The way we live our lives, how we entertain ourselves, and how we communicate has changed tremendously in the last few years. Thanks to technology, we’re able to accomplish things we couldn’t dream of 10 years ago. The pace of change has picked up in recent years, but it’s about to hit an entirely new level. Entrepreneurs are playing a huge role in ushering in this new wave of transformation, and they’re the driving force behind it. The following are four ways entrepreneurs are bringing the new wave of transformation.

Technology

The possibilities of technology in today’s society never cease to amaze. For decades, new advances have come out on a seemingly yearly basis that change how we interact with computers, our surroundings and each other. The tech industry is where you can find some of today’s most innovative ideas and there’s no sign it will slow down anytime soon. If you feel like an entrepreneur with a knack for tinkering or designing then technology might be your niche.

Data Driven Marketing

Take a data-driven approach to all aspects of your marketing, from initial research and discovery to building customer profiles, planning social media strategies, setting up A/B tests and more. It’s also important to make sure you have a strategy in place for sharing your data with others within your organization, whether that’s once a week or once a month.

Marketplaces

With more and more small businesses flocking to e-commerce sites like Amazon and eBay, marketplaces have emerged as an exciting way for small businesses to reach larger audiences. Marketplaces allow individuals to offer products in a single online storefront, so you don’t have to build your own store front from scratch. Some examples of marketplaces include: Etsy, Handmade at Amazon, Stitch Fix or ThredUP.

Collaborative Economy

The rapid acceleration in technology is changing our lives, businesses and industries. One recent innovation is collaborative economy (also known as sharing economy). Here are  ways in which entrepreneurs can capitalize on it to bring about a higher degree of efficiency and cost-effectiveness 

1. Use technology to create shared assets that generate value: Examples include Airbnb and RelayRides. In both cases, assets like real estate or cars have been used for rental purposes. 

2. Provide marketplaces for exchange: In Uber’s case, we have an example of how transportation service providers and customers connect with each other using a mobile app interface over the Internet rather than going through traditional means such as newspaper ads or taxi dispatch