New-Age Entrepreneurship for Startups

Many new-age entrepreneurs today don't come from traditional business families. And that reflects in their mindset. Authority is not linked with ownership while rapid growth is their mantra - Forbes.

There are millions of people who feel that innovation is something that happens during a refreshing shower. Innovation is a process, not an accident. It’s more than art. It’s a science! Those who aren’t keeping with technology and industry trends are bound to be fall behind and eventually disappear.

The world has changed in two major ways.

First, information explosion happened exponentially. Four billion hours of YouTube videos are watched every single month (that number is constantly increasing), fifteen-percent of the searches Google experiences each day are new, there are over 100 billion searches conducted each month, and there are over three trillion unique URLs. That’s a lot of information to track and make sense of.

The second change is an explosion of people who access information via the Internet. Many of these people have been traditionally left out of the digital economy have now been admitted through use of their cell phones and other mobile devices. The pace of innovation is now dazzling. As recently as 1995, watching videos online was unheard of. Now, 4 billion hours have been clocked.

Much of life has changed with the advent of the internet, and entrepreneurship is no different. Some of the changes have been negative, but on the whole today’s entrepreneurs have more resources at their fingertips than ever before. Describing the new paradigm in full would take thousands of words and many volumes, but there are a few areas where the changes are drastic and have far reaching implications. If you’re a budding entrepreneur, take a look at some of the changes below to get an idea of how the internet can help you make your goals a reality.

Doing Business on Digital

The internet made many tools available to traditional entrepreneurs (more on that later) but it also opened up an entirely new place to do business. Think about the internet giants like Google and Facebook and you’ll get an idea of what the implications are. Some of the biggest companies out there today are doing all of their business on the web. In fact, the business models wouldn’t even exist without the internet.

You don’t have to be a huge corporation to make it in internet business. ecommerce is available to anyone with a product, an online storefront, and a shipping account. Likewise, there are many entrepreneurs providing online services that wouldn’t be necessary without the web. Entrepreneurs now have a huge new playground to explore and take on with the internet.

Marketing Aids & Tools

Today, the internet gives you the ability to reach out directly to customers. Whether it’s through email marketing, display advertising, pay per click, social media, content creation, or something altogether new, you have unprecedented access to customers. Not only that, you now have extremely precise tools to track behavior and the efficacy of one strategy over another. Marketing in the digital age is a powerful tool indeed.

Stay Commented .. are your Online ?

Perhaps the hardest part about entrepreneurship in the past was something entirely out of your control. Oftentimes, the entrepreneurs of the past had no choice but to play by the rules that coincidence happened to choose. For example, you might have been an amazing salesperson without a lick of knowledge about managing manufacturing operations. Depending on the situation, your entrepreneurial success, or lack thereof, would depend on your ability to find someone who could help you in the areas you were lacking.

Today, you have access to everyone with an internet connection. The tools for finding a co-founder and the right team for the job have never been more accessible. It still isn’t easy, but at least now it isn’t impossible. Today’s world is full of businesses founded by people who might have been perfect strangers in the past.

The entrepreneurs of the digital age look quite a bit different than their counterparts from just a few years ago. Fortunately, the internet has made entrepreneurship a much more accessible and exciting venture for all.

Leadership is related to pursuing a shifting goal post, effective decision making, grasp of domain technology and team building, not with age and past achievements in a slow paced environment. New ventures are   built with charged teams working together to create a sustainable venture in the shortest time. Team members remain as long as they perceive the goal is being achieved. Leadership is by consent and through demonstration of competence in action.