Today, the world is full of people who call themselves digital entrepreneurs. But who are they? What is Digital Entrepreneurship? What job does a digital entrepreneur do? And most importantly, how can one become a digital entrepreneur, in this article you will find out everything you need to know about the world of online entrepreneurs.
What is Digital Entrepreneurship
Digital entrepreneurship is a form of entrepreneurship, motivated by the digitization of our society. Digital entrepreneurship is expressed through different areas, channels, marketing, trading, etc.
Digital entrepreneurship is entrepreneurial business operations that partially or wholly take place online. Many people immediately think of bloggers when they hear digital entrepreneurs, but you may also be more digital than you realize. If your business has a website or a social media page and contacts customers via WhatsApp, Facebook, or e-mail, your establishment is already partially digitized. The internet has taken a step further, hence we now live in a digital era.
Who is a Digital Entrepreneur
A digital entrepreneur is an individual who manages or runs an online business. In other words, a digital entrepreneur has both feet in the digital world and runs the business from there. Influencers, Bloggers, and Affiliates, all digital entrepreneurs. The list doesn’t end here, it goes on and on, especially today that the online world is populated. If you have an online business, and you work online, through any channel, then you can call yourself a digital entrepreneur.
Digital entrepreneurship is formed because the entrepreneur in question uses digital tools to carry out his entrepreneurial venture. Think, for example, a blogger, whose entire business is based on something that only takes place online. The blogger may write manually, but at the end of the day, the actual work is done digitally. His work takes place online and is eventually shared with the world on this stage as well.
And just like any other entrepreneur, most digital entrepreneurs can comfortably earn six figures monthly, it all depends on the time, effort, experience, and money invested in the venture. But unfortunately, most people still think that online business is a child’s play or a waste of time. Hence, ignoring this lucrative venture.
Pros and Cons of Digital Entrepreneurship
As it is for all businesses and professions, digital entrepreneurship also has its own merits and demerits. But I can assure you that the merits outweighed the demerits. Let see.
Pros of Digital Entrepreneurship
1. You are your own boss
Being your own boss is a dream everyone probably has, it gives you flexibility and freedom to do what’s best for your brand, and also take responsibility for your work.
2. You decide what you do
This enables entrepreneurs to follow their passion, talent, or personal values to decide on making a positive impact in society. Which can be very fulfilling.
3. Independence
Entrepreneurship makes you accountable and responsible as you depend on yourself financially, Which makes financial stability a priority.
4. Continuous income.
Digital Entrepreneurs provide you with the opportunity to make continuous profit from your previous work. Which unlocks more time, that is invested to launch other projects, creating an opportunity for passive scalable income.
Cons of Digital Entrepreneurship
- Result takes time:
Being an entrepreneur is never an easy job, results will come, but it requires a lot of discipline and persistence to keep going, even when you are putting in maximum effort. The results are not gotten instantly.
2. Instability
You might have months with low income, but in other months, you will make more than enough to live on. It’s harder to make plans if you can’t predict, how profitable the next month’s in your business will be.
3. Full responsibility
No one will give you anything for free, it is all up to you to make your idea work. If you have a business, it’s up to you to manage and run it. If you don’t put in the hard work, you don’t earn enough.
4. Time management
It is time consuming regardless of the venture you are into, you just have to invest your time. This often leads to people criticizing you for spending a lot of time online, especially when starting out.
How to Become a Digital Entrepreneur
There are several ways today to earn serious money online and become a digital entrepreneur. Especially in the field of social media, if we think of digital entrepreneurs, we think of networkers. But there are many other options,
Blogging:
Becoming a Blogger is one of the most solid possibilities to work online, and it is also certainly one of the most versatile.
You might be wondering, “How do I make money with my blog?” It’s not as hard as you think. There are several ways to monetize your site—from making money through affiliate marketing to utilizing ads on your page, or even by selling your own products. The best way depends on what type of blog you have and the audience it’s catering to. If you’re looking for ways to earn money online, I have written a post on the Best Guide to Monetize your Blog without breaking your budget!
YouTube:
This is a very good venture with the right knowledge. Monetization with YouTube is the main money storm if the strategy is right.
Affiliate marketing:
This is making money through promoting affiliation links on any channel, to generate quality traffic to the sponsored merchant’s site, in exchange for a commission on sales.
Social media manager:
This is a job where you are hired by a brand or an individual to, mainly, manage its marketing and advertising on social channels.
Freelancing:
This is a job where an individual offers freelancing service, generally of an intellectual nature, to organizations or private individuals for a fee.
Publishing ebooks:
Thanks to Self Publishing, you can create, publish and sell your books on the Internet in digital format, without resorting to a traditional publisher.
E-commerce store:
This is a traditional online store where users buy goods online from the owner of the site and get them delivered to their location. These amongst many others are digital entrepreneurial ideas.
Read this: Top 10 Most Successful Entrepreneurs that Shocked the World
The Big Conclusion
The best thing any entrepreneur can do for his business right now is to go digital, even if the work is done offline. Today half of the population is on the internet, not only professionals but also users and potential customers. Almost everything we need is in our hands. We use mobile phones, tablets, and PCs to read news, watch videos, chat with friends, make new friends. We are practically always online.
Therefore, why not take advantage of this and make more in whatever field you work in. Taking your business online is the best thing you could do to prepare yourself for 2022.
Photo by Ketut Subiyanto from Pexels