Myth Busting: Now Is Not the Right Time to Start a New Business
Larry Rottmeyer, PhD, Director of Innovation Education, The NIIC
News flash: there is never a perfect time to start a business. That perfect moment never comes.
Why? Something is always going to be going on in life to postpone or delay starting your business. Life does not stop. Time does not stop.
Many people have thought about starting their own business. You are likely one of those. And, you may have thought about your own business a lot.
For many, that decision to start building a business has been delayed for months, possibly even years. It just never feels like the right time.
When to Start the Business
In reality, you have to create the right time. It is up to you to make the new business happen. You can’t wait for tomorrow – tomorrow never comes.
So, why is now the right time to start a new business venture? Consider the following:
Available Talent – there are gifted and skilled people who can help you launch a new venture. This includes potential co-founders, key professionals, mentors, and investors.
Technology – advances in tech have reduced the time and costs involved in building new businesses. Online support and learning opportunities are plentiful. Tech-based products provide new startup opportunities themselves.
Lower Marketing Costs – social media and other marketing channels reach prospective customers at lower costs. Today, startups can create a very established online presence.
Flexibility – business builders like flexibility. Along with it comes being your own boss and making the decisions for your startup venture. Many startups are launched initially as side hustles during the founder’s spare time.
Happiness & Satisfaction – life is too short to spend time in unfulfilling roles and environments. Business builders often find their new ventures positively engaging and energizing – to the posi.
Low Barriers to Entry – unless the product requires extensive development and resources, many startups are successfully launched with little or no funding. Service-based startups, in particular, need little funding upfront.
Waiting Won’t Help – successful ventures may not wait for the right time. Someone else may beat you to the market. Now can be the right time to make it happen.
The NIIC team offers loads of help for new business builders. Consider including our NIIC Navigator® in your startup adventure. NIIC Navigator provides a learning management system and an academy. Learn more by visiting our website or contact us at firstname.lastname@example.org.