Entrepreneurship in the Digital Age - What You Need to Know
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.
How the World Has the Marketing World Changed
Understanding these changes and knowing how to react, as digital marketers, can help drive success. The world has changed in two major ways. First, information has exploded 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.
How Has Entrepreneurship Changed?
Today, overcoming the barriers to starting a business have never been easier. Pop stars, beauty business and software companies have gotten their start on YouTube. “How-to” videos, from auto repair to applying makeup, have created a new class of wealthy entrepreneurs, overnight. Crowd-funding is another incredible source for raising cash and kick-starting a business. It’s as simple as creating a video, placing it on YouTube, and asking for donations. It’s the ability to secure funding from the every-day people. Gone are the days when a person with a great idea had to depend on bank or private funding to start their business.
Creative people engage themselves constantly in the creative thinking process. The same rules apply to solving tough problems, writing an interesting article or starting a business. Over time, creative people have honed the ability to see things from a different perspective than others. Their attempt to find the “right” answer can sometimes be limiting. They think in terms of finding a “correct” solution. This way, they may discover several solutions that work. They also don’t seem to mind breaking established rules to get the job done.
One example of entrepreneurship is turning owned or leased properly into a money-making enterprise. A quaint home can become a bed and breakfast, or land acreage can be turned into a hunting reserve. The rise of e-books published by such small enterprises and companies has led to an increase in both business transactions and awareness of family-owned brands.
Popular social media venues like Twitter and Facebook can provide a personal face for the company to thousands of potential customers about the company’s services. One way of finding success in the digital age is to know the world around you. Discover what people want and need. Then find the product or service that can provide it. The solution may already be right under your nose or at your fingertips.
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