What Makes 21st Century Entrepreneurs Different?
21st century entrepreneurship encompasses a very different view than enterprises years ago. There are technologies and processes, which 21st century businesses have adapted in order to remain ahead, operate strategically and plan for the future.
Trends Magazine (2009), states that entrepreneurs are vital to 21st century economies because of their innovation, ability to bring unique solutions to problem solving and the ability to create new jobs quantitatively.
Entrepreneurs are change leaders
Cloud (2010), describes the process of change leadership as anticipation, an analysis of external and internal circumstance, acting upon timely and appropriate data, strength of team members and finally an affirmation of actions within the continuum of organizational improvement. Change leadership happens when leaders are able to recognize which organizational areas are to be developed or altered in order to accommodate future goals and milestones.
Entrepreneurs embrace technology
Entrepreneurs of the 21st century recognize that technology is a critical component in being assessable to customers. From the development of mobile applications which touch end users around the globe, to conducting global business meetings virtually, it is a must that entrepreneurs adapt by adopting and inter-weaving technology into the procedures, operations and communications of today’s business.
Entrepreneurs seek resources in environmental disasters
James Rivera of the Small Business Administration discusses how many business owners along the East Coast are coming back to find physical damage to their buildings and property as a result of Hurricane Sandy. In addition, thousands of businesses are dealing with the economic blow caused by power outages, damaged inventory and lost profits from being closed down. Similar to the SBA, there are many resources available for entrepreneurs such as the NYC Small Business Services Business Recovery Programs, or the Federal Emergency Management Agency (FEMA). Entrepreneurs of the 21st century actively seek these resources for the purpose of remaining on track and bouncing back – turning negatives into positives.
Entrepreneurs use social media strategically
Entrepreneurs of the 21st century are wise in their approaches to using social media. They leverage professional connections and relationships, seek specific targets through advertising and innovate unique ways to generate leads while remaining current and valuable.
21st century entrepreneurs know what it takes to succeed
According to Entrepreneur.com, today’s successful business leader is decisive, insightful and constantly challenging company conventions to keep ideas flowing. More importantly, they know what drives a successful business and do what they have to do based on education, experience, economics, consumer need and strategy.
References:
Cloud, R. C. (2010). Epilogue: Change Leadership and Leadership Development. New Directions For Community Colleges, (149), 73-79.
The Emerging Era of Global Entrepreneurship. (2009). Trends Magazine, (76), 24-29.
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