We live in a day and age in which empowerment and individuality are embraced, and this mindset is only gaining momentum. The future without a doubt belongs to entrepreneurs and this is something to be really excited about. Long gone will be the days in which our commerce was dominated and monopolized by big box corporations and in will come heart-centered businesses in which people will be offering services and products full of passion. As a generation that values happiness over 9-5 cubicle paychecks envelops upon us, we begin to understand the bold transformation of the business world.
Currently, statistics show that amazingly five out of seven job holders in the U.S. will become entrepreneurs in the future, and the reasons behind this are hard to argue with. When you become an entrepreneur, you are your biggest and loudest critic, which brings forth some of the best, highest quality work in the world. Consumers are definitely privy to this fact, and more and more, they are taking their business to a thriving entrepreneur over a corporate entity. If the basic idea of being your own boss isn’t appealing enough, all of the other perks that come along with building a brand that belongs all to your blood, sweat, and tears should seriously make you reconsider your career path. The future of entrepreneurship is headed in a direction we’ve never seen before, and the changes are vastly innovative and fast-approaching. So what changes can you expect in the entrepreneurship world? Here are just a few of the momentous shifts happening.
1. Digital Nomads: This is the embodiment of what it means to be an entrepreneur within the paradigm of the small business. These types of entrepreneurs have been gaining tremendous propulsion as of late, and will only continue to dominate the small business sector. What is a digital nomad? This is someone who offers intangible services through the Internet. They can work from anywhere, at any time, and for any client anywhere in the world. Being a digital nomad means being in a business that virtually has no limits and here, someone can do what they are most passionate about on their own terms. It’s intellectual property that these entrepreneurs are selling, so there are no investments generally for inventory goods or staffing. There is a precious quality of life and empowerment that comes along with choosing this route, but there are also challenges. Not everyone has the self-motivation to work on their own schedule. There is nothing wrong with this, but it is a reality that some digital nomads face. The dedication and discipline it takes to work under absolutely no rules or regulations is hard to come by and it’s definitely not always easy to uphold. And, like for any entrepreneur, there is no guarantee of work from one month to the next, so being savvy with finances is crucial. But on the flipside of this, clients can view digital nomads as extremely valuable to do business with. Consumers have the impression that digital nomads will do good work, as it is their livelihood that depends on repeat business and word of mouth. Digital nomads will take the reins in the years ahead as the type of entrepreneur that paves the way.
2. Aggression Dissolves: In the future of entrepreneurship, we say goodbye to aggressive sales people. We say goodbye to pushy marketing ploys and invasive selling techniques. Entrepreneurs are in touch with a certain type of business value that focuses on the relationships with their customers rather than just the monetary side of things. This flips the script on age old marketing strategies and allows the entrepreneur to sell to their customers in a way that is catered to the business relationship. This further gives entrepreneurs the upper hand over larger corporations that have staunch systems in place for marketing, making the small business owner more appealing to the consumer.
3. Personal Brands: One of the best parts of being your own boss is that you have the power to stay true to your personal brand. The integrity of what you build, what you represent, and the passion that you have to offer people doesn’t have to be sacrificed when you’re the one in charge. For instance, if you’re an entrepreneurial writer, you want to stay true to your written word and there is no traditional publishing company or third party that stands in your way of the market. Your customers get to see the authenticity of what you have to offer and that goes a long way in the terms of value and loyalty.
4. Banding Together: While the entrepreneur of the future will be open and forward thinking when it comes to enlisting a mentorship with a coach, collaboration and partnerships will be key to entrepreneurship successes as well. Long gone will be the days when going it alone seemed to be the most viable option, and enter the method of running a business fueled by trusted relationships. When the entrepreneurial world becomes something based upon inner strengths, passions, and leading with heart, along with that also comes trust and integrity. By putting trust into loved ones or coaches in business, entrepreneurs become extremely empowered to be effective and monumental leaders. Working together in a new age in which small businesses trump old, big box corporations is the only way to be a successful entrepreneur that helps to pave the way for the future. When we band together, we have an entire support system we never did before, and when we reach out for help, we keep our humility, along with always being open to learn new things from one another. Knowledge is power in the future entrepreneurship world and we gain the best wisdom from our peers.
5. Networks Become Currency: Community is everything when it comes to being an entrepreneur in this world and especially in the future. In a business in which you work for yourself and making money while you sleep becomes a reality, you have to make sure you’re honing in on the right networks for your market to aid in that success. Entrepreneurs will focus on networking with other entrepreneurs that can help them expand their business and add even more value to it. And networks aren’t just person-to-person contact. In fact, a large portion of networks will be online through social media platforms such as Facebook, Twitter, and Pinterest. Engaging with potential clients or trying out new marketing techniques can take place with the click of a mouse or the touch of a smartphone screen on LinkedIn in just seconds. This future type of networking is crucial to the success of any entrepreneur in any type of business, and what’s even better is that it allows you to connect with any network anywhere in the world at any time of day or night.
6. No More Cost Controls: There is no longer a financial barrier when it comes to starting up your own business. The entrepreneur decides what to invest in, as there is a streamlined vision to financial fruition. When an entrepreneur falls into the category of a digital nomad, this becomes even truer, as they are selling intellectual property that has no cap or flow through to be concerned with. Services such as PayPal and the Square allow entrepreneurs to manage their own profits at the simple touch of a button from any computer or smartphone anywhere. Not to mention that transactions are fast and safe, which adds even more to an entrepreneur’s financial freedom.
7. Internet of Things: This fascinating technology has become more and more popular over the last handful of years and it doesn’t show any signs of slowing down. In the age of convenience and instant results, the Internet of Things is something that speeds up our world. What exactly is “The Internet of Things”? It is the concept of which anything with power is connected to the Internet and vice versa. Whether it’s in regards to a toaster or a jet engine, the Internet of Things creates relationships between things and people, or with things-to-things amazingly. The future of this simply, but profoundly states that “anything that can be connected will be connected”. So what does this mean for the future of entrepreneurship? From an organizational and time management standpoint, the Internet of Things makes any budding entrepreneur’s life way easier by streamlining so many systems and processes within a business. Everything from how you manage your money to automatic systems put in place for business practices to even having an efficiently functioning morning alarm clock and scheduling platforms—the Internet of Things makes all this easier on you as an entrepreneur, and not only freeing up time and energy, but also ensuring that your business run the best and smoothest possible. On the other side of the coin, the Internet of Things will be perfect for the small business owner or start-up, as it allows an entrepreneur to offer services or technology necessary to the market that are innovative and original. Entrepreneurs will have the advantage to innovate in an entirely new kind of spectrum, offering services to customers, or to merge with bigger products.
8. Heart-Centric Businesses: Entrepreneurs will turn their businesses into something centered around their hearts, as they are doing what they are born to do. When passion and natural born gifts drive the momentum of a business, there is no better quality of a product or service in this world. Simply by embracing the power of the heart-centric business, entrepreneurs add real value to the world in ways we’ve never seen before. While most people are good at many things, there are only certain gifts we come by naturally and utilizing these to the fullest means the spectrum of entrepreneurship becomes the game changer in global commerce.
9. Choices Become All Your Own: No matter what niche the business is in, an entrepreneur will be able to run that business anywhere in the world of their choosing. There is something to be said about inner happiness and prosperity when it comes to being about to live, work, and breathe where you want. There is nothing more empowering than creating a dream around a place in which you are comfortable and fulfilled. This will give entrepreneurs the ultimate flexibility to create systems in which they can offer the best products and services to the customer while not having to sacrifice their true home.
10. Total Life Transformation: The future of entrepreneurship is a huge life transformation for anyone on board. It’s scary, it’s exciting, and above all, the most rewarding thing you might ever do. To turn your career into something that is one hundred percent true to your core, your gifts, and your spirit is something that we rarely saw in the past. We are coming to a point in time in which more and more people are running full force into that new way of life and giving into doing what they love. The conviction to make an inner passion a career is growing more and more every day, and it is humbly and widely accepted by other fellow entrepreneurs and potential customers. Much like the business these future entrepreneurs will create, their lives will bloom into what they were always meant for and this will translate into bold, inspiring, and cutting edge businesses.
Many people have the dream of working for themselves and being a part of the hugely fortuitous future of the entrepreneur world, but not everyone has tapped into their gifts to get there. Are you having difficulty discovering your life purpose and the passion you could bring to the future successes of entrepreneurship? Ask yourself these simple five questions to spark the flame within yourself that will guide you towards your true gifts.
✓ Between the ages of 4-16, what was your passion? Who we were as children tells us more about ourselves than we could ever imagine.
✓ Think about deep conversations you have with your closest loved ones—what topics seem to keep coming up? Chances are, if you’re talking about it constantly to those you trust the most, then there is a deeper, meaningful reason for this.
✓ If money was not an issue, what would you be doing? Imagining a life of financial freedom gives you the opportunity to really be honest with yourself about how you would spend your life.
✓ What fills you with the most energy? Energy is everything in a person and you must find what radiates the most positive kind from within
✓ What area do people typically ask for your help or opinion in? People will take notice of your natural abilities, most times more so than you yourself do.
✓ What are your non-negotiable values? Your deepest morals really shine a light on what the purpose of your life entails.
✓ If you knew you would die a year from now, how would you want the world to remember you? This speaks for itself, as the legacy we leave is ultimately our greatest passion.