5 Don't Forget the Boom
Finally, somewhere in between the toddlers and the seniors come the Baby Boomers. The key there is right in the name: There's an awful lot of them. Making It and Fox both point out that the need for financial advisors is on the rise for boomers – and others. So if you've got a business degree, look to the folks who already have some money. Then take some of it off their hands and tell them how to invest the rest.
4 Something New
At the other end of the spectrum is the children's market, Making It reports. And that means, if you like products that are not just money-makers, but fun money-makers, you have a market just waiting for you. Children love their toys, for instance, and parents always want the best for Junior...so market your gizmos to the little kids and watch Mom and Dad open up their wallets.
3 Something Old
Another market that needs catering to is the senior citizen market. Americans are living longer, and that means old people need love, too. So when you're thinking of a product, think about who has a lifetime of retirement savings just waiting to be spent—and then think about what those people need in retirement. Health care, for instance, could be a lucrative way to go. After all, somebody has to put the "assist" in assisted living. It might as well be you.
2 Size Matters
You know what else is everywhere? Junk food and the expanding waistlines that come with it. As America struggles with obesity, there's a market for everything from plus-size clothing to diet goodies. And if being fat is bad for your health, it's good for your business. Just ask airlines that are charging extra money for larger people trying to wedge themselves into tiny airplane seats. Be careful of the food business, though—Fox says the trends there are often contradictory, from the rise of vegetarianism to the trendiness of meat delicacies.
1 Go Mobile
Smartphones are ubiquitous these days, and websites need to be optimized for mobile use, not just on desktop and laptop PCs. Your business needs an online store, Making It says, and that online store needs to be mobile-ready. After all, plenty of folks are impulse buyers, Fox says, with 81 percent searching and 80 percent shopping by phone. You need to be ready when the mood strikes them—even if they're on the road and on the phone.
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