Every entrepreneur is a digital entrepreneur. This was mentioned in an article publishes by Accenture in 2014. It went on to say, that they(Entrepreneur) , focus on business models that rely heavily on using digital platforms that enable consumers and business to actively share and exchange assets, products and services for mutual benefit. In a fast-paced world today, survival of a business essentially depends on how far it is digital aligned. In economics, such as Sri Lanka where traditional businesses largely dominate the economy, emerging businesses are now changing their survival by effectively employing digital technologies in their business process.
The world conventionally believed in a system of standardized products and lowest costs. However, digital technology today are helping organizations adapt their products to achieve lower costs. This phenomenon has enabled digital entrepreneurs has enabled digital entrepreneurs to grow quickly , while sustaining themselves in similarly empowered entrepreneurs in the service industry , but on a much larger scale.
Traditional pipeline business did not tolerate large -scale entrepreneurships while they followed learner value -chain systems. Limitations such as capital and access to know-how to entrepreneurship . Today’s digital platforms have made business such as airbnb, Alibaba and Uber to disrupt organized businesses while not following traditional business models and now a proving ground that is giving birth to a growing number of digital entrepreneurs.
Start-up eco systems are globalizing fast, making it easy for many to become digital entrepreneurs. Some of them runs entire business and to end digitally while others become entrepreneurs by performing within a certain function or domain. There is plenty of space for almost everybody in this realm. School-going -kids and university student alike are now increasingly able to join the race to become entrepreneurs able to join the race to become entrepreneurs as they are encouraged by many of today’s digital platform’s business stories.
Just as an opportunity there are also a number of challenges met by digital entrepreneurs that first need resolving to achieve their success. Among these challenges, some prominent ones would be intellectual property, skills, technological infrastructure, access to finance and sluggishly adapting legal frameworks.
However, the good news is knowledge and support is really available foe the digital entrepreneur who is willing to seek answers and ask for help.