The 51.2 percent of the world's population has access to the internet, according to the Study of the International Telecommunication Union (ITU), which means that approximately 3.9 billion people around the world surf the web.
The penetration of social media is 49 percent of the global population, which is 3.8 billion people. Nearly half of the global population uses one or more social media platforms, according to the Digital In 2020 report by We Are Social in collaboration with Hootsuite.
E-commerce can reach sales of over USD 26.073 billion in 2021.
There are approximately 9 million mobile applications on Google Play, 2.5 million on the App Store, and 700,000 on Windows.
All these figures directly show how as internet access increases, digital entrepreneurship grows.
Discover here what it is and how to get started.
First, it is necessary to clarify a myth here: there are no magic formulas to "make money on the internet while you sleep."
But if you are willing to genuinely study the market and offer a quality service to your future customers, we have some tips that could be helpful.
What do you need to become a digital entrepreneur?
Initially, you will only need a computer with internet access to get started. But besides the equipment, certain characteristics are essential for you to differentiate yourself from the competition.
Curiosity
Curiosity is simply the natural ability to ask questions and want to learn more about a specific topic.
Have you ever noticed that when children start talking, they ask questions about everything? They just want to understand the world around them, and sometimes, as adults, we go into automatic mode, especially at work, and forget to question why we are doing certain tasks.
Therefore, to digitally undertake, one of the most important characteristics you will need to cultivate is curiosity because only by researching extensively about the market and consumer behavior will you find openings to operate and offer a solution that truly adds value to people's lives.
Willingness to study/specialize
It is common for people to study for a while and think they already know everything about that subject, ignoring that knowledge and tools are constantly changing, especially on the internet.
In other words, if you have a lot of curiosity but don't enjoy studying, digital entrepreneurship is not for you.
This doesn't mean you have to spend hours of your day working on your computer. As with everything else in life, it's necessary to find a balance between learning more and using this knowledge to implement change.
To start, read at least one hour of news about your market daily. Over time, you will feel the need to specialize in a topic that has a greater impact on your business.
Willingness to help people
"Entrepreneurship is much more associated with identifying problems and opportunities to implement an idea that has positive impacts than being innovative and creating something never seen before."
Think about applications like Uber, for example. There's nothing innovative about a taxi service, right?
But if you are familiar with the topic, you will know that their service is not just about getting people into a car to go somewhere; it's about offering a more accessible, practical, and easier service.
A simple solution, but one that generated a great positive impact. From now on, that's where you should focus your efforts.
Advantages of digital entrepreneurship
The main advantage is that you can manage your business from anywhere in the world, as long as you have internet access. With this type of mobility, other advantages arise:
Spending more time with your family
Be honest: how many times have you missed or arrived late to someone's birthday because you were working or got stuck in traffic?
In digital entrepreneurship, this can still happen, but it will happen less because you can work from home if you prefer.
Of course, this doesn't mean you won't have a pre-established routine or that you can spend the whole day playing video games with your kids, but digital entrepreneurship will undoubtedly give you more freedom to adjust your schedule and participate more in your family life.
Flexible hours
At the beginning of your business, you will need to work hard to conquer your space in the market, especially if you are running the business alone. But working hard doesn't mean working all day because no one is productive all the time.
When you are a digital entrepreneur, you define your own hours, work during the hours when you are most efficient, and even reschedule an appointment due to an unexpected event, which is much more difficult when you work from 8:00 am to 6:00 pm.
Cost savings
If you only need a computer with internet access to start, you will save a lot by not having to rent a space for your company and all the expenses related to utilities, taxes, etc.
Of course, the amount spent will vary depending on your business model, but it is undoubtedly cheaper to start a digital business than to have a physical establishment.
Ease of reaching many people
According to We Are Social, over 4 billion people on the planet now have access to the internet. That's more than 50% of the world's population.
This clearly shows that doing business online is the best way to reach more people globally.
While in a physical business, your operations would be limited by geographical and mobility barriers, with digital entrepreneurship and a well-defined marketing strategy, you can reach various parts of the country and make more people aware of your product.
Easily scalable
Scaling a business means increasing production and sales volume without increasing investments and fixed costs in the same proportion.
Again, this will depend on your business model, but it is undeniable that it is "easier" to scale an online company than a physical store.
Thinking of an everyday example: online courses, as you probably already know, are educational materials produced to be consumed online.
Once you have developed your material and made it available online, anyone who pays for it can access it without you having to re-record the lessons. This type of product will also never be sold out unless you decide to remove it.
Unlike classroom lectures where you would have to go where the students are and be restricted to the place where you live. With this example, it is easier to understand the concept of scalability, right?
If you want to know more, read the 8 best tips to become a successful digital entrepreneur.
