Do you have one good reason to start your business right now?
How about 10?
Regardless of what people around you may say, right now is absolutely the best time to get into business, and I'll give you 10 good reasons "why" - no matter what other people or the media say.
If you don't believe me, just go back and look at the slowdowns throughout economic history. Most recessions in the post-World War II era U.S. last just an average of 10 months, followed by growth cycles that last an average of 50 months.
What this means for the start-up is there is no better time than right now to get going and start pursuing your business dreams - in anticipation of the next period of growth.
1)First, everything is cheaper. There is great value right now in this and in world markets. As asset prices have been knocked down, there is no better time to get into the real estate or financial markets, or even heavy equipment and construction. Some people have waited years to find value in these markets - and now that time has come.
2)You can hire more team and better qualified people. In an era when big companies are laying off, you can find great resources at affordable rates. There are plenty of engineers, accountants and attorneys looking for their next opportunity.
3)People are looking to change suppliers. From a cost perspective, everything is "on the table" for most companies. If you can come in with greater value even if your prices are higher, you have a good chance at winning new business.
4)Ownership equals tax incentives. Business ownership offers a variety of tax benefits that aren't available to employees. While taxes should never be the sole reason to go into business for yourself, it should be one reason to add to you "benefits of business ownership" list.
5)Family and friends don't want to (or can't) invest more money into the stock or real estate markets. That means they may be willing to finance a portion of your new venture, or the expansion of an enterprise that has proven itself over time. The main benefit is that they know you and have a relationship with you - and if you have a solid business plan that delivers real numbers, the chances of raising the capital you need increase exponentially.
6)Suppliers are giving better credit. Because the credit markets have virtually shut down, the business-to-business credit flows are keeping money circulating out of sheer necessity. That means a bullish outlook for companies looking for good terms on stock and/or inventories. The main advantage is that all parties have more incentive than ever for finding true "win-win" situations that allow for cash and stock flow. When everyone is looking to survive, great deals can be had.
7)You can get good PR by showing you are "going against the trend." If you are optimistic by expanding or getting into business now, you would be in that category. That means you can generate some great PR by demonstrating your "alternative" view of the market.
8)You can buy everything you need at auction. In addition to everything being less expensive, you can find great deals at auctions, especially in terms of any large equipment and office furnishings. Auctions are also a great place to find hardly used or "gently" used restaurant and bar supplies at great prices.
9)You can find great "low money" or "no money" down deals. This is simply being aware of good opportunities others have messed-up, and finding deals where you could get an entire business simply by taking over a lease (along with all the equipment). Many business owners want out at "any cost," meaning you can negotiate great "win-win" deals.
10)You've lost your job and you have to do something. Sometimes, the best business decision is the one you are forced into. There's nothing wrong with being in this position; it just means there is greater urgency to do something that will start to generate income as quickly as possible.
There you have it. There is no better time to start than the present.
So get going.
Not only will you fulfill your entrepreneurial desire, you'll find opportunities you couldn't have imagined, and you'll also be facing a lot less competition.
Disclaimer: All information on this site is provided for informational purposes only! By no means is any
information presented herein intended to substitute for the advice provided to you by any health care or other professional
or organization.
