In recent years, the global economic and social environment has continuously changed. Technological developments happen rapidly, creating evolution and disruption across the entire economy. Political developments are disrupting the international balance, causing chain reactions in the economic and trade world. New economies are emerging while other previously strong economies appear to be collapsing.
The business world is again affected and is turning its attention to reducing production costs, developing new markets in Asian countries and producing different types of materials, as the human workforce in companies decreased at the same time as demand for products in these countries decreased. Large companies are observed to close or move production to other states with more favorable tax conditions and lower operating costs without a pay stub maker.
Small and medium enterprises, crafts and retail stores, struggle to keep their production capacity, their employees and meet the costs of the business. They try to keep their customers, increase their profitability and reduce their operating costs. But how? How in such an unstable environment will the new entrepreneur be able to find “Stability” and maintain the homeostasis of his business?
The answer, which always comes through global experience in the field of business and which finds application, is with “Entrepreneurship”, “Innovation”, “Extroversion” and “Modern Education”.
We could add many more “keywords” for effective crisis management and success such as, “Insight”, “Creativity”, “Observation”, “Fresh Ideas”, “Strategy”, “Flexibility”, but all these skills simply complement the 4 basic “Pillars” of the business development of a future “Entrepreneur”.
With a strong ‘package’ of skills in their portfolio, young entrepreneurs are sure to have laid the foundation for a successful venture! The business space has always made use of the above tools. Young people with talent and dreams, trying to discover the path of their own success. In this quest, young entrepreneurs should always remember that success in the modern era does not come quickly or by chance but requires along with enthusiasm and effort now also strong foundations.
So let’s analyze the 4 “Pillars” of an “Entrepreneur”.
Innovation
We have heard this saying many times: “crisis creates opportunity”. Is that right? Under what circumstances?
Innovation within a company, such as a future fashion designer, can have many aspects, such as the use of smart materials, collaboration with companies of all sizes and Similar cultural activities as well as many other activities that were recorded as active for a 3 year business plan.
At the same time, innovation would be the introduction of a new service, an improved production method, the creation of a new market or the use of an improved sales organization. All of the above, such as innovation in the use of materials, creating new products and services as well as developing partnerships, need to be realized, know-how, modern education and Organizational preparation is in principle necessary, entrepreneurship is a prerequisite from the beginning.
In general, small, medium and new companies use rather simple business models and are not ready to face innovative developments for international markets. Of course, we see this getting better over time as more and more companies turn to business consultants to find solutions to the problems they face, such as liquidity, growth Revenue and profit growth, improved market share, increased revenue, better positioning, anti-competition, cost reduction and many other issues.
Furthermore, so-called “accelerators” and “incubators” have largely contributed to the development of innovation and entrepreneurship, encouraging the birth of innovative ideas in companies and startups, new business, thereby leading to common development of our country’s economy.
Extroversion
Extroversion and Innovation are the new constants of entrepreneurship of the future, in contrast to the old consumption model. The resurrection of entrepreneurship requires a new Business Model, in all professions and at all levels. The production of tradable items for foreign markets is the new target.
It is therefore a goal for the new Entrepreneur to fully understand the concept of “Extroversion” and to apply it based on a Business Plan from the beginning in his business. The concept of a brick-and-mortar retail store is one dimension of business, the other is e-commerce. More and more new or well-known entrepreneurs create websites and sell their products online, while at the same time more and more consumers resort to the market through an online store. The market is very big and through technology it is getting even bigger. Why limit yourself only to your neighborhood?
Entrepreneurship
The concept of entrepreneurship and the term entrepreneur are currently the most “stirring” words in the modern era.
We all think we know what we’re talking about, many of us are involved in the subject, some of us actually “do the business”, but very few can and really know deeply, substantively and realistically about the subject “Business” or other subject. “Start a business” through running your own business.
Until a few years ago and before the crisis began, anyone who had an idea and wanted to sell a product quickly calculated the costs, potential income and finally started a business. Today no one works this way, because the crisis leaves no room for errors and corrections due to the inexperience of the new serial entrepreneur, without consequences that can be resolved simply and quickly, like a bank did before.
According to Harvard Business School, entrepreneurship is a process of creating or formulating an idea and exploiting it. Of course, entrepreneurship includes other activities such as establishing, managing and managing a business or organization. On the other hand, P. Drucker believes that entrepreneurship is simply an activity in which knowledge is a means to achieve a goal.
Modern Education
The choice of studies that gives value to the ideas and dreams of each young entrepreneur is a purely personal matter. Modern Education, however, must have specific specifications depending on the goals that each one sets, the way he wishes to operate, the immediacy of professional rehabilitation and the support provided by the educational organization itself to the new entrepreneur in his first steps in the market work.
Training to be effective for a professional over time and to be “Modern”, must provide the new entrepreneur before entering the market with his own store or before launching his own product, the appropriate knowledge that meets the needs of the modern global market.
Through this training, the Entrepreneur must possess such characteristics that he is sought after and distinguished everywhere, either as an executive of a company or as an Entrepreneur, i.e. the owner of his own business, however small or large it may be.
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