Konrad Bicher, entrepreneur, philanthropist, and social media influencer thinks entrepreneurship is fashionable. Konrad’s thoughts on the future of entrepreneurship are very unconventional. Starting one’s own business is indeed the rage among the young and the restless Silicon Valley to Sao Paulo in Brazil, and from Boston to Bangalore. ever since the Great Recession of 2008, full-time jobs have become scarce and in addition, with the rise of temps and the Gig Economy (the term used to describe the freelancing and the part-time work model), most professionals are literally and figuratively “on their own”. —
Konrad thinks that it is not always the case that Entrepreneurship is easy or rewarding without much hard work or even chance and pure grit. Indeed, globally, only two to three out of ten new ventures stand a chance of success, and even among them, only a few go on to become the market leaders. Just like for every Bill Gates or Steve Jobs, there are hundreds and thousands of others who have “bitten the dust”, in the 21st Century, for every Mark Zuckerberg, countless others are either bankrupt financially or have abandoned their quest.
Mr. Bicher thinks Just because “easy money” due to Ultra Low-Interest Rates by Central Banks is finding its way into Entrepreneurship does not mean that this would continue to be the situation going forward. With the Federal Reserve in the United States “signaling” its intent to raise rates, it is by no means certain that investors would continue to pour money into startups. At the same time, with exponentially accelerating technology, the “shelf life of ideas” and products are getting ridiculously shorter and compressed meaning that what is now a hot App or Software would quickly be overtaken by the next big thing.
He expresses that the globalized world economy has indeed “shrunk” distance and anyone anywhere and everyone everywhere is essentially competing with each other. However, with rising protectionism and the threat of retreat of globalization, the future of entrepreneurship would also be local or a mix of global and local or Glocal to describe the adaptation of the global to the local so that one benefits from global trends and at the same time, do not lose sight of the purely local on the ground conditions.
“It is evident that while the future might be rocky for entrepreneurs, it is also rosy for those willing to be cutting edge and at the same time, not lose of old-fashioned values such as ethics and a steady and stable approach to business”, Konrad on the future of entrepreneurship.
In addition, with freelancing becoming the norm rather than the exception, in the future, entrepreneurs anywhere in the world need not be constrained by national boundaries and can tap into the abundant armies of freelancers around the world. Further, with mobile phones and Smartphones becoming ubiquitous, it is also the case that future entrepreneurs should combine technology with ease of use of their products so that even the layperson would benefit from this merger.
Konrad Bicher shed light over another trend that is noticeable (especially in recent months) is that startups and their founders have to ensure that they remain on the right side of regulators and do not break the rules or flout norms in their quest for market shares like the celebrated founder of the ride-hailing app, Uber who now finds himself out of his post mainly because of the “gung ho” approach which he adopted towards everything from dealing with regulators to treating his employees and especially dealing with cases of sexual harassment and discrimination.
You can find Konrad Bicher on Facebook.
Release ID: 89064888