Sunday, December 18, 2011

Generation Y is Born to Start up

Read this great article!

The constant growth of technological capabilities have equipped all of us with the ability to create start-ups at much lower costs.

We are at a new age of how we communicate, make our purchases and socialize. Thus, put away the old assumptions and carefully consider how technology and the change in life-style can be fully leveraged to optimize your businesses, and also have the foresight to consider how all these assumptions will again change in 1-2 years time.

If you are an entrepreneur, stop looking at targeted consumer markets just within the boundaries of your own country or town. From the very first day of your start-up, constantly seek to build your business with the vision/direction to expand your businesses beyond national boundaries. The old costs assumptions and risks of globalized businesses are becoming less of a limitation, due to our aligning sub-cultures, various online sales and marketing platforms, and communication tools that provides us the opportunity to build much more versatile business models.

In addition, rapid evolution of technological innovations, have increasingly made me realize that although developing strategic plans and financial projections does help entrepreneurs look at the directions the start-up should take in the long-run, such plans and projections are increasingly irrelevant if they are to be used to predict what the company will become in 3-5years times. Particularly since the assumptions used to make such plans are constantly changing, and whats worst is the increasing rate of such changes.

Hence, the reason why Steve Jobs and many other innovators have been experiencing greater successes in these times. It is due to their drive and courage to innovate and develop new products that appeals to constantly changing consumer needs, that allows them to be that many steps ahead of their competitors.

Conclusively, it is critically important for entrepreneurs and business leaders of all generations, to pay close attention to how current technologies may be exploited to enable a competitive edge over your competitors, and have the drive and foresight to understand the rapid and ever-changing business environment, resultant from shifts in technological innovations.