Redefine the Process

Migrated. Originally posted June 8, 2009

To say that the internet, and the Information Age have forever changed the landscape of business is the most obvious statement on the planet. The real question though, is not how companies transition to new Information Age models, but what does this information revolution mean to the entrepreneur?

There is this commonly held belief that the most important skill of an entrepreneur is his or her ability to raise capital. In the Information Age, this is absolutely dead wrong. The internet has seriously changed that. There are so many sites out there that will allow you to put up and host a website for free. They come with easy to use tools and pre-configured designs and layouts. Are they the greatest in the world? Not really, but they are absolutely the right price– free. Add a domain, that’s a whopping 15 bucks a year. Would capital help, absolutely, but it is not necessary. 

With the internet, massive amounts of capital can be replaced by massive amounts of sweat equity.

This leads to what lots of people think may be the other most important skill on an entrepreneur; reading the market, and predicting where trends are going and how to capitalize on them.

The internet, and the massive amounts of information available, make it easier for individuals to do proper research, analyze a situation, and make a significantly more informed decision than before. What I am getting at is that what used to take a team of people doing research in a particular niche, or a market, can now be done by someone who knows how to beat on Google hard enough to get the information, and is willing to put in the time to do the analysis. Surveys, focus groups, and all that other stuff companies used have to do in order to figure out customer to their products can all be done through Google’s blog search and search.twitter.com.

The really big question then arises, which is not what the internet and Information Age has changed  for entrepreneurs, but how can it empower ordinary people to do extraordinary things?

I had dinner last night with my friend, Sean last night and we were talking about how people are making large amounts of money off eBooks. The fairly ironic thing, is that many of the people profiting from those sales, were not at all involved in writing them– they are just affiliates acting like a regular book distributor/store, but they have next to no overhead. The really crazy thing is that no one involved in that sale made a physical product.

I’m not even going to get into all of the other things that individuals are doing to make extra money. The reality is this, there is absolutely no reason why someone who is reading this post should be slaving their lives away at a job if they don’t want to. Just as the internet can destroy businesses that don’t adapt, it can absolutely empower people to do something great with their lives.

  • http://www.facebook.com/people/Gerardo-Ritchey/30604616 Gerardo Ritchey

    Things change, business changes, and people need to adapt to survive

  • http://gerardoritchey.net Gerardo Ritchey

    Things change, business changes, and people need to adapt to survive

  • http://gerardoritchey.net Gerardo Ritchey

    Things change, business changes, and people need to adapt to survive