Entrepreneurship Beyond Tomorrow

Last modified 17 January 2023
Categories: AIB Review
Entrepreneurship Beyond Tomorrow

Micah Walker, MBA, Founder and CEO – Eagle Origins

Introduction

Have you recently purchased a product online or subscribed to an online service? If your answer is yes, then you are fully immersed in the digital and online world of marketing and product innovation. Our digitally engaged reality was imagined by entrepreneurs and intrapreneurs years ago and became their driving mission and, eventually, our reality. This article questions what the profile of an entrepreneur will be beyond 2022, and how they might influence the world as we know it.

Yesterday

The study of the entrepreneurship phenomenon is barely one hundred years old, and interpretations of the trend have evolved significantly in recent years. Schumpeter once remarked that “creative destruction” would define entrepreneurship and that one may only be called an entrepreneur if they have the intelligence to innovate. History tells us that he was correct. Modern transport, global communications, consumer products and, more recently, advanced technologies have all been pioneered by risk-taking business leaders who pioneered market development and, in turn, economic growth.

In 1993, I was awestruck by our 27-inch colour TV! even though the picture was often fuzzy and transmitted through a thick glass screen with an analogue signal. And if you didn’t make it home on time to watch, you missed out!  Television has been acknowledged as an important cultural force in Australia and, without knowing it, influenced my entrepreneurial curiosity more the 20 years before digital television was switched on for everyone and started significantly improving their visual immersion, which we have across all digital screens in our lives today. Immediately beyond the digital television horizon was the massive advancement in personal computing and smart devices, which now play a far more influential role in our lives than the humble television which entertained us in our youth.

The curiosity that was borne in me during that time led me to imagine an entrepreneurial future for myself and others. I questioned where the technology trends would go and what technology and global production would deliver for our everyday life. I don’t believe I heard the word “Entrepreneur” until my mid-20s. I was somewhat embarrassed not to know and understand everything about a topic I was becoming drawn to. After choosing an intrapreneurial path – to acquire corporate experience and executive capability – I started tackling more creatively disruptive roles in leading the kind of technology and innovation I had grown up dreaming about. Yet, it has been the patience, tolerance and compassion in my career, when blended with creative innovation, that has spawned the best results. The friction may still be needed to unlock innovation, but the entrepreneurial drive to disrupt is evolving into something far more refined and sophisticated in today’s entrepreneurs.

 

Today

Entrepreneurs are already building and defining what is referred to as the Web3 world. Some say this new digital revolution could democratise and decentralise “everything” from digital identity to ownership over our data. Deep technology companies like TodaQ are building verifiable integrity into every transaction, payment, transfer of value and more via some of the most intelligent and scalable solutions available. A future where trust in restored to digital transactions is guaranteed and evolves technology from the days of IoT (the internet of things) to IoE (the integrity of everything).

Well-known entrepreneurs like Elon Musk and Mark Zuckerburg are driving forces in our digital economies. Still, there are countless other entrepreneurs like Hassan Khan, CEO and founder of TodaQ, who is solving the problem of integrity in deep technology, to entrepreneurs like Anders Rodenburg, who are using their vision on purpose-driven impact. His venture denominator is bringing equilibrium to diversity, equity, and inclusion, solving for the transparency of DEI across all organisations globally.

A great example of modern entrepreneurial success is Australia’s own Melanie Perkins, the tech CEO entrepreneur and now billionaire founder of Canva, the graphical design platform. Her story offers insight into the entrepreneur profile that may become the standard.

Developing entrepreneurial self-determination at a young age through selling a physical product in her spare time, she became curious during her tertiary studies about creating a digital design tool for people without graphic design skills. Born in a digitally native era, her idea would evolve from humble beginnings to over 40 billion in value in 2021. Following hundreds of funding rejections, the leaders located their seed funding, partly from government grants. Then Canva emerged in 2013 when the rise of social media platforms was changing how businesses reach customers. In an era where people were starting to care a lot about their online presence, timing played a part and Canva globalised by building a product for everyone, not just professional designers.

There are countless stories of entrepreneurs who haven’t achieved their peak success but will emerge from digital innovation. Taking phone calls on your watch, making purchases influenced by an algorithm, ordering shoes on your phone without trying them on and paying with digital money in real-time, this was once a realm of movie fiction that has become our current reality.

Many of these trends were predicted by futurists. Still, the entrepreneur and commentator of yesterday didn’t have the same global reach as today, where publishing anything from peer-reviewed research to opinion editorials is easier than ever. A 180-character post or 5-second reel today can influence millions of people in seconds.

My experiences in my youth developed a thirst for life learning. Leveraging that ambition as a growth executive and now entrepreneur has shaped the design of my identity (and still evolving). In the profoundly different digitally native environment of today, the biggest cohort of future entrepreneurs in history are experiencing digital immersion as children and adolescents during the most formative years of their lives. No doubt, this will shape what we know of entrepreneurship beyond today.

Tomorrow

The future of entrepreneurship is likely to be less about creating disruption and more about enabling and empowering. The curious exploration of a product market fit will remain a hallmark as entrepreneurs continue to act as the wheels of economic growth. However, the tolerance, critical thinking, empathy, and agility of the modern entrepreneur will look, sound and act differently from what we’ve known before.

It is the masterful blend of knowledge and humanity – IQ and EQ plus Adaptability (AQ), which are accelerated by self-healing and self-awareness, that truly separates promising entrepreneurs from the crowd.

Beyond Tomorrow

There is no end to the entrepreneurial pursuit. While entrepreneurship isn’t everybody’s chosen field of study or work interest, whether you are an employee, a student, or a scholar, we are all consumers and global citizens influenced by entrepreneurs and their advancements. Our voice has never been more empowered in influencing the success and evolution of the entrepreneur beyond tomorrow. Digitally agile, diverse, educated and working from anywhere, entrepreneurs beyond tomorrow will tackle more significant challenges than ever before on sustainability, the economy and for society.

Post a comment