The Digital Economy is here here to stay, wake up to its possibilities, and embrace the new wave of change
The digital economy has arrived and the way businesses and consumers interact will never be the same. It all started with the Internet, which officially started off slowly around 1993. Fast forward to 2018, and the new online economy has arrived as the defining force that shapes the way business is done today and in the future.
The digital lifestyle & entrepreneurship are an attractive way of life. There is a seductive image of a casually-dressed and ambitious business owner working from exotic locations with laptop in hand. This type of freedom is a thrilling reality for many professionals. Business opportunities appear to be everywhere and available to anyone willing to move forward and embrace the new economy.
Any conversation about a digital lifestyle & entrepreneurship is incomplete without a discussion of Amazon, a name that has become synonymous with the new plugged-in society. This company started off selling books online between 1994 and 1998 and expanded from there. Over the past ten years, society has embraced the digital economy. Amazon’s reputation for fast delivery and excellent customer service is one of the reasons it led the way as one of corporate leaders recognized for moving consumers into the digital marketing age.
The internet has re-defined the way of doing business
That is good news for customers and businesses alike for many practical reasons. Technology has leveled the playing field for many ambitious entrepreneurs interested in fulfilling their dream of a digital lifestyle & entrepreneurship. While having working capital available is always crucial for success, small businesses can now get started with much less cash due to the changing business climate where technology makes it possible for a small business to run an ad on Facebook reaching thousands of prospective customers in a day for about $30, according to Digital Bloggers.
There are many notable differences between the traditional economy and the digital economy. Exciting technological developments, beginning with the wide use of the Internet, has transformed business opportunities of yesteryear that centered around logistical considerations and economies of scale. In sharp contrast, today’s business development and management emphasis revolves around digital marketing expertise. The new economy leverages social media relationships, search engine optimization practices and international opportunities largely unfettered by the logistical and capital limitations that controlled businesses in the past.
The digital lifestyle & entrepreneurship way of life is no longer out of reach for the majority of professionals willing to take a leap of faith. New business opportunities are being created at a fast pace in this to adjust to the new technological innovations that are fueling this new digital marketplace.
Are you leveraging the Digital Economy?
A digital economy, a new order.
Gone are the days when a company would have to hire and train a professional sales force to promote the company’s products or services. Whether the focus is on attracting new customers or creating operational efficiencies, technology always holds the answers. While it is natural for “old school” thinkers to feel a bit threatened by the “New Order,” the possibilities are exciting once the workforce begins to fully understand the potential and stops focusing on lost jobs.
You can walk into any coffee shop and see people running a business from a table top, with their computer operating as “command central.” The Digital Lifestyle & entrepreneurship are alive and well for all to see. The rules have definitely changed for many people seeking out new business opportunities, and so should you.
New Technology Fueling the Digital Economy
Forbes reports that technology has created a new world where one-half of the world’s consumers are online, manifesting as a $3 trillion business network where intuitive devices and a sophisticated and growing technological infrastructure transform the way consumers purchase products. Artificial intelligence, blockchain technology, robotics, augmented reality, virtual reality and The Internet of Things represent major breakthroughs that are expected to exponentially thrust society into a major transformation in much the same way the Internet did decades ago.
Some of the benefits are driver-less cars, the power to predict epidemic outbreaks and dangerous storms ahead of time when there is still a chance to change the outcome. An algorithm was designed that can warn a person of a heart attack up to four hours before they occur. Additionally, new technology is expected to be able to eliminate harmful carbon emissions. These are just a few of the exciting business opportunities that are expected to improve life in the near future.
New Jobs and Skills Necessary for the Shift to a Digital Economy
The digital economy brings good news for the workforce. While change typically brings about feelings of doubt and insecurity for workers worried about being replaced by a machine or robot, there are more reasons to feel hopeful than ever before. The digital lifestyle & entrepreneurship has increased business opportunities for dreamers and workers alike. Granted, there is a lot of work that must be done to try and keep pace with the fast pace of technological innovation, as companies retrain employees so that they fit into the new economy.
Harvard Business Review published the conclusion found in MIT Sloan research, which found that the companies that are adapting well to the new digital economy are 26 percent more profitable than their less adaptive competitors. There are limitless opportunities for workers willing to train for important roles in this new economy. The digital lifestyle & entrepreneurship creates new business opportunities daily.
Deloitte Insights reports research findings that show more emphasis on hiring employees for their intrinsically “human traits,” such as empathy, persuasion, problem solving and communication skills. Repetitive and boring tasks that are often unfulfilling jobs are being turned over to robots. Based on these changes, employees can look forward to a more fulfilling work life.
What does all that talk mean to you?
There has never been a better time to start a business. Anyone willing to embrace the digital lifestyle & entrepreneurship can have it all. That doesn’t mean it will be easy. Business opportunities abound in the digital economy. It is important to remember that all the customers you’ll ever need are online and accessible without spending a fortune in advertising.
The future looks bright for entrepreneurs willing to tackle this exciting new business frontier. There is no doubt that the path to the future will require “all hands on deck.” The only limitations to worry about are the ones that entrepreneurs place on themselves.
Long gone are the days of traditional, the digital is here and it is here to stay. Embrace it.
I have certainly decided to take that step and embrace that change. I am a digital and a lifestyle entrepreneur who has started his business from scratch without any headache. It has been an incredibly rewarding journey and it all started with joining The Six Figure Mentors program.
If you would like to leanr more about my story, click here.