What is technopreneurship? opportunities by the presentation of 2.

FACEBOOK
commercial products and services.”
 is a blend of the two words  created by Mark Zuckerberg an
‘technology’ and ‘entrepreneurship’ excellent technical coder who began
doing technical work in high school.
 entrepreneurship in the field of  Technopreneurs either upgrade an
technology. existing idea or develop products or  When Zuckerberg and his associates
services that use technical solutions were at Harvard University, they
 The term originated in the 1990s to to bring about a significant change in founded Facebook.
define entrepreneurs who start and the field of business. It is therefore
manage their own technological an innovation on its own that  Originally known as "Thefacebook,"
businesses. positively affects generations to the platform started as a social
come. networking site exclusively for
 It is a process that combines
Harvard students
technological advancements with
Examples of Technopreneurs
entrepreneurial skills
1. UBER 3. TIKTOK
 Technopreneurs offer products or
services that are technical in  Uber Technologies Inc. is a mobile
nature. platform that enables its vast
network and technology to move  TikTok, originally launched as Douyin
people and commodities from one in China in 2016,
Technology- Knowledge on the means location to another.
 gained internationalpopularity after
of methods of producing tools, goods
 In addition, Uber is also a delivery its global release in 2018.
and services.
company that provides food,
 The platform's short-form videos
Entrepreneurship- the activity of setting groceries, and other delivery services.
up a business or businesses, taking on  Privacy and security concerns
financial risks in the hope of profit.  Travis Kalanick, the founder and
emerged in 2020, prompting
former CEO of Uber, who found
According to industry experts, discussions about potential bans or
inspiration when one day he became
technopreneurship “comprises sales in certain countries.
late for office as his car had broken
identifying modern technologies and down in the middle of the road.
even creation of technological
How to Become a Successful 5. Develop a Prototype or Minimum 10. Adaptability and Continuous
Technopreneur Viable Product (MVP): Improvement:

Here are steps you can take to embark  Use the prototype to gather  Be prepared to adapt to changing
on the path to technopreneurial success: feedback from potential users or circumstances
stakeholders and make necessary
11. Manage Risks:
improvements.
1. Identify a Niche or Problem:  Identify potential risks and develop
6. Focus on User Experience:
strategies to mitigate them.
 Choose a specific area or industry
 Ensure that your product or service
where technology can address a 12. Scale and Expand:
is user-friendly and meets the needs
problem or fulfill a need.
of your target audience.  Explore opportunities to expand into
2. Acquire Technical Skills: new markets or offer additional
7. Networking and Collaboration:
products/services.
 Develop or enhance your technical
 Build a strong network within the
skills in areas such as programming,
technology and entrepreneurial
software development, data science
communities. What is a startup?
3. Build a Strong Foundation:
8. Seek Funding:
 refers to a company in the first
 Educate yourself on business stages of operations.
 Explore various funding options,
fundamentals, including marketing,
such as angel investors, venture
finance, and operations.  founded by one or more
capitalists, crowdfunding, or
entrepreneurs
4. Create a Business Plan: government grants.
 These companies generally start
 Define your short-term and long-term 9. Market Your Innovation:
with high costs and limited revenue,
goals and outline the steps to which is why they look for capital
 Develop a strong marketing strategy
achieve them. from a variety of sources such as
to promote your product or service.
venture capitalists.
STRATEGIES FOR STARTUP 12. Legal and Regulatory Compliance:

7. Customer Validation:  Ensure that your startup

complies with all necessary
1. Identify a Problem to Solve:  Engage with potential customers
regulations to avoid legal issues
early on. Understanding your
 Start by identifying a genuine in the future.
customers' needs is critical for
problem or need in the market. product-market fit. 13. Adaptability and Resilience:
2. Market Research: 8. Scalability:  Be prepared to adapt to changing
 Conduct thorough market research circumstances.
 Design your product and business
to understand your target audience, model with scalability in mind. 14. Measure Key Metrics:
competitors, and market trends.
9. Funding Strategy:  Define and monitor key performance
3. Unique Value Proposition (UVP): indicators (KPIs) relevant to your
 Determine your funding needs and
 What sets your product or service business. This data will help you
explore various funding sources.
apart from others? make informed decisions and track
Develop a clear financial plan.
your startup's progress.
4. Build a Strong Team: 10. Marketing and Branding:
15. Customer Service Excellence:
 Assemble a team with diverse skills  Utilize digital marketing, social
 Provide exceptional customer
that complement each other. media, and content marketing to
service.
5. Minimum Viable Product (MVP): create awareness and build your
brand.
 Develop a minimum viable product –
11. Network and Partnerships:
a simplified version of your product
that includes essential features.  Partnerships, collaborations, and
6. Iterative Development: mentorship can provide valuable
support, guidance, and potential
 Continuously gather feedback, business opportunities.
iterate on your product and release

updates.
CHAPTER 2: Market identification and 2. Define your target market: MARKET ANAYLISIS
analysis
Who are the people who would most 1.Competition:
benefit from your value proposition?
Analyze existing competitors and
Market identification Consider factors such as demographics, potential ones who might emerge.
psychographics, and behavioral Evaluate their strengths, weaknesses,
 is a crucial step in
characteristics. and market share. Identify competitive
technopreneurship
gaps your venture can exploit.
3. Segment your target market:
 it helps you understand your
2. Industry Trends:
potential customers, their needs, and Further, divide your target market into
how your product or service can smaller groups with distinct needs and Analyze growth patterns,
address them. preferences. This will help you develop technologicaladvancements, and
more targeted marketing and sales regulatory changes. Identify
 It involves defining the specific strategies. opportunities and potential threats.
group of people who would benefit
most from what you have to offer 4. Analyze your target market 3. Customer Needs and Behavior:
and tailoring your business strategy
Research your target market to Use surveys, interviews, and focus
accordingly.
understand their needs, buying behavior, groups to gather qualitative and
and pain points. quantitative data.

Here are the key steps involved in 5. Validate your market: 4. Market Barriers:
market identification for
Test your assumptions about your
technopreneurs:
target market with real people. This
could involve conducting surveys, Identify potential challenges you might
1.Identify your value proposition:
interviews, or focus groups.5 face, such as regulatory hurdles, lack of
What unique value does your product or awareness, or resistance to change.
service offer? Develop strategies to mitigate these
barriers.
What problem does it solve or what
need does it fulfill?
What Is a Sales and Marketing Strategy?  A thorough marketing strategy product, or something else?)
covers the
 Your Sales and Marketing strategy is 5. People – Who is your target
your plan for reaching, engaging, and Five Ps of marketing: product, price, audience? What drives them?
converting target prospects into place, promotion, and People.
profitable customers.
What Do the Four Ps Mean in a
Why are marketing strategies important?
 It’s the charter that guides Marketing Strategy?
Marketing and Sales in their daily  A marketing strategy requires you to
The four Ps are product, price,
activities, helping them clarify shared carefully plan what you want to
promotion, and place. These are the key
objectives and how to achieve them. accomplish.
factors that are involved in themarketing
of a good or service.  Documenting the strategy you’ll use,
the objectives you’re working toward,
What Is a Marketing Strategy? The four Ps can be used when planning
and the metrics you’ll use to
a new business venture, evaluating an
measure progress can increase your
existing offer, or trying to optimize sales
chances of success.
with a target audience. It also can be
 A marketing strategy refers to a
used to test a current marketing  65% of the most successful
business’s overall game plan to
strategy on a new audience. marketers reported beginning their
facilitate the buying and selling of its
products or services. campaigns with a documented
strategy. On the other hand, only 14%
 A marketing strategy determines 1. Product – What you’re trying to sell of the least successful marketers
how to reach prospective consumers had a documented strategy.
and turn them into customers. 2. Price – Profit margins, marketing
budget, etc.  Building a concrete strategy can help
 It contains the company’s value bring your team together and
proposition, key brand messaging, 3. Place – What channels or platforms
improve communication.
data on target customer will you use?
demographics, and other high-level  Everyone on the marketing team
4. Promotion – What are you trying to
elements. has a clear understanding of
achieve? (Are you hoping to build
business goals, the metrics used to
your social media presence, increase
measure their online marketing
brand perception, promote a new
 success, and the strategy they’ll use  The content aims to provide 4. Email marketing
to get there. Working toward a potential customers with answers
Email marketing involves the careful
common endpoint ensures they and information so they view the
cultivation of email lists based on
remain on task. business as a valued resource.
consumer interests.
 It also creates better accountability 2. Inbound marketing
within the team, as each team
 With inbound marketing, brands
member knows what’s expected of 5. Paid media advertising
focus less on pushing advertising
them.
out in front of customers and more With paid media advertising, brands pay
 The plan can help your team know on producing high-quality material to promote their organization on
the types of content they want to that will naturally attract customers different platforms.
create for the different platforms interested in researching and then
involved in the campaign. Altogether, buying within the business’s sector. Paid advertising can also retarget
documented, well-strategized customers who have visited the brand
 It comprises a core marketing tactic page in the past.
marketing campaignsbbecome more
for digital marketing. The focus of
cohesive, successful endeavors. This digital marketing strategy also
inbound marketing lies in attracting
the attention of customers rather involves landing pages. When a
than interrupting them as they customer clicks on an ad, they should
6 main marketing strategy types navigate social media, television, or find themselves on a site that directly
other common marketing channels. answers their needs.

3. Social media marketing

1. Content Marketing
A sales strategy is a set of decisions,
 With social media marketing, brands
 Content marketing describes the actions, and goals that inform how your
might promote themselves across
brand strategy of creating content sales team positions theorganization
social media platforms like
that customers will turn to and trust and its products to close new
Facebook, Instagram, and Twitter.
as they seek more information about customers. It acts as a guide for sales
The goal is to build online
a particular industry or solve a reps to follow,
communities around their
particular pain point.
businessesb while also creating
 paid ads that encourage new people
Why is a sales strategy important team make the most of every sales Through sharing customer stories your
opportunity. prospects can relate to.
 A clear sales strategy serves as a
map for the growth of your business. 4. Improve resource allocation. 3.Leverage social proof in your sales
materials.
 Your sales strategy is key to future In turn, this can help your sales team
planning, problem-solving, goal- use their time, effort, and resources Don’t forget to include social proof in
setting, and management. efficiently. This efficiency can boost your sales materials.
your team's ability to focus on high-
4.Optimize your personal social media
potential deals.
accounts.
An effective sales strategy can help
you: Optimize your own social media
Sales Strategies accounts to support your selling efforts.

5.Use social media when prospecting.

1. Give your team direction and focus.
Strategic clarity can help your sales 1. Increase online sales through social Social media can be a powerful tool for
reps and managers understand media. prospecting and connecting with new
which goals and activities to contacts, especially for those working in
prioritize. This can lead to improved Increase online sales through social B2B sales. (Business-to-business)
productivity and outcomes. media.
Increase online sales through social
2. Ensure consistent messaging. Your 1.Identify the most-used platforms for media.
sales strategy can help your team your ideal customer
1.Track relevant metrics.
deliver a consistent message to You should have a well-thought-out ideal
prospects, partners, and customers. customer profile. 2.Add social listening to your operating
This can increase both trust and rhythm.
effectiveness. 2.Share customer stories with
marketing. Understand how your customers really
3. Optimize opportunities. Strong feel about your product and company.
sales strategies will help you target The best way to incorporate the word-of
-mouth approach into your sales 3.Conduct competitive analysis.2l
the right prospects and customize
myyour approach. This can help your strategy?
  Become a thought leader. marketing.

Prioritize inbound sales calls as hot

leads.
What is Thought Leadership?

 refers to “intellectual influence and

innovative or pioneering thinking,” – Inbound sales calls are initiated by
according to the Oxford Dictionary. interested, potential customers with a
question about your brand's
 In 1994, Joel Kurtzman, editor-in- products/services
chief of Strategy & Business
magazine, stated, “A thought leader
is recognized by peers, customers,
and industry experts as someone
who deeply understands the
business they are in, the needs of
their customers, and the broader
marketplace in which they operate.
They have distinctively original ideas,
unique points of view, and new
insights.”

Become a thought leader.

According to the study, 61% of decision-

makers said thought leadership could
be moderately or very effective at
demonstrating the value of a
company’s products compared to
traditional product