The New Face of Entrepreneurship

Entrepreneurship has been in existence even before the industrial revolution. However, the industrial revolution led to increased cases of entrepreneurship due to demand and supply logistics. The changes in technology, demand, and modernity resulted in the introduction of new and more modern entrepreneurs.

The fundamental principles of entrepreneurship have held up over the past decades. You come up with a great idea that has not been done before, or you take something that has been done and make it better. You then take a risk and put yourself out there in hopes that people will buy your products and services or that a venture capital firm will fund you.

With the bad economy looming and emerging technologies changing the way we brand and market our businesses, there is a new face of modern entrepreneurship. Now people from across the world are starting businesses, regardless of age, and we are not forced to tap into third parties in order to reach potential customers.

Sourced from: https://www.americanexpress.com/us/small-business/openforum/articles/the-face-of-modern-entrepreneurship/

The new face of entrepreneurship is a result of emerging technologies and a lot of inflation. The modern entrepreneur now needs a different set of skills to be successful in their business.

1. A scholarly research ability. People do not simply buy things anymore. There is a winning mix of brand interactions, advertisements, and recommendations that go into every significant purchase we make.

Getting this recipe to truly click involves not only knowing the history of your industry and competitors but also knowing where and when to go for the latest updates and insights. Do not pick up a copy of The New York Times, read through, and call it a day. Find those bloggers and influencers leading the way, peruse every trade publication for your industry and learn where to go for real answers.

2. A strong social media presence. If your LinkedIn profile looks like a phone book listing, we have a serious problem. If your indecent Facebook photos show up in an online search for your company, we might have a catastrophe. Tighten up your presentation to the world to leverage the free online assets we know as social media.

Designers are using Instagram to showcase their portfolios. Business owners are using Facebook to adjust their product offerings. Twitter breaks news; Tumblr shows trends and Pinterest uncovers customer-buying habits. Find the channels best suited to your industry and start making them work for you. Just make sure to tie up any loose ends first.

3. An actively updated blog or website. If you are not making so much as selling lemonade, you need a website. Unless you do not like making money, you need a blog. If you are not actively engaging potential customers online, showcasing your expertise and properly updating your channels and site, you are losing to someone who is. Get in a weekly rhythm of updating your digital properties.

Websites drive conversions and blogs drive search traffic. Both can become bottomless pits when it comes to managing your time. It helps to have a set of resources or a resident expert in your corner. WordPress sites, and the like, make updating your content painless but consider teaming up with an outside firm or consultant. Their insights and strategies can save hours of frustration.

entrepreneur-1001611_1920

4. A professional look and feel to everything you do. Even if you are not in the fashion industry, every entrepreneur needs to work on perfecting their own personal style.

There is a certain beauty to a freshly minted business card or fine-pressed uniform. Clean, appropriate, smart design is what drives the professional world. Even for multi-colored or explosively creative big-league companies, there is a certain order and form that exists in their business materials that simply screams professional.

If you want to succeed, you will eventually need to develop an eye (or, at least, an appreciation) for the power of superior branding. Because higher branding is enough to turn a “maybe” into a “yes,, please!”

5. A knack for storytelling. This is an often-untapped asset in the business world, an escape from being perceived as just another vendor. While a great many might feel like they do not have one, rest assured: every business has a story worth telling. It may take some soul searching, but once you lock into that narrative, greater opportunities will begin to present themselves.

The world is filled with truly special individuals and great stories just waiting to be told. Recognize where your products or services come into that story and align yourself with it.

When it comes to keeping things fresh, it helps to keep a journal to recount all of your awesomeness. At a company, it is about creating the story of a best-in-class service or product that makes life better. In addition, do not forget: a great story needs great characters!

6. A way to put it all together. Keeping an ear to the online grindstone is a full-time job. A limitless smorgasbord of productivity apps and software services can leave many anxious and distraught. Turn these feelings into fuel and recognize that anything is possible. Use sites like IFTTT.com to automate certain processes and services like Evernote to keep tabs on your daily readings.

Be sure to take a step back from it all every day. Find time to reflect, with family or through fitness. Keep yourself motivated by seeking out mentors, video tutorials and new information.

Sourced from: http://www.entrepreneur.com/article/236004