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9 reasons why now is the best time to start your own business.

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Starting your own business has never been easier than it is today. The opportunities available today, have erased the fact that you need to leave your job first in order to start a business.  Leaving your job now may be far too risky depending on the kind of responsibilities and bills you have to pay. Being an entrepreneur requires that you take risks that have been well calculated. It’s not about making randomly risky decisions that are not accounted for. Entrepreneurs are smart people, they take risks, yes, but not in the sense that most people have thought.

Today, you don’t have to wait for the day you quit your job in order to start your own business. You could instead for example; start an online business, at some point you might need to reduce the hours you work at your day job in order to devote more time to your own business. Eventually, you can leave your job while you have a running business. This is what I did when I wanted to quit my job. It’s part of taking a well calculated and managed risk. All I am showing you is that there is no good enough excuse not start your own business. If you want to!

The reasons why now is the time to start your own business include;

Technology has made it easy, there is no hope in jobs, you no longer have to risk everything, there is help everywhere, it’s easier to get credit, ease of entry, the start-ups are cheaper, today you can almost learn anything.

These reasons do away with many excuses that people have for not starting their own businesses. I have been reading ESCAPE (by Anik Singal) lately. I have discovered a different version of entrepreneurship that the world doesn’t tell us about, and neither does school. I discovered that as an entrepreneur, you ought to take responsibility for your actions. Whether you start a business today

Let’s look at the reasons why now is the best time to start a business.

  1. Technology has made it easier.

A while ago it was quite difficult to start your own business without the technological advancement we have today. Most of the times, you were limited to starting a physical business which definitely requires a lot in place before you start. Today the internet has made it easier! Many have started their own businesses working from home. Take a look at sites like shopify – You can own an online drop shipping store. You don’t own the product and don’t own a physical store. You simply ask the manufacturer to ship out products when you have an order.

You can take a look at other online businesses in the article:

10 passive income ideas to get you out of the rat race.

  1. You don’t have to risk everything.

As I mentioned in the introduction, you don’t have to leave your job first in order to start your own business. For example, if you start a blog, you may have to write blog posts in your free time, probably over the weekend. In future, the blog will help you earn a substancial income if you do it consistently. The decision as to whether you leave your job will then become easier.

  1. There is help everywhere.

There is so much help everywhere. So many online forums for people that have started the same business like you. This online presence makes it easier than ever to operate and run your business successfully. You will always have answers to the challenges that you face in your own business. Gone are the days when the start-up was a lonely place. Today you have real time access to other people’s experiences, questions and answers.

  1. It’s cheaper to start!

So many business ideas today need very little to start. I don’t like the idea of people saying you can start with no money. It will badly cripple your progress. However, you may not need to start with thousands of dollars. Most passive income opportunities  need a computer, a website and an internet connection in order for you to get started. Take the example of Writing e- books, you can start this from home and publish on demand with amazon Self publishing. This way, you will not have to spend money publishing your e- book. You also have access to print on demand where the book will be printed when a customer places an order.

  1. You can learn anything.

Today you don’t have to be limited to traditional school to teach you theory that they have no clue about. There is a lot of online resources like; video courses, YouTube videos amongst others. You can always visit places like; Linkedin and Coursera. I personally like to use YouTube because it gives you help on the go. It may not offer you help in learning the entire subject as a whole. The interesting part is that you can also look out for the free resources.

Check out the article by business insider on free online resources.

  1. If you don’t start today, you will still be in the same position 10 years from now. There is no guarantee that the economy will remain in the same place it is today. Things are changing really fast which means it could also happen on the down side! You don’t need to get everything in order in order to start. The traffic lights may never be all green for you to start so waiting for the perfect time may not help. Entrepreneurs make mistakes but they don’t live by these. They learn from them and move on. If you start 10 years from now, you will still be a start-up which means the procrastination and bunch of excuses doesn’t help at all.
  2. There is no hope in job.

This is rather a sad fact but it’s the truth. With the increased technological advancement, jobs are not guaranteed anymore. Much of the human labor has already been replaced by machines. The issue is, many people who are employed do not see it coming. The transition catches them unawares.

  1. More efficient methods of marketing.

A while ago, adverts had to be made on television, radio and also using roadside banners. This was very expensive, but also did not produce the kind of results you can produce with the marketing tools available with the internet today. If you use Google Ads, Facebook ads, and other pay per click platforms, you could reach more customers in just a few minutes from a single location. You can even drive free traffic to your website using platforms like Pinterest and all other organic traffic sources.

  1. Potentials to earn passive income.

Opening up a physical store is something I consider an old time idea. The store can only reach the people who come across it physically, unless it has a website and does shipping to the rest of the world.With this kind of store, you can only make money when it is open even though you pay rent for 24hrs! The internet has presented opportunities to earn passive income. This means you can set up a business and automate it to sell even when you are away.

Related article:

10 passive income ideas to get you out of the rat race.

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