Are you fed up of your boring 9-5 job, imagine living the freedom lifestyle (Be your own boss), where you have freedom of money, time and mobility.
Read out the complete post to understand how you can create the freedom lifestyle or yourself.
In today’s world, if you want to live the freedom lifestyle you need to a be a digital entrepreneur or a digital nomad.
The fact is most of the modern-day entrepreneurs are digital entrepreneurs or internet entrepreneurs because they have understood the online business and how they can rapidly scale the business with their online presence.
Now many questions must be gushing through your mind that what is a digital entrepreneur, what does a digital entrepreneur do and much more similar type of questions. Don’t worry at the end of the article you will get the answer to all of your questions.
What does digital entrepreneur mean?
A digital entrepreneur is someone who has identified a pain point present in the market which most of the people are struggling with and found a solution to the problem.
The solution should be 100% digital and it should add value to people’s lives.
3 best examples of digital entrepreneurs in the world
Jeff Bezos is a digital entrepreneur because he has created a digital product Amazon that has solved a problem faced by millions of people.
If someone doesn’t have time to go out and buy the stuff they want physically, no problem Amazon gives you the opportunity through which you can order an item with just a few clicks.
Now there is no need for you to go out of your home to buy stuff, a few clicks and TA-DA, home delivery will be done.
Jeff Bezos has added value to the lives of millions of people and no wonder he is the richest man in the world right now.
Bill Gates also solved the problem faced by millions of people, they now don’t have to code for every damn thing.
His digital product Microsoft brought has created a user interface Windows through which people can easily navigate and do their jobs.
Now people can easily complete their jobs and this one product from Bill Gates has added value to the lives of millions of people.
The revolutionary idea of 4 friends which connected people from 2 different corners of the world “Facebook”.
Earlier people couldn’t connect online with people and chat with them. Facebook just eliminated the problem, now you can chat and talk to anyone in the world.
No matter where the person, the barrier of distance between 2 people just got eliminated by the arrival of Facebook.
I hope this concept of digital entrepreneurship just blew your mind.
The reason they all the above 3 examples could connect to millions of people is just that, they have brought their business on the internet, and they could leverage the power of the internet and get a global presence.
Digital entrepreneurs make sure that they add value to people’s lives.
Entrepreneurship is all about solving a problem and the by-product of solving that problem is getting freedom.
How to become a digital entrepreneur
Remember assets from the book Rich Dad Poor Dad, the things or systems which bring money to your pocket like your stocks, debentures, startups, real estate, etc.
Digital assets are the assets which are present digitally and generate revenue for you which can be scaled globally through the presence of the internet.
For example your app, your social media channels like YouTube, Instagram, Facebook, LinkedIn, Pinterest or your blog, your E-book or your own digital product or some other product.
All the above digital assets are present online and the best thing is that they don’t require heavy investments, still, they can generate returns like anything. (Trust me, I have seen people earning 100x money they invested initially)
For example, if you plan to rent a flat, you need to buy a flat which will cost you a heavy amount of investment, same goes with stocks if you want to get high dividends or returns you need high capital but that is not true with digital assets.
The best thing about a digital asset is that they don’t have an inventory problem.
- Amazon has no inventory
- Uber has no cars of itself
- Oyo Rooms doesn’t own a hotel
The digital entrepreneur who is running the show is sitting at his home chilling with his family, doing his stuff while his digital assets create income for him.
Digital assets require a minimum investment but the scalability level is super crazy and you can connect to a huge amount of people due to the presence of the internet.
You can easily become a digital entrepreneur or a digipreneur, by identifying a pain point, create digital assets and then sell your product or someone else’s product.
The last decade has created more billionaires than the combined billionaires in a century, you know why just because of the presence of the internet.
There have been courses available on the internet which specifically teaches you digital entrepreneurship and the people who have created the courses are earning hell lot of money.
Challenges and skillsets of a digital entrepreneur
So we have talked about digital entrepreneurs, digital assets and how it can change the lives of millions of people by adding value.
Now let us discuss something which is not visible to the common public. The challenges faced by a digital entrepreneur in his life and also digital entrepreneurial skills which are required to excel in this business. Because
People buy results and not the efforts
There are lot of challenges involved in the life of a digital entrepreneur. I can talk about it so bluntly because I am walking the talk, I am a digital entrepreneur myself and know how things go on this journey.
I also have been in contact with 4 digital entrepreneurs, I have interviewed them and all of them are nailing it compared to the age they are.
They all had their pieces of struggles and hard work and have shared definite insights on what it needs to be a true entrepreneur.
To talk about an effective public speaker: Inspirominds Vinay Kumar
One of the youngest digital entrepreneur of India: Rohit Kashyap – CEO (Maytree School of Entrepreneurship)
A concept artist and a brand strategist: Krishna Rathi
An author and a digital coach: Author Dipanshu Rawal
You keep on doing stuff that you know will add value to people’s lives, but there are some instances where you don’t get the results you want and tend to lose hope and faith in the journey which you are moving on.
That is the time when you don’t have to give up and keep on hustling harder and stay fully committed to whatever you want to achieve and trust me, you will get the desired result.
You can fail as many times as possible but to prove the people that you were right, you just have to be successful one time.
All it takes is that one article, one video that can make all the difference. I have seen people where one of their videos goes viral or some article goes viral and that is the life-changing point for them.
As I mentioned earl
I have interviewed Krishna Rathi a concept artist whose concept art of Dhoni went Viral on the internet.
People started believing it to be a one-night event, where the guy gets fame in one night.
What people don’t understand and see is all the efforts, skills and hardships that the individual has faced reaching there.
Krishna used to wake up early at 5 a.m, he used to sleep less so that he can take out time for the thing he loves and he is passionate about before going for his classes. That is what, entrepreneurship demands.
So, if Krishna wouldn’t be patient enough to follow what he is doing he won’t be able to get the results he has got. It all happened because he was patient.
Some people believe that success comes easily, through miracles which can happen in a night, but what people don’t understand is that success is the result of all the hard work that the entrepreneur has put in all this time, the efforts came
Negative comments, criticism are all a part of this journey which you will face because entrepreneurship is an unconventional career and most of the people don’t follow entrepreneurship because of the risk involved, but when you talk about the happiness it provides, it is worth taking the risk.
Perks of being a digital entrepreneur
Digital entrepreneur lifestyle is a lifestyle people dream of because of the perks you get in terms of freedom, happiness and the level you are able to scale.
- Money Freedom
- Time Freedom
- Mobility freedom or flexibility
All the smart people today have taken their businesses online because they have very well-identified the power of the internet and how the internet can generate massive growth for them.
Speaking about the freedom-based model
Having enough money coming passively to you, so that all your needs are very well fulfilled. You make enough money that you don’t have to worry about how you will pay your bills.
The best part is when you set up a system for your digital assets, your digital assets will start working for you on auto-pilot mode, when of the best features of digital entrepreneurship.
These are called funnels. Like some YouTubers start to put a vide0 and in the description of that video, they mention the product they have made, which can change the life of people.
Then they sale it through the link in the description, and all this thing is automated. Money keeps pouring in, once the video is on the internet.
One thing which every digital entrepreneur makes sure is that his timing is not bound, he can work anytime with no timings set.
Let the world sleep, I will do my work now and go off to sleep.
You have some issues, you have something important to do at 2:00 p.m. but your boss won’t allow you to go? This thing will not happen when you follow digital entrepreneurship.
Digital entrepreneurship’s is a profession which makes sure you have the time freedom so that you can work anytime you want.
It is all digital, you need to just produce content and showcase it to the world.
Digital assets to an entrepreneur give them the flexibility or the mobility to work from anywhere in the world, no matter what the place is. You can sell products, e-books from anywhere in the world. You can run or write a blog from anywhere in the world, or shoot videos. This is the benefit of creating your online presence.
People who are in a job just curse this thing, going to the same place every day (i.e the office) and meeting the same people.
Sometimes, an emergency comes up and you have to go somewhere, where your presence is required, but your boss doesn’t give you the holiday you requested.
Digital entrepreneurs don’t have to face the above issue, because they have the mobility and flexibility to do things which can be accessed from anywhere.
As the product is based online and has no physical presence, the amount at which can be scaled is unimaginable. There is no inventory problem, no delivery problem.
Everything is online and that is the game. People are loving it, scale it by re-investing the profits, it generates great returns.
Scalability with other assets like real estate, business expansion offline requires heavy investment but in online, the capital which is required is very very less.
Nothing brings more happiness to an entrepreneur’s face when they see their product doing service and adding value to the lives of people.
All the above perks are a by-product for the service and value they give. Seeing people’s lives change is the ultimate aim of a true entrepreneur.
I hope this post has given you great insights about a digital entrepreneurship journey and I hope, you will also follow the entrepreneurial journey.
Link to my Instagram where I post micro-video related to ideas from different books: Arjun Sachdev
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