In today’s age where technology plays an important role in people’s lives, digitization engenders success. With innovation and the power of the internet, transactions—personal, professional, and commercial—have become convenient. Thus, businesses make sure to take advantage of this, giving birth to digital entrepreneurship.
Are you ready to turn your business plan into a thriving one? Digital entrepreneurship is the way to go. Learn more about it here as we talk about the ins and outs of this method.
What is Digital Entrepreneurship?
With the rise of internet users worldwide, 4.65 billion of which being social media users, businesses are intent on dominating the online world. Because of digital transformation, entrepreneurship has evolved and prospered in ecommerce; resulting in a change in business processes, practices, and strategies.
Digital entrepreneurship seeks a better approach to sales and business expansion. It’s a key for entrepreneurs and those who plan to own a business to better opportunities. That’s why if you want to embark on the business field, it’s best to learn the basic marketing skills and requirements to grow a company.
The success of a business, especially in this time of age, lies in knowing how to effectively find clients and customers who are open to new ventures. It also involves the ability to revamp product features, services, and other offers; with the goal of managing costs and risks, and ultimately increasing revenue.
All these can be achieved when you have the knowledge and expertise in technopreneurship. This isn’t just for current business owners; it also opens possibilities for students who aspire to be one. Moreover, having the education and the technical skills of Gen Zs, they’re expected to be the front runners of the economy.
Related Article: What is Technopreneurship: Everything You Need to Know (Plus 5 Tips to Success)
What is a Digital Entrepreneur?
As mentioned above, digital entrepreneurship is a way for people to learn how to grow businesses in this internet era. With digitization in place, businesses are now more accessible and transactions can be done online. With the right preparation, you can be a successful digital entrepreneur.
Modern businesspeople leverage technology to reach the global market, with particular focus on strengthening their business on different digital platforms. They develop and offer services and products on the online market. Most young entrepreneurs center their business on what they can offer online. There are also those who have digitized their brand and to get customers even across borders.
Simply put, digital entrepreneurs take advantage of the digital space to increase sales. That said; if you want to grow your business, you need to embrace digital technologies. Regardless of your line of business, it’s an effective marketing strategy to transform traditional business to a new innovative online model.
Related Article: The Future of Technopreneurship in the Philippines
Digital Entrepreneurship: Every Entrepreneur Should Know
Incorporating science and technology into marketing isn’t new. Business professionals and students are committed to combining both to improve entrepreneurship. Nonetheless, here are some points you need to know before going digital.
- Information and Communications Technology (ICT) market
- Access to digital marketers
- Prospective foreign partners
- Digital enterprise culture
- Technical, digital, and marketing skills
Importance of Digital Entrepreneurship
Traditional business owners need to upgrade their marketing strategies and business models to ride the wave of technology. Penetrating the online world isn’t just effective in reaching a wider audience; it also helps enterprises know the pulse of their target market.
Since almost all people are online every day, you need to make use of the internet if you want to see the fruition of your business plan. To paint a picture, here are the top 3 perks of being a digital entrepreneur.
1. Simple Business Entry
The first thing on the list is the convenience it brings when starting a business. Compared to traditional business, this allows you to save more time, effort, and money. You don’t need to look for a strategic location to ensure business success because the best place is the internet.
2. Global Scale
Once you have your own website to showcase your brand, it’s easier for your target audience to see what you’re offering. Plus, your business plan can give birth to something better with the influence of science and technology.
Another important benefit of digital entrepreneurship is effectively promoting your business without boundaries. Your product or service can reach people in different parts of the globe. Your sales can skyrocket when you’re able to connect with your market and leverage global distribution through digital marketplaces.
What Makes a Successful Digital Entrepreneur?
To thrive in this kind of business, digital entrepreneurs should have what it takes to lead a company, whether it’s a startup or an established one. If you’re an aspiring business owner, here’s what makes a successful entrepreneur.
1. Scalability and adaptability
2. Innovative ideas
3. Resiliency and willingness to take on different business strategies
4. Complete knowledge of B2B and B2C marketing platforms
5. Skills for using integrated apps
How to Become a Digital Entrepreneur
As highlighted previously, being a digital entrepreneur enables your business to reach new heights, not to mention the volume of internet users who are into shopping online. With this, there are programs for students to be technopreneurs and traders. There are also campaigns, such as PINOYpreneur: The DOST-TAPI Technopreneurship Programs, that support and equip entities to achieve their marketing goals. These include startups, students, professionals, and micro, small and medium entrepreneurs (MSMEs).
Another way to become a digital entrepreneur is by attending courses about business and technology. These aim to encourage not just professionals, but also the students who aspire to be in the ecommerce industry. Plus, such courses prepare individuals to be ready with their 21st century skills.
Related Article: Technopreneurship 101: Startup Ideas for the Computer Science Graduate
Be One of the Frontliners of Digital Entrepreneurship in the Philippines
The Philippines is rich in natural resources and competent manpower. That’s why it’s not surprising that Filipinos are competitive in different fields, including technology and commerce. We are usually commended for being resourceful and resilient, which enables us to rise above every storm we face.
When it comes to business, Filipinos aren’t left behind. If you want to help build the economy, start working on your business plan and enroll yourself in a Bachelor of Science in Entrepreneurship or related courses. CIIT Philippines can help you reach success by equipping you with the necessary knowledge and honing your expertise in the field. With our world class curriculum, you have a brighter future!