The Covid-19 pandemic has brought to the fore even more strongly the need for modern businesses to be online and be able to offer services remotely or sell their products from e-shops. However, this revolution has been going on for several years and it is important to understand the course of digital entrepreneurship and the leading digital entrepreneurs, in order to evaluate what steps our own small or sole proprietorship should take in this direction.
Where it All Started…
In the 2000s, global online services began to significantly reduce the cost of establishing businesses, expanding the opportunities to develop ideas quickly and efficiently. Building an e-commerce website once cost almost $ 1 million, but now all you need is internet access and you can even build a simple website yourself.
This development was followed by the explosion of innovation with social networking platforms worldwide. Facebook, founded by Mark Zuckerberg in 2003 in his dorm room, may be the original social network, but millennials Pavel Durov and Yoshikazu Tanaka at about 30 years old also managed to create huge social networks, with VK in Russia and SNS Gree in Japan, respectively.
By playing on the fingers of their hand the likes on Facebook, Google, Skype, Twitter and Linkedin, the founders of new businesses can organize each project themselves. It is clear that these new data marked the change of ERA in business operations and marketing. In this way they can create an interactive “product” and appeal to a huge consumer base. This is now particularly important, as every business tries to offer specialized services for” global ” consumers, i.e. addressing local markets offering a globalized solution.
The New World Order
The importance of digital technology to the global economy will continue to grow. According to an Accenture survey, up to 10 million new youth jobs could be created by the next generation of global digital entrepreneurs. Big companies are struggling to master innovation, and many are now buying up start-ups in an effort to reinvigorate their technology and business model.
Existing businesses are making strides in their digital transformation by creating mobile applications, leveraging IoT to offer connectivity solutions for devices and other items such as cars on a network to share and exploit their data, and entering – those that have not already entered – the world of e-commerce.
In Greece many businesses are family owned, in which up to 3 generations are employed. The entrepreneur must be willing to harness the competitive advantage of each generation from the wisdom of the old to the fresh ideas of the younger in order to evolve and survive in the new world order.
An entrepreneur today must be informed about the latest developments, evaluate them and acquire new skills and knowledge in order to be able to exploit the huge potential of e-business models.