Becoming A Digipreneur? Here’s A Beginner’s Guide
It’s absolutely right in the sense that all entrepreneurs are using digital technology to build, launch and grow their businesses. And why not? After all, India is now being touted increasingly as a destination for innovation and digital transformation.
Thanks to initiatives like ‘Startup India‘ and ‘Digital India‘, there’s tremendous positivity among entrepreneurs in India and as of today we have the 3rd largest number of startups globally. Japanese Telecom Soft Bank’s Founder and Chief Executive Masayoshi Son has even said, “India’s economy might surpass the US and China to become the world’s largest in the next three decades”.
3 big waves of digital innovation have swept India over the past decades: in 1980s we witnessed the software services boom, in late 1990s we saw the DotCom roar and the recent one has been the social, mobile, analytics and cloud explosion. So, if you’re planning to become a digipreneur, here’s your starter guide!
1. You have to talk a lot! Communication is key!
Communication is the number one skill you must master if you want to become an entrepreneur. You’ll have to explain your idea over and over again. Whether it’s to pitch to an investor, a potential co-founder or your customer, being able to communicate on a personal and professional level undoubtedly will save you a lot of time and stress.
2. Money matters! Finances
Mastering money and improving financial intelligence is essential to a healthy entrepreneurial life. Most businesses fall off the rails because they run out of money. Whether you’re a solopreneur, freelancer or run a large enterprise, one of the critical metrics you must focus on is cash flow.
3. Your face is everything! Branding
Think of Apple and Facebook and Steve Jobs and Mark Zuckerberg spring to mind. These companies are not only world-famous and influential, but they also had a strong brand influenced by the founders. Everyone has a brand, and everyone is a brand. The way you talk, the way you respond to emails, the way you introduce yourself, the way you write is your brand.
4. You have to sell, no matter who you are! Marketing
Marketing is one of the most important aspects of business growth. You can build the best product in the world, but if nobody knows about it, it’s worthless. Gain an in-depth understanding of the various digital marketing disciplines such as search engine optimization (SEO), social media marketing, pay-per-click (PPC), conversion optimization, content marketing and email marketing.
Your network is your net worth. From the beginning of humankind, evolution has favored people capable of forming strong social ties. Make sure you surround yourself with visionaries, executors and champions. It may look scary to cut off toxic people, but you’re either growing and moving forward, or you’re shrinking and going down.
Become an active listener and ask questions. Read an article? Send an email with your opinion, say thanks and start a conversation. Not all interactions will be fruitful but over time you will be making connections that matter.
Doing the same thing over and over again doesn’t make you productive. Doing the thing that can be done by software is a waste of time that will cause huge regret. If you can’t execute something using software, learn to delegate it.
7. How does it look?
The design is what differentiates good products from great products. Many companies overlook design and rush into the market to face an epic failure. The design is not only how it looks but how it functions.
Learn to analyze everything. No matter how great of a gut feeling you have to make data-based decisions. Just because you prefer something, doesn’t mean it’s the right thing.
NASSCOM forecasts that if the pace at which the industry is growing continues, then the country will be seen nursing more than 11,500 techs for every digital startup by the end of 2020. We are all born entrepreneurs. Essentially, it’s a set of skills, values, and the right mindset. So, you see where we’re headed to? It’s never too late to hop onto the bandwagon and create something revolutionary, isn’t it?