In the last few decades, technology has advanced tremendously, leaving no aspects of life untouched. Technology has open new ways of employment opportunities, make everything from booking tickets to attending wedding rituals online. These changes made an impact on entrepreneurship and gave rise to an entirely new category of entrepreneurship.
“Netpreneurship is the amalgamation of two terms, net and entrepreneurship. Netpreneurship is a new area of the business that operates entirely online.” The introduction of Netpreneurship into the market has eliminated several limitations faced by the people who think of starting their own business. Capital requirement, infrastructure, inventory and stock are some of the hindrances. A netpreneur is a person who uses their knowledge and connectivity as prime inputs to build a business that serves the needs of the market.
Netpreneurs are the people who depend entirely online to sustain a living.
There are Self-made Netpreneurs who create their business and get themselves employed and, there are big establishments where a vast number of people and resources are involved. Netpreneurs are the people who identify the existence of an opportunity in the market, plans out to covert that into an idea and, then, finally converts that idea into a product that caters the needs of the market. A Netpreneur is a person who manages to sell their product at a profit online. But we know how difficult it is to sustain in the market online when you are enclosed by solid competition. A Netprneur must identify the right marketplace for their product so that their business doesn’t fail.
A Netpreneur has to perform a list of responsibilities that includes:
- Identification of the existing opportunity.
- Convert the idea into a business through planning.
- Identify the target audience.
- Assembling all the required raw materials for the product.
- Manufacture the finished product.
- Conducting research to judge whether their product caters the needs or not.
- Planning and implementing the promotional strategies.
- Wining new customers as well as satisfying the existing ones.
- Maintaining a favourable image of the brand.
- Accumulating constructive criticism from customers to know what they think about the product.
Resource requirements for establishing Netpreneurship.
- Several computer systems connected to a network.
- Stable internet connection.
- A website for the business.
- Skills for carrying out marketing and accounting tasks.
Some of the world-famous Netpreneurs are Jeff Bezos, Steve Chen, Paul Allen and Binny Bansal.
The Internet has become the king of the market, the development in the area is exceptionally high, leaving no tables unturned. Owning this fact, Netpreneurship is a subject of popularity these days. Also, in the coming future, The Netpreneurship will continue to be in the limelight. Covid has changed our living it has also changed how we buy things. A majority of people prefer to purchase products online. Almost every individual is on the Internet, which makes the Internet a place with a ginormous amount of customer. That is the reason why a lot of people are investing a big amount to promote their product online. Netpreneurship is the present and the future of Entrepreneurship.