Generally, I think entrepreneurship has remained the same throughout history.
A couple hundred years ago, people were making investments in the new world and discovering new technologies and businesses along the way. At the end of the day, the way we do business has not fundamentally changed. As industries advance, so does the knowledge base passed down to the next group of young professionals.
What has changed is technology.
In fields like banking, engineering and medicine, you can see firsthand the technological evolution and how tech has improved our lives.
Technology yields a significant advantage for today’s entrepreneurs. They have a strong grasp and understanding of the technological tools that are available to them.
Whether it’s opening up an online business or setting up an eCommerce infrastructure, a lot of this knowledge comes as second nature, or at least readily understandable, for new or young entrepreneurs.
As for conditioning the next generation of entrepreneurs, my best advice would be to never forget about the human aspect of doing business. No matter how much technology there is, there will always be another person on the other side of the screen or the phone.
It’s important to understand the needs and wants of that person.
Oftentimes, successful entrepreneurs will tell you about the importance of learning as a leader and seeking guidance from people who have been there before. Many people who launch startups have a support network in place, which can include family members, friends, peers, and mentors. They also have stakeholders who want them to succeed and are glad to provide advice.
It certainly helps to have a team rooting for you, but leadership skills are often developed through experience.
In many cases, entrepreneurs who start companies learn leadership by living it. And — if you think about it — as the workplace of the future continues to evolve, the makeup of teams will be vastly different. The ability to go beyond technology and embrace human skills will be what keeps entrepreneurs and leaders relevant. Inspiring employees to do their best work will inevitably keep them engaged and willing to stay on for the long haul.
There’s risk attached to nearly everything when it comes to entrepreneurship, but if you can embrace the human side of business, the fact is, you will be more likely to succeed.
