Strategies for Starting a Business in the Digital Age

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Strategies for Starting a Business in the Digital Age

The imbalance in the availability of employment with the number of workers in Indonesia, requires everyone to step out of their comfort zone and start looking at entrepreneurship. Because entrepreneurship will allow jobs to continue to grow and develop along with innovation in various fields of life.

However, the obstacle is the limited knowledge, experience, skills, and motivation of the Indonesian people to make it happen, especially since the competition is getting tougher in the digital era. In the present, the development of technology is a necessity that can no longer be separated from life.

So that the younger generation is required to be able to maximize the use of technology in doing business or business in order to reduce the unemployment rate in Indonesia. Therefore, it is necessary to know what strategies are needed in building a business in today's digital era, so that you are not less competitive in life in sophisticated times.

Entrepreneurship is a business activity in the form of an independent business. Where each resource and activity is charged to the business actor himself. Entrepreneurs are engaged in the field of creating new products, determining the way of production that is fast and without neglecting quality, structuring a business operation, marketing products to potential consumers, and managing business capital.

In today's digital era, many entrepreneurs use information technology as the main means of doing business. With the increasingly tight level of competition in the business world, the use of information technology is an important need to support the growth and continuity of the business being managed.

With all the convenience offered by technology, a business can attract customers all over the world quickly, without knowing the limitations of time and place. This is the reason why the younger generation is encouraged to even get to know more closely about the world of digital entrepreneurship, namely entrepreneurship that is influenced and utilizes the existence of technology.

Digital Entreprenurship is one of the images that describes entrepreneurship that will be transformed with technology towards a digital world. Starting from how to design new products, produce, market to potential buyers, service to consumers, financial management, collaborate with partners, and last but not least, analyze opportunities, strategies, risks, target markets and so on that hinder the business.

There are many advantages and advantages of entrepreneurship in the digital era such as being easy to promote your service products, reaching a wider market and creating many opportunities to collaborate. In this digital age era, there are many opportunities and opportunities for Digital Entrepreneurship.

In today's digital era, intention and capital alone are not enough to build or develop a business or business. Mature strategies are needed in starting a business so that the business being run is able to compete in the digital era like today.

However, like a coin that has two sides, in addition to the conveniences caused by the development of digital technology, there are also various challenges in building a business or business. The ease of entrepreneurship causes business competition to be fiercer. A society that tends to change, whether in terms of tastes, wants or needs, requires entrepreneurs to continue to rack their brains to be more innovative in creating new products.

Discussion

Entrepreneurship is basically a discipline that studies a person's values, abilities, and behaviors in facing life's challenges to obtain opportunities with various risks that may be faced. The spirit of entrepreneurship will encourage someone's interest in establishing and managing a business professionally.

In this digital era, of course, there are many opportunities besides that there are also many business challenges. Freedom and speed of information is one of the factors. Opportunities are good news for entrepreneurs. However, whether it will be a commercial challenge is another matter. If so, the business owner must have a strategy to deal with it. However, before looking for a strategy, you must first know what business challenges must be faced in this digital era.

Digital Transformation

Digital transformation that is advancing and growing every day has many benefits for the development of today's business world. Thanks to the presence of technology, it can save time, effort and costs and produce maximum results. However, this transformation can be a significant challenge at a time when the business being pursued cannot keep up.

Moreover, when there is a feeling of fear to change old habits will cause concern when the transformation carried out does not match what was expected or fails. You should approach it with high optimism and never give up. Companies must be able to adapt to technologies that are constantly growing and developing. Marketers must constantly learn and learn. Indeed, it seems that it will take time and energy, but if successful, it will greatly facilitate the course of business.

Speed

Just as technology demands business owners to adapt, today's society demands fast and practical products and services. And when an entrepreneur fails to fulfill those desires, as a result consumers slowly leave you. Business owners can overcome this by collaborating with current technology.  Companies with technology can move faster because they follow market trends. One of the uses of such technologies is automation in enterprise resource management. For example, the use of cloud-based applications for employee management, financial applications and also archiving.

Human Resources

Technology that has been adopted in business, but there is still some homework to be done, such as creating human resources to work for your business is also adaptive to the technology. Do not incur large costs just for technological updates, but not optimally, because the associated people do not have the ability to use them. A business that wants to run professionally and is always experiencing growth needs to recruit human resources who have sufficient abilities.

In addition, business owners should provide additional training or training and gradually upgrade their knowledge to adapt to the development of science and technology.

An ever-changing society

In addition to hoping for something fast and practical, the challenge of today's society is that they are constantly changing, both in terms of tastes, wants and needs. Today's society is easily bored and has quite complex desires. They are also smarter about which products are suitable for them and which are not. This is a challenge because it requires business owners to use their brains more often and innovate products and services. Entrepreneurs also have to think from beginning to end to come up with something unique and unusual. However, this challenge may come in handy in the future. The efforts of business owners to continuously innovate improve knowledge about the market and products. And of course it can provide the greatest benefit in the future.

Competition Is Getting Tougher

Again technology has an influence in this regard. Advanced technology can integrate business channels so that it can be implemented without space and time constraints. In fact, the company can cooperate with other companies anywhere in the world. And of course the company also accepts competitors from various other companies from all over the world. If this is not accompanied by continuous innovation, then the business will lag behind the competition. In addition, another challenge that is often faced when dealing with competitors is healthy competition. Because basically the implementation is very important. If you can compete in a healthy manner, a good business atmosphere is created.

According to Thomas W. Zimmerer et al. in business and entrepreneurship requires a nine-step strategic planning process:

  1. Develop a clear vision and turn it into a meaningful task. Successful entrepreneurs can tell others about their mission.
  2. Evaluation of the company's strengths and weaknesses. Strength is a positive internal factor; weakness is a negative internal factor.
  3. Observe the surrounding environment to identify opportunities and threats facing the company.
  4. Find out the most important success factor of the company. The key success factor is the relationship between controllable variables and important factors that affect a company's ability to compete in the market.
  5. Analyze competition. The owner's knowledge of competing companies should be as deep as his knowledge of his own company.
  6. Set the goals and objectives of the company. Goals are characteristics that the company wants to achieve and are general and long-term. Goals are measurable, achievable, reasonable, timely, and written.
  7. Formulate strategic choices and choose the right strategy. Strategy is a game plan by which the company wants to achieve its goals and objectives. It should focus on the key factors identified earlier.
  8. Turn a strategic plan into an operational plan. Strategic planning is incomplete unless the owner takes action.
  9. Specify the appropriate controls.

Conclusion

The future of the nation rests on the shoulders of the younger generation. It is not easy to give birth to young entrepreneurs who can become pioneers of change. In addition to technology skills, access to capital or creativity, it also requires a mindset, attitude and behavior that can demonstrate a commitment to being a resilient and resilient entrepreneur, due to the many challenges that will be faced in the future. . A successful entrepreneur must be dedicated, creative in business development, careful planning, hard and long-term work, a strong desire to achieve goals, flexible and confident. In addition, the seeds of digital entrepreneurship of the younger generation must be able to develop a positive mindset, learn to understand environmental conditions, network, and be eager to rise up when experiencing failure.

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