The Adventure Institute concluded another successful course with young entrepreneurs this week. What stands out from this rewarding journey is the breadth of talent, enthusiasm, and incredible tolerance for risk, as well as the resilience of our people despite the uncertainties associated with being an actor in an emerging economy. Seeing people realise their unique gift to the world is their resilience in confronting real problems with real solutions daily. It is an exciting time to be alive, and being an entrepreneur in the digital age opens up a new frontier of possibilities.
In our era, the most brilliant minds in our economy are dedicated to shaping consumer behaviour, influencing them to click, like, order, buy, consume, and invest. The might of big data, technology, algorithms, and artificial intelligence empowers these giants to proverbially shoot fish in a barrel. From a business perspective, consumers reap the benefits of increased affordability and convenience of goods and services. But when does this consumer market hit saturation, and does the race for lower prices hint at a race to the bottom?
As an entrepreneur in the experience economy, reflecting on the recent revolution in the online world is helpful. The use of the internet evolved from the read-only 90s to the follower era of the 2000s, followed by the creator-led era of the subscribers and fans of the 2010s. The social media company TikTok, which gained 1 billion users by 2020, disrupted the ecosystem by taking over the choice of what you see away from you using algorithms and heralded the end of the creator-led community with all social media companies following suit.
Now, more than ever, it is crucial to forge a deeper connection with your online friends, fans, community, and customers. This can be achieved through meaningful interactions, sharing inspiring content, and finding an authentic voice that fosters a profound connection with you or your brand. Leveraging your platform to facilitate a transformative experience, be it educational or entertaining, will undoubtedly be a winning strategy!
“When you have something to say, silence is a lie.” Jordan Peterson
