Why the best time to start a business is right now

‘How to start a business’ must be one of life’s great questions. At least one of life’s most Googled questions. 82% of young people have said they would love to start their own business, so why haven’t they done it yet? Maybe I could ask you the same question.

The truth of the matter is, if you want to start your own business you should do so.  Too many people are overcome with fear when it’s time to get to the nitty-gritty. But I’m telling you that advancements in technology have led to a world of opportunities for want-to-be entrepreneurs in 2018. Here’s why there’s no better time to start a business than right now.

It’s a small world after all

There have never been more people on the planet than right now. And, it has never been easier to reach every single one of them, with almost 4.2 billion people connected to the internet. That’s over half of the global population. That’s 4.2 billion potential customers you can reach from the comfort of your own home if you wanted to.

Selling your products and services to a global customer base has never been simpler. There are your big hitters like Amazon and eBay, or you can set up your own website within minutes. There are even sites like Etsy that are tailored to small, niche craft businesses.

Cloud computing means you don’t have to worry about a physical hub where you can anchor yourself. You can work from home, a cafe, or even lying on a beach. You and your employees can work anytime, from anywhere, sharing information seamlessly and safely via the cloud. This means you can keep startup costs as low as possible and start making a profit much earlier than most small businesses.

Social media

Social media makes it easier than ever before to access a highly engaged audience at the tips of your fingers. It’s arguably one of the best tools available to use to your advantage to get your business off the ground cheaper and faster than ever before. One viral post about your product and you’re ahead of the game.

With social media, you can:

• Connect with a global range of customers.
• Build loyalty and trust between your brand and your customers.
• Target the most relevant consumers to your business for more efficient sales.
• Carry out aspects of digital marketing either using professionals, for the best results, or for free by yourself. 95% of online adults between 18 and 34 are most likely to follow a brand via social media. You can tailor which site you use to your target audience.
• Network with other businesses to start developing partnerships for life and make your way up the ranks. LinkedIn bridged the gap between you and 250 million monthly users at the click of a button.

Finance

One of the most common concerns for people looking to start a business is how they’re going to fund it. Fortunately, there are more ways than ever to fund a new company, once again, thanks to the magic of the internet.

Possible funding streams include:

• Bank loans
• Venture capital
• Self-funding
• Competitions
• Crowdfunding sites such as gofundme.com

Just look at Cards Against Humanity. 8 friends got together and made a card game with no major funding except what they could raise through crowdfunding. Now they make over a million pounds a month in Amazon sales alone.

More technology

There’s more business-orientated technology than there has ever been before making things so much easier than it was for the entrepreneurs that came before us. Sometimes one of the sad realities of becoming a business owner is that instead of being able to focus on doing what you love, you become an accountant, receptionist, PR expert, customer services, and IT department all rolled into one package. You didn’t sign up for that. What you should have signed up for are useful applications.

Low-cost software s readily available to automate all the tedious admin tasks that come with being a business owner, freeing up your time to focus on growth and innovation. It’s the ability to use these available tools to your advantage that will give you the edge against your competitors.

So now you have your answer what are you going to do with it? It’s easier than ever to start your own business with easier access to markets, more natural, cheaper, and more effective marketing possibilities, and better access to funding and automation technology. All that’s stopping anyone from becoming an entrepreneur today is the commitment they give and how badly they want it.