Deciding when to start your small business is important. You don’t want to rush into things, but it can also be much too easy to keep pushing something that is exciting but daunting further into the future.
If it’s inspiration that you’re lacking, the points below may help motivate you to switch into higher gear and launch that business in the year ahead.
There’s No Time Like the Present
It’s a cliche, but ideas become cliches because they rang so true that people kept saying them over and over again. In this case, the idea is that there is really no value in waiting to do something that you genuinely want to do it. You might feel as though you are waiting for the right time when everything is poised to fall into place, but there are always barriers to starting a business.
If you are facing a truly insurmountable challenge right now or you really do have to wait for something to happen before you can get started, such as for funding to come through, set a date not too far in the future to start and stick to it. Part of building an efficient startup is knowing how to take the right risks at the right time.
You Can Become Financially Independent
It’s hard to become financially independent when you are relying on someone else to sign the checks. Of course, you can work hard and save as much of your salary as possible in order to retire early, but working for yourself is a much quicker path. You do need to get your own finances in order first, and this includes making sure that you have a cushion that you can draw on if your cash flow dries up.
Cutting back on your expenses to build this cushion could involve some creative approaches to saving money, such as refinancing your student loans so that you’re making lower monthly payments. This won’t take time away from business planning; you can fill out your application in less than five minutes and get options for customized loan terms plus select your rate type and monthly payment. You can set aside the difference in a fund for your business.
Remote Working Is Here to Stay
What does this have to do with starting your business? There’s never been a better time to find talent to work for you no matter where they live. Furthermore, you may not have to worry about the overhead of an office, or at the very least, you may be able to rent a smaller space than you would have a few years earlier.
Explore how working with a staff that is at least partly remote can expand your hiring base and save you money.
Tomorrow Isn’t Guaranteed
A corollary to no time like the present, this reminds us that the problem with putting things off is that it can mean we may never get the chance to try.
Living each day as though it’s your last is probably not a great idea in terms of long-term planning, which is important in a successful business, but acting as though your time is unlimited isn’t either. Push yourself to make your dream happen so that you never have to look back in regret at what you didn’t try.
