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Culture and Demand: Shaping Entrepreneurial Success in 2019

jason-kulpa-calendarIt is safe to say that, where entrepreneurship is concerned, each new year brings with it a variety of projected trends illustrating new potential shake-ups, market shifts, and emerging demands. This upcoming year, however, may ring in the most significant and diverse list of such trends in recent memory. Namely, continued shifts in youth culture and subsequent changing expectations have redefined several key aspects of entrepreneurial success, and to keep pace, budding and seasoned entrepreneurs will need to be in tune with these trends from day one.

That said, here are several key focal points within 2019’s edition of projected entrepreneurial success.

Emerging culture

Generational culture — especially that of younger generations — tends to be a consistent spurring force in entrepreneurial trendsetting, and the current younger generation is objectively significant for this reason alone. Attitudes and cultural perceptions continue to change dramatically on a variety of fronts, and this in turn has re-shaped major aspects of the business experience — from workplace environments to market demands rooted in autonomous technology. In 2019, expect this phenomenon to continue, especially in terms of consumer personalization and social responsibility.  

Data

The creation, management, and regulation of big data is far from new in an entrepreneurial context, but 2019 sees it reaching new heights as consumers demand more control of their data. This shift is not surprising, given the variety of controversies and big media stories surrounding data breaches and mishandling during 2018, and now, many entrepreneurs are putting stronger emphasis on consumer consent within the purchasing and use of data — both to increase accuracy and to instill peace of mind within their respective target audiences. This, in turn, is sure to create an even broader conversation on the initial generation of consumer data.

The power of content

The current business climate has generated a newfound emphasis on content, from written articles and blogs to videos and multimedia presentations, and this trend bodes well for young companies and established ones cutting their teeth on modern values. Content helps to humanize business interactions by inspiring thought and emotion from audience members; it is an organic, yet effective means of supplementing preexisting engagement methods. Thanks to current technology, there are more venues than ever for content creation and syndication, and paired with the increasingly relevant variable of consumer trust, this too stands as an asset to businesses spanning countless industries.

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Essential Podcasts for Entrepreneurs

jason-kulpa-podcastsBusiness owners, both new and established, should be constantly learning and innovating; this is an obvious fact within entrepreneurship, one that must be embraced and applied quickly to ensure success in a rapidly changing business landscape.

Today, podcasts stand as an increasingly popular and efficient way to absorb new information about countless topics, and this is especially true of entrepreneurship and its spectrum of subtopics — from the dissection of managerial ideologies to the latest tools and tactics employed by rising names and entities.

If you are interested in adding podcasts to your arsenal of knowledge, here are several great programs to get you started.

“Unconventional Life”

As mentioned before, entrepreneurship is changing; it always has been. In a modern context, this change is now synonymous with the unconventional — that is, new and non-traditional ways to approach business and potentially carve new experimental niches. Jules Schroder’s “Unconventional Life” uses this notion as its thematic foundation, highlighting budding new entrepreneurs — most of them under 30 — to extract the unique and exciting ways they are shaking up their respective markets. If your ambitions lie in changing the world on your own terms, this show is a great starting point for inspiration.

“Entrepreneurs on Fire”

Hosted by John Lee Dumas, “Entrepreneurs on Fire” has for several years focused on the transparent, honest approach in entrepreneurship, all the way down to the financial details of its host (Dumas regularly reveals his own earnings, including how much he has made since the show’s 2012 inception). The intent here, according Dumas, is to “emulate success” and subsequently help listeners avoid failure. This show is a dual benefit, as it is both an insightful reference point and a strong example of entrepreneurial decency.

“Legends and Losers”

Though many would rather avoid the topic all together, failure is unfortunately a common part of entrepreneurship. For every entrepreneurial legend, there are many more “losers” who come up short of their goals, hence the name of the “Legends and Losers” podcast. Though the title’s latter group may come off as a bit harsh, the concept of “losing” is handled as a learning opportunity rather than an irreparable defeat. Host Christopher Lochhead aims to “spark your spirit, stoke your perseverance, make you love your failures, and for your inner legend all while keeping you laughing –” a healthy, constructive approach that keeps a sensitive topic accessible.

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What Does it Take to Start a Tech Business in 2018?

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With technological advances becoming more prevalent in society, more and more businesses have been cropping up to deliver new or better technology products and services to the consumer market. Flourishing tech businesses address growing demands within targeted demographics and find their success in efficiently solving real-life problems in ways that haven’t been addressed, or that are better than solutions the current market offers. Thinking of delving into the industry? Here are five pieces of advice to help you launch your tech business in 2018.

 

Choose a Location

If you’re currently living in the U.S. or have aspirations to move, Silicon Valley may pose an appealing location for establishing your tech business. However, you might want to refrain from buying into the hype too early in the game. Silicon Valley is already saturated with larger, more established tech companies and the cost of living may prove too expensive for business businesses to sustain themselves. Instead, look to other places that boast good soil for high-tech startups and industry talent and that will set your business on a greater trajectory to success.

 

Develop Your Product

While it may appear obvious, among the most important steps in starting a tech business is to actually develop a product that interests people. In the case of most business software tech companies, coding is free, so establishing the foundation of your business is a crucial step that won’t put a dent in your pockets. A product can be an entirely new and innovative product, or one that improves an already existing product or process. Regardless, it’s important to actually begin building up your business before your ambition carries things too far out of your hands.

 

Establish and Source Talent

To supplement your product, ensure you or a partner has the technical knowledge or background to appropriately sustain your business. In the same vein, refrain from outsourcing work and focus your efforts on finding apt talent who will help grow your company.

 

Start Small

When first establishing your business, don’t immediately file to become an LLC or C-Corp if you don’t have a product, customers, or revenue. This will cost you valuable money you might not have or can put to better use to grow your company, such as licensing and hiring quality talent.

 

Advertise

Once you have a finished product, don’t forget to advertise. Starting off, you may not have much money to put toward an advertising campaign, but you can always host your own website using free-to-use sites, or advertise on social media sites such as Facebook or Reddit. If possible, launch your product. While launching your product free-to-use may appear counterintuitive, it may earn you the publicity to begin catching the eyes of organizations or investors.

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