Factors Influencing Entrepreneurship

How to Make Money Online in Pakistan
October 3, 2022
Factors Influencing Entrepreneurship

Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more information

Wondering what are some of the factors influencing entrepreneurship? If so, welcome to Internet of Business. I am glad you have made it here. Entrepreneurship is unlike having a job in that you don’t have a guaranteed paycheck. One of the smartest things you can do is to get involved in digital entrepreneurship. Digital entrepreneurs created products or services that can be sold over and over again once created.

Of course, we were not these types of methods to generate income. Naturally, most people lean toward finding a job instead. Let’s face it, entrepreneurship takes innovation and your willingness to solve a problem within the marketplace. My objective was always to create solutions to problems that I found online. I have been blogging since 2011 and founded my first blog in the same year called rundreamachieve.com.

One of the biggest factors influencing entrepreneurship for me was knowing the paycheck wasn’t enough. Forbes magazines recently wrote an article where they stated that 78 percent of the American population live paycheck to paycheck. Why is this? Well, it is a flawed strategy where we have been taught to rely on one source of income.

What factors influence entrepreneurship?

There are many factors influencing entrepreneurship for new and veteran bloggers and online creators. One of the biggest is time and income. Of course, you can still work a full time or part-time job and still work on your online business. Blogging is one of the best ways to start earning supplemental income online. That being said, there are many other ways to start earning additional income.

There are people earning full-time incomes making YouTube videos. Have you considered starting your own YouTube channel? If so, I strongly suggest you do. Of course, this takes time and you need at least 1,000 subscribers and 4,000 hours of watch time to get your channel monetized. Everyone wants passive income. The problem is most miscalculate the amount of time needed in order to make it a reality.

LEARN MORE ABOUT THE 6-FIGURE BLOGGER COURSE

What are the strategies of entrepreneurship?

Be consistent in your content creation if you choose to be a digital entrepreneur. It will take time to build your brand online. Take each day and build one new form of content. It can be a blog post or the first chapter of your online course. Remember, there are people around the world who have some form of a problem that bothers them. Find a way to provide a solution to that problem and have them pay you for it.

First, make sure you focus is on them and not yourself. The majority of people have their mindset wrong. They want to know what is it in it for them. How much money can they make each month. You have to first focus on what your potential customer wants first. How can you help them to get what they want? Worry about that first and the rest will take care of itself.

There are tools I am mentioning in this post that can drastically help you speed up your learning curve. So, use them and bypass the mistakes that many new and veteran online content creators make. Consistent content creation is vital to succeed. You may also consider starting an home based business. There are major companies that already have products that people want. For example, Herbalife. Why not join a company and share their products?

Of course, this is just one of many ways you can start earning additional income. Yes, it will take work but the end goal is to build passive income. Income that is not dependent on you having to show up and warm a seat somewhere for 8 to 16 hours a day. You want to free up indentured time so you can do the things you truly want to do. Time is one of many factors influencing entrepreneurship. So, starting a blog and building products to add to it is one way of freeing up indentured time.

What are entrepreneurship factors influencing entrepreneurship growth?

Money is one of the biggest. There are many ways to become an entrepreneur. There are many people who choose to create brick and mortar businesses. Of course, this is one way to generate income. That being said, it comes with many other responsibilities. You have to hire employees, lease our a building, buy supplies and pay utility bills to name only a new. You can lessen your headaches by becoming a digital entrepreneur.

One way you can start earning income with a blog or website is to create a course. Do you have as specific topic you know well? Why not create a course using a platform called Podia? The beauty of making courses is once it is made you can continue to make sales for years to come. I use podia for all of my online courses and will begin creating them here at Internet of Business too.

Podia also let you create your own website, make webinars and membership sites. In addition, you can start building your e-mail list and e-mail your subscribers right from Podia. It is one major resource I regularly recommend to my readers here at Internet of Business.

Learn more about Podia

Which are three main factors which may affect on entrepreneurship growth?

I think the biggest of the three are time, funding and commitment. The vast majority of solopreneurs are working full-time or part-time jobs. So, the amount of time people can devote to building an online business is limited. That being said, don’t let that discourage you. There are still plenty of hours in the day to get started.

Do you have a website or blog yet? If not, the best place to buy yours is Siteground. I house all of my websites here. In addition, host them there as well. You can buy your own website domain for only $17.99 USD (or the equivalent in your countries currency). Siteground will also help you to upload WordPress onto the domain that you buy.

Hosting is very important. The reason is if your website ever does not work properly you want to reach out to Siteground customer support. They have a 24-7 support line so you can always get a hold of them.

Learn More about Siteground

LEARN MORE ABOUT KWFINDER

What are barriers of entrepreneurship?

The biggest for most is simply not knowing where to start. The first recommendation I can provide is to buy a domain. You want to start building your brand and content now. A major mistake many new bloggers make is writing blog posts about anything that comes to mind. You want to do your keyword research. The reason being is you want to find keywords that your potential customers are already typing into the search engines.

I use a platform called KWFinder to do this. KWFinder helps me to find keywords that have low competition but high search volume. You will most certainly want to use KWFinder if you have a new blog. A new blog takes longer to rank blog posts. The reason being is there are no backlinks pointing to it. A backlink is sort of like a vote of confidence another website has given to you. They point their website to yours which makes your blog or website stronger.

So, it is important when first starting off to be consistent with your content creation. Content creation as well as product creation takes time and patience. The problem is most people get impatient when first starting out and get discouraged. Don’t do that. Stay focused and use the tools that I am mentioning in this post and your chances of success will rise.

Closing Thoughts

I would also consider investing in a course that another successful blogger has made. The two I invested in are Pinterest Traffic Avalanche and the 6-Figure Blogger courses. Both were created by Lauren and Alex of the CreateandGo blog. They make over 6-figures per month with their two blogs. Of course, they didn’t just starting making money overnight. They, too, experienced the setbacks and trials we all face on this journey.

That being said, they teach you how to speed up your progress in these courses. Pinterest is one of the world’s largest search engines. In addition, it is also a place where people go to buy products. So, Pinterest Traffic Avalanche is certainly a course you may want to consider to help build your brand.

6 Figure blogger is a course that walks you through how to grow your blog and start earning additional income. Again, it takes patience but there are so many ways to build revenue. As mentioned above, you can use Podia to start building your courses. You can use the tools mentioned in this post to help speed up your progress. Yes, there are factors influencing entrepreneurship but you now know a few ways to bypass the mistakes other new bloggers are making.

LEARN MORE ABOUT THE PINTEREST TRAFFIC AVALANCHE COURSE
The following two tabs change content below.
Nathan is a 2:19 marathoner, former member of the US Army World Class Athlete Program and Doctoral of Business Administration (DBA) Candidate at the University of Missouri-St. Louis. He brings over 10 years of online entrepreneurial experience in helping people learn how to blog, earn income online and build passive income streams outside of what the school system teaches.

Latest posts by Nathan Pennington, MBA (see all)