The way of doing business changes from time to time, and with the spread of the Internet, it was no different. Digital entrepreneurship is a form of entrepreneurship that uses virtual means, such as the Internet, to market services or products, without having to rely on physical spaces.
There are several ways to do this today, the most popular of which are marketplaces, e-commerce, apps, software, online courses, and sponsored content on websites and social media profiles. Here, there is also a file financial technology From financial services, such as nubank.
“For example, Fintechs are fundamentally changing banking business models through digital relationships with branchless clients,” Edson Barbero, Professor and Coordinator of the Center for Entrepreneurship at Fundação Escola de Comércio Álvares Penteado (FECAP), explains to G1.
With the changes brought about by the pandemic, most of the projects have had to adapt to the digital environment as well. Among the highlights, there are many examples of retailers with physical stores that have set up e-commerce to continue to meet customer demand.
Characteristics of digital projects
One of the main characteristics of digital businesses is their low initial investment, compared to physical businesses. Often times, the entrepreneur himself can design his product/service and create a website for free, as well as promote it on affiliate platforms.
Another advantage that this business model offers is that it is not necessary to create any kind of physical structure for the digital company to operate. Thus, it is possible to save money for investment in other areas of the project.
Challenges facing digital entrepreneurs
Despite the facilities, the virtual environment also presents many challenges. Many companies have realized that internet connectivity is essential to stay active in the market. For this reason, new business is launched every day, which makes the digital environment increasingly competitive and forces the entrepreneur to innovate to excel.
Another difference from physical to digital is that in the second, the consumer tends to be more critical. For example, before making a purchase or obtaining a service, the customer searches for references, compares prices and analyzes the competition in order to close the deal later.
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