The year 2021, with some significant help from 2020, is probably the optimal year for both professional and beginner entrepreneurs to engage in their favorite activity – entrepreneurship.
What Does Entrepreneurship Really Mean in 2021
So far, entrepreneurship meant mainly opening or reviving businesses on a local level. Only a couple of entrepreneurship-like enterprises would rise to become global phenomena; the rest would remain known only at a local or national level.
But, as mentioned, things have changed in 2021. From now on, entrepreneurship activities have widened their scope.
Instead of the casual all-natural milk delivery business, entrepreneurs nowadays can even become a broker with a Forex license in Vanuatu and state that they’re successful entrepreneurs.
Consumers – Consumers Everywhere
One of the first and foremost issues an entrepreneur faces is the lack of consumers. Keep in mind that entrepreneurship, in most cases, is a particular type of business that is usually isolated from the mainstream ones.
Naturally, this has changed during the pandemic. If the entrepreneur does everything correctly, they’ll shift their entrepreneurship to the online environment – a place where there are tons of customers for almost any type of product or service.
For example, e-commerce and its associated platforms jumped 40% in customer quantity due to COVID-19. If you had an ecological leather handbag business planned, now’s the time to make it go global!
More Than Just Business
The boost provided by the pandemic to entrepreneurship has changed the mentality of the entrepreneurs as well. It has been noticed that people overall pay more attention to what they can’t and can’t do – speaking strictly of strengths, abilities, skills, and gifts.
As a result, entrepreneurs in 2020-2021 have come up with some brilliant ways to monetize their abilities and skills – in short, doing what they love and getting paid for it.
Thanks to the increased customer database, almost every type of business an entrepreneur would pull would see at least moderate success.
Increased Partnership Opportunities
Another problem that entrepreneurs faced was the lack of either partnership or employment opportunities. By this, we mean that the entrepreneurship world was not that populated – most people had a well-paid job that they wouldn’t sacrifice for one of their dreams (sadly!).
However, the pandemic changed all of this. More than enough people lost their job throughout 2020 – the results were, obviously, flawed, but not entirely.
This en-masse job loss was the perfect opportunity for some more conventional people to engage in entrepreneurial activities.
- A great majority of those that lost their job due to COVID-19 have decided to start their own company/business based on their skills and abilities – or on simply doing what they love.
- Those that didn’t become entrepreneurs mostly decided to support or help/work for those that have taken this big step. This means an increased available workforce for the actual entrepreneurs.
- The main result is that entrepreneurs throughout the world can now solve two problems – enjoy partnerships and an increased number of available people for hire and provide financial relief to those affected by the pandemic the most.
Overall, 2021 comes with a more prominent family of entrepreneurs and people willing to work within this particular environment.
Many people stated that they’d instead work for an entrepreneur, doing what they like, then in a multinational company, playing the robot from nine to five.
Drastic Market Increase/Evolution
In 2018-2019, people barely knew about trading, for example. However, in 2021, everyone knew what it meant to invest in GameStop and, most importantly, buy, hold, and short-sell a stock.
We could say that markets, not only trading, have evolved significantly – especially in consumer retention -, due to the pandemic.
This means an increased scope for entrepreneurs, as mentioned above. From now on, entrepreneurship will mean much more – we’ll see entrepreneurs open companies and businesses very similar to multinationals.
Why? Because they now have the power to work on a much larger scale, thanks to the evolution of online commerce, remote work, and so on.
As mentioned, entrepreneurship in 2021 can mean as much as being able to become an online Forex broker – and this can be done in just a couple of days!
The Bottom Line
So, what does entrepreneurship mean in 2021? Well, for starters, you won’t hear about entrepreneurship only via local TV or ads throughout your city.
Due to the changes forced by the pandemic, entrepreneurship has somehow changed even their marketing procedures.
Even artists that painted and sold locally for the past 20-30 years have now decided to open their Etsy or Amazon seller account and, one way or another, engage in their own entrepreneurial-like business.
Naturally, the ultimate goal is scaling to a level where simple entrepreneurship turns into a global success – or at least national.