Woman checking her cell phone taking advantage of the benefits of having a digital business
One of the most popular trends in entrepreneurship today is digital entrepreneurship. Nowadays, many people choose to open an online business rather than a physical or in-person one.
But how can you succeed in today's highly competitive digital age? Here at IZA we'll tell you.
What is digital entrepreneurship?
Explaining what digital entrepreneurship is is very simple. Basically, it is a company that uses the internet and digital technologies to make its business model work. That is, it sells physical or digital products, or provides digital services using the internet.
The main difference between starting a brick-and-mortar business and an online business is that the latter does not require a permanent physical location. By using the internet to operate, you can operate from anywhere in the world as long as you have an internet connection.
Woman starting her digital business on laptop
Why should you have a digital business?
According to experts, entrepreneurs and business gurus, starting a business digitally offers benefits such as:
Flexibility: You can adapt list of telegram users in japan your digital business to any location, because as long as you have Wi-Fi, you can operate your business.
Agility: By starting your digital business, you will gain the agility to make decisions and change the direction of the company quickly without falling into rigid structures.
Culture of innovation: Thanks to the fact that they are directly immersed in the Internet, it is much easier for innovation to permeate the company, helping it to remain current and competitive in the market.
Constant evolution : A digital enterprise is capable of evolving at the same pace as technology, which makes its capacity for adaptation very high.
Costs: As if that were not enough, in the digital age, the cost of starting a business on the web is much lower, for example, by choosing virtual offices or not having to invest in a physical branch.
Tips for starting your online business
If you are thinking about opening a digital business, take these tips into account:
Make sure your product or service is in demand
A common mistake when starting a business is to think that your product or service is so good that it will automatically be in demand. Taking this position, far from making you successful, can lead you to bankruptcy by not having a market large enough to sustain your sales.
Before launching your digital venture, you can start with a little research or market study. This way you can make sure there is a need to solve with your product or service.
Get financing
Every online and physical business requires money to start operating, this is known as financing. In today's digital age, there are endless options to obtain financing for your company.
You can start with the famous 3Fs (Friends, Family and Fools): Friends, Family and Fools. You can also use your savings or contributions from partners to start a business or access sources such as banks, credits, financial institutions, Fintech, pre-sales and even Crowdfunding platforms, for example.
Register your business
A common mistake when you decide to start a business is not registering your business with the authorities. There are several procedures that we have to do, such as registering with the SAT to pay taxes.
It is also important to register your trademark with the IMPI to protect its intellectual property. In addition, you should register on all platforms and obtain the required permits to operate. For example, doctors need a permit from COFEPRIS to advertise on social media.
Decide on the branding of your business
In the digital age, starting a business is so easy that online businesses abound. That's why it's so important to distinguish yourself as a brand. This includes having a name, logo, colors, and an appropriate corporate identity.
To ensure this works, we recommend that the name has an origin in the history and values you want to convey to your market. Afterwards, you can build the entire identity. However, don't try to start without having the branding ready, because without it, you won't be able to stand out from the rest.