A hundred years ago, starting a business was a lot less complicated. There was no need for an EIN and there was no need to understand countless regulations relevant to your business. Purchasing multiple types of insurance and acquiring licenses was not necessary. And let’s not forget the ever growing list of other items you must check off before you even consider your first sale. Times have changed—even to the point of the type of person taking upon the mantle of entrepreneurship. This is especially the case over the past few decades. In the article The New Wave of Entrepreneurship on Toptal, the following point is made:
Previous decades saw similar shifts in entrepreneur characterizations. The late 90s were about Harvard MBAs applying traditional management techniques to leverage brand new Internet technologies. The “aughts” brought on the “22 year-old Stanford Computer Science” graduate applying technology to a low hanging industry. Now, in this decade, we are seeing a new wave of entrepreneurship driven by industry executives with deep product backgrounds leveraging technology to disrupt a traditionally non-tech industry.
Just think about it for a moment, 20 years ago, the MBA was the “must have” degree and now it faces an over-saturated market. Anymore, it isn’t necessarily the MBA grads creating the successful up-in-coming business, it is those industry insiders and executives who see the lack in their industries and become the entrepreneurs to fill that gap.
The CEO of KazSource, Eric Kasimov, spent years within the insurance industry and in seeing the outdated business models, he was able to fill the void and build a successful business. It is never easy, it takes vision, and it takes drive (plus many late nights), but the new face of entrepreneurship is reshaping the landscape and leading the way for incredible revolutions across many industries.
So that begs the question, if you are an industry insider or executive, are you just living with the problems and old business models within your industry? If you see a better way or a new way of doing things, what is stopping you from joining this new wave of entrepreneurs?
Go for it now. The future is promised to no one. (Dr. Wayne Dyer)
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