Hi readers, welcome to my sixth blog about Entrepreneurship and Networks!
For this week’s assignment, we had to come up with an appropriate innovation for entrepreneurs. When I read this, I immediately thought of one of the biggest adopted innovations among big businesses: social media. I think that as for the maturity of the diffusion of social media in terms of Rogers (2003) – who wrote a book about innovation diffusion – social media has a very high diffusion in my opinion. Not only just among people in the society, but also among businesses who use it for their advantage. Social media counts in my opinion mainly as a service innovation, which businesses use to advertise their products/services (think of Facebook, Instagram, Youtube), but also to get in touch with people (think of Facebook again, LinkedIn, Google+) in order to expand their network and potentially their social capital. As I said, one thing that is for certain is that big enterprises use social media, but what about smaller businesses and beginning entrepreneurs? Do they use it as well?
In order to find this out, I interviewed 3 entrepreneurs, each with small retail businesses: a relative of my family who owns her own small flower stall in Amstelveen, a former class mate of mine who co-owns a small jewelry and must-haves store, and a former teammate of mine, who just recently opened his own surf shop in Sneek.
As for the florist, she recently started using Facebook and Google+ for her business purposes. I consider her among the late majority who is using social media for their business. She told me that she never actually thought of it as a means of, for example, advertising, which she now uses it for. As for the other 2 entrepreneurs, they started using social media for their business purposes. My former class mate mainly uses Facebook and Instagram to promote her wares and my former teammate mainly uses Facebook and Youtube, where he regularly posts videos to draw attention for surfing and his shop in particular. I think the both of them can be considered as early adopters, since they weren’t the first ones to use it, because their businesses aren’t that old, but they immediately started using it when they started their business.
I hope you’ve enjoyed reading my blog and hopefully you will read my next week’s blog as well! 🙂