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How Emerging Technologies Can Help Drive Entrepreneurial Success

Over the course of the last year our economy has suffered disruption on a massive scale. With the arrival of the pandemic, once profitable companies saw their business models crumble under a tsunami of social distancing, lockdowns and curbed consumer spending. Entire industries, such as tourism and hospitality, came to a halt. Office towers stood vacant as people began to work from home. Great restaurant meals were replaced by groceries ordered online and people everywhere sought comfort in their newfound interest in baking sourdough bread.

How Emerging Technologies Can Help Drive Entrepreneurial Success

It also became a scary time to be an employee of a firm. Furloughs and layoffs were common, and many who were still employed found their weekly hours cut. More and more, individuals began to understand that to survive in the world they needed to chart their own course in life. One of the best ways for entrepreneurs to quickly respond to market opportunities is to leverage emerging technologies such as 3D printing. With 3D printing, you can prototype and create new products without a massive investment in manufacturing capacity.

How Emerging Technologies Can Help Drive Entrepreneurial Success

Purchasing the Cutting-Edge Equipment You Need

When you are creating a new business, one of the most important questions you have to address is how to come up with the startup money you need. Sometimes you can pull money from savings but it's best to keep your options flexible when you are just getting everything going. Many entrepreneurs turn to personal loans to help capitalize their company and buy the equipment they need. If you are looking for a personal loan, it's easy to go online to explore your options and find the right personal loan for you. With low interest personal loans, they put money in your pocket now so you can finance your business and invest in the 3D printing equipment you'll need to create and produce your products.

Developing Your Own Products for the Marketplace

Many first-time entrepreneurs are tempted to look for existing products they can sell through online sales channels. They will look for a product that is produced overseas and will then import the item or items for sale in their own country. On the plus side, this approach saves on startup costs because all of the manufacturing is handled by someone else. Unfortunately, by doing this, you lose market leverage because what you are selling can be purchased and resold by everyone else. With 3D printing, you have the ability to quickly prototype unique products that only you manufacture and offer to the marketplace. This technology allows you to easily make design changes and quickly cycle through multiple iterations of product development. Once you have the right version of your product, you can produce the custom item on demand as orders come in.

Dreaming Big to Tap into a Hot Market Need

If you want to go for the gold and really leverage the power of 3D printing you could make a play to produce Accessory Dwelling Units (ADUs) that give consumers much needed bonus space. With so many people working and going to school from home right now, there is tremendous demand for increased square footage. ADUs are standalone small buildings that can be used for home offices, backyard cottages or even rental accommodations. With leading-edge, large scale 3D printing equipment you are positioned to disrupt the construction industry. Instead of building a cottage or dwelling in the traditional way, you can use 3D printing to produce the space you need. Basically, you create your building with ink made from steel, cement and fiberglass. The printing process, which applies layer after layer of ink until the project and building is complete, can be done on site.

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