What is Digital Entrepreneurship?

What is Digital Entrepreneurship? — page 1 — You signed up to be part of a ﬂash mob You’ve practiced your moves Today’s the day Excitement bubbles through your body as you and your bestie make your way to the secret rendezvous As you get closer other groups of teens appear Music blares through the square Several teens bound onto the pavement There’s a cheer And then you’re jumping and cavorting through your favorite moves Soon people stop to watch You smile and wave Who knew being part of a ﬂash mob could be so exciting Flash Mob-onomics These Youth Theatre actors in London England are participating in a ﬂash mob event called Race to Save Honeybees 4

What is Digital Entrepreneurship? — page 2 — Flash Mobs for Fun or Hire A flash mob is a group of people who gather in a public space Working together they sing dance or act Within 10 minutes the group breaks up and disappears into the crowd In June 2003 the first flash mob met in a department store in New York City The group had organized via email They met in the store’s rug department and gathered around an expensive rug they had dubbed the love rug That first flash mob was organized for fun by Bill Wasik a magazine editor Flash mobs use phones or other mobile devices to get people together Soon they appeared in other parts of the United States in the United Kingdom and Poland Before long they had spread around the world Some flash mobs celebrate a special event such as a school graduation Others raise money for charity Some just focus on being silly and having fun in parades at carnivals and at other events Flash mobs have been known to mime rap or even pillow fight Seeing an opportunity digital entrepreneurs jumped on the idea They developed online businesses that offered flash mobs for hire Today people rent flash mobs to advertise sports events celebrate birthdays and get attention for their business This woman dances in a ﬂash mob during a carnival parade in Borgosesia Italy 5

What is Digital Entrepreneurship? — page 3 — You have to be burning with an idea or a problem or a wrong that you want to right If you’re not passionate enough from the start you’ll never stick it out Steve Jobs Making Business Digital Entrepreneurship is the process of turning an idea into a business The person at the head of this process is the entrepreneur Entrepreneurs are the driving force behind every business They believe in their idea and are willing to take risks to see it develop If the business succeeds the entrepreneur usually beneﬁts the most They can beneﬁt ﬁnancially or achieve a personal sense of satisfaction about their accomplishment If they’re lucky they’ll achieve both Steve Jobs was passionate about his vision to get computers into the hands of everyday people That’s what drove him to co-found Apple Computers 6

What is Digital Entrepreneurship? — page 4 — University students Sergey Brin and Larry Page shared a passion for the Internet that motivated them to develop a better search engine Today their search engine Google com is so well known that google became a word in the dictionary It means to look up information online When he was 19 Michael Dell founded the Dell Computer Corporation a company that sold directly to customers instead of using retail stores Now known as Dell Inc his business sells computers via the Internet Characteristics of Entrepreneurs Successful entrepreneurs such as Steve Jobs and media star Oprah Winfrey share certain characteristics that make an entrepreneur successful They are creative persistent and willing to take risks They do whatever they can to turn their vision into reality All entrepreneurs are likely to experience failure at some point It’s their determination to pick themselves up and try again that often leads to success While all entrepreneurs follow similar steps in creating a business it is passion that often defines what field of entrepreneurship they will enter Passion also drives them to succeed Most modern entrepreneurs fall into one of three main fields of entrepreneurship social environmental or digital Social entrepreneurs are passionate about helping people and are driven to create products or services that improve the lives of others Environmental entrepreneurs develop new businesses that focus on helping meet environmental challenges Digital entrepreneurs have a passion for technology They work to create the next big innovation to share with the online world 7

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