Trends

Cabbage patch dolls, mercifully, have gone out of vogue. At least they had. But the other day, I read on the Internet that somebody had made a Sarah Palin Cabbage Patch doll. It was cringe-inducing to say the least. When I heard that a trend which I thought had gone its merry way back in the 80's and 90's (just like those atrocious shoulder pads) is possibly making it's way back, I just threw both my hands up in despair.

The way that a small business owner exploits/does not exploit prevailing trends say a lot about their strategy and DNA and even their profitability. However, in exploiting trends, it probably behooves a small business owner to stay true to their brand, and not go so far left or right, that as they say in street parlance, they wind up jumping the shark. Just because Cabbage Patch dolls are the rage doesn't mean you make it your business to specialize in their manufacturing.

If you ask Elie Tahari the Israeli clothing designer about his global lifestyle brand of women's wear, he'd probably say it is sexy, sophisticated, elegant and cool. He would be correct. No matter how the actual fashion, fads or TRENDS change, Elie has remained true to his brand, never becoming a slave to the vicissitudes of fashion, and always making clothes that are always sexy, sophisticated, elegant and cool. Mr. Tahari is a true visionary who saw opportunity while clubbing at places like Studio 54 in the Seventies and checking out all the young pretty girls who frequented the clubs, including the iconic Bianca Jagger. He wanted to create clothes that would become these pretty young Manhattanites.

Elie is no longer a small business owner. Though he came from very humble beginnings he was able to take his small business, which started initially in New York, into a $500 million a year company. He did this by focusing tightly on his target market, delivering good quality, capitalizing on trends and building a strong and recognizable brand.

How can you, a small business owner capitalize on current trends? What even are the current trends? According to Faith Popcorn, a leading trend expert who Gourmet Retailer Magazine points out the New York Times calls the "trend oracle," current societal trend right now is a move towards "simplicity." She also sees a lot of "cocooning." Meaning people are staying home more, entertaining themselves at home more, dining home more, and otherwise keeping life simple.

As a small business person, how do you capitalize on that trend? That is a question you have to explore within the context of your business and come up with a framework that makes sense for you.