Entrepreneurial experts are often quoted saying that “now is the best time to start a business,” and skeptics are quick to point out why they’re wrong.
But business professionals keep saying that because it’s true. There’s no perfect time to start a business. At no point in history has there been a time when every factor that affects the success or failure of a new business has been favorable.
There will never be a time in the future when every factor in entrepreneurship is favorable. If the economy is strong, then there are probably more competing startups. If there are fewer competing startups then there’s probably less venture funding. The list goes on.
It’s not a matter of if there will be obstacles, it’s just a matter of which ones. The reason that the experts keep saying that now is the best time to start a business—and the reason that it’s true—is because tomorrow, things won’t be better for a new business, they’ll just be different.
One of the very first and best things you can do to make your business venture a success is to take control of your mindset. Start looking for reasons that something will work, and approaching obstacles as problems to be solved.
To help you get started, remember that there is a solution to every problem. Then, check out these reasons why 2018 is a great year to start a business.
Globalization is going to help you out.
The economy is more global than ever and so is the job market.
As of 2017, over 7.5 billion people have internet access. That’s the highest it’s ever been. The trend shows that there will be even more people online in 2018. This means that the potential market for any new business is massive, and easier than ever to reach.
Additionally, there are ample opportunities to sell digital goods and services that come with no shipping expenses. Entrepreneurs can access and serve foreign and developing markets new and creative ways that weren’t possible in decades past.
If that weren’t enough, shipping costs fall every year, and there are tons of quality shipping services to choose from. So, even if you’ve got a physical product to sell, you can still access those external markets pretty easily and cheaply.
The last aspect of globalization that makes your life easier is the global talent pool. Entrepreneurs can tap professionals from all over the world for services and skills that they don’t have themselves.
For example, to lower startup costs, the creators of Appsumo outsourced the software development to a team in Pakistan.
The perks of a global economy and job market can likely help you overcome any obstacle you may encounter on your entrepreneurship journey.
Technology makes you more powerful.
One thing that helps level the playing field between corporate businesses and startups is technology. Many expensive business services have been replaced by much more affordable automation and software.
This means that much of the foundation of a business can be built by one person: the entrepreneur. Sure, as you scale your business, it becomes necessary to add team members (and once you need to build a team, technology can help you find great people).
However, technology makes it possible for one person to get almost all of the initial company infrastructure set up on their own, from the back office to customer engagement.
This lowers startup capital requirements significantly, meaning that you might even be able to get started without the help of a bank.
You don’t have to quit your job… Yet.
Running a business might be a full-time job, but starting one doesn’t have to be. It’s fair to say that many people can’t just quit their job today to start a business.
However, the good news is that starting a business doesn’t have to be taken all in one bite. It can, and probably should, be a gradual process that at some point enables the entrepreneur to quit their day job.
It’s entirely possible to create a successful business by devoting just an hour or two a week to building that business at first. It’s also possible to build a business with little or no capital up front.
Being an entrepreneur doesn’t have to involve risks that jeopardize your ability to put food on the table and keep the lights on. Consistent effort will get the job done.
Many people struggle to get started on their own business because they simply don’t know what to do first, or what to do once they’ve taken that first step. Others hesitate because they’re worried their business idea won’t work.
This is totally natural. Fortunately, there are a lot of people who have walked this ground, and have offered their wisdom to help you out.
So, is 2018 the time to start a business? Yeah, it is. Last year was also an excellent time to start a business. 2018 is going to be great. Don’t miss out on it.
If you want to validate a business idea, or need guidance on where to start with your new business, let me know. I can help.