Five Reasons Why Starting a Business This Year Is a Great Idea
Have a great idea you can't get out of your head? Never seem to have the time or be the right time to start growing your side hustle into a full time business? We think 2020 is your year!
Check out the five reasons why now is a great time to start working for yourself:
Change creates new customer needs
Thinking of new solutions to old problems has always been the key to finding success, but this year it's taking it a step further and finding ways to reinvent, pivot, and update what we already have. Offer solutions to the challenges people are currently facing. With so much going online, the possibilities to scale a business and collaborate with others is endless!
You have the time
We're not saying you're not busy - we know life right now is stressful and hectic in different ways than what we're used to. But you probably do have a little extra time if you're not having to commute and don't have as many social engagements. If you've been wanting to venture out on your own, now could be your perfect time to test the waters.
No costly overhead
Everyone is working from home, which means you pretty much only need a computer and internet to get started on pursuing your passion. A simple one page site and some social media presence and you're ready to jump in!
Assistance is available
“With governments and banks offering hugely reduced interest rates, massive bailouts, [and] supporting hands everywhere you turn, what better time to take advantage?" says Andrew Taylor, director of Net Lawman.
With many businesses playing it safe or unfortunately closing, you won't have as much competition for implementing and marketing your new business. Take this time to shine!
“Downturns or challenging times are seen as good times to start a business for two reasons,” said Rashmi Menon, entrepreneur in residence at the University of Michigan’s Zell Lurie Institute for Entrepreneurial Studies. “One is, there is less competition for resources. The second reason is that whatever changes we face, positive or negative, bring up new customer needs. And customer needs are at the core of any business.”
Still unsure if you should start a business?
Book a free strategy session with us if you need help
getting started! We also offer business coaching.