Businesses Needed In The Future – 2022-02-12 00:00:00 2022-02-12 00:00:00 https:///r/inspiration/future-of-small-business/ Inspiration english Learn about the industries that are expected to create the largest number of Jobs this year year. Decade and how startups can succeed. Information from leading experts and 1,200 specialists. https:///oidam/intuit/sbseg/en_us/Blog/Illustration/Future-small-business-feature-us.png https://https:///r/inspiration/future-of-small-business/ The Future From the 2021 Small Business Report |
The future of small businesses Adapting to change What does success look like? Short- and Long-Term Priorities for Companies Career Outlook in Food Service, Healthcare, and Software Development Employment and Training Priorities Career Outlook Research Methodology and Sample Further Reading: Guides to Success
- 1 Businesses Needed In The Future
- 2 What Business Leaders Need To Know About The Future Of Hybrid Work Models
- 3 What Is The Future Of Machine Learning?
- 4 Confidence And Success. Concept Of Successful Future. Agile Business. Loneliness. Need The Inspiration. Man Feel Motivation. Copy Space. Businessman Stock Photo
Businesses Needed In The Future
For all the dreamers, from students with a professional career to entrepreneurs looking for businesses, we have good news. Long-term employment forecasts predict growth exceeding 10% in a variety of industries that have one thing in common: they are essential to our daily lives.
What Business Leaders Need To Know About The Future Of Hybrid Work Models
According to the U.S. Bureau of Labor Statistics (BLS), the companies that will create the most jobs over the next eight years are those that feed us, communicate with us, and care for us. We’re talking about healthcare workers, software developers, and despite the impact of COVID-19, some food service professions, including chefs. It’s thought-provoking if you’re one of the growing numbers of people who want to start their own business.
It is no coincidence that these industries have also found themselves on the front lines of the COVID-19 pandemic. But even after accounting for the potential impact of the pandemic, the Bureau of Labor Statistics projects that more than 2.6 million of these jobs will be created by 2029, primarily in software development and health care. At the end of the forecast, it could be more than 3.3 million.
To find out how these three industries have been affected by the pandemic and how new or emerging companies can achieve long-term success, 400 professionals from each industry were surveyed. We then took our findings to a panel of experts to explore some of the issues they raised in more detail. Read on to see what we learned.
Restaurants, hospitals, and many software companies have seen seismic changes as a result of the COVID-19 pandemic. In this section of the report, we look at what’s driving the biggest change within each industry today.
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The 1,200 participants identified COVID-19, new technologies, and consumer demand as the three most important drivers of change in their industries today, but not necessarily in that order.
Software developers say the biggest disruption comes from new technologies. People who work in healthcare and food services are putting coronavirus (COVID-19) at the top of their list, as client Gretchen Talbert’s recent experience below shows:
“We were having the best business year in our history, when COVID hit and all events were canceled. We had to get creative very quickly and change our entire business model. We started online delivery and pickup of family meals. We recently started making some school lunches for private schools. “We are doing everything we can to find new revenue.”
We asked participants whether they had to make any changes at work due to COVID-19. Almost everyone (96%) answered yes. More than half (58%) said the changes were “mostly” or “all” positive.
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But we gain a new perspective when we break down the answers by industry. By a factor of approximately 3 to 1, people who work in food services are more likely to describe changes caused by COVID-19 as “negative” than people who work in software development.
As other recent research has found, one unexpected consequence of COVID-19 appears to be an acceleration in the pace of innovation and new business creation.
Excluding current business owners who completed the survey, 62% of people who work in food service, healthcare, or software development say they want to start a business. This trend is at its peak among software developers, where 79% of them want to own a business. This number compares to 60% in food services and 46% in health care.
We can also see how different generations have responded to this question. According to the data, the most entrepreneurs are Generation Z (68% want to start a business) and Generation X (65%). The least entrepreneurial are Millennials (59%) and Baby Boomers (56%).
What Is The Future Of Machine Learning?
“People who are entrepreneurs and have this mindset use crisis to generate opportunity. You can reinvent yourself or do things differently. When you get laid off or furloughed, it gives you time to think and reevaluate your life.” Sometimes this forces people who don’t “They see themselves as innovators or entrepreneurs rather than being creative.”
For new and potential business owners to succeed, it helps to know what success looks like. We asked 400 food service, healthcare, and software development professionals how they and their employers define success.
The deceptively simple formula for success in business, according to our 1,200 respondents, is to focus on your customers and your money, usually in order. People who work in food service and healthcare said customer satisfaction is the best path to success, while for the software industry this is second only to financial growth.
“It’s that simple: Customer experience is the driver of profit. People say that when you start a new business, you lose money in the first year, break even in the second year, and start making money in the third year. Well, you can speed it up or slow it down depending on the customer experience.” If customer experience is not somehow integrated into your P&L or annual reports, it likely means you are not measuring it correctly and it is a huge missed opportunity.
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While participants largely agreed on their employers’ definitions of success, we saw significant differences in what success meant to them personally. Food service and software development workers are more financially motivated, while health care workers value happiness and personal fulfillment more.
Noticeable generational differences appear in these data. Younger participants (particularly Generation Z but also Millennials) value personal happiness more than older generations who, on the contrary, are more motivated to make others happy.
After defining what success means in food service, healthcare, and software development, we wondered how companies can achieve it. There was a lot of agreement about what to focus on first.
Overall, 43% of the 1,200 people surveyed said that “building a customer base” would be the biggest challenge startups face. While people who work in food services rank it first on the list, it ranks third in healthcare and second in software development.
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Despite the obvious differences between the food service, healthcare, and software industries, participants agree that to be successful, you have to give customers what they want. Specifically, this means high-quality products or services delivered with excellent customer service.
“The old saying is true: You never get a second chance to make a good first impression. Take food service as an example. In the age of social media, you can no longer open a restaurant. “The word gets out and that’s it.”
“Customer service can be one of the most important investments you make in your business. Remember, customers call you when they need you most. Your team needs the time, space, and skills to do this well. The secret to success here is to be proactive. Consider every interaction Serve as an opportunity to learn from your customers.By sharing these insights, you can build empathy throughout your company.
“At Intuit, we’ve gone further by using our customers’ feedback to create predictive technology that helps them find solutions before problems arise. With the right approach, you’ll be able to build better relationships with your customers and better products or services. This can be transformative.”
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According to participants, the value of excellent customer service never diminishes. But in the long term, one factor that becomes increasingly important is the quality of your workforce.
“The client experience starts with the hiring decision. I look at three things: the head, the heart, the portfolio. What do they know? That’s the head. What have they done in their career? That’s the portfolio, the resume. But how do you do an interview by heart? That’s really hard.” But that’s where customer experience is in. I want to know that you will treat my customers like gold. Understanding how to conduct a behavioral interview is not easy, but it is extremely important.
“I think success depends on the combination of customer service and technology. Of course, you need good employees. But you also need to automate the things that can be automated so your workforce can focus on solving bigger problems for customers. This empowers them. It gives them time to focus “They strive for excellence, and this benefits them and their customers alike.”
Here we reveal how personally and financially rewarding working in the three industries this report focuses on is. We also found out whether current employers and business owners would recommend their career choices to the next generation.
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Levels of career satisfaction are generally high. In total, 4 out of 5 (80%) are satisfied, while only 7% are dissatisfied. The highest level of satisfaction was among software developers, at 91%. The lowest is between
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