How to Spot Trends in Your Business and Turn Them Into Profits | Network Solutions Small Business Resources

How to Spot Trends in Your Business and Turn Them Into Profits: @Rieva shares tips to help you learn from 2012:

What did your customers buy more of and less of in 2012? Use your sales records and other data to see what products and services were hot sellers last year and which ones were less so. See what trends you can spot. Are customers buying more do-it-yourself items, or are they upscaling to costlier ones? Try to project into the future and how these changes might affect your business going forward. Who were your best customers in 2012? Was that a change from prior years? Maybe most of your customers used to be college students and now your customer base is skewing younger. Or your customers used to be midsized businesses and now you’ve got a few Fortune 500 clients. What do these trends mean for the future? How can you better serve the new market? What new products, services or sales channels would appeal to them? How were most of your sales made in 2012? If you typically sell...

Full article: http://www.networksolutions.com/smallbusiness/2013/01/how...