Jay Maharjan

Not everybody is destined to be an entrepreneur. Being an entrepreneur is not a get rich quick type of scheme. Rudyard Kipling’s poem ‘if’ defines the mentality that an entrepreneur needs to have.

If you can dream – and not make dreams your master,
If you can meet with triumph and disaster
And treat those two imposters just the same
If you can make one heap of all your winnings
And risk it on one turn of pitch -and-toss,
And lose, and start again at your beginnings
And never breathe a word about your loss
Yours is the earth and everything that’s in it

No college degree or past accomplishment prepares you for the challenges that you will face for your next venture. Odds are obviously better if you have gone through a good business school and have some past entrepreneurial experience. Good entrepreneurs play smart and know when to quit and start all over again without hesitation..

In conceptual generation, entrepreneurs have endless opportunities. Smart entrepreneurs will try different options and leverage on emerging tools and move on quickly to the venture that yields the best results in a shortest turn around time. With the availability of custom software at your disposal (without having to learn a single line of codes) to the creative resources that you can acquire at $10 -$15 per hour through websites like elance.com, creating a workable prototype will be easier. Now, on your first presentation to a venture capitalist, you can actually take a working demo instead of a boring power point presentation that virtually everybody else uses.

The breakthroughs are not only in the areas of software, but also in other areas such as entertainment, sports, bio technology, green technology and nano technology. Nano technology is the future of science that will revolutionize the way materials will be produced and manufactured. As the foundation of the technology is based on molecular level production, one can only imagine how it will impact the processes, design and the overall economy. Less production costs will result in lower operation costs, and that will translate into lower costs for manufacturing – which will ultimately contribute conceptual entrepreneurs with lower barriers to entry in terms of start-up costs. I have summarized all these new revolutionizing technologies in my upcoming book.

Entertainment is another big arena that will benefit heavily from the innovation that will take place in the conceptual age. With the advent of high resolution digital cameras and inexpensive film editing software, a High school student can now do endless tricks with Final Cut Pro on his iMac, something that would have taken a team of experts in a larger production house 20 years ago.

Case in point, 4entrepreneur.net is producing an original television series for entrepreneurs. The shows are currently being aired on several Los Angeles stations. The shows are being taped in 3 high tech studios in Los Angeles, but majority of the team that is helping me put together is a group of film school students – the true conceptual entrepreneurs. I was skeptical in the beginning, but after successfully wraping up 20 shows and counting, I wouldn’t trade them for anybody. They are the future of movie making – indie filmmakers of tomorrow!

In a larger scale, as digital security increases and the measures to tighten piracy matures, digital distribution of video content is going to improve drastically in coming days.

Green technology is not just another buzz word. The United States is in the dire straits to come up with a solution to move away from energy dependence on foreign oil. There is no time to wait and test different means. It is critical to implement one and all measures ranging from wind, solar, geothermal to drilling aggressively. All of these measures will create opportunities for conceptual entrepreneurs.

Regardless of abundance in various opportunities, the challenges are not going to be menial. It is important for conceptual entrepreneurs not to fall in the clichéd mindset that new opportunities will bring easy money. A different set of opportunities will emerge but the principle of entrepreneurship will remain the same.

Tags: How will the conceptual entrepreneurship look like?