New Economy
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If you are like most people, you have heard the phrase “new economy” tossed around in the news over the last couple of years. And of course, you know the word “entrepreneur.” But perhaps never the two together. (For the scholars in our audience, click on “The New Economy” link in Useful Tools to the right of this post for more details.)
So what is a New Economy Entrepreneur, anyway?
You will soon see that the two go as naturally together as cookies and milk, but before I give you a semi-formal definition (we here at NEE are rarely full-out formal), let me explain through example.
The following list of names personify the essence of a New Economy Entrepreneur:
- Warren Buffett
- Ariana Huffington
- Oprah
- The Guy Who Runs the Koi Fusion Food Cart in Portland, Oregon
Okay, okay. You were with me until the last name on the list, weren’t you? 
What does a local food cart guy possibly have in common with those other Big Famous People?
Simple.
1. He is someone who invests his energies into adding value to the world through his business ventures that reflect what he is passionate about (an entrepreneur);
AND…
2. He embraces the power of technology to get Big Things Done (in his case, he uses Social Media sites like Facebook and Twitter to attract a loyal customer base who eventually creates a “buzz” about his business and grows his profits for him — the epitome of new economy tools).
In fact, Social Media has allowed this man to take his business from one cart to five, all in less than a year’s time! There is no other way he could have grown as quickly had it not been for the Internet. Of course, once the buzz about his scrumptious multi-cultural tacos was flying all over Facebook and Twitter feeds, the local news media picked up his story and ran a couple of human interest pieces on him and his business, only adding exponentially to his customer base because people saw him on TV.
Thus, a New Economy Entrepreneur is someone who engages in businesses* he or she owns that:
- reflect his or her passions
- add value to the world
- capitalize on the power of the Internet to multiply efforts, improve efficiency, and increase profits.
*Note emphasis on the plural of business — businesses. I point this out because it is critical to understanding what a New Economy Entrepreneur is. NEE are never one-dimensional. Having multiple streams of income is an essential component of the overall definition, just like chocolate chips are an essential part of chocolate chip cookies.
