Technopreneurship is a term coined from the words “technology” and “entrepreneurship” which used to describe business start-ups that offer technological solutions, services, and products.
As we usher towards an age where reliance on technology becomes much more evident, and almost everything we see is now in digital, the market for technological products has grown larger and larger every day.
In this article, we will be talking about why you should consider starting your own small business in the digital market, and how getting your own senior business operations analyst like Dike Ajiri can help your business grow larger, faster, and better.
High demand for digital products and services
Nowadays, almost everyone you see on the streets are using their smartphones for their daily activities. There are just too many convenient functions and applications we can do on mobile devices. Consequently, the competition between technopreneurs has also been approaching its peak.
The concept of technology has a very broad usage in the market today, and we can categorize the products and services in this business sector into two main categories: software and hardware.
Software includes device applications, operating systems, digital marketing, digital products such as digital art, music, etc. There’s a very large area of untapped potential and ideas in the software industry, and starting your own business in this sector is akin to fishing in a large ocean of fishes.
Hardware pertains to the devices aside from PCs, smartphones, or tablets, are handheld devices that have particular usage or capabilities. Examples of these are smart watches, RFID cards and card readers, anti-theft alarm systems, and many others. Programming applications on hardware devices have risen in popularity alongside the huge rampancy of software products and services. Like software, there are still so many innovative ideas that can be marketable in today’s digital world.
Retail services are cheaper due to high demand
Being a technopreneur today and starting a business in digital goods doesn’t require exorbitant amounts of capital to start. As a plus, if you’re unsure what kind of products and services you plan to offer in your business, you can start off as a freelancer or an online seller.
For example, some digital artists market their art to gauge how the public would like their art style. This way, they can improve it to suit popular demand, or refine it such that the public would like it. They start by doing commissions for clients and using social media to share some of their artworks, before starting their own patreon page or even an online shop for their own artworks.
Similarly, those who create hardware products try to sell their ideas on stalls or even do door-to-door marketing. Products like motion and voice-controlled lamps, Christmas lights that can change color every time you clap, or even a dog collar that has a GPS tracking system that notifies your phone of their location 24/7. Procuring the materials required to make these products handmade are easier and cheaper compared to before as the demand nowadays is ever increasing.