Starting up a business used to seem like a farfetched dream, with prospective business owners risking everything to commit to their new venture.
Whether that was by putting in extra hours when they were finished with their day jobs or quitting their careers to work for themselves, starting up a new business would have been a grafting affair.
Nowadays, it would not be true or fair to say that modern entrepreneurs do not work as hard but with the resources that are available can make it easier for them to conduct their business. There are also many ways in which it may be harder.
For one, things are done digitally. Before, entrepreneurs would have had to communicate with prospective customers, staff, and partners either face-to-face, on the telephone or by email. These methods usually take a little more time to do and take a lot of work to see results.
For example, a startup owner selling handmade goods would have had to find people to help promote them through word of mouth. They would then have to set up a temporary or short term stall, go to a car boot sale or sign up to trade’s fairs to find a way to sell their product.
Nowadays, creators can either set up a website or sign up to online marketplaces such as eBay or Etsy and list their item. It can then be left alone as customers visit the page and buy if they want. Hours do not need to be spent market selling. The items sit on a 24-hour marketplace ready to be bought at any time.
Modern life has also made it easy for startup companies to become global. At a point in time, being a worldwide recognized name would have been the dream for any business startup. Even to be known in your local community. With the internet, some start-ups may find themselves becoming popular in an international destination without having to ever travel there themselves.
Before, entrepreneurs would have to take business trips with the intention of promoting their venture. Now, all they have to do is market themselves to communities in these parts of the world and successfully gain interest. It is not necessarily easier, but it can now be done remotely.
Entrepreneurs have to be multitasking, jacks-of-all-trades in the modern business world.
Before, there were fewer chains of communication and forms of marketing. Also, it was easier to know which ones were effective. If you ran a home service business, then leafleting door to door may be effective. If you ran a catering business, then promoting via popular venues may have been the best way.
Nowadays, you must be knowledgeable about different forms of social media, how to correctly send an email that is not registered spam and effectively use instant messaging. Potential customers can be found on all of these mediums as people are always online and you never know how or where your business may be seen.
However, if you can’t tweet properly or post FaceBook updates like a spam bot, you can quickly put potential customers off.
There are many ways in which the business world has changed for those who want to start a new venture. One thing that is sure is entrepreneurs need to keep up with the times to maximize success.