We live in an ever-changing society, one that is evolving at an unprecedented rate due to the influence and development of technology. This progression has impacted every sphere of life, from the home, to how we conduct social interactions, to the way that businesses function and strive toward success. Below are a few primary ways in which the architecture of entrepreneurship has changed in response to technology:
The presence of technology and mobile devices is expediting communication like never before. This improved communication, in turn, expedites everything surrounding it and allows processes and conclusions to occur quicker. It also has the potential to connect people across the globe in a face-to-face connection via Skype, Facetime, or other apps of the sort. It produces an element of immediacy that can be beneficial at so many stages of a business model or entrepreneurial endeavor.
Easier and Cheaper Advertising
With the advances that the internet has made, it has become much easier and cheaper to advertise on a small scale. Previously, advertising would have had to be through magazines, newspapers, billboards, or other tangible formats. Now, it is so simple to create a Facebook account for a business and work from there to advertise.
The internet and mobile technology have largely changed the landscape of how information is stored, circulated, and shared. Information that previously may have been limited to exclusive groups or geographic borders, is now readily available on the internet with minimal effort. This evens the playing field by making it much easier to learn certain trades via YouTube videos, online guides, online tutorials, and other means.
All in all, it is exhilarating to imagine what kind of impact continually advancing technology will have on the world of business and entrepreneurship, and how this will open up new markets and advancements in current markets.