Entrepreneurial Culture – Getting Away from Traditionalism
Tags – Entrepreneurial Culture
As a result, there are clear distinctions between cultures of entrepreneurship in the distant past and what is seen as normal behaviour now. Given the continuous change, we believe that the future of entrepreneurial culture will be quite different too.
In this article, we aim to outline some of our beliefs of the future that should enable businesses to adapt to the changing market. With these changes, even the small businesses can continue to network and even make their efforts more effective, increasing their marketing and sales potential.
Let’s begin by looking at the traditional entrepreneurship culture.
Traditional Entrepreneurial Culture
Traditionally, entrepreneurs were known to be quite secretive.
In fact, most entrepreneurs lived in the fear that their ideas would be stolen by the next person they share too much with. As a result, there was always a sense of mistrust, that hindered the potential for making serious professional relationships.
Such was the case that patents and copyrights were an expectation for every little idea. In fact, businesses saw real value in pursuing patents and copyrights themselves.
In all fairness, for the more traditional entrepreneurs, such conditions are still quite common. And, for some businesses, e.g. in the pharmaceutical industry, patents are the true money makers. However, for most entrepreneurs, and especially startups, there is little value in secrecy.
For better or worse, the British market has become service heavy anyways. So, traditionalism in entrepreneurship is somewhat dying off naturally, as we associate copyrights and patents with physical products.
Similar changes have also been seen in the way we build relationships.
Changing Ways of Building Relations
In the past, for the most part, professional relationships were built through meeting within networks and socials.
This meant that you could only meet other people by already knowing some people somehow. And, the most effective way to do so was over a beer.
In fact, beer was the social fluid that built sales pipelines.
Such was the strength of the pub culture that even institutions like Leicestershire Police had a pub within their headquarters. However, things have changed: the pub is gone.
Today, we have a culture of social media, especially LinkedIn, tracking and getting to know each other over a cup of coffee, or tea if you prefer. Doing so is also a bit more exclusive.
And, in any case, you can have a beer a bit later, if you actually like the person you are connecting with.
The Death of Hierarchies
We will not go on a full-on bash of hierarchies.
In fact, we are well aware of the fact that humans build hierarchies at a psychological level.
However, what we mean is the general acceptance of hierarchies and how they impact the business mentalities.
For instance, if you are part of a BNI, chances are that you are surrounded by individuals who have a single business. In fact, this is one of the conditions for becoming a part of the BNI.
But, in today’s digital world, how many businesses-minded people stick to a single project. Here, we can bang on about the need for diversification, but that is common knowledge at this point.
Sadly, traditional BNI enthusiasts still do not take people with more than a single business seriously. In all fairness, doing so is their loss.
The entrepreneur of today is looking to do more with their time and expand their skills and services to keep growing, instead of dedicating your life to a single idea that may die out in 5 years.
Businesses do not require a fortune to start anymore.
With the proliferation of MVPs, all you need is a viable idea, a testing ground, and measurement of results, before going full scale.
Even the need for an existing network is diminishing and people are open to opportunities.
In some ways, we have become more social as a result of the anti-social behaviour pushed into us by digital options. Funny how things work out.
All in all, it is now about innovation and finding your little spot in the market, before world domination. But, there is a negative side to all of this too.
Recently, a 19 year old entrepreneur on LinkedIn asked me to drop him an email. I promptly removed him from my connections.
In other words, there is also a rise in wannabe entrepreneurs, who don’t truly understand that the world around them has changed. Business of today is about collaborations and understanding what can be achieved before going out and achieving it.
To learn more, get in touch with us today.
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