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| Gutenberg Printing Press |
An entrepreneur is a visionary; someone who sees
the world as it could be with the introduction of some new product or
service. Gutenberg brought the printing
press to spread information. Franklin brought electricity
to light and power our homes. Bill Gates
brought personal computers and Steve Jobs made them attractive, along with
introducing us to the ipod, iphone and ipad. Each of these great entrepreneurs made life easier for the common
citizen and very profitable for himself.
While the essential qualities possessed by an
entrepreneur remain constant over time – ambition, above average risk
tolerance, persistence and work ethic, to name a few – the landscape in which
today’s entrepreneurs operate has changed significantly. This change has important implications for
what it means to start a new business.
The internet has shrunk the world in a very real
sense, bringing Marshall McLuhan’s notion of the global village to light. People are connecting and communities
springing up across borders, oceans and continents. Facebook groups comprised of members from all
over the world exist on interests ranging from knitting to bungee jumping (https://www.facebook.com/bungyhilmi).
Through the internet and social media, it’s less
expensive to start a new business; new options exist to raise capital; and
there are powerful, accessible platforms with which to communicate directly to
potential consumers without paying a cent.
The Reshaping
of Business and Commerce
Starting a
business doesn’t need to be expensive:
All you really need to get started is an idea, a
plan and a website. Your web page is
your storefront, and it’s a lot cheaper than renting or purchasing a bricks and
mortar space. It’s where your customers
come to shop, interact with your brand, and purchase whatever it is your
selling. Luring customers onto your site
is achieved through online promotion. This includes Search Engine Optimization (SEO), which can be done for
free, social media, which can and should be used to interact with potential
customers, and paid online advertisements.
New options to
raise capital:
Websites like Kickstarter allow entrepreneurs to
raise capital to start their businesses without giving up ownership in the form
of stock, or owing money on loans. If
you have a good idea, present it well, and people believe in it, Kickstarter is
a great option to look into (http://www.kickstarter.com/help/faq/kickstarter%20basics?ref=nav)
New platforms
to promote:
Social media is a powerful way to promote online
and it’s free. If you haven’t already,
create an account on Twitter, Facebook and LinkedIn. Learning to harness these tools to yield
results (i.e., pull customers into your website) will take some time, but is
well worth the personal investment.
How to Take
Advantage
The internet is a great thing for
Entrepreneurs. It encourages creativity
by reducing the risks and financial barriers involved in taking a chance on
your visionary idea. Take advantage: go
build a website, open a Twitter account, and start working on your new business
today.
Matthew Moses
(info@biztoolz.ca) is an editor
and regular contributor at www.biztoolz.ca, which
provides tools and resources for Entrepreneurs.
George Torok Host of Business in Motion Business Speaker
Listen to Business in Motion audio PodCasts On iTunes Business in Motion on Facebook
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