In general, everyone might create his/her own business as long as has a deep knowledge about that industry and business management, and enough economic resources that allows him/her to accept the risks of continuous inversion.

The secret is in the first decision: before creating a business, you have to define the type of business to implement so as you could build the organization you have in mind.

However, numbers speak for themselves and, unfortunately, in Spain the quantity of entrepreneurs is actually derisory compared to Anglo-Saxon countries (cultural awareness).

In fact, The Global Entrepreneurship Monitor (GEM) Global Report 2018/2019 shows that Spain is at #42 position in nascent entrepreneurship rate despite it is in #16 in the National Entrepreneurship Context Index (NECI).

Good news is that this fact may change anytime due to digital market and its faster associated transformation.

Strengths of an entrepreneur

Regarding the entrepreneur, it is important to highlight the main skills we find in entrepreneurs: leadership, vision, focus, action-oriented behavior, passion, optimism, self-confidence and problem-solving capacity.

However, we find the same characteristics in many others, so this skillset is not the only requirement for being an entrepreneur.

What is more, an entrepreneurial mindset is an attitude that accomplishes much more: being willing to learn, but also ready to make mistakes and overcome them; being a resilient and dedicated person, original, positive, with no fear of difficulty and failures; an individual with facility to stay driven about the purpose of his/her business, and able to measure her/his success with different yard stick.

The innovator must lead the change and be responsible for making it happens seeing that an entrepreneur is an innovator but not necessarily “a mad genius” and independently on the style he/she follows.

The mindset’s change

The entrepreneurial environment is made of innovative businesses that are providing a new value to the customers. But all this stuff should be organized and coordinated with discipline by entrepreneurs, like it happens in every type of business, so as not to lose the focus or waste personal and material resources, mainly if there are economic constraints.

So, creating a new business with a stat-up mind is not synonyms of chaos and disarray; It just means that there are important differences compared to traditional business. It is when those differences are not understood and appropriately addressed, the business might end in a disaster seeing that conventional operations models are not valid anymore in the “Instant market”, like it happens with sales and marketing techniques, too

Your target is essential

In the dynamic entrepreneurial ecosystem (made of new infrastructures and resources and a disruptive attitude), experience, personalization and privacy are becoming key for new customers: the prosumers, who are continuously generating opinion real-time as consumers in many platforms at the same time (spontaneous and instant communication).

Besides, analytics would be extremely useful for covering the sophisticated segmentation and remain well positioned in the market. Finally, to mention here that publicity is not tolerated by the new publics/audience anymore, so the channels need to be modified to be effective.

With that said, in the “Era of the Experience”, it seems not be enough just to sell a product or service, but it must be a personalized and seamless experience around that innovative and unique item; what is more, those characteristics should be shared with customers by means of different communications methods, new platforms and new protagonists and co-actors (bloggers, celebrities, keen Twitter Users, Snapchat Users, Instagrammers, etc.). And here is where the new entrepreneurial marketing (EM) will play its key role because in the entrepreneurial environment the focus is mainly in the social media usage and transmedia branding[1].

In short

Consequently, if the entrepreneur wants to expand his/her business, this innovation needs to be translated into a new conception of sales and marketing with creative and innovative techniques, i.e., Virtual Reality (VR).

Moreover, the entrepreneurial marketing is gathering information from every area of the new organization, mixing unorthodox and new marketing tools (some of them even born due to cost-saving needs of start-ups and emerging companies just looking for the growth), and reflects the real situation and circumstances around a company.

If this is not understood, the business will fail due to the lack of an appropriated sales and marketing strategy adapted to recent times.

[1] Tomé, Pau (Unknown publishing date) “El Nuevo Mundo: Transmedia Branding, más allá del Storytelling”. BeShared.

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