6 Reasons Why Now is the Time to Start Your New Business
Latest posts by Chris Bibey (see all)
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I don’t have the time. I don’t have the money. The economy is bad. I am too busy with my family. These are all common excuses among people who are interested in starting a business. Why continue to hold yourself back from realizing your dream?
Here are six reasons why now is the time to start your new business.
1. The Corporate World Has Never Been More Unstable
With the U.S. unemployment rate hovering around 10 percent, saying that the job market is unstable is an understatement. Are you worried that you are going to join the ranks of the unemployed in the near future?
The thought that “having a corporate job is safe” is a thing of the past. Now, unless you are the person in charge, you are in jeopardy. Even if you are an asset to your employer, there may come a time when you are cut out of the equation, sometimes for no good reason.
Some of the largest employers in the world are scaling back. Rather than take the risk of being let go, take the bull by the horns and start your own business.
2. You Don’t Need the Stress
Let’s face it: working for a corporation can be a world of pain. From the daily commute to the long hours and everything in between, you are going to be stressed out. In turn, your health will inevitably begin to suffer.
Does this mean that starting a business is stress-free? Of course not. However, you are the one in charge of your schedule. On top of this, you can ensure that you always have a job. Yes, you will be stressed about getting your company up and running and earning enough money. But at least you are the person calling the shots and you are no longer at the mercy of your employer.
3. Take Advantage of Cheaper Prices
With the economy in the dumps, there is great value right now in many markets and industries. This is the best time to secure low prices on everything from office space to labor to land and equipment.
Although it costs money to start any type of business, you can save big right now thanks to a struggling economy and a hungry workforce.
4. You Can Have an Office Anywhere in the World
Tired of a long commute and traffic? Work from home! Are you interested in moving to a different part of the country, where the cost of living is lower? Pack your bags and get on the road – you're the boss now! No matter your business, when you are the guy (or woman) in charge you can setup shop wherever you want.
Tip: consider an internet-based business. With this, the only thing you need to get started is an idea, an internet connection, and a computer. It does not matter where you live as long as you have these three things. The cost of starting up is less too, which is another massive benefit.
5. Do What You Love
Have you spent a good portion of your life working a job that you do not enjoy? Join the club. This is something that millions of people all over the world face, day after day. As common as it may be to work a job that you don’t enjoy (or even hate) this is not something that you have to deal with for the rest of your life. To quote Steve Jobs: “We don’t get a chance to do that many things, and every one should be really excellent. Because this is our life. Life is brief, and then you die, you know? And we’ve all chosen to do this with our lives. So it better be damn good. It better be worth it.” Pick an industry you love that gives you the ability to earn money while never feeling like you are at work. Does it get any better than that?
Unfortunate as it sounds, many people sacrifice other parts of their life, such as family and extracurricular activities, for their work. Don't be under the false illusion that you'll never have to compromise again when you run your own business, but you can definitely be more flexible when you run your own business. You can take as many vacation days as you want – as long as you get your work done. You can take your child to school in the morning, schedule a doctor's appointment in the afternoon, or take your spouse to dinner without having to worry about what is going on at the office. It is this degree of flexibility that is often the most alluring factor of starting up.