If you think you want to prosper in the future: Just figure out where to live and work ten years from now.

It's not really very complicated.  

In business as in investing, much of the success of a commercial enterprise as well as a stock's value is attributable to the context in which the firm operates or to the overall growth of the industry--in the case of an equity's valuation--that surrounds it.  In other words, even a weak commercial operation can grow in a thriving climate and, conversely, a terrific business concept will fail when surrounded by poor economic conditions or weak markets.  

The important reason for understanding this mini-lesson is simple:  If you are a comparatively young professional or an owner or operator of a business enterprise, you need to figure out where the opportunities are located to best prosper in the years ahead.  Failing to appreciate this reality means that you could make a mistake as to where you'll thrive or wither--professionally speaking--ten years from now.  

A recent study reported by Ad Age, "Stat of the day: Put your money on Texas, In the next 10 years, Generation Y will help drive the economy.  So where are they?" came out about where the most promising economic markets will be in ten years.  The idea behind the logic isn't complicated at all--and makes perfect sense.  In a nutshell, this is the way it works:  Because consumers and households in certain age ranges and consumption stages spend differential amounts of money--in other words, consume more [or less] goods and services--the study simply looked at where the largest increase was for Millennials from 2000 to 2010.  

You don't need to be a genius to predict it.

The logic goes like this:  It's precisely these individuals and their growing families who will be the big spenders and consumers in the next ten years.  In other words, families presently in the age cohort of 25-to-34 will increase their spending, on average, by $10,000 more per year over their younger cohorts in the decade ahead.  They'll spend money on homes, food, stuff!  

Big winners in the race of places with the largest increase to date:  Texas, Washington, Colorado, Utah.  Biggest losers are all nine northeastern states and Michigan and Ohio.  Check out the stats in the article if you care to see where the next set of booms will be.  

Get ready to move if you have to.

These kind of changes are very predictably from a demographic perspective.  And if you're thoughtful about your livelihood, growth of your business, or professional opportunities--and willing to pick up and move--don't say nobody ever told you what's down the road--because I just did.
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Follow Keith's biz blog on Twitter for updates and see more of what he's reading about on his Facebook Page. If you are inclined, you can write him at kmurray@bryant.edu.