Tech entrepreneurs are the new face of entrepreneurship and will lead the way to an innovative future.
So, you’ve heard about entrepreneurship, and you realize that technology is essential and powers pretty much everything you do. Yet you’re still wondering, “What IS tech entrepreneurship?” and “Why should I care?”
Today, we’ll dive into what being a tech entrepreneur entails, why you should consider it, and ultimately help you determine whether it’s the path for you.
What is a tech entrepreneur?
A basic definition of a tech entrepreneur is someone who executes their ideas and strategy using technology.
Now, you’re not essential by any means, so let’s further explain this using our preferred definition introduced by Peter Thiel in Zero to One:
Tech is not merely computers and the world of bits but rather anything that improves, whether in bits or atoms.
Zero to One, the modern entrepreneur’s bible, covers tech entrepreneurship ideas succinctly, and we highly recommend adding it to your level-up bookshelf.
Think of the platforms you use and the problems they solve:
Facebook, Uber, Google, Spotify, and Apple, to name a few. Enhancing community, delivery, information, music, phones, and laptops — it’s hard to imagine life without them, now.
Tesla and AirB&B could also be considered tech companies.
The people behind these companies are disruptors, innovators, revolutionaries, and changemakers.
They capitalized on their ideas using technology.
Technology brings the future here quicker.
These tech entrepreneurs went from zero to one.
Going from 0 → 1 is technological progress, as opposed to globalization, from 1 → n.
Take a look at the below graph to visualize what that means.
0 → 1: doing something that’s never been done before; entirely new; invention (example: the iPhone (Apple) )
1 → n: doing something that has been done before; copying; globalization (example: other smartphone brands (Sony) )
Safe to say, we think technology is an industry worth looking into.
The estimated economic impact of the U.S. tech industry alone in 2020 was $2.0 trillion — representing 10.5% of the national economy.
With 585,000 tech business establishments in the U.S., that number will keep growing.
So, do you want a slice of a $2.0 trillion pie?
Where to start
Despite the tech industry sounding all exciting and adventurous, you may be wondering, “Where do I start?”
It can be overwhelming, as any entrepreneur will tell you.
Fortunately, you don’t have to do it alone.
Here at 10X Incubator, we foster a community of ambitious innovators and help you start the process of becoming a tech entrepreneur. All you need is your napkin idea.
If co-founding a tech company with Grant Cardone and Jared Yellin interests you, submit your idea at Pitch10X.com today.