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Calling All Entrepreneurs!

Calling All Entrepreneurs! Print
This Is A Perfect Time To Start A Business!

Have you always dreamed of owning your own business? Well, contrary to what you see on the news, this is a perfect time to start a business. If you watch the news, all you see is doom and gloom and no one is showing you the real opportunities that exist right here, right now. This is an unprecedented time to own your own business and be your own boss. Historically, a bad economy makes a springboard for successful businesses. Let me give you some insightful examples:

The Great Depression 1930 – 1939

  • 3M remained dedicated to R&D and created Scotch Tape
  • Hewlett Packard was created by Bill Hewlett and Dave Packard

Recessions of 1954-61

  • Ray Kroc opened the first McDonalds
  • Proctor & Gamble tests Pampers disposable diapers

Vietnam and Oil Crisis 1973 – 1975

  • Bill Gates and Paul Allen form Microsoft
  • Post-It notes are invented (though they were not introduced until 1980)

The Recession of the 1980’s

  • MTV is launched
  • Diet Coke hits the market

9-11 Attack

  • The iPod is unveiled
  • XM Satellite radio begins broadcasting

One of the main reasons people stay in a job and never take the risk to start their own business is the sense of job security in their existing job. Today, there is no such thing as job security. The headlines are brimming with lay offs and the jobless rate is at a 25 year high with 4.4 million jobs lost since the start of the recession. This makes it a perfect time to take your future into your own hands and not wait for the ax to fall at the office.

This is an unprecedented time to easily set up your own business. The Small Business Administration estimates that 550,000 small businesses are started every year in the United States. Over half of the businesses in the United States are operating out of the owner’s home. The internet is brimming with assistance for small businesses and start ups, which is one of the reasons we set up AZBR. Here are the steps to start to release the entrepreneur within you:

First – follow your passion and make sure your business is something that you love and you have the technical expertise to run it. Do not switch to a new career and try to learn a new business – stick with what you know to ensure your success.

Second – take a free course on how to set up a business and prepare a business plan from a reputable business organization such as Score or Small Business Development Center. Prepare a business plan to put your plan in action.

Third – work from home. Set up your office with a computer, printer, cell phone, scanner and internet connection and you’re up and running. This will also allow you to have a home office deduction from your taxes. For protection and public appearances, obtain a mailbox that has a physical address so you have an address other than your home address to put on your business cards.

Fourth – use free marketing tools, such as joining LinkedIn (a powerful online professional network) and create a public profile with a headshot that you can use as a mini website (here’s mine as an example!). Create a Facebook page for your business. Create videos advertising your business and post them on YouTube.

Fifth – join associations such as the local Chamber of Commerce and the small business association.  Take advantage of their benefits and learn to network your business.

Sixth – surround yourself with people who will help you succeed. Obtain a mentor who has already established a successful business. Create a mastermind group of other business owners who can support each other as they navigate the business world.

Budding entrepreneurs in diverse industries looked beyond the news reports of crisis and set their sites on pursuing their dreams. Fortunately for us, they followed their passion, made a smart plan and are here to celebrate today. Perhaps it is time for you to release the entrepreneur from within you!