Small Business Labs

New Pet Industry Buzzwords - Petrenthood and Petriarchy

Small Business Labs

Regular readers know we like both new buzzwords and pet trends here at Small Business Labs.

2021 138

Industrial Internet Changing Industries

Small Business Labs

Interesting study from Accenture on how the industrial internet is changing the competitive landscape of industries.   Accenture defines the industrial internet as the combination of Big Data analytics with the Internet of Things. Eighty-four percent feel that Big Data analytics has the power to shift the competitive landscape for their industry in the next year.

2014 146

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Site Covers How the Economy is being Impacted by the Pandemic by Industry

Small Business Labs

Vertical IQ is a leading provider of Industry Intelligence for those advising small- and medium-sized businesses such as bankers, accountants, and other SMB advisors.      The chart below shows their high-level industry sector coverage.

2020 160

Coworking Industry Competition Heating Up

Small Business Labs

The coworking industry is getting more competitive.    According to Frank Cottle, chairman of Alliance Business Centers, "WeWork is nothing but Regus with a paint job" He is also quoted saying it's $20 billion valuation "makes no sense" Regardless of what you think about WeWork or its valuation, it's clear they're having a competitive impact on the coworking industry. The coworking industry is attracting a range of new entrants.

2017 150

What WeWork's Troubles Mean for the Coworking industry

Small Business Labs

  But despite WeWork's woes, the coworking industry is doing just fine. As we pointed out a few months ago, the coworking industry continues to surge and WeWork's problems won't change this.    Having said all that, WeWork's problems will impact the coworking industry.    In the short run, there will be a lot of negative press and coworking's naysayers (and there are quite a few) will suggest the industry is not sustainable.

2019 145

Coworking Doesn't Need a New Name, But the Office Space Industry Does

Small Business Labs

Key quote: The industry has come a long way since it first took off in the early 2000s.   We agree that the term "coworking" is too limiting for what's going in the commercial office space industry. Firms like Industrious, WeWork, Serendipity Labs and many others no longer just provide workspaces where people work alone together.    This is part of a much broader trend - the servitization of products - that's impacting most industries.

2018 184

Expert Network Industry Big and Getting Bigger

Small Business Labs

The industry is also growing rapidly, with industry revenues expected to exceed $1 billion by 2022.  The report The Rise of the Expert Economy is a interesting look at what it calls a "little-known, high-growth sector, made up of networks that connect experts with companies that need them."  "  The firms in this sector, such as  GLG (Gerson Lehrman Group), Guidepoint and Third Bridge, are surprising large.

2018 137

The Ideas Industry

Small Business Labs

The Ideas Industry  is an interesting look at how the marketplace for ideas is shifting due to the emergence of for-profit think tanks and ideas entrepreneurs. The book reaches no firm conclusions whether or not the evolution of the ideas industry and the rise of for-profits is good or bad. " Missing from the book is coverage of the role thought leadership is playing in the rapidly growing content marketing industry.

2017 109

After a Decade of Strong Growth, Craft Brewing Industry Shows Signs of Slowing

Small Business Labs

of the beer industry's 2016 volume.  beer industry's revenue.  So while the craft beer industry is still growing, the growth is starting to slow. Our interest in the craft brewing industry is due to the fact that it's such a good example of a barbell industrial structure.  We've been following the evolution of barbell industry structures for over a decade and we often use the beer industry as an example.

2017 153

Connecting Artisan Makers With Retailers and Customers a Rapidly Growing Industry

Small Business Labs

Two companies that connect artisan makers with retailers and customers announced large funding rounds last week. The wholesale marketplace Faire raised $100 million while the wholesale and licensing business Minted said they raised $208 million. Both firms connect retailers, who are often small independents, with small and solopreneur maker businesses. Faire reports having "15,000 stores actively buying on the platform?—?more

2018 177

Healthcare Industry Embracing the Gig Economy

Small Business Labs

These include: The Stem : a ‘networked consulting’ model that draws on the industry’s leading independent talent to help health companies increase customer/patient engagement.   The gig economy continues to spread rapidly and is becoming a key talent source for many industries.

2017 140

Media a Barbell Industry

Small Business Labs

Paid Content has an interesting article on media becoming a barbell industry.   Barbell industry structures consist of a relatively few giant corporations on one end, a narrow middle consisting of a shrinking number of mid-sized firms, and a large and growing number of small, micro and one person (solopreneur) firms on the other end. We've looked at dozens of industries and all have this structure or are moving to it.   industry structure

2013 136

2014 Pet Industry Trends

Small Business Labs

I can think of no better way to start 2014 than with a look at 2014 pet industry trends.  Multibrief's Pet Businesses Will Prosper: Industry trends for 2014 and beyond  provides such an outlook. According to the article, the pet industry is forecast to continue to grow driven in large part by the pet humanization trend.   The pet industry is mostly made of small businesses.

2014 151

Pet Industry Continues to Attract Venture Capital

Small Business Labs

Crunchbase's  Investors Unleash Millions Into Pet-Tech Startups covers the surge in pet industry venture funding over the past 5 years. The pet industry continues to grow and the pet humanization trend continues to get stronger as pet obsessed Millennials pamper their pets even more than older generations. Key quote: Funding in pet startups surged by 334 percent to $291.8 million compared to $67.2 million in 2012, according to Crunchbase research.

2018 116

Upwork Going Public; Shows Maturation of Online Talent Marketplace Industry

Small Business Labs

  That both Upwork and Fiverr have reached the size and scale to go public shows the maturation and growing importance of the online talent marketplace industry. The online freelance talent marketplace Upwork filed last week to go public.    According to the filing, Upwork has 375,000 registered freelancers and 475,000 client businesses located across 180 countries.    The company reported sales of $164.4 million in 2016 and $202.6

2018 135

Led by Retail, The Surge in New Business Applications Continues

Small Business Labs

The industry with the highest number of applications in April was retail trade, with 96,000 applications.     This same shift to solopreneur firm applications is occurring in most industries.  Freelance gig economy Independent workers industry structure trends

2021 160

The $11 Billion Workspace-as-a-Service Industry

Small Business Labs

The 1st Annual Local-Mobile Workspace-as-an-Industry conference was recently held in San Jose. The workspace-as-a-service industry includes office business centers, coworking facilities, incubators and other shared office environments and services.   The industry is quite large, as shown in the slide below from Scott Chambers'  state of the industry presentation.

2014 207

Meetings a Huge Industry

Small Business Labs

Based on these numbers, the meetings industry contribution to U.S. GDP is greater than the motion picture/recording industry ($113B), performing arts/spectator sports/museums ($87B) and information and data processing services ($80B). According to a report by the "Big 4" accounting firm PriceWaterhouseCoopers (PWC), in 2012there were "1.83

2014 139

Disruption in the Industy Analyst Industry

Small Business Labs

As industry analysts we are very interested in new and innovative business models and practices in our industry.  There are several worth noting: Industry Analyst/Journalism Hybrid : These are firms that are augmenting or replacing their traditional advertising based business models by adding industry analysis and/or research services. It will be interesting to see how this industry evolves.   Business Models industry structure

2014 137

Deloitte on Industrialized Crowdsourcing

Small Business Labs

Deloitte University's Industrialized Crowdsourcing is one of the best, relatively short descriptions of crowdsourcing I've read.   The key quote is the summary: Enterprise adoption of the power of the crowd allows specialized skills to be dynamically sourced from anyone, anywhere, and only as needed. Companies can use the collective knowledge of the masses to help with tasks from data entry and coding to advanced analytics and product development.

2014 136

The Staffing Industry Analyst's Human Cloud Framework and Taxonomy

Small Business Labs

Last week the Staffing Industry Analysts (SIA) released The Human Cloud, the Gig Economy & the Transformation of Work. It nicely covers the topics mentioned in the report title. Key quote from the report on the size of the "human cloud": "SIA estimates that total human cloud spending reached between $47 and $51 billion globally in 2016.

2017 140

Accenture on Social Commerce

Small Business Labs

The traditional direct selling industry (also known as multi-level marketing) has been around at least since the 1940s, with well-known brands such as Avon, Tupperware, and Mary Kay - all of which integrate social experiences of some form on the path to purchase.

2022 179

MBO Partners 10 Future of Work Predictions for 2021

Small Business Labs

Business Models Freelance gig economy Independent workers industry structureLast week MBO Partners released their annual future of work predictions for the coming year. 

2021 176

Growing Direct Selling Industry Employs Over 20 Million Americans

Small Business Labs

This makes direct selling a relatively bright sector of the retail industry.   A couple of other interesting data points on the direct selling industry are women make up 77% of sellers and wellness products are driving the growth of the industry (see chart below; click to enlarge). According to the Direct Selling Association (DSA), about 20.2 million Americans are involved in direct selling the U.S. This is up from 15.8 million in 2010. 

2017 141

Air Taxi Company Joby Went Public

Small Business Labs

According to the industrial firm Honeywell, which makes parts for aircraft, the urban air mobility market is expected to be worth about $120 billion in 2030. The urban air mobility (buzzword alert) company Joby made its public markets debut last week. 

2021 212

The Staffing Industry Analysts on the Gig Economy and Cloud Labor

Small Business Labs

The Staffing Industry Analysts (SIA) recently released their U.S. Gig Economy - 2018 Edition report. They found that about 48 million Americans are in the gig economy, which is 31% of the workforce. They also found about 13.7 million Americans are human cloud workers.    They define the human cloud as: " all manner of companies that facilitate direct, digitally-enabled work arrangements, from sourcing a worker through payment."

2018 138

Braintrust - a Coop Online Freelance Talent Marketplace

Small Business Labs

  But 4 years later, coops haven't made a dent in the online talent marketplace industry. Freelance gig economy industry structure Small Business EconomyBraintrust is a new entrant in the online talent marketplace space, but with a twist. 

2020 180

"Hotel on Wheels" #VanLife Firm Cabana Raises $10 Million

Small Business Labs

The RV Industry Assn. Cabana rents custom-built Ford Transit vans that include beds, storage, bathrooms, and Internet access.    Their tagline is "a hotel that travels with you"   They're hoping to tap into the large and growing number of #Vanlifers.

2021 220

MIT Economists on the Impact of COVID-19 on Labor Markets

Small Business Labs

Government Policy industry structure Small Business Economy Web/TechThe Hamilton Project essay The Nature of Work after the COVID Crisis: Too Few Low-Wage Jobs is authored by MIT economists David Autor and Elisabeth Reynolds. 

2020 182

Online Platforms Supporting Digital Nomads

Small Business Labs

  It's targeted at the travel industry and how it can better support the needs of digital nomads.  Platform Professional's  Platforms and Digital Nomads  covers online platforms supporting digital nomads.

2021 220

Digital Nomad Numbers Skyrocket Thanks to Work From Anywhere

Small Business Labs

Most (52 percent) are also reporting they plan on visiting fewer locations but spending more time at each stop, which is consistent with trends in the travel industry as a whole. The number of U.S. digital nomads grew from 7.3 million in 2019 to 10.9 million in 2020, a 49% increase.

2020 261

The Ups and Downs of the 3D Printing Industry

Small Business Labs

The 3D printing industry is at an interesting point, with both good and bad news coming out on a regular basis. But even as it slumps a bit, there's still a lot enthusiasm around the 3D printing industry and no change in the view 3D will eventually fundamentally change how things are made. The question has been when will it finally enter mainstream use for industrial applications.

2015 155

The Post Pandemic YOLO Movement

Small Business Labs

YOLO is an acronym for "you only live once", which was popularized by the rapper Drake a decade ago. We learned this interesting fact from the New York Times article Welcome to the YOLO Economy.  

2021 216

LA's Creator Townhouse Community

Small Business Labs

The Hollywood Reporter's New Studio City Townhouses Draw Digital Creators Thanks to Hybrid Zoning covers a new townhouse community designed for artists and creative professionals.      Quite unusual in LA, the townhouses have live/work zoning approval. 

2021 189

What is the Industrial Internet?

Small Business Labs

Industrial giant GE has been pushing the idea of the Industrial Internet, including publishing a detailed white paper on the concept.   GE's definition of the Industrial Internet is primarily focused on big machines like aircraft engines and power generators. The concepts and ideas behind the Industrial Internet are not new.   This is a larger scale variation on the concept of the Internet of Things , first coined back in the late 1990s.

2012 145

Wunderman Thompson's 2021 Future 100 Trends Report

Small Business Labs

This year’s report also includes 21 exclusive predictions from leading experts across industries to mark 2021. The 2021 edition of the annual Wunderman Thompson Future 100 report was released last year.    It's one of our favorite trend reports. 

2021 220

The Demographics of Nonemployer Business Owners

Small Business Labs

The new data provides information by owner demographics such as sex, race, ethnicity and veteran status, geography, industry, receipt size class, and legal form of organization. The U.S. Census has released new demographic data on nonemployer businesses.  

2021 210

The State of the VC Industry - Fewer Firms, More Funding

Small Business Labs

TrueBridge Capital Partners recently released a report on the State of the Venture Capital Industry. The large funds are able to do this because they are garnering a larger share of industry assets. The venture capital industry has been going through a lot of change over the past decade. We've reported on it's problems in the past , but as this data shows the industry is still healthy.

2015 142

More Industries Moving to the On-Demand Economy

Small Business Labs

This means few, if any, industries won't become part of the on-demand economy. The On-Demand Economy is commonly defined as the economic activity created by online marketplaces that fulfill customer demand via the provisioning of goods and services immediately or much faster and/or easier than traditional firms.    Uber, Lyft and ridesharing services are often cited as examples. But Amazon is in many ways a better example.

2017 122

The Rise of the Skills Training/Job Placement Industry

Small Business Labs

In response to this problem a rapidly growing industry focused on providing skills training and job placement has emerged. Expect to see this industry continue to expand in the coming years. The current employment picture is quite interesting. The official statistics say we've got a great jobs market.

2015 152