The evolution of

The evolution of Entrepreneurship

Starting a business isn’t easy. It takes an incredible amount of work and perseverance, as well as the fortitude to go out on a limb.

Starting a successful business is even more difficult, requiring the vision to identify a viable market opportunity and, more often than not, a healthy amount of luck. According to the Government of Canada, on average, 98 percent of new firms survive the first year, 63 percent survive the past five years, and just 43 percent see ten years.1 There

’ s a wide range of variables that can contribute to the success or failure of new businesses. Many of the major forces, such as the health of the economy or the tax and policy environment, tend to be fairly cyclical. However, there ’ s one significant element that has improved at an accelerating rate over the past few decades and made it much easier to start a new business today: technology.

Flexibility and scale

The benefits of modern technology for new businesses can be seen most acutely in the cloud. It has leveled the playing field for enterprise technology by allowing smaller organizations to tap into software and infrastructure that would have been extremely expensive through a traditional onpremises purchase.

Something like an email server that used to require an upfront investment along with ongoing maintenance and upkeep can now be “ consumed” on an as-needed basis. Cloud capabilities have enabled a software-as-a-service delivery model that’ s perhaps the technology breakthrough for entrepreneurs since the internet.

The cloud eliminates the need to predict what your technology requirements will be months or years down the road—just adjust your subscription whenever they increase or decrease. As a result, organizations can be more agile, adjusting technology to meet changing business requirements. Another benefit is that technology shifts from a large capital expense to a manageable operational expense, simplifying cost projections in the process.

All of this has contributed to a rapid increase in cloud adoption for small and midsized businesses over a short period of time. In fact, IDC estimates that it has gone from below 20% just five years ago to roughly 75% of small companies and 95% of midsized organizations today.2

Everything as a service

Extending beyond technology, the benefits of the cloud have also primed savvy new companies to seek out services-based models across other areas of their business. The logic makes perfect sense: an “ asset light” approach to technology increases flexibility and allows you to scale more quickly with less risk of over extension. It stands to reason that those benefits could be expanded by applying the same approach to other parts of the business.

When starting a new business, entrepreneurs should think critically about the parts of their business that are central to what their company does, and which ones can potentially be “bestsourced. ” This might be commonly outsourced services such as accounting and legal, or day-today necessities such as non-core office services and comprehensive IT management.

Even the concept of the workplace itself has become less rigid. Advanced collaboration and communication technology have made it easier to work remotely without negatively impacting productivity. An entire industry has developed around the concept of shared workspaces, which provide businesses with access to a flexible work environment that is easily adjusted to fit their needs.

Solutions like this can make it far easier for new companies to grow or expand geographically without shackling themselves to long-term investments in real estate. Even if you prefer sticking to a more traditional office model, certain functions like workplace services can be easily outsourced.

New companies reap major benefits

Cloud technology and the managed professional services model are particularly beneficial for new businesses because they can reduce the number of significant investments required during a time when funding may be tight. These organizations also don

’t have to consider legacy investments in technology or real estate that may not have “ paid themselves off” yet, freeing them up to choose the approach that’ s best for their business today.

Offloading non-critical business and technology support functions to outside experts can help entrepreneurs create a leaner, more agile organization. The ability to do this from the start is one of the main reasons why there ’ s never been a better time to start a new business.

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Hijabs are often associated with female oppression in western countries, despite the truth being quite the opposite. The hijab provides women with an opportunity to feel confident and empowered while staying modest. The purpose behind Azelefa Co. is to represents cultural diversity and female empowerment, both values that are vital for building a stronger community. Azelefa has focused on emboldening young women to embrace their hijab through her platform, to bring together Muslim women from across the world to form a hijab community.

A few sentences on how you’ve used TikTok for your business and the success you’ve seen because of it:

As a small business owner, I wanted to grow and share my message and products with as many people as possible. When I first started, it was daunting to think, how can I get my story out there, but TikTok let me create funny, short, and informational videos that helped share my message with the world. I started creating videos that would actually help my audience in their day-to-day life. This let me grow my brand while also helping others see value in what I do. I did not just want to have a store to sell hijabs. I wanted to create a connection with my audience and share valuable information, information that helped people learn something new and increase their knowledge. Tiktok has helped generate more traffic to my website, convert more of this traffic into potential customers, and has allowed me to considerably increase my sales.

What was your motivation for starting your small business?

Growing up, my mom always encouraged me to be independent and to follow my passion. I believe this is one of the reasons why, since childhood, I have always had a habit of taking on challenging tasks and risks. Last year, after I turned 20, I saw a need for innovative, affordable hijabs and accessories in the market. Not only that, but I always wanted to do something special for the women that wore a hijab, that would make them feel proud and empowered to be a Muslim women. I knew firsthand, the struggles that come along with wearing a hijab, especially in Western countries, and I wanted to build not only a business, but a platform for Muslim women to feel comfortable.

What are some strategies you have found helpful when it comes to running a small business?

If you

’ re a student like me, then scheduling your day for studying and your business is the best thing you can do. Another useful strategy is to budget. This will not only make you value your hard-earned money but will also put you in a habit of saving up, which is an important life skill.

Which, if any, of the following has been the most difficult aspect in handling your small business over the past year: Marketing/Brand Strategy, Passwords/Security Passcodes, Employee Policies/Relationships with Other Employees

One of the biggest challenges I’ ve experienced over the past year running my small is managing my time effectively. I have been taking a full course load at the University of Toronto while also working a full-time job. When I first started my small business, I was alone and had to wear a lot of hats; website designer, managing inventory, writing, filming content, managing multiple social media accounts, and fulfilling customer service needs. It was extremely difficult for me to stay on top of everything. However, every day brings new challenges and new responsibilities and I love every bit of it.

What are the benefits, both in terms of marketing and resources, of having an account on TikTok?

As a small business owner of Azelefa Co., I wanted to grow and share my message and products with as many people as possible. When I first started, it was daunting to think of how I could get my story out there. TikTok let me create funny, short, and informative videos that helped me share my message with the world. I started creating videos that would help my audience in their daily lives and this helped me grow Azelefa Co. I did not just sell hijabs, I wanted to create a community where people could learn. TikTok has helped me generate more traffic to my website, convert more of this traffic into potential customers, and so far, has allowed me to considerably increase my sales. Do you have any advice for people who want to start their own business?

My advice for anyone out there, especially young people like me, is to stop thinking and just do it. It’ s as simple as that. Believe in yourself and it will work out just fine. Another piece of advice is to utilize platforms like TikTok because with your creativity and personal touch, you can reach the hearts and minds of millions.

Share some of the best and worst parts of being a small business owner!

One of the best parts about being a small business owner is that I can be my own boss. I can set my own schedule, work from anywhere I want, and always stay connected with my business.

In my opinion, the worst part about being a small business owner is that it is risky. It can either be a total success or a failure. If your business idea is not based on something that is high in demand, you can easily start losing money after a few months instead of gaining profits. To be honest, the thrill of it is what keeps me going.