2017 Scholarship – First Place Essay
“Entrepreneurs and Online Businesses – the perfect match!”
By Kaylan S.
The internet has been a great breakthrough over the last 25 years. It has allowed people with creative, innovative and powerful ideas to turn them into action. Because there is such a large reach and very low cost of entry, the web allows a great backdrop for entrepreneurs to launch their ideas. The attributes of great entrepreneurs and why the web is a great backdrop to launch ideas will be discussed below.
What are the attributes of great entrepreneurs?
In my opinion, great entrepreneurs have a creative mind, have a passion to see an idea come to life and most know how to persevere. They also do not stop when many outsiders may be telling them “it won’t work”. If they truly believe in their idea, have a passion for it, they will ignore the noise and keep pressing on with their idea. I also feel that they know how to course-correct. As they gain experience and their idea comes to life, they know how to process the current facts and adjust the idea to make it even better.
Entrepreneurs also, do not like to work in “traditional” work environments. This may mean long hours of exploration, many hours analyzing/thinking, and most likely not traditional work hours. They also surround themselves with experts that have complementary knowledge to their skills and can make their idea or invention “come to life”. They are extremely hard workers, driven, and have a steadfast belief in their idea. Sometimes even to their dismay, as many great ideas never turn into profitable ventures.
One last point on entrepreneurs is that they shun traditional thinking and can envision their idea in the end state. This end state often involves solving a problem or filling a need in society. I believe many times it’s this drive and passion of being able to see this vision as a “real” that keeps them working through adversity and roadblocks.
How does the internet offer the perfect backdrop to develop a business idea?
Since its launch, the internet has provided many business opportunities for entrepreneurs. It allows otherwise ordinary people to launch an idea quickly and be seen by many individuals in a short amount of time. An idea launched through the internet requires very little start-up costs. Whether selling a product or a service the internet allows the entrepreneur to advertise through a dynamic and fancy website. The customer can learn about all the products and features and do it on their own time. With one or two clicks, the customer can order and have the product delivered right to their door. What once would require the printing of expensive magazines and newspapers to advertise, many individuals processing orders, and sloppy and unsafe payment methods, have now been streamlined and made very efficient by the web. Other efficiencies and technology advancements such as safe credit card methods and website security have also developed and made customers feel safe and secure with ordering through the internet.
The internet has also cut down on inventory, which costs companies money. Shipping methods have developed and many times when a product is ordered it can be delivered the next day. All of this has benefited the entrepreneur by not having dollars wrapped up in storefronts, inventory, and salespeople. However, it has also benefited the customers as they can shop, research products, and order safely and securely from their own living room. Starts up costs have been greatly reduced. What used to be securing money from banks and financial institutions is now reduced or eliminated because storefronts are outdated. This all has resulted in entrepreneurs turning a profit more quickly.
Another benefit of the internet being a great backdrop for a business idea is that it allows the entrepreneur to be very nimble. Ideas can launch, close, and re-launch easily. One may be more willing to try ideas that fail because of the ease of entry.
A further benefit is marketing. The world is your client. The internet is prevalent around the world. Many have now eliminated their desktop computer and access the web from their mobile device. This allows many more eyes on your product and service at more times during the day. Where once an entrepreneur was limited to set hours and customers of one town or village the world is now the customer 24 hours a day.
How have the internet and entrepreneurs affected my career interests?
This essay was especially appealing to me. Individuals that have the courage and the creativity to take an idea and make it really have always fascinated me. I have a great interest in the fashion world. I hope to someday create my own clothing line that would only be available from my websites. Even when I was young, I would create paper dolls and make their clothing unique. I would pretend to sell their fashions and continue to be creative with more designs. I hope to turn this passion into my own design brand and I feel that the internet has made all of this possible for a teenager like me with drive, creativity, and a dream.
Thank you for your consideration for this scholarship grant to help me realize my dream.