How to become an innovative entrepreneur in the digital world
With the rise of new technologies, and the possibilities of influencing the buyer’s journey, the internet has become the ideal place for those who want to become successful entrepreneurs.
Choosing the digital world has become an increasingly common path for those who want to become entrepreneurs.
A great deal of this change is due to the fact that the rise of the internet is directly connected to making information more accessible for everyone. Also, the internet plays a more and more influential role in the buyer’s journey.
Another factor that influences this moment is how easy it is to start a business in the digital world. After all, if it is accessible to the customer, the same goes for the entrepreneur. And more often than not, the only thing she needs to cross this door is an idea, a computer and internet access!
However, just like everything in the business world, there are many entrepreneurs that do not take advantage of this opportunity the way they should. Many of them have ideas that are far from being innovative, similar to what most of the companies that have been around for some time have been doing. And therefore they do not add any value to their target audience.
The challenge today is not simply to enter the market, but to genuinely bring something new to it, something that is new and innovative, which will, in turn, provide the opportunity for you to become a successful online entrepreneur.
In this post, we’ll talk a little bit more about this challenge of becoming an innovative entrepreneur in the digital world. Would you like to be one of them? Then, read on!
Why should we invest in the digital world?
We can’t talk about the digital world without going back to what was mentioned in the introduction of this post: the internet has changed, and it has been changing people’s lives.
From the perspective of the entrepreneur, the world wide web has made the dreams of joining the entrepreneurial world possible for many people! Especially since this universe doesn’t require a lot of resources to start. Even making your online business legal is easily done.
Thus, digital marketing and online sales have proven to be excellent tools to make this entrepreneurial journey more viable for those who are really willing to make their dreams of getting hands-on and starting their own business come true.
The big truth is that through these tools, communication between company and target audience, using a variety of resources (such as creating buyer personas, for example), make it possible to build a business with real chances of being sustainable, scalable and predictable.
Moreover, it is increasingly common for us to see pieces of news that focus on the advantages of working in the digital world, from flexibility to aspects related to a better work-life quality. This arouses the interest of people who are more and more inclined to have a go at this market.
For the customer, especially for those who are young, it is also easier and more practical to count on services with online support, since they don’t have a lot of free time to go somewhere whenever they have to solve a problem.
Would you like an example? Today most people dread the need to go to a bank to deal with an issue in person, as they can simply use an app to get it fixed. Then, actually going to the bank is only the last resort.
That’s why the more innovative the entrepreneur is, in her business idea and in the service she will provide, the bigger the chances of achieving success!
What do we need to become a digital entrepreneur?
Just like any other kind of business venture, no one is naturally born ready to deal with this activity, so we face a path filled with challenges and obstacles, but mostly, full of learning experiences.
So, in order to go through this journey the best way possible, willing to overcome these challenges and obstacles and at the same time maximizing the learning we desire, we have come up with a list of things that have to be taken into consideration when taking on entrepreneurship in the digital world.
Your business is the priority
The first point for attention to start working in the digital world will be to understand that your main objective is to face your business as a priority in your life. This doesn’t mean that in the beginning, you can’t keep your day job, while things pick up, OK?
The fact here is that you must be completely focused on your business and always put it in the first place, even if you only dedicate a few hours per day to it. The important thing is not letting it become a distant dream that is always postponed.
Remember that in the digital world, things change really fast, and therefore you have to keep up with this constant evolution to achieve success.
Of course, in the beginning of this journey, things may seem harder, but it is only with dedication and determination that things fall into place and you can see the results. That’s what you should focus on!
As mentioned above, things online change really fast and there’s always a new trend. So it is up to the entrepreneur to filter what is really relevant to her career and her business.
That being done, it will be necessary to learn a lot from courses, events, and lectures, in order to be constantly up-to-date in your niche. Another particular aspect of the digital world is that there is less and less room for amateurs, and if you don’t specialize yourself, you probably won’t be able to find a space for your business.
There are many options for seeking knowledge online, from free materials and online courses to more elaborate training sessions, online or in-person, with the best professionals in the market.
In time, you will get to the conclusion that you can’t possibly do everything on your own, and you need to be more productive, besides automating some processes. So, counting on tools to help out is definitely the best option.
Using digital marketing as an example, it is practically impossible to be an expert in everything, since there are many different areas, which are very different from each other and as important as one another. So, in the beginning, it is completely normal to do things manually, but after a while, you will need to delegate each task to there is a constant improvement.
Look for tools that will help you and your team become more efficient in achieving the results you expect for your business. Choose those that will solve the pains of the team as a whole, and that focus on performance.
Raise the necessary investment
Usually, everyone who is starting out has this doubt in relation to how much money they will have to invest when they start the entrepreneurial journey. The truth is that some investment will be necessary, but we’re not only talking about money, but also about time.
That’s why it’s important to have a clear idea of how much you will need to invest in time and in money to get the business off the ground. Write down a business plan taking everything into consideration and stick to it.
In the case of financial investment, if profits come in before predicted, excellent! Take this opportunity to reinvest it in the business, so it will grow even faster!
One of the most valuable lessons in the digital world is that you should never put all the chips in one specific action, because the chances of making a mistake are too big!
Before you perform any action, test it first. Then, when you have sufficient data to support its efficiency, you can put all your effort into making it happen completely. This will help you save a lot of time, and, most importantly, money!
Know that in entrepreneurship, it is necessary to lead a life that is based on attempt and failure, because the chances of getting it right or wrong are equally big, and not everything is a good fit for your business model. Then, you have to test it to make sure!
Bear in mind that things do not happen overnight. We are often inspired by extremely successful entrepreneurial stories, but we tend to focus on the success alone, and it may seem that everything happened in a second.
This is a false illusion, because behind every success story there is a story of dedication that is often left untold.
Therefore, have in mind that you will need to go after your dreams and objectives, since no one else will do it for you. Also, value every small achievement, because only then will they happen, slowing building up to your great success.
How do we innovate in the digital market?
Now you know how to start your career in the digital universe, the next challenge is to develop competencies to become an actual innovative entrepreneur, and we have come up with a list of attitudes and actions we recommend you follow. Check them out:
- Try to hire and be surrounded by creative people;
- Invest in processes that develop and strengthen the creativity of your team, having brainstorming sessions, for example, to encourage them to think outside the box;
- Try to solve a real problem in the market;
- Know your target audience to understand their pains, and then improve your service or product;
- Always keep up with the latest trends;
- Look for solutions that offer a different alternative for the same problem and avoid doing the same thing over and over again.
Now you know all the steps that may lead you to become an innovative entrepreneur in the digital world, learn how the 4 P’s of Marketing can help you on this journey!
Guest post written by Saia do Lugar.