Summary. As digital entrepreneurs, we thrive in the online space, recognising that marketing spend is a vital component of sales in today’s fast-paced, data-driven world. Our advantage over traditional brick and mortar businesses lies in our ability to harness the power of data to truly understand our customers’ desires.
In “The Digital Entrepreneur” by Ryan Moran, he reveals the principles for success in the digital age, showcasing how leveraging data can propel your business forward. Focusing on clear messaging, rapid delivery, and strategic marketing investments, digital entrepreneurs can optimise their growth potential.
Embrace the digital revolution and discover how data-driven insights can transform your business.
There are 3 core elements you need to be able to become an entrepreneur:
An eye for a product
Motivation and passion
Skills and experience
What differentiates a digital entrepreneur from an entrepreneur?
The key fact I would contend is the understanding that in an online world marketing spend is a cost of sale. The more you spend the more sales you will generate online.
Entrepreneurs with ‘offline businesses’ (retail, wholesale, manufacturing or office-based) tend, as a rule, to regard marketing as a budget. This online growth tends to be limited as they try various things without truly knowing what works what doesn’t and why.
The component of online marketing that enables digital entrepreneurs to do this is data. The ability to measure what is working and what isn’t.
The ability to measure, refine and repeat, and invest in marketing gives digital entrepreneurs a big advantage over their brick and mortar counterparts.
Becoming a Digital Entrepreneur
The Digital Entrepreneur by Ryan Moran, is the first book to introduce principles for success in the digital age. Lessons learned from digital entrepreneurs, such as Gary Vaynerchuk (wine), Pat Flynn (real estate) and Steve Chou (mobile), show you how to use data to truly understand what customers want.
The elements that propel a business into growth are clarity of message, speed of delivery and marketing spend.
A digital entrepreneur can be anyone. It is not about what you sell but how you sell it – and the way to do this is by understanding the rules of the internet and using them to your advantage.
We have lived through the age of steam and the age of electricity, and now we are living through the age of knowledge. Knowledge workers, entrepreneurs, business leaders–all these groupings are becoming as important as farmers or miners were 100 years ago.
Online Business Consultant
As an online business consultant, Mike Raybone understands the importance of staying up-to-date with the latest trends and technologies. He is always on the lookout for new ways to help his clients achieve their goals and reach their full potential. Mike Raybone can take your business to the next level! Get in touch today to find out more.