A friend of mine is starting a business selling Cupcake Towers. When I first heard what she was doing I thought, “Why would you want to start a business right now?” After further consideration, I realized that if you have a good product or service, now might be the best possible time to start a business. Here is why:
- There is less competition for workers right now so you can get good help for a reasonable cost.
- If you have a business idea that you can run on the side, it makes sense to start before you quit your day job.
- Technology has drastically reduced the cost of running a business. You can get a web store up for $20 to $40 per month (sometimes even less).
- If you want to work from home, but can’t with your current job, starting a business that you can manage during the evenings may be a great first step.
- A side business provides great insurance against job loss. (See Don’t Depend on Your Job.)
If you are looking at starting a business on the side, I’d recommend reading The Leap and Go It Alone. The Leap will come out mid September, but the review copy I was sent looks very good, and it really makes you question all of your preconceived notions about why you can’t start your own business. Go It Alone is a bit dated, but it offers some great suggestions about the mindset of starting a small business without trying to hire a bunch of employees. (You can also read it for free online.)
I think you are right on the money, if she knows where her customers are then she can really take over the market right now.
Another reason that might sound simplistic, but I think is critical, is that running your own business is _fun_. If financing it isn’t going to cause you to starve, I’ve found, starting your own business can give a sense of meaning and enjoyment to what you do in the “day job” in addition to your life as a whole.
I’ve been selling Avon products for the last four months, and thanks to a down economy when people are trying to save money, my business is thriving. My part-time job has earned me enough to pay for my new 2009 Kia Soul monthly payments, and then some.
I joined Avon as a goof. I used skincare products, and enjoyed Avon products. But it wasn’t until a friend asked me, “Why don’t you try selling Avon?” did I even consider the opportunity. What started out as a goof has become a profitable-hobby. I get paid to show people products that they already use, and help them find products to enhance their looks. What could be more fun or rewarding?!
With Avon, you own your own business. You’re in business for yourself, but not by yourself.
Another reason that might sound simplistic, but I think is critical, is that running your own business is _fun_. If financing it isn’t going to cause you to starve, I’ve found, starting your own business can give a sense of meaning and enjoyment to what you do in the “day job” in addition to your life as a whole.
This is the time definitely. From the recent past, one of the lessons learnt is that one must not be too reliant on a salary. I lost count of the number of people who lost their jobs and got so frustrated that they went home and gunned down their entire families. Have something on the side for financial security.
@Lottiel1 – I hope these weren’t people you knew personally. Actually your comment goes along with another post, Don’t Depend on Your Job.
I started my business right before the down economy and I think now is a better time to begin. Getting good help for less money is a big plus.