Tuesday, 5 December 2017

Understanding the Next Generation of Entrepreneurs

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source: entrehub.org
Entrepreneurship started thousands of years ago, way back when humans began specializing in specific trades and commenced to sell or trade their wares and services. Hunters scoured fields for meat, fishermen spent hours at sea to come back triumphant with nets filled with fish, smiths worked forges to mold metal into tools and arms, and masons built the first cities.

While professions change, entrepreneurship remains. We still have the staples that stem from our basic needs of food, shelter, and clothing, but as the years passed and times changed, our range of entrepreneurial opportunities grew exponentially. This is especially true for women, who have traded the homemaker role for the businesswoman role who’s ready to not only compete with men but beat them.
Nowadays, as long as a desk, a phone, and a computer are available, a successful entrepreneur can be born. And if a physical location is needed, companies like WeWork are there to provide everything the next-generation entrepreneur needs, from desks and office suites to entire headquarters.

The Next-Generation Entrepreneur

The financial crisis of 2007-2008 hit entrepreneurs pretty hard. As the economy recovered, consumer behavior changed, businesses evolved, and the successful entrepreneur adapted. With a strong work ethic, a propensity to take risks, and a plan to satisfy a need that’s not being taken care of, entrepreneurs rose from the ashes and started their own business. Rather than working for larger corporations, or waiting until they had a solid understanding of the business world after after a long tenure, these entrepreneurs opted for creative freedom and the chance to start something of their own.

Besides their innate qualities that led them to become entrepreneurs, an emergence of investors also made it possible for them pursue their dreams. With a plan in mind and a strategy poised for success, they found someone willing to bet on them. And with the Internet as part of their tool belt, nothing seemed impossible.

How the Internet Has Bolstered Entrepreneurship

source: bitsonline.com
Whether opening a local business or starting an eCommerce company that deals with global customers, the Internet has been there to help. For local brick and mortar businesses, the Internet and SEO can help corral customers to their location — it places them on the map. In the online business world, well, the name speaks for itself: online business. That’s why a physical location is no longer a requirement for starting your own business; depending on your industry, you simply may not need it.

Now consider social media, which functions as fuel for the entrepreneurial fire. With it, entrepreneurs can do everything from promoting new products and services to marketing their business and connecting with their audience. For instance, they can lead up to a product launch with a live video that includes a Q&A session. They can also use it to pose questions to their audience for a deeper understanding of what they want to see. The beauty of social media is that it can be used for practically anything, from brand awareness to audience research, and it’s all thanks to the Internet.

The Next-Generation Entrepreneur Is Here

51% of working people see good opportunities to start a business, and in 2014, entrepreneurship rose to the highest level in 16 years, with 14% of the working population fulfilling the entrepreneurial role. This means that if you’ve ever wanted to become a successful entrepreneur, your time is now.

To get started, let’s review what we covered today on the next generation of entrepreneurs:

Entrepreneurs have been a part of society for thousands of years, and even though roles have changed, the entrepreneurial spirit remains unchanged
The financial crisis of 2007-2008 may have slowed things down, but entrepreneurs overcame hurdles and came back
Thanks to more investors and access to tools stemming from the Internet, entrepreneurs, now more than ever, have more and more opportunities to begin

Best of luck, entrepreneurs!

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