and more efficient technology (mobile based) shall be making our 2015 better.
Cloud and Mobility will start yielding results: In 2015, small businesses will begin to see operational efficiencies gained from the adoption of cloud and mobile technologies. As these hugely impactful technology platforms become pervasive, small businesses across industries will become more agile and will deliver better, improved services to their end users and customers. This will, in turn, empower small businesses to enjoy better customer relationships and be more knowledgeable in their respective markets.
Cross-border Businesses: With technology, very few businesses are restricted to a city or market. All businesses have a global opportunity set. This requires one to have resources in multiple locations so as to cater to customers and stakeholders.
Experienced talent is Gold: Businesses will seek people in their late 20s or early 30s that have 10 years experience and have seen rapid growth in technologies and businesses since 2005. They have seen the advent of social media, the proliferation of mobile devices etc. These people know how to adjust and pivot. All accelerating business will pay a premium for this talent in 2015.
More women will take over: Just as we are starting to see globally, we believe more women will rise to powerful positions in 2015.
Globalization of small businesses: In 2015, more and more companies will go international. To be successful with this expansion, companies need to be competitive to the local competitors and culturally adaptable. entrepreneurs will need to be extremely agile.
The year 2015 will see entrepreneurs moving towards the convergence of Social, Mobility, Big Data Analytics and Cloud. Moreover, the maturing e-commerce marketplace in India would open the space for more innovation as well as creating opportunities for supply chain, logistics, payment processing, loyalty marketing and other internet based start-ups. Several technologies and business models will be leveraged for development of Smart cities - namely alternate energy sources, energy efficiency, smart grids and Internet of Things or IoT.
With inputs from Shrenik Gandhi, Co-founder, White Rivers Digital; Rajeev Gupta, Co-founder & CEO, GeckoLife; Satyakam Mohanty, CEO, Ma Foi Analytics; Safir Adeni, Managing Partner, Ineda Venture Group and President, TiE Hyderabad.