Small Business Labs

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 151

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 143
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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 157

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 146

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 208

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 143

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 145

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 156

The Staffing Industry Analysts Temp Worker Forecast

Small Business Labs

The Staffing Industry Analysts (SIA) is a research and industry analyst firm that focuses on contingent work. Their clients are staffing industry firms and corporations that employ contingent and/or temporary workers. staffing industry forecast. The recently released their 2022 employment projections and U.S.  The full report is only available to their clients, but they publicly released their high level forecast numbers. The key SIA forecast is that U.S.

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 65

Industry Structures - Big Get Bigger, Small Get Smaller

Small Business Labs

We've done a lot of work looking at Barbell Industrial Structures.   These 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. Almost all of the industries we've studied exhibit the Barbell Industrial Structure. industry structure

2012 148

Coworking Facilities as Mini-Industrial Clusters

Small Business Labs

We've noticed that a growing number of coworking facilities are starting to look and act like mini-industrial clusters. Industrial clusters are geographic concentrations of firms that broadly serve the same industry and have common needs for talent, technology and business infrastructure.   Industrial clusters are successful because of the economic advantages that come from a tight network of customers, suppliers and cluster-related talent.

2012 155

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 60

PWC's 2040 Industry Cluster Forecast

Small Business Labs

Blog powered by TypePad Member since 01/2005 « Data and Analytics Help Macys Go Local | Main | Newsweek Sold for $1 » October 05, 2010 PWCs 2040 Industry Cluster Forecast PWC's Top Industry Clusters in 2040   report forecasts which cities will have the largest clusters for 5 industries: pharma, auto assembly, asset management, filmed entertainment and tertiary education.   The best know example is the tech industry cluster in Silicon Valley.  

2010 124

The Growing Role Small Businesses and Independent Workers Play in Corporate Ecosystems

Small Business Labs

   In fact, there are ecosystem companies in almost every industry and most have SMBs and independent workers as important ecosystem partners.      The rise of ecosystem companies is one of the drivers behind the shift to barbell industry structures.  

2021 76

Is the Venture Capital Industry Broken?

Small Business Labs

According to the Kauffman Foundation, the VC industry is very broken. And He Is Us" is a damning analysis of Venture Capital as an asset class and the Venture Capital industry in general. The news here isn't that the VC industry is broken.   The Kauffman Foundation has long been a close friend of the VC industry.   Kauffman has many reasons why the industry is broken. Their report "We Have Met the Enemy.

2012 140

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 61

Temporary Staffing Industry Booming

Small Business Labs

  The American Staffing Association reported that 2010 Q2 staffing industry revenues were up 33% versus Q2 2009.  Yes,     This revenue translated into the staffing industry employing 2.4   According to the article, most in the staffing industry believe there has been a structural shift to contingent work.  Workforce Week has a special report on contingent staffing.    The short version - it's booming. 

2010 124

Jinglesmart - Online Project Marketplace for the Jingles Industry

Small Business Labs

According to Staffing Industry Analysts , the online staffing industry is now about a $1billion dollar industry that's growing at "double-digit" rates.    The best known of the firms in this industry are probably oDesk and Elance.   But there are a growing number of industry vertical job and project marketplaces springing up. One of the more interesting examples is Jinglesmart , which serves the Jingle industry.

2012 140

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 75

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 73

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 55

Inc. on Choosing the Right Industry

Small Business Labs

on Choosing the Right Industry Inc. has an interesting package of articles on the best industries for starting a business.    The industries that made their list are quite eclectic, everything from cupcakes to ferryboats to environmental consulting.    I found self-storage leasing to be an interesting industry.    It is also an easy industry to enter and a good way to invest long term in real estate. 

2010 111

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 73

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 63

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 72

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 43

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 75

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 56

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 56

Craft Brewers Continue to Gain Market Share

Small Business Labs

  We revisited the industry in 2010 and found craft brewers 2009 revenue share of the U.S. Since 2009 the craft beer industry has continued to advance, with 2013 being a banner year. billion industry (a 14% revenue share) and is showing no signs of slowing down.   The beer industry also continues to be an excellent example of the increasingly common  barbell industry structure. See our Industry Structure section for more examples.

2014 190

Spending on Pets and Investing in Pet Startups Continues to Grow

Small Business Labs

   Regular readers know the pet humanization trend is driving the growth of the pet industry.   See our Pet Trends section for more pet humanization and the pet foods industry. spending on pets reached nearly $100 billion in 2020, up from $95.7

2021 67

The Amazing Growth of the Pet Industry

Small Business Labs

  First, the pet industry missed the Great Recession.    I can't think of many industries that had close to 20% revenue growth from 2007 to 2010.  As a life long dog owner, I love following pet trends.    The Mini Trends blog has a nice post on both pet trends and the "Petrepreneurs" who are building businesses related to pets.

2011 120

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 45

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 74

Disruption and the Analyst Industry

Small Business Labs

Blog powered by TypePad Member since 01/2005 « Increase in Unemployment Rate Good News | Main | 1 in 8 Consumers Forecasted to Cut or Eliminate Cable TV in 2010 » May 10, 2010 Disruption and the Analyst Industry I signed up for GigaOm Pro  recently.      Low cost business models have disrupted a number of content industries, with music, newspapers and magazines getting hit very hard. 

2010 111

News and Information a Barbell Industry

Small Business Labs

  News, like almost every other industry we've looked at, is a barbell industry.    By this we mean an industrial structure with a 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 even one person firms on the other end. Our Industry Structure category has a lot of posts on barbell industries.    Tags: industry structure

2010 106

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 57

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 56

Fiverr and the Hyperspecialization of Jobs

Small Business Labs

For example, the shift to barbell industry structures is in part driven by this trend.   Economic Decentralization Freelance Independent workers industry structure on-demand economy trendsThe Harvard Business Review's The Big Idea: The Age of Hyperspecialization covers the trend towards work being divided into ever smaller tasks performed by ever more specialized workers.

2015 166

Deloitte on the Landscape of the Future

Small Business Labs

  They recently released The Hero's Jouney Through the Landscape of the Future , which focuses on a topic we've long covered - barbell industrial structures.   These 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. industry structure

2014 170

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 56

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 89