Digital entrepreneurship is the evolution of business models that are powered by the internet. It is not tied to location and rely on laptops, smartphones and the internet, as well as other technologies to make global markets, sell products and services like e-books, and provide customers with a digital experience. Its popularity has helped make the world a much smaller place and created new business opportunities for entrepreneurs to take advantage of. It has also made it easier for traditional companies to go digital to keep their customer base and expand beyond their physical locations.
To create and sustain a successful online-powered business model, digital entrepreneurs need to utilize a variety strategies. These strategies include scalable business models as well as strategic networking and partnerships. They also require effective communication and perceptive management. The digital entrepreneur should also have a long-term perspective and the ability to navigate obstacles with a calm attitude.
Digital entrepreneurs must be able, when creating and deploying a digital artifact that is scalable, to identify an appropriate Value Proposition (VP). Typically, this involves recognizing and capitalising on disrupting value propositions that can transform business practices into digital business models or create new ones entirely. Netflix, Airbnb and Uber are just a few examples of digital entrepreneurs who have utilized this method to their advantage.
Case study research is a great method for studying digital entrepreneurship. This is because case studies allow for a contextual investigation of real world events and can aid in answering ‚What’ or ‚How?’ questions.