Setting the Stage for Success in 2024: Business trends of the past and future

The REAL Truth About Business: Business Growth Tips and Strategies for Online Service Providers, Small Business Owners and Entrepreneurs

In this episode, Michelle dives into the dynamic world of business trends, offering valuable insights and reflections on what to embrace and what to let go as we move into 2024. The discussion spans various aspects, from seasonal trends in individual businesses to broader industry shifts. Michelle emphasizes the importance of observing patterns, connecting with your audience, and adapting to the evolving landscape. Here are the key takeaways:

• Seasonal Trends in Your Business: Explore patterns in your business's seasons to identify trends in customer behavior. Analyze busy and slow periods to understand when and why people engage with your offerings.
• Overall Industry Trends: Michelle shares trends observed in the online business space, focusing on what's evolving and what's phasing out. The Live Launching Model - the declining popularity of live launches, citing exhaustion and changing buyer preferences.
• Shifts in Social Media Engagement: Michelle predicts a decrease in the effectiveness of static posts on social media platforms. Emphasis on dynamic content, including videos, carousel posts, and shorter, engaging formats.
• Transformation in Coaching Models: High-ticket coaching may be losing its appeal due to negative experiences and changing preferences. The rise of the VIP day model as a high-ticket offer with immediate results.
• Evolution in Marketing Strategies: A shift away from vanity metrics and mass marketing, focusing on genuine connections and real results. Community and relationship marketing emerge as powerful trends, emphasizing the importance of authentic connections.
• Embracing Lower Ticket Offers: Michelle encourages businesses to consider a diversified offer suite. Lower ticket offers gain prominence, allowing businesses to meet their audience where they are.
• Business Planning for the Future: Michelle introduces the "Keep and Let Go" exercise, urging listeners to evaluate practices and let go of what no longer serves their business. The cyclical nature of trends in business and the importance of staying fluid and adaptable.

Calls to Action:

1. Reflect on Your Business Trends: Evaluate the seasonal trends in your business and identify patterns in customer behavior.
2. Engage Your Audience: Start a conversation with your audience about the trends they're noticing in the online business space. Use this valuable feedback for future planning.
3. Diversify Your Offer Suite: Consider introducing lower ticket offers and explore the three-tiered offer suite approach to meet various audience needs.
4. Join the Conversation: Share your thoughts on evolving business trends on social media. Tag Michelle and invite your audience to share their insights as well.
5. Keep and Let Go Exercise: Implement the "Keep and Let Go" exercise for your business. Identify practices you want to retain and those you're ready to release in the upcoming year.

Focused Visionary