The continuous development of technology has played a vital role in the growth and success of many companies and entrepreneurs. As a matter of fact, it is one of the business necessities that even major industries rely on to keep their operations running. Aside from this, numerous business ideas, concepts, models, and plans have constantly evolved since technology was introduced, including technopreneurship.
Having said that, it’s important that you also stay abreast with different technopreneurship ideas to ensure that your business thrives in the market. To help you, we’ll discuss in this article several technopreneurship concepts that can serve as your inspiration as you carve a career path in this field. Plus, we’ll give you effective tips on how to implement them.
Before we delve into different technopreneurship ideas, let’s first define what technopreneurship is.
It is a combination of the words “technology” and “entrepreneurship” wherein the research, development, and distribution of business products and services primarily depend on technological methods. Simply put, technopreneurship involves utilizing technology in facilitating and managing business activities.
Why Technopreneurship Ideas are Important
If you’re going to pursue a career in the world of business management and entrepreneurship, it’s crucial that you also understand the importance of technopreneurship ideas. Why? As mentioned, technology has significantly contributed to the growth and success of many businesses.
Aside from these, starting or running a firm with innovative, unique business ideas helps you establish a steady revenue stream, earn active and passive income, and foster a strong business network. Plus, these can serve as driving forces toward business expansion and brand building.
Five In-Demand Technopreneurship Ideas Toward Business Success
Without further ado, below are the top technopreneurship ideas you should consider if you want to embark on a career in this field. Read on.
1. Online Educational Systems
Nowadays, academic institutions have been relying on online educational systems to efficiently administer all facets of the learning process for teachers and students. But more than the academic side, professionals like business owners and entrepreneurs have also embraced online learning systems to enhance and update their entrepreneurial skills and knowledge while running their business. These also help them gain knowledge and skills to understand the different aspects of their business. As a result, they can stay ahead of the curve.
2. Customer Relationship Management (CRM) Software
Customers are one of the integral reasons behind businesses’ continued operations. Hence, it’s important that you manage your relationships with customers, even in a digital way. That’s why with CRM software, you can easily track all communication, information, and notes about customers or potential leads instead of checking different spreadsheets, databases, and applications to gather their data. Plus, these systems help streamline customer service, sales and marketing efforts, and management. All these, in turn, lead to impressed clients, business efficiency, and better time management.
3. Accounting Software
Modern accounting software, like QuickBooks and ZOHO Books, allow businesses to streamline their tasks and manage a large number of financial data. Thus, businesses can minimize discrepancies and mistakes, reduce financial risks, and find opportunities to increase their revenue. More than that, accounting software also lets businesses automate most steps of the accounting cycle. These include managing invoices and billing, tracking expenses and online payments, and performing bank reconciliation.
4. Human Resources Information System
One of the busiest departments in all firms is human resources (HR). From employee database and directory, onboarding, benefits administration, payroll, to applicant interview, HR professionals would need systems to improve their processes and keep organized. That said, by reviewing human resource information systems (HRIS) your technopreneurship ideas can blossom, you can make HR operations more efficient, simple, and productive. Moreover, with an HRIS, HR practitioners can allot more time to strategize initiatives and programs that boost business outcomes.
5. Digital Advertisements
In this digital age, most businesses and corporations have shifted from brochures, billboards, and banners to online marketing materials to promote their products and services. Aside from saving time and money in producing print marketing materials, digital ads play a vital role in reaching a wider target audience, generating high-quality leads, and earning high-ranking positions in search engines. Likewise, it can help businesses target ideal customers, engage with them at every buying stage, and track the results of their campaign—whether it’s from social media channels or search engine optimization (SEO).
How to Implement Technopreneurship Ideas in Your Business
Now that you have these promising technopreneurship ideas in your mind, what’s next? Of course, you have to turn these into reality! Below are some tips on how to take your technopreneurship ideas to your business.
1. Share them with your team.
Discussing your technopreneurship idea with the people you work with will help you determine if it is something that can truly improve your business. Ask for their honest feedback and let them assess the potential of your idea. This applies particularly when the people you’re talking to are the ones who’ll be using the tools, software, or equipment once you’ve acquired it.
2. Read reviews.
While any new kind of business technology will sound attractive, not all of it is right for your business. Doing research and reading reviews on the technopreneurship idea will help you objectively weigh the pros and cons. More than anything, it will help you decide if you really need the technology for your business or not.
3. Develop a business plan.
Before launching your business, it’s crucial to lay out a business plan. This will serve as your guide on the resources, strategies, and materials needed to achieve your business goals and a timeline of expected results. Plus, it can aid you in determining where you will get funds, as well as understanding when and how you will generate profits.
4. Define your business needs.
Surely, you already want to have the slick benefits and a full set of features advertised by the tech company. However, it’s highly recommended to keep them on hold for a while. Instead, understand first what your business actually needs and the problems that you’ll want to solve with the tools, software, apps, and equipment that you’re thinking of purchasing.
5. Test the product.
To ensure that the tech is compatible to your needs and capabilities of your team, avail of the company’s trial periods. Test if tools are user-friendly, customizable to your business needs, and if it does truly help your business operations. This way, you will know if it is worth the price before you actually purchase it.
6. Optimize your approach.
Flexibility is one of the important qualities of successful technopreneurs and entrepreneurs. That said, be open to changes to switch software plans or brands as your business grows. Take your team’s feedback constructively, then analyze and work on it. From there, you can modify your approach to continuously thrive in the market.
Develop Your Technopreneurship Ideas with CIIT Philippines!
Aside from the abovementioned technopreneurship ideas, there are still more to include in the list. This means that there will also be tight competition in the market as more businesses undergo full digital transformation and innovation. Therefore, it’s necessary to start planning your ideas as early as possible. Doing so can prepare you to get ahead of the game and be recognized as one of the most sought-after technopreneurs.
To be able to achieve these, you first need to develop and enhance your entrepreneurial skills. And what better way to do that than to study at an academic institution that has Industry-backed curricula? Good thing you don’t need to look further.
With CIIT’s Bachelor of Science in Entrepreneurship, you’ll learn the foundations and science of establishing a successful business. Our program will teach you different strategies and approaches to find opportunities and address problems through innovative business ideas.
Furthermore, we will help you turn your ideas into real tech startups by adding digital platforms and business-level tools to the usual classroom concepts and traditional business models. Likewise, our teachers who have years of experience in the industry will train you on how to build a website, master digital marketing, develop your own applications, and identify emerging tools and tech that can benefit your businesses.
What are you waiting for? Join us today and become one of the successful and innovative technopreneurs in the future!