Entrepreneur's Handbook
TRENDS
4.1. Following the Market
Following the market and understanding the trends represented by the initiatives will create new opportunities for entrepreneurs. For example, the concept of sharing economy is one of the most important market trends in recent years. With the sharing economy, everything that is not used 100% by the owner is made available to others, and benefits both commercially and in terms of efficiency. There are many examples such as sharing the house, sharing your idle car in front of your home, sharing your cottage, sharing equipment that you do not use frequently, sharing the room of your office that you do not use, sharing a part of your warehouse that is not 100% full, sharing the parts of your logistics fleet that you do not use, sharing the service you use while going to work. By following this trend, different sharing economy initiatives may create new opportunities for entrepreneurs.
Similarly, many people talk to the other person on their smartphones and use dozens of photo filters. Following this trend, introducing new photo filters will also provide new opportunities for entrepreneurs.
4.2. Following Generations
Young people born in 2000 started entering universities. In other words, a generation that had never seen black and white television, and smartphones in the years when they started to read and write, will enter the business world a few years later. If we go a little further, there is a generation that has not seen a chalkboard and is educated with smart boards. This means different habits, different behaviors. Understanding these generations and providing appropriate solutions for them will provide new opportunities for the initiatives. For example, while publishing children's books was an opportunity in the 1990s, now it is considered an opportunity for entrepreneurs to have audio and animated tablet applications that change the story according to the child's development level.
Many new generation banks in the UK and America have examined these generations and observed that young people use applications such as Facebook, Twitter and Snapchat more easily, so they have started to put aside classical banking applications and to produce more visual social banking applications. This is the biggest proof of the importance of understanding generations in terms of entrepreneurship and business development.
4.3. Following Regulations
Regulatory decisions made by state institutions can bring many opportunities. For example, the Payment Institutions license issued by the Banking Regulation and Supervision Agency paved the way for private institutions to collect electricity, water and natural gas payments. In this way, he was able to pay the bills that were previously paid in these organizations above, even from the grocery store. In order to do this, the organizations that received this license placed their own devices in grocery stores and both enabled the grocery stores to earn extra income and started to generate income themselves. From the point of view of the customer, the customer became able to pay the electricity, water and natural gas bills from the grocery store in his neighborhood and avoided waiting in long queues. Likewise, with the Electronic Money license issued by the Banking Regulation and Supervision Agency, e-commerce sites can easily receive payments.
Developments in the energy market will enable small businesses to become entrepreneurs in solar or wind energy. For example, models such as equipping the roof of your house with energy panels and providing the electricity of your home from here, or even selling excess energy to nearby houses and earning income from there are always opportunities based on regulation.
Following the laws issued / planned by the state institutions in many areas will create many opportunities for entrepreneur candidates. For this reason, if you want to do a job in a regulated sector, you should follow such regulations.
4.4. Following Technological Developments
It is important for entrepreneurs to follow the developments in three-dimensional printer technology, artificial intelligence technologies, augmented reality technologies, nanotechnology, and to recognize the opportunities that may arise from the developments in these fields.
Before 3D printers became widespread, when a piece of furniture is broken, you can order that piece and bring it back in a month and make your furniture available again, now you can print that piece with a 3D printer and attach it to your furniture after two or three hours. Likewise, imagine that a part of an important machine in a factory is broken and things are disrupted, they will lose money because that machine in that factory is not working. In this case, you can print that part with a 3D printer and produce a temporary solution. If evaluated in terms of entrepreneurship, you can become a 3D printer operator that provides such services to businesses and individuals around you with this 3D printer.
Thanks to the powerful processors of smart phones, even very advanced games have become playable. This means a new market for many game developers. These technological advances are important enough to enable the mobile gaming market to surpass $ 70 billion in 2018.
4.4.1. Bringing Technological Developments to Problem
It is the duty of the entrepreneur to bring together the problems you observe with technological developments. For example, with smart watches that came into our lives after smartphones, millions of people voluntarily wore health devices on their wrists that actually measure heart rate (even versions that can also make heart rhythm found recently). These smart watches, which previously only showed the watch, will now start to measure the health information of the wearers. New model phones are equipped with technology that can recognize objects in front of them. Using this technology, you can even develop an eye-to-eye app for the blind. For example, a blind person can use this application to go from the left side of the road with information such as "There is a tree in front of you, there is a road on the right". You can also make games using the same technology. You can also make a simple game where you collect points as you show objects around you using purely real life. Or, you can use it as a radar and develop a guiding app that puts it on the torpedo in your car and warns on a dark country road.