Innovation, creativity, and original thinking is the basis of exploiting business opportunities. Today, I found this article on Entrepreneur titled Spot the Latest Trends and it is a lengthy article that talks about the difference between trends and fads, give examples, and offers a formula for identifying what is worth pursuing:

Time: Trends don't happen over-night. "Yoga is the oldest trend in history," says Trent. But yoga has become so well-accepted that it's now mainstream--hence the story of Plank.

Roots: "Because a trend is developed in a wide variety of ways, it develops roots," explains Trent. Trends won't vanish even as they evolve, because their roots are deep and intricate.

Everywhere: A trend will slowly sprout up in different places. After a while, you'll see it all over the place.

Nonstop growth: Trends keep building slowly, never stopping their growth. "A trend isn't going anywhere--it will be there for a long time," says Trent. In contrast, she says, "A fad won't last."

Durability: Trends are strong. Unlike fads, they don't weaken as they become mainstream; they only become stronger.

The article goes on to recommend additional tactics and rules that will help you become a trend setter. Well worth visiting and reading the entire article if you need some fresh ideas to renovate and invigorate your business.