As much as the pandemic has been overwhelmingly difficult to say the least, there has never been a more perfect time to start your own business. Unemployment across the world is at an all-time low and the economy has taken a huge hit. But this isn’t all cause for doom and gloom.
If companies like Uber and WhatsApp can be founded during difficult economic times, there is hope for the rest of us – huge hope. The pandemic won’t last forever and those who show agility and adaptability will thrive as soon as we emerge out of the other side.
Right now, with things still remaining uncertain, entrepreneurship could be the answer – particularly if you want to avoid unemployment for good. You just have to have belief in your own ability and be brave enough to take the leap.
Need more reasons why you should start your own business today? Keep reading.
To take opportunity from crisis
There’s nothing quite like a global crisis to both bring people together and kick-start new ideas and new ways of doing things. We have all had an almighty wake-up call during 2020 and it’s time to do something about it. Whether we like it or not, we are being forced to alter our behaviour – whether that be related to our health, loved ones, work, or our general way of life (likely all of the above).
But all of the changes mean massive opportunities for entrepreneurs. So many of the biggest companies you’ve heard of were born from crisis – Airbnb, Disney, and Toyota, to name but a few. Costs are low and people are hungry to see something different. Plus, changes in consumer habits mean there is a big gap for new business to start to fill. All you need to do is start.
During employment, you might be lucky enough to be put on the odd course over the years, but it’s likely you’ll be stuck in a role where you do mostly the same each day. For those wanting a constantly evolving and exciting career, upskilling as an entrepreneur is the way to go. Even prior to the pandemic, upskilling was a hot topic – and so it should be. Even if your business failed, there’s never a downside to expanding your skillset. It will just set you up for something bigger and better to come.
Let’s say you cannot yet afford an accountant or somebody to manage your social media pages, being willing to learn and take on these tasks will be exactly how you’ll see things through, especially in the beginning. Every single day that you run a business is a day where you have to attempt a task or solve a problem that you might not have experienced before. And there has never been a better time than now to upskill and know what you are going up against in the wonderful, but everchanging, world of business.
To have control over your financial fate
As mentioned at the beginning of this article, one of the biggest downfalls of this pandemic has been unemployment levels. Lockdown after lockdown has meant that even those who survived the first wave, have come tumbling down in the second. Shutdowns across the country, and indeed the world, have kept so many of us at home. And of course, as a result, the job market is going to be pretty competitive in the years to come. Not necessarily though if you’re an entrepreneur. Can you see the theme yet?
No endless job applications, no resumes to fix up, and no three-time zoom interviews which eventually lead to yet another ‘no’. Instead of relying on employers in terms of job security, you have the power to create your own income stream, or streams, for yourself. You have control over your own financial fate.
We have motivation for change
Our thought processes have shifted in terms of both our work and personal lives. Suddenly the boundaries have become blurred and we’re learning what we do and don’t want, and what does and doesn’t work. There have been huge inefficiencies in the way many businesses have done things and there are gaps everywhere. Innovation is rife and it’s all to play for.
Consumers are looking for change and they’re willing to support those who go the extra mile and think outside of the box. And as business owners, we’re motivated for change too – and we can be the change. There’s a certain hunger to provoke new ideas – and the world is ready for it. So, go for it whilst the going is good.