Hi Tech Entrepreneurship Research 2022

Running Head: HI TECH ENTREPRENEURSHIP
Hi Tech Entrepreneurship
Name of the Student:
Name of the University:
Author Note:

HI TECH ENTREPRENEURSHIP1
Table of Contents
Introduction to the Business Idea:...................................................................................................2
Nature of the Hi tech Entrepreneurs................................................................................................2
Key strategies of the Business idea.................................................................................................3
 Target Market.......................................................................................................................3
 The Niche Ideas within the Business of Social Media Consulting.......................................4
 Assessment of the level of competition in the market..........................................................4
 Analysis of the popular brands in the social media industry................................................4
Resources and Commercialization plan...........................................................................................5
 Insurance Policies.................................................................................................................5
 Finances to bring the concept to the market.........................................................................5
Skills and competencies in relation to the Hi tech Entrepreneur.....................................................6
Analysis of the Skill Gaps...............................................................................................................7
Strategies to improve the plan.........................................................................................................7
Summary..........................................................................................................................................8
References........................................................................................................................................9

HI TECH ENTREPRENEURSHIP2
Introduction to the Business Idea:
The Hi tech Business Idea on which I will write the commercialization strategy is about
social media consulting. I have chosen social media consulting as the hi tech idea because social
media consultants can create their own presence in the social media that will provide the most
excellent for the consulting business of social media. The research in this field has also
highlighted the potential benefits of the innovation strategies that will require the effective form
of the process of commercialization (Sashi 2018).
In the field of social media consulting the commercialization process can often be
complex and can pose a challenge for the small technology units. This is because the
requirements of the customers keep on changing at a fast rate where the small firms of the
technology will specialize in the production rate of the products that will be characterized by
high technology that should match or exceed the given pace of the major changes in order to
maintain the required level of competitiveness (Binnui and Cowling 2016).Partly because of
these factors the commercialization of the social media consulting hi tech firm will show the
increasing utilization of the external competencies and the level of knowledge that will be
assessed through the innovation related networking base that will helpful to accelerate the level
of commercialization of the social media consulting firm (von Platen 2016).
Nature of the Hi tech Entrepreneurs
The nature of the hi tech entrepreneurs in the field of the social media consulting are
characterized by high growth with the high level of impacts that they exercise in the market
scenario. The high tech entrepreneurship in the field of social media consulting is characterized
by the need for speed, the different innovation led enterprises that will require the substantial

HI TECH ENTREPRENEURSHIP3
level of expertise, the level of capital and the presence of talent in their early cycle of life. Like
the entrepreneurs of other sectors the hi tech entrepreneurs will need to find the right amount of
the resources in order to feed their growing requirements at the right time (Cawsey and Rowley
2016).
As a social media consultant the hi tech entrepreneurship will revolve around the
question of feasibility that is the testing through the development of the prototype along with the
entrepreneurs of the higher growth levels that will determine the idea of the specific technology
in order to value the market proposition measures (Narasimhan et.al 2019). Before the high tech
entrepreneurs in the field of the social media consulting have to secure the funding patterns that
will be appropriate for their idea from the beginners to the venture capitalists in the market in
order to prove the sufficient demand in the market and the differentiation process in order to
make the investment in the project worthwhile (Moran, Seaman and Tinti-Kane 2017).
Key strategies of the Business idea
 Target Market
In order to star the hi tech business of social media consulting, there has to be proper
levels of feasibility analysis and the subsequent market research. The feasibility analysis includes
the detailed scrutiny of the demographics and the psychographics of the social media industry.
The analysis of the individuals, the corporate organizations, the government agencies and the
nonprofit organizations who will require the services of the social media consultant. Therefore
the target market of the social media consulting is broad and is not limited to the few groups of
the individuals or the business units who will be aware of the power of the internet (Baird and
Parasnis 2017).