
Entrepreneurship in a technological world
Published on June 7, 2022
An alternative route has been presented to many: entrepreneurship. But how to do it when the new technological tools available are so vast, and -perhaps for the same reason – confusing as well?
Pablo A. Ruz Salmones
CEO, X Eleva Group
Through the pandemic, one thing became clear: the constant integration of technology in business is here to stay. Both concepts, technology, and business, are intertwined in the contemporary world.
Many people and businesses were suddenly overwhelmed by zoom calls, e-commerce, the closure of stores, a lack of knowledge about new tools, and fiscal pressure, among other things. Thousands and thousands of small businesses closed across the globe despite the effort some governments tried to provide them with.
A correct understanding is a must
Thousands of jobs were lost, and though many have been getting their employments back, an alternative route has been presented to many: entrepreneurship. But how to do it when the new technological tools available are so vast, and -perhaps for the same reason – confusing as well? Keep in mind we only hear the success stories, about the startups that have raised millions of dollars, but per every single one that succeeds, there are hundreds – if not thousands – that don’t. A bad understanding on technology is one of the reasons why.
The first vital thing to understand is that there is an incredible technological illiteracy, which is of course related to a socio-economic structure that puts some people in disadvantage when it comes to a deep understanding – and therefore implementation – of technological tools.
For example, many people believe that if someone is capable of surfing and successfully interacting with others in social media, then that person knows how to start a business with the help of technology. Though it is true that both technology and social media are part of the same world, they are in fact quite different, and there is a huge gap between a practical and a specialized use of technology, which is an effect of the technological illiteracy we spoke of.
The key points of entrepreneurship
In order to grow a business and be a successful entrepreneur in the technological world, one has to know where to start, and though there are no “easy tips” – even less so after the pandemic – here are some general guidelines to start with:
- Find out the true possibilities of technology. What can it and what can’t it do? This is vital to be able to distinguish fantasy from reality, while not underestimating tech’s capabilities.
- Think: “if there was no tech, how would I build my business?” Once you are able to answer that question, you must gradually start thinking on how to substitute and enhance some of the processes involved with your business (in all departments: sales, marketing, finance, logistics, etc.) with a technological tool.
- Learn about the specialized tools that you may need to solve the issues you identified previously, so you become more and more capable and knowledgeable in the field.
- Look for specialized help. Sometimes it is important to look for those who specialize in certain areas you may feel less confident about, so they can guide you and help you get familiarized with your subject of interest.
- Be mindful about the budget that may be involved when implementing technology, and always remember, that what is cheap, is probably not very good either.
At X Eleva Group, we are committed to delivering the best technology and business consulting so that you can take your business to the next level. You can get in touch with us at any time.
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