So when’s the best time to take the plunge and start a new business? Now of course!
Here’s ten reasons why.
- Mobile phones & Video Marketing make it easy
According to Social Media Examiner, three out of four consumers use smart phones to shop. As a small business, people are now able to access you 24/7. Visual and video social media are on the rise (with platforms like periscope, zoom, blab and Facebook video) so connecting with your clients via video has never been easier!
- Low Barrier to Entry (It’s not that expensive to get started)
There was a time when starting your own business, required masses of capital investment and risk. Interest rates are low at the moment and these days (so long as you get the ‘triangle’ right of having something that you’re good at doing that you genuine love and that people will pay money for) you can start a business for a low investment - but you need to have a clear plan and great connections!
- Co-opetition is on the rise
There is a rise in the feeling of ‘co-opetition’ and collaboration rather than ‘competition’ within the small business community at the moment. Entrepreneurs see the value in teaming up with others who have a similar audience but different offering whether it be a co-hosted event or a “share for share” on Instagram they see the value of creating a win-win situation.
- Being your own boss = Freedom
As long as you put “boundaries and buffer” in place (around when you’re working and not working…) being your own boss can allow you amazing freedom in your life. Freedom to earn and hours to work that suits your lifestyle. There’s something quite magical about being able to go to the beach at 10am on a Tuesday just because you want to!
- Small business is scaleable
Small businesses should look at how they can scale or leverage their business to have more impact and sales without having to pour ridiculous amounts of time, energy and money into the business. ‘Adding value’ to their clients and customers in this way will also bring in more business.
- It’s great role-modelling for the kids
As a business owner, when our children see us excited and nervous about a new idea, project or event, it shows them that it’s good to be creative, to try new things and to learn from your mistakes.
- Social media sells
Yes it can be overwhelming, but if you are on the Social Media platforms where your ideal clients are, your messaging identifies the pain or problem that they experience and you have a genuine solution, customers will click! The key is to not try to ‘be everywhere’ but to be where your people are and to use the medium that suits your personality and skills the best as well. Not everyone is born to blog or podcast but for the right people with the right message, it can be an amazing way to generate a following.
- It allows you to give, give, get
As a small business owner, you have the freedom in your schedule but also freedom to make decisions around where you put your time, energy and your influence. In 2015 I was approached to help raise money for SHINE (reducing domestic violence in NZ homes) and because I work for myself, I could say yes and put the wheels in motion quickly. *We ended up raising $7000 for Shine at a ‘Connecting for a Cause’ Networking Night for women in business.
- Mindfulness and Me-Time
As a mother of three, I know what it’s like to be pulled in different directions. If your business is the type where you work from home, you can block time in your weekly calendar for being mindful rather than rushing all of the time.
Running your own business allows you to re-connect with your WHY because focusing on your goal (personal goals as well as goals for your clients/customers) means you need to be on the ball with your own, whether you write them on your vision board or not!
- Sharing your story is easy.
People buy because of the person. Sharing your story (the reason you started your business, even the struggles and successes that you’ve had along the way) helps your clients and customers to connect to you. As a small business owner you can decide how much or how little you share. Now with so many online tools and platforms to choose from, it’s easy to share your story and create a “call to action” that people will connect with.