The concepts of sharing economy and collaborative consumption have taken the entrepreneurial world by storm in the past few years. There are huge developments happening in this area, and the number of startups popping up under this umbrella is increasing day by day. According to this report, there are 17 billion dollar companies with 60,000 employees and $15 billion in funding in this space.
Amazing, isnâ€™t it?
As we are working in this space, our research and studies continue on this fascinating collaborative way of working. As per our analysis, the sharing economy is a strong force which can benefit different types of entities, like working professionals (read our blog article), entrepreneurs, investors, academicians, students, job-seekers and retirees.
In this blog article, we are focusing on entrepreneurs (and startups) as one of those groups which can benefit immensely from this collaborative space. Even though there is a huge increase in the number of entrepreneurs coming up with new ideas and ventures, many of them are faced with some challenges in todayâ€™s world. Letâ€™s have a look at the challenges:
Access to the RIGHT mentors: This is one of the most common challenges or dilemmas faced by every entrepreneur while setting on their journey. The right mentor can help an entrepreneur with various things during the beginning of their journey- like validating the business idea, finding the right resources, gathering all the right sources of information etc. A mentor is someone who can draw upon their experience and bring valuable insights to the mentee. But getting access to such mentors is a challenge for most of the entrepreneurs. Finding them is the toughest task to start with, and connecting with them and establishing a relationship are also not easy to accomplish.
Access to QUALITY talent: Most of the entrepreneurs start out in a bootstrapped mode unless you have heaps of cash when you start out. One of the main challenges faced by entrepreneurs or startups is access to quality talent or resources while they are bootstrapping. Quality talent with the necessary experience comes at a price which may or may not be suitable for them. So it poses a big dilemma in the minds of most of the entrepreneurs.
Access to the RIGHT funders: Most of the entrepreneurs come up with great business ideas, develop a prototype, and then are faced by the biggest challenge of funding to take their idea to next level. Funding often determines the success or failure of great innovative business ideas. But finding the right funding sources is one of the topmost challenges for any entrepreneur today.
Access to QUALITY services: There are many services which an entrepreneur might need at the setup phase, as well as during the day to day functioning of his/her venture. These can be services like Accounting, HR, Legal, or even an administrative assistant. These functions or services play a crucial role in the smooth functioning and success of every business. But having access to quality service providers for these kind of services is a headache for any entrepreneur.
Access to the RIGHT partners: This is another major challenge faced by entrepreneurs and startups these days. It is the age of collaboration in the business world. Every company is looking for opportunities to collaborate with other businesses to develop innovative products and gain market share. But it is very difficult for entrepreneurs and startups to identify the right partners for collaboration in todayâ€™s scenario.
So how can the sharing economy become a blessing for entrepreneurs/ startups to address all these challenges?
First letâ€™s understand what the sharing economy is.
According to Investopedia, It is an economic model in which individuals are able to borrow or rent assets owned by someone else. The sharing economy model is most likely to be used when the price of a particular asset is high and the asset is not fully utilized all the time.
The sharing economy can help entrepreneurs by:
Providing avenues to find the RIGHT mentors for them. Once the right mentors are available, it is much easier to connect with them and acquire their advice. These mentors can make a lot of things easier and smooth for entrepreneurs. They can come from diverse backgrounds with vast experience, and they will be more than happy to help businesses.
Providing avenues to find the RIGHT talent for them. In the sharing economy, it is much easier to find talent who are experts in their area available for consulting. These talented folks will be the right candidates who can engage with your startup and provide the necessary value at the right time. And they might prove economical compared to hiring a full-time resource on your payroll.
Providing avenues to find the RIGHT funders for them. It is much easier to find the right funding source for your venture with the sharing economy. Funders who are looking for the right product ideas to invest in can be easily identified. This simplifies the entire process of getting investment for entrepreneurs.
Providing access to the RIGHT services at the right time. Finding the right service providers, whenever needed, is much easier now. These are talented folks who possess the right talent for handling your requirements. So now it is easier to get those services at much economical manner.
Providing access to the RIGHT partners for collaboration. With the sharing economy, it is much easier for entrepreneurs or startups to discover partners for collaboration from across the globe. This will help them bring out their innovation as easily as possible.
So as an entrepreneur or a startup, you must be feeling optimistic to see the benefits which the sharing economy brings to you. But, you must also be curious about where to find all the above-mentioned solutions for your challenges.
We present to you our new startup, QuantumFly, worldâ€™s 1st specialized knowledge sourcing platform for talent across the globe. One can leverage their knowledge at QuantumFly using 8 distinct offerings- Consulting, Coaching, Training, Resourcing, Speaking, Researching, Publishing and Innovating.
QuantumFly will allow entrepreneurs to leverage their knowledge, as well as find right mentors, funders, talent, service providers and much more. Exciting, isnâ€™t it?
Please visit www.quantumfly.com and learn more about the exciting journey ahead. We will be coming to your laptop, desktop, smartphones, and tablets soon. Meanwhile follow us on Twitter, Facebook, Slide Share, LinkedIn, Google Plus and even this blog.