On the face of it, the answer appears obvious: successful businesspeople create new jobs and successful business enterprises to create new jobs. But this simple explanation fails to take into account one of the primary advantages of being a successful entrepreneur. Economists call these business-start-ups business entrepreneurs for a reason, namely to differentiate these people from those who just start companies for the sake of earning more money. The fact that they are responsible for creating new jobs is an additional advantage.
Business entrepreneurs do something that others cannot do, perhaps because they are too focused on maximising income and not spending that capital where it can be far better spent. Entrepreneurs create new jobs by fostering innovation and business development. They seek out new techniques, new ways of doing things, and investigate novel concepts to build up businesses that will help solve people’s problems. Entrepreneurs have a vision, and they go out to find that particular niche that can address those needs. They also search out new customers and clients and strive to provide the best services possible to them.
The “creative destruction” of capitalism means that, as a result of free markets and entrepreneurial activity, new businesses have been built to meet people’s new demands, which means more jobs in more sectors. Not all of these new businesses will succeed, but many of them will thrive, creating wealth for all society. This process can only be good for economic growth, which requires investment and growth in infrastructure, research and technology, and the creation of new businesses.
However, the “creative destruction” cycle of entrepreneurship may be damaging to some existing businesses. Entrepreneurial activity is often characterized by rapid innovation. One of the most innovative businesses was the Apple company, which created the iPod, iPad, and iPhone. In a relatively short period of time, the company was able to introduce one of the most revolutionary products in recent history. Because the government was willing to give away millions of dollars in tax incentives to encourage the creation of such a ground-breaking product, it is not surprising that a lot of entrepreneurs are trying to use new technologies to come up with newer, better products.
Unfortunately, too many small business owners are using social media tools, such as Facebook, Twitter, YouTube, and MySpace, in a way that is both inappropriate and irresponsible. Social media is quickly becoming the dominant mode of communication for people of all ages. Entrepreneurs are wise to the fact that social media sites such as these may also be a place where they can alienate their customers by “preaching” their brand, when in all reality, these are places where people come to socialize. As such, many small businesses are either completely unaware that they have an obligation to behave appropriately on these sites, or they simply don’t know how.
There are several problems with the way that many small businesses act when it comes to social networking. Entrepreneurs often get caught up in the excitement of participating in such sites, and they lose sight of the fact that they have a responsibility to maintain appropriate conduct. By routinely posting messages on their pages that are offensive to various groups of people, as well as posting messages that include profanity or other types of messages that can be considered harmful to other members of their community, small businesses might be taking their communities for granted. Instead of viewing these websites as a means of promoting their own business, they could be seeing them as an opportunity to offend others.
Perhaps even more startling than the possibility that some entrepreneurs are making the wrong moves is the realization that their competitors are doing so as well. This situation has become so common that many small businesses are working hard to stop their competitors from being the innovators that they are. The idea is not to prevent the other person from becoming an entrepreneur, but to keep them from becoming so far ahead that they destroy all of the small business opportunities available to the rest of us. Many small businesses work hard to create products and services that are superior in quality to those offered by their competitors. If they were to post something offensive on their site, or if they began posting messages that could be considered discriminatory towards any group of people, then their competitors would quickly move in to fill that space.
In summary, entrepreneurs must understand that there are certain rules that they should follow when they are interacting on the Internet. The first rule that entrepreneurs should follow is to avoid putting any sort of information on their business website that is not directly related to the business itself. Additionally, entrepreneurs should also refrain from participating in online forums if their only purpose is to engage in name-calling or other types of behavior that could negatively affect the reputation of a small business. Finally, entrepreneurs need to be careful about what they say on their business blog if they want to maintain a good reputation among their customers. Sometimes it is better to keep quiet and let the comments speak for themselves.