SOCIAL MEDIA AND ENACTMENT OF ENTREPRENEURIAL OPPORTUNITIES: EVIDENCES FROM PAKISTAN

Abstract

Purpose: The aim of the study was to find out the aspects of social media platforms that either help or create challenges for social media entrepreneurs in actualizing or enacting their respective entrepreneurial opportunities. Methodology: The study is qualitative in nature and uses an exploratory approach. To collect data, semi-structured interviews were conducted from thirty-five social media entrepreneurs. The interviews were conducted in real-time via WhatsApp call and were audio based. Findings: The key findings suggest that social media platforms especially Instagram, play a very vital role in the success of social media businesses. While on one hand, social media provides social media entrepreneurs with an array of helpful features and opportunities of gaining customers and success, there are also a few challenges involved in running a social media business. Consumer trust, fear of online scams, losses being a few of the difficulties. Entrepreneurs however, with experience and time, can learn to minimize the challenges and maximize the benefits of social media. Implementing corrective measures, the most suitable social media marketing tactics and building a connection with the customers can be immensely helpful for a social media entrepreneur in gaining success in the virtual world. Originality/Value: There is a dearth of research when it comes to taking the entrepreneurs’ point of view regarding the important/useful/challenging aspects of running a social media business and this study aims to bridge that gap.