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Digital Entrepreneurship
We are currently thriving in a digital age. Where marketing costs have become more and more affordable, and the entrepreneurial dream has become a reality. Creativity and authenticity is the new strategy, and all of this can be done through digital entrepreneurship. What is digital entrepreneurship? Basically, just how it sounds, in broad terms it is defined as, “creating new ventures and transforming existing businesses by developing novel digital technologies and/or novel usage of such technologies,” (researchgate.net). But it’s much deeper than just using the Internet to grow and sustain a business. It’s the combination of traditional business practices and the use of new age technology. This is the biggest opportunity for any entrepreneur to take on and be able to succeed as they make their impact on the world. If you are not hopping on this train, you need to!
The Impact
How many people in your life do you know never use the Internet? My guess, no one. There are almost 2 billion people that currently use and have access to the Internet today, and that’s just mobile. This is where everyone is, all the time, all over the world. This digital revolution is the most affordable way to become an entrepreneur. Instead of making an impact locally, you can scale your business nationally, even globally! Researchgate.net even states that, “Digital entrepreneurship has been viewed as a critical pillar for economic growth, job creation and innovation by many countries.”
Thanks to digital entrepreneurship, we can now conveniently shop for anything and even be delivered within 24 hours to us. It has allowed people to be able to learn anything they want online, become certified, even receive a college degree, all online. It has inspired many people to start their own online business. Young entrepreneurs have taken on the world, creating innovative ideas to help grow our economy and everyday conveniences. The best part about being apart of this digital entrepreneurial venture, is that it is SO much more doable than the traditional ways of owning a business.
The numbers
You don’t have to just take our word for it. Statistics show the impact of having your business digitized has. According to Entrepreneur.com, “the United States has 286.9 million internet users.” and that’s the US ALONE. The Internet World Stats says, as of June 2016, 8 out of 10 people are using the Internet in Asia, and the numbers have risen since. In 2017, Tecmundo states that, “3 billion: approximately 40% of the global population actively uses social media” This is where your consumers spend their time, this is where you want to be. Connecting with them on a more real level, getting creative and standing out from your competition. Digital Information World shows us that the average person spends about 2 hours and 22 minutes on social media. This gives businesses more than 2 hours of FREE marketing towards those consumers!
All Entrepreneurs Should Go Digital
If you own a business, and you are not online, now is the time to get on there! Going digital not only allows for inexpensive start up costs, detailed marketing strategies, and even faster growth to scale your business. But you are now capable of reaching hundreds of thousands more people than you could ever possibly do without the Internet. You can make a much bigger impact on the world if you are where all of your potential consumers are. Building a larger network of like-minded individuals and developing lasting relationships with consumers.
The online world has also given entrepreneurs the opportunity to work with and collaborate with similar companies. Instead of competing against each other, the integrated approach seems to be much more effective when growing your business. You can now build a network with like-minded entrepreneurs and collaborate. This brings both sides value and consumers, and more eyes on both of you.
Why is this important
For entrepreneurs and those who want to start their own business, going digital is so important. As I mentioned above, this is where everyone is. It would be like planning and setting up a party and forgetting to invite people. Without the invite you don’t get your name and face out there, sharing what you’re all about. No one will show up. Now I’m not saying if your business is not online, you will not succeed. What I am saying is that going digital is key to MASSIVELY grow your business. This new age has brought a lot of attention on authenticity. People want to know you’re a real human being, and not just some cheesy sales person trying to make a quick buck. Digital entrepreneurs can authentically engage with their consumers every single day. Sharing live videos, commenting and messaging within their niche all allows for a personal relationship to be developed, which means more loyal customers. All business owners understand the importance of loyal customers. We now have the opportunity to personalize our brand with our target market. The digital age has been able to create a much bigger influencer than ever before.
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