Why should you follow trends in the industry? While our industry changes at a slower pace than, say, high fashion, we do see changes.
Here are our top 5 reasons to keep an eye on industry trends:
Take advantage of or prepare for changes in the economic and political landscape: Some areas are in hyper-growth mode, while others are slowing down. Perhaps it’s an election year for a particular town, county, state, or country and politicians are promising to invest in infrastructure. If you know when/how the economic and political winds are changing, you can adapt to the new environment. If you don’t, you may find that you’ve missed a great opportunity.
Impress your clients: If a client asks you about a particular product or trend, it’s difficult to have an intelligent conversation on that topic without having some prior knowledge of it. If it’s very specific or out of left field, you get a slight pass – but imagine how much better it would be if you answered, “Yes, that’s right. We have also seen the effect on our Alaskan clients firsthand. If you’re curious about it, there’s an interesting article that mentions it in tED magazine.”
Understand how major shifts in the industry affect you and your clients: As one of the biggest trends in our industry, renewable energy is making its mark all over the world. Even if you think it won’t affect you, it may affect your clients. It may affect your company. It will definitely affect society. Find out how you’re affected and it may even open up new opportunities for you to do what you do best.
Stay one step ahead of changes in safety standards or building codes: Are the cables you chose for this project now no longer up to code? When did that happen?? Keeping an eye on regulation changes is something you need to do regularly to avoid project delays due to changes in new standards.
Know when a new product is being launched: You want to make sure you’re up-to-date on the newest products that are out in the market. For example, we just launched our High Bus, which is an alternative to the bus duct that is commonly used in high rise buildings. If there is a particular product you use in many of your projects, “now” is always a good time to take a look at alternatives or alternate ways of using that product.
At the end of the day, taking time to keep an eye on trends will help you work more efficiently and effectively.