Humble Beginnings and the Future of Entrepreneurship
The beginnings of entrepreneurship were very humble. It is widely recognized that Marco Polo was the first ever entrepreneuer, opening the first paths to trading with Asia in the early 13th century. Today, we no longer are concerned with making this type of journey to be a successful entrepreneur. With the advent of modern technology, we are now able to successfully run a business from our home, from our garage or if desired, from the beach.
The future of entrepreneurship has also resulted in new and innovative methods of management. While in days past, entrepreneurs would nearly always have to hire people on a part-time or full time basis to assist with marketing, financing and other aspects of their business, today's entrepreneur can successfully manage their business with simply (and often) free tools via the Internet. When expertise is required, the entrepreneur can hire freelance providers that bring the needed expertise to the table.
As technology continues to advance, customer management tools provide new ways of handing client relationships in an entrepreneurship. The small business owner no longer needs banks of telephones when Skype is free and readily available. Video conference technology now allows for face-to-face contact with clients, freelancers and other experts. In 2010, the book Upstarts by Donna Fend interviewed several "Generation Y" college students. Surprisingly, these interviews show that the majority of this generation has aspirations of owning their own business versus working for existing companies. Some have gone as far to suggest this generation seeks the "4 hour work week."
Social media has exploded – as not only a means of communicating with friend and family, but also with potential customers, suppliers of services and as an entirely new means of branding a company. The more this type of media changes, the more likely we are to see a continued interest in entrepreneurship over working for a well established company.