Digital entrepreneurship is becoming increasingly popular. We all make digital entrepreneurs richer every day. The many websites and applications that we visit and use represent entrepreneurship. They represent a digital form of free enterprise. New opportunities for making money from the luxury of your office or even your home have been created through the ever-evolving field of technology. If you are wondering how to begin your journey as a digital entrepreneur, keep reading to find out.
Starting or launching a project or business is one of the most demanding projects anyone can attempt. Digital entrepreneurship is not an exception. However, when you are armed with useful knowledge and the kind of information in this blog post, starting out becomes much easier.
Who is a digital entrepreneur?
First, it’s important that you know the nature and model of this novel business. A digital entrepreneur is simply someone who employs the internet to make money. However, this definition might be incomplete without the word ‘solely’. The reason for this is simple — the ambit of a digital entrepreneur is one of marketable ideas, not one where a tangible product is being manufactured and put up for sale.
In other words, a digital entrepreneur sells no physical goods. Examples of digital products and services include explainer videos, eBooks, software programs, game apps, educational videos, website design, social media management and digital marketing.
Making money with your blog is another significant digital opportunity out there. As a blogger you can generate money by packaging your expertise into digital products. In fact, many bloggers make seven-figure income yearly through trainings, speaking engagements and digital services.
Requisite expertise
To thrive in this digital revolution, you must possess the same set of character qualities and skills associated with similar revolutions that took place in the past; for example, the Industrial Revolution. It’s just the dimension of application that differs; the skills are more or less the same. For your digital business to thrive – just as it is with any other business – you must possess the capacity to organise, manage, develop, grow and, of course, lead.
Ingenuity and creativity, perseverance and determination, critical thinking and initiative are all skills or qualities that will enable you to become a successful digital entrepreneur. Share on XOrganisation, management and leadership must go hand in hand for your enterprise to be profitable. These are basic skills without which your business cannot succeed. You can’t just loaf around and hope that things will happen. No one reaches the top with that type of mentality. You have to be proactive and be ready to adapt to changes as they come in the rapidly evolving world of digital business.
You might be wondering about the need for technical skills. Yes, you need technical skills in your business but these skills don’t necessarily have to come from you. As an entrepreneur, you can always have someone else look after the technical aspect while you oversee the business aspect. Your most important work as a digital entrepreneur is to implement and constantly optimise a working system for your business. A functional system is what you need for effectiveness, efficiency and productivity.
How to go about it
You can’t just dabble into digital entrepreneurship without serious thought and preparation; otherwise you would be setting up yourself for failure. Here are some steps to take as you begin your journey.
Get enough education
Read and digest the interviews, books, and blogs of successful digital entrepreneurs. There is no better way to learn than from those who have accomplished what you seek to achieve. Build relationships and initiate conversations to help you learn from their failures and successes. Take online courses that teach the details and fine points of the digital enterprise model you are adopting.
There is no better way to learn than from those who have accomplished what you seek to achieve. Learn from their failures and successes. Share on XGet all the information you can, read all the materials you can find on the subject and learn all you can. This will provide a solid basis for your own digital entreprise. Even as you continue on your journey, you must continue to learn and learn because the business is constantly evolving. When you stop learning, you put a cap on your earning potential.
Research and plan
Find out what people are looking for. Uncover people’s pain points. What would make them happy to part with their money? Think of the stuff you have to offer and the digital channels through which you can sell your stuff to potential customers.
Based on your research, you should be able to come up with an implementable plan for your foray into digital enterprise. The plan should contain in explicit terms the digital enterprise niche into which you wish to venture. It goes without saying that having a feasible plan will set you on the path for success. Without it, your venture is likely to end up in chaos, frustration and failure.
Own a website
Your website is your online home or your virtual address. It’s where people – including potential and existing customers – come to meet you online.
Ensure that your website is inviting and efficient. Nobody enjoys visiting a website that’s filled with bugs or one that is non-functional. You should learn about search engine optimisation, user-friendly design, mobile compatibilty and other factors that will make your website a huge success. This is your real first step after laying all the groundwork. Don’t botch it.
Consider outsourcing this to a team of professionals so that you can focus on building your business. But if you’re looking to save cost or learn the process yourself, that’s fine too. A good place to start is this tutorial on setting up a website with self-hosted WordPress.
Crystallise your idea
You are probably wondering why this is not coming up before the research and planning phase. The reason is simple – putting an idea first before proper research and finding a marketable niche is detrimental. It’s not an advisable first step when starting your digital enterprise.
Let me explain why. Most people usually get overly attached to their ideas and are very reluctant to give it up when it turns out to be an option that is not profitable. They end up getting stuck and becoming frustrated. That is not what you want. So it’s better not to put the cart (ideas) before the horse (research and planning). Follow the right order for best results.
Promote your digital enterprise
Marketing your business is key to your success as a digital entrepreneur because the more people patronise you, the higher your likelihood of success.
Social media and other online advertising platforms are readily available options to help you achieve your marketing and promotion goals. Having said that, the best way to get optimal results is to adopt value-added marketing because other methods are becoming annoying to customers. Customers are getting tired of companies trying to sell them things by all means.
You should market your services in a way that puts value first. Give your customers a taste of what you can do for them. This can be achieved through free webinars, eBooks, providing useful insights via your blog and social media platforms, offering free trial of your services and other avenues through which you can truly help your prospective customers at little or no cost to them. The idea is to first create meaningful connection before trying to initiate a transaction. People are more likely to patronise a company that puts relationship first than one that is simply looking to sell its products and services without truly caring about its customers.
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Branch out
Diversifying is one of the best ways for any business to grow and you stand to benefit greatly when you diversify wisely. The moment you strike gold in one sector of digital business, you should consider expanding to a related segment. This will help you to maximise revenues and grow as an entrepreneur. For example, if you start by providing website development services for small business owners, you can proceed to include social media management.
Offering services in multiple areas means you can be certain of earning business all the time as there would always be a demand at any given time in one of the areas in which you operate. Share on XConclusion
Launching your career as a digital entrepreneur is a lot of work. However, it is equally rewarding not only financially but also in terms of personal development and valuable relationships. With an abundance of digital tools to assist you and countless ways to outsource most of your tasks, you have all that you need to start a digital enterprise.
What next?
Now that you are armed with sufficient information, it’s time to get started. Do you have a digital entrepreneurship idea in mind and you don’t know how to begin? Feel free to reach out; we are happy to help.
