Entrepreneurship
Gone are the days when starting up your own business required a ton of money. The internet has made life easier for the new age entrepreneurs!

Gone are the days when starting up your own business or turning your ideas into a profitable venture required a ton of money. Today, we live in the age of internet, where access to anyone and anything across the globe is just a matter of seconds. Like everything else the internet has touched and transformed, entrepreneurship too is undergoing an evolution that will change things as we know them.

Having access to the internet has made starting, managing, and running a business far easier than ever before. It is not without reason that one witnesses a host of different start-ups springing up around them. In case you’re wondering how the internet is responsible for this proliferation in the number of entrepreneurs around you, here’s a peek into the ways the internet is helping them excel.

Low Investments

Set up a business online and you don’t need to acquire an office space or even employees, unless you wish to expand. There are a number of people running successful businesses single-handedly from the comfort of their homes. You don’t need brick and mortar spaces to showcase your products or provide our services to the customers as long as you can manage to do that online. So there is practically no rent or any other investments required except for the cost of setting up a website, promoting it, and keeping your stocks up to date!

The Market Prospects are Infinite

With the internet, an entrepreneur is not limited by geography to reach out to customers far and beyond the usual proximity. So if you set up a fashion jewelry outlet online from your home in San Diego, you’re not just limited to the market niches within San Diego and adjoining areas. You can explore new markets and sell to absolutely anyone across the globe regardless of where they are located! Of course you would have to work out the finer details of shipment and return policies in this case.

Lean Teams

Like we said, you don’t really require a team of professionals to run an online business. However, you may need one in case you wish to expand. A regional representative or even a couple of freelancers could be more than enough to help you run your business remotely from locations far away from yours! A number of online businesses employ virtual employees who help them with the smooth operations of their business – point is, since there are no physical offices as such, there is no need of hiring anyone other than the people you actually need.

Better Profitability

An online business doesn’t really have too much of operational costs. You don’t really have to pay any utility bills, there are seldom any storage or holding costs, you don’t really have to pay any transit or administrative costs either. So whatever you’re earning from your online business – the greater part of it at least – becomes your profit. Obviously, this may take a while to start up, but once the business gets going, it usually ends up earning good profits.

With the access to fast-paced internet, entrepreneurs around the world have the liberty to locate and operate even in the markets that lie far beyond the geographical proximity of their operations. It has literally brought the world in the palms of their hands.
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Education, Innovation

New research has confirmed that the old ways of teaching and learning will soon be chucked out the window because new ways of teaching students have been developed. A couple of decades ago there was no way for learning disabilities like ADHD and Dyslexia and kids that had these, were thought of as dumb or lazy. But now scientists and psychologists have also developed ways for these students to learn better and be at the same level as their peers. Thanks to technology, students can’t lag behind anymore and the old school ways are decreased.

Career centric

If technology is used correctly then kids and teens have better chances of choosing the career of their choices and some guidance counsellor who thinks going the run of the mill path is the sure fire way to go. By using smart phones, tablets and apps can make them sharper and see what interests them on a broader scale. No longer will they be dependent on what others decide for them when it comes to their careers. A lot of people who have taken the traditional path of education are often seen quitting their jobs and switching their careers or fields.

Boosts creativity and innovative skills

Technology definitely helps in boosting creativity in children. Watching videos on YouTube, graphic designing classes, using tools that create art, film, sound etc all help kids come up with something new every time. If you think about it, all the big innovators in technology were students when they developed life changing things. The owner of Dell (Michael Dell) was still in college when he created Dell computers, Zuckerberg was in College when he created Facebook and the list goes on.

Prepares them for the real world

Technology helps in kids develop critical thinking skills as opposed to just boring textbook learning in the classroom. Teachers are creating new syllabi that incorporate more use of technology like using iPads, iPods and laptops. High school students are becoming entrepreneurs and are encouraged to come up with solutions to real world problems like wars, carbon emissions, and economics.

Learning faster through visual aids

A picture is definitely worth a thousand words as proven by science now because it is concluded that humans are visual creatures and they remember things more clearly with the help of pictures and images. The brain processes facts faster if they are shown as opposed to heaps of written or printed text. So using videos in lessons and taking them to educational trips creates long term learning. This is not to say that we must completely remove books because things to be explained articulately will always be required in textual format; it’s simply to use visual aids more. This will help students who dyslexic or have ADHD will also not feel left out or attend special classes.
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Innovation
Read this post to find out how starting small does not mean you always have to stay small. Learn how innovation can help you accomplish things.

When it comes to taking risks, startups are at a distinctive advantage. It is easier for them to make decisions that may or may not work out in their favor since they do not have much at stake. From the workforce to the resources at hand, everything is already pretty small so incase, if their innovative decision does not do well for them, the aftermath can be easier to handle.

Big, established companies are more reluctant in letting the innovative spirit flourish because if it backfires they will have to suffer a much greater loss than a company that’s just beginning. However, having said that, there are still several established companies that encourage innovation. These are usually the kind of companies that started their own journey on the wings of innovation. If it were not for their willingness to initiate something new, they would not be there where they are today.

Everybody begins somewhere and for some that “somewhere” is usually “nothing.” If you look around you will find only a hundred or more different examples of companies that are business giants today but things were not always this rosy for them. What’s even more is how these companies never get comfortable; even after reaching a certain point they keep on striving for more.

And innovation is usually the middle name of that struggle.

To help demonstrate this point, let’s talk about it with the help of an example.

Nike: The Greek Goddess of Victory

Nike is a brand that needs no introduction. From their shoes to their accessories, clothes, their advertisements and everything else in between speaks for what the brand really is. It all began when founder Philip H. Knight came across a Japanese athletic shoemaker, Onitsuka Tiger, on his trip to Japan. He agreed to import his shoes to the US and there was no looking back.

From money to space, everything Philip Knight had was limited. He would often use his father’s basement to store the inventory. After working with Tiger for some years, Knight partnered with Bill Bowerman who was also his former track coach.

They decided to launch their own footwear under the name of Nike, which is actually the name of the Greek goddess of victory and there has been no looking back ever since. Other than delivering quality products to their audience, one of the main reasons why Nike is so ahead of their competitors is because of their innovative spirit.

Every now and then Nike launches a product in the market which makes use of never seen/heard before technology which leaves everyone baffled and impressed. A relatively recent example of this is their line of footwear with “flyknit technology”. When we hear the term athletic shoes, it’s obvious that they must help the athletes do what they do best, but who has ever heard of footwear that’s also environment friendly? Nike’s flyknit technology claims to produce 60% less waste as the other cut-and-sew methods.

According to a report, their flyknit technology has reduced up to 3.5 million pounds of waste material since 2012.

Talk about being innovative with a purpose!
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Business
In the process of developing business models, entrepreneurs provide a stimulus for spurring growth in the economy.

Entrepreneurs are termed as the pioneers of innovation. In the process of developing their business models, they provide a stimulus for spurring growth in the economy. They create job opportunities, provides more options to the consumers to choose from and improve the human capital by training employees.

Here are 5 ways in which entrepreneurs are creating the future.

By investing in the economy

Entrepreneurs are investors and not hoarders. They invest in the businesses they are most passionate about, and in the process they steer the economy in the direction of growth. Increased public and private investment is equivalent to more development.

By diversifying the options available

When entrepreneurs enter the market, they intensify competition in the niche they operate in. As a result, consumers have more options to choose from and, at the same time, they also benefit from the lowered prices due to increased competition.

By bringing technological changes

An entrepreneur enters market, in any niche, with an original idea. And in developing that idea they create comfortable lives for the consumers. It is also very important for the existing businesses to keep on innovating for staying competitive in the business. In their strife to stay ahead of the cut-throat competition they become pioneers of innovation and bring about technological advancements.

By creating new market segments

Entrepreneurs regularly seek for new ways to reach their target audience. If the niche they are operating in gets saturated with competition, they start looking for options of creating new market segments. In the process of creating new market segments they create a lot of income generation opportunities, which ultimate has the positive impact on the economy.

By being socially responsible

Social entrepreneurship is one the rise. Entrepreneurs, in today’s tine and era, not only strive to create business models that will bring them financial revenues but also challenge social issues. They take responsibility to restructure the flawed system in the areas they are most passionate about. Khan Academy, Grameen Bank, Acumen Funds, Green construction etc. are some of the examples of such projects that are dedicated to fill the gaps in their relevant sectors.

In the processes of attaining financial security for themselves and developing their businesses, entrepreneurs affect various tiers of the social and economic structure. They bring new innovations, create new market segments, diversify and magnify their products reach by promoting international trade and make efforts to correct the flaws in the existing structure. Considering the important role, entrepreneurs are playing in strengthening the economy; it won’t be incorrect to say that entrepreneurs are indeed creating the future.
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Education, Entrepreneurship
Thinking of becoming an entrepreneur? You definitely can go far ahead with an MBA degree than without it.

So you are about to get an MBA degree as the next feather in your cap. How do you go forward from here onwards? Do you want to work for someone or establish your business? We’ll suggest you to take the latter option, and trust us, your MBA will help you a lot.

Here is how an MBA degree can benefit you if you want to establish your own business.

MBA students understand business management theory

When you are done with your MBA degree, you will have a deeper and well founded understanding of management principles: the fundamental concepts, business planning methodologies and what creates the difference between winning and losing.

You’ll learn all of these things and more in great detail, and then apply them when you run your own company.

MBA Students gain operational knowledge

How do you manage your business? There are so many ways, and your MBA degree will teach you all of this. You’ll come to know of the pros and cons of each method, and accordingly, can decide the best one for your particular situation. Plus, you will be solving several case studies which will help you gain an insight into how the best of business leaders think. You can then replicate their strategies and use them for the good of your own company.

MBA students make several contacts

Enrolling as an MBA student exposes you to so many people, with whom you can make contacts for a lifetime. Every person in your classroom today will be a business leader or an industry expert tomorrow. In the time to come, each of you can cash onto each other strengths and steer your way through difficult situations together. So reach out to everyone around, strike conversions with them and make as many connections as you can. Who knows they might be your business partners or clients down the road.

MBA students grow at a global level

An MBA program gives you access to all the tools and guidance that you require to take growth of your company to a global level. Expanding internationally is of utmost importance in today’s market, especially if your industry is nearing saturation or is already saturated.

MBA students gain access to a talent pool

Running a business also means building your team sooner or later. And when you take this step, you will need access to a talented pool of candidates. With your MBA degree, you learn skills that help you judge good candidates and use your resources optimally.

MBA students develop proper business plans

Looking around for investment for your business? Yes, many people will be interested in funding but only if you make them realize that your business is worth the amount of money they want to put in. For this, you need a proper business plan, and your MBA degree will help you with it. Thus, you will be able to draft a plan that convinces the investors and help you get the funding that you want.
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Business

Women form about 58% of the workforce in the USA. This percentage speaks volumes in itself because there was a time when they were limited to just cooking , cleaning, raising babies and at most being a secretary in a male dominated office. Women have changed the business world in many ways; form the creator of Spanx to the mogul of the Huffington post. Ladies have, are and will be part of evolution of the business world. If you want to be like them someday then here is how you get started and be back on track:

Get a self assessment

This is the first step to you starting your career again. You need to assess yourself and ask yourself some questions like:

  • Why do I need to start working?
  • Will I be able to handle and balance the work life and motherhood?
  • Will I feel fulfilled by working or am I doing so because the society makes me feel guilty be being a stay at home mom?
  • Do I need to make more money?
  • Will starting work find my purpose?

Many women, after having kids, experience a shift in their life’s priorities and don’t feel the need to go back to their stressful corporate lifestyles. Sure changing nappies and soothing a crying baby in the middle of the night is stressful but it is quite rewarding at the same time as well.

If you can answer these questions and they point out to you desiring to work then by all means get started because the longer you have a gap the less likely you will end up working again.

Explore your passions

You should start exploring areas of your interest that you can work and be successful in. If the boring office type of job doesn’t go with your liking then pick up a career that can be fulfilling and profitable at the same time. There are many options out there such as tutoring, arts and crafts that you can sell, blogging or pr9oject bases assignments etc. You can be your own boss because you no longer would have a boss hounding you or pushing for deadlines. There will be more room to grow. Brainstorm ideas for your business because who knows that can revolutionize an industry in the future?

Update your resume and skills

If you are a new mother and have recently left your office life, then most likely all of your Office skills are up to date, but if it has been more than few years then it’s time to brush up on MS Office, PowerPoint and Excel and try working in their newer versions. This will help you a great deal in working efficiently. Also, if you have done any volunteer work or online work then make sure to add that to your resume as well.

If you have done the above 3 things then you are all set to start working from home and join the thousands of stay at home moms in changing the work dynamics.

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