Why you should feel lucky to be the present-day entrepreneur

A horde of people rushed to the new café in town. Some liked it, some complained that they waited too long for coffee. Others called in before driving down but were held off with a waiting list number. A few stumbled in while shopping or on their way back from the office. They got home and spread the word, pushing more towards the venue over the next few days to check out what the fuzz was all about. 

The fuzz, which we now call #trending was earlier word of mouth!

The reviews, the location, the contact numbers were shared word-of-mouth or through yellow pages. News was never instant, and bookings were limited. 

How, then, did innovation happen? 

Even in seemingly ordinary everyday life, the human brain can’t be stopped from fashioning new ideas and looking for solutions. Talk about the washing machine, the electric vehicles coming onto the market now and the ever – evolving eco-friendly utensils. 

Prior to the internet, one would simply read all the relevant books at the library on a given subject, flip through the newspaper to absorb the daily happenings, network with college professors and experts. When it comes to finances, they either borrowed to do business or got scholarships for further education. 

The advent of Artificial Intelligence (AI) has enabled businesses to outsource routine tasks like data entry and answer queries at call centres to computers. Besides, predictive analysis has transformed sales and market projections, saving human brains from onerous number-crunching. With real-time and accurate information, managers of today can make crucial business decisions in time. 

Technological advancement has powered machines to offer services like speech-recognition, virtual agents (which work as virtual assistants), machine learning (analysis) and robotic process automation (where a software application interprets, communicates, and analyses data to perform automated, repetitive, and rule-based manual tasks).

Peer-to-peer networks help connect multiple servers; the examples of their use being Cryptocurrency, NFTs and block chain. 

No doubt today’s startup dreams are turbocharged by technology, enabling smart entrepreneurs to impact the world positively. The world might be turning virtual, word-of-mouth and work ethics would still drive the workplace. This, of course, won’t be trending!