Be An Entrepreneur In A Revolutionary Way!

Start your first business!

Do you wish to achieve financial freedom? Do you want to live your dream? Do you want to build a legacy that can pass on to your future generations? All of the above can be easily achieved if you are a successful entrepreneur. The best way to become an entrepreneur is to jump into the water, get your feet wet and start a business. Some things in life you can only learn by experience and entrepreneurship is a constant state of discovery.

Starting your first business by yourself is tough and challenging. The economy is constantly changing and to a certain extent getting too complex to understand or exploit. It is easier if you can start a business with friends as your business partners to share your business tasks and capitalize the skills of each partner. Taking this notion further, would it be even more effortless if you can start and run a business with an online community of aspiring entrepreneurs?

Entrepreneurship through large scale collaboration

How is it possible for an online community to run a business? With the advent of the internet, billions of individuals can stay connected, access to a wide range of information and has been actively participate in wealth creation, innovation and social development in ways previously unimagined. These individuals have already join forces in large scale collaboration projects such as Wikipedia, Innocentive and Myfootballclub. Web 2.0 technologies have greatly enhanced web-based communication to the point of superseding traditional business collaboration. An online community has the collaborative tools and resources to manage businesses as well as any corporations. A business platform with social networking capabilities can facilitate online community and staff to communicate. Collective decisions can be made through forums and internet voting. A reliable operation team can carry out decisions collectively made by the online community and update daily business activities through blogs and twitters. Progressively, entrepreneurs will know how their collective decisions shaped the businesses.

There are numerous advantages of starting, owning and managing a business entity with an online community. If a 10,000-strong online community were to start a business together and contribute $100, the startup can successfully raise $1 million dollars. With a huge startup capital, you will own a business entity that is capable of entering into high-yielding ventures that are generally monopolized by rich, high net-worth individuals and institutions. Instead of venturing into one business, the business entity can venture into 10 or more business ventures. You will gain explicit business knowledge and skills of specific industries, making you better equipped to start a business of your own. Through the online community, you can interact with other like-minded individuals and possibly find future business partners for your own business venture.

Individual rewards and opportunities

Total collectivism is unsustainable in the long run. A right mix of collectivism and individualism must exist in the online community. There must be proper incentives to avoid mass mediocrity. Individual success and personal financial gains are some of the key factors that draw a person to become an entrepreneur. A reward system based on the level of participation of each individual member of the community is essential. Individuals are rewarded with points for contributing business ideas, participating in discussions, polls and other online activities. Once the business ventures created by community become sustainable, individual members of the community can use points to bid for franchises and business takeovers at reasonable rates. Profits collected from the sales of businesses and royalties from franchises can be distributed back to its members or start new businesses. The process can be repeated and entrepreneurs of the community can learn to manage different business trades in different countries offering wide range of business opportunities.

A global project to facilitate individuals of an online community to own and manage a business entity over the internet based on the success of mass collaboration is highly feasible. Business risks are diversified and adequate startup capital can be raised. Entrepreneurs can participate in more business ventures, experiment with business ideas and fail cheaply. The lessons learnt and experiences gained from managing businesses through the internet will be invaluable when an individual undertake the challenging route of entrepreneurship.