Positioning - Quaternary EconomyPositioning - Quaternary Economy

Tuesday, October 23, 2012

Today's mental workout highlights the opportunities for positioning in the Quaternary economy. The knowledge-based sector must also help with retraining those millions displaced from the out-dated industries. The world is indeed shifting from its prior focus of manufacturing and manual labor intensive industries to more innovative knowledge and skills based foundation. The internet connects companies worldwide to highly skilled workers using advanced software tools for collaboration. The productivity levels have been remarkable across the board. People have a thirst for streamlined services with less emphasis on physical goods. For the past fifteen years, Companies worldwide have felt the impact of firstly the internet revolution followed by the social media and networking transformation. To compete effectively, companies know they must direct significant attention towards knowledge-intensive resources that can deliver a competitive edge, whereby fueling growth for the economy.

Positioning

Young people after both high school and college are struggling to find the career opportunities of past generations. If access to capital remains tight for small businesses across the country, hiring will continue to struggle. More small businesses are seeking capital through business advance companies who act much the same way as payday lenders to consumers, often putting small business owners in high interest loans actually making growth harder. Business owners need new blood, fresh blood, to be exact. Business owners can tap into the abundance of resources at their disposal, the bright young minds of people in their communities. Young people have marketing insights and ideas that most businesses haven’t tapped into for years. A majority of small business owners may be using social media, but don’t have the time or energy to effectively and efficiently utilize it, young people are adept at social media. Young people should survey their local communities for existing opportunities. Find a company, product or solution they believe in and speak to the business owner about ways you can leverage new strategies to bring in more customers. Every business needs more customers, owners need to execute new strategies beyond just the daily deals for sustainable success, most still don’t have an online sales channel, nor do they know the first thing on how to set it up. Young people understand the ins and outs of the internet, it's about leveraging their skill sets to find where the online customers are for small businesses. They must find ways to convert their knowledge into practical solutions that owners can comprehend. It's a win-win, small businesses get affordable help and how-to knowledge, young people benefit from the hands-on experience. Tomorrow’s mental workout will continue to explore the opportunities in the Quaternary economy.