Spot the Latest Trends Spotting trends can put your business in the money for the long haul.

Once upon a time, yoga was a purely spiritual practice. Although this remains true for traditional practitioners, it stands to reason that today's breed of yogis is decidedly different--with decidedly different gear to match. "They're not necessarily deeply spiritual, but looking more to do yoga as another form of exercise," says Jennifer McKinley, co-founder and general manager of Plank, a Charlestown, Massachusetts, maker of chic, high-end yoga mats, totes and other accessories. Launched in 2005, the company projects sales of $750,000 for 2007.

Plank is but one example of a company that spotted a trend--yoga enthusiasts who want more than a muted blue mat on which to pose--and acted on it. Part art and part science, this kind of trend spotting is truly the key to entrepreneurial success. The good news: It's not as difficult as you might think.

"First, understand that current events form future trends," says Gerald Celente, founder and director of The Trends Research Institute in Rhinebeck, New York. "If you keep up with what's going on socially, environmentally [and] with business and consumers, you can see that all things are connected."