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Digital Entrepreneurship: Innovation and Planning are Essential

Digital entrepreneurship is a way to realize your dream of leaving formal employment and becoming the owner of your own business.

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Digital entrepreneurship is a way to realize your dream of leaving formal employment and becoming the owner of your own business. However, for that, good ideas are not enough: just as in the case of entrepreneurs with physical space, the success of online acting companies also requires starting with a good business plan.

First steps for a digital entrepreneurship

First, you must establish exactly what type of digital business you want. Many think that because it is a virtual company, definitions, plans and structure are not necessary for success. However, you are going to need, basically, to take the measures that you would take if you were opening a company with a commercial point.

After making a first draft of the main ideas surrounding your project, look for points in your plan that differentiate it from all competitors, whether virtual stores or applications that fulfill the same function. If you can not differentiate yourself from your competitors, go back to the draft.

From that point, assemble a business plan as detailed as possible. It is essential for its structuring. Good ideas are only potential before planning. Then they can become a successful business.

With a properly drawn plan, it is time for execution. Forget all the old precepts and all recipes: this is the time to show how your digital company differs from others. Do not presuppose anything. Ask yourself to advance. “It reduces ideas to their essence and works from there,” says Elon Mush, creator of the company that originated PayPal and CEO of Tesla Motors and SpaceX.

On the page, structure the content around a good SEO strategy (Search Engine Optimization), so that your brand gets closer to your audience.

To disclose your company and your ideas you need to go behind your target audience. Invest in actions on social networks, in publications on your blog and interact with readers whenever possible.

Bet on innovation

To be an entrepreneur, in a basic definition, is to have the ability to make a business of your own, many times stopping being an employee of someone, changing the direction of the career. This simplistic idea, however, does not always take into account a factor highlighted by various authors as being extremely important for entrepreneurial activity: innovation.

In the ’40s, for example, the Austrian economist Joseph A. Schumpeter already stressed that being innovative, above all, is being a basic agent of a process of destroying good ideas to create something new, and therefore innovative. .

With digital entrepreneurship, the relationship with the new became direct on more than one occasion. Innovation is necessarily the essence of that market. First, because we are relatively new every year, we see companies give technological leaps and create new needs both for those who produce (content, products …) and for those who consume.

Second, because of the exploitation potential that still exists, since there is an unexplored public entering the digital world on a daily basis, according to UN data, 4.3 billion people still do not have access to the Internet.

Good examples of digital entrepreneurship

At the same time that there are traps waiting for those who want easy money, there are a number of good examples to analyze:

  • Netshoes: a company that sold in the courtyard of a university at the beginning of the 2000s, that in the first month online did not even generate a sale and that became years later in the largest electronic commerce site for sporting goods in Latin America .
  • Facebook: today the largest social network in the world, with nearly 1.4 billion users. Initially it was for the exclusive use of Harvard students. The giant Mark Zuckerberg acquired in recent years two other success stories on the Internet: Instagram, application to share photos, and WhatsApp, application for message exchange.

In common among them, and among many others, is that same factor highlighted as the essence of digital entrepreneurship: innovation. So, when you think about making money in the virtual world, do not forget the rules that make any business stand out, on the Internet or outside it: market research, competitive analysis, well-structured business plan. All that and an innovative product can lead your company to success.

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