Why Starting a Business Now Could Be Your Best Decision

Economic downturns and slowdowns are generally times of caution for most, but what if it’s actually the perfect opportunity to venture into entrepreneurship? Why Starting a Business Now Could Be Your Best Decision.

1. Unprecedented Entrepreneurial Access

Expanded Resources and Lower Costs

Now is possibly the best time in history to be an entrepreneur. With the internet democratizing access to markets and technology reducing startup costs to less than that of a new car, the barriers to business entry have never been lower.

The digital landscape has leveled the playing field, allowing ambitious entrepreneurs everywhere to compete and succeed.

2. Reduced Competition and Abundant Opportunities

Benefiting from the Current Economic Climate

In tough economic times, many companies pull back, leaving gaps in the market that new businesses can fill. This reduced competition, coupled with an abundant supply of resources like more affordable office spaces, enhances a new entrant’s chances of success.

Additionally, economic challenges foster creativity, increasing opportunities for innovative partnerships and business models.

3. Abundance of Talents and Media Exposure

Leveraging Human Capital and Publicity

Economic slowdowns result in a pool of talented individuals seeking new opportunities, giving startups access to top-notch expertise and dedication.

Furthermore, businesses that launch during these times often attract media attention, providing free publicity that can help establish brand presence and credibility early on.

4. Building a Strong Foundation

Learning and Growing Through Challenges

Starting a business in less than ideal economic conditions allows entrepreneurs to learn swiftly from challenges and mistakes, fostering a culture of agility and continuous improvement.

It’s also a period rich in government incentives like loans and tax breaks aimed at stimulating economic activity through entrepreneurship.

5. Personal and Professional Rewards

Flexibility, Fulfillment, and Financial Upside

Entrepreneurship grants unmatched flexibility in work hours and location independence, with potential financial rewards that can far exceed salaried employment.

More importantly, it delivers a sense of fulfillment from creating something valuable and impacting lives positively, aligning with personal passions and ambitions.

The Timing is Now

Waiting for the ‘right’ economic conditions might mean missing out on the optimal moment to starting a business. If you’ve been considering entrepreneurship, leveraging the current atypical advantages could set you up for exceptional success.

It’s about being informed, prepared, and resilient. With sensible planning and execution, your business idea can not only survive but thrive, even in challenging economic times.

And remember, starting a business is only part of your smart marketing strategy. If you’re curious about how this fits into larger business growth tactics?

Take the SMART Marketing quiz for personalized advice tailored to your unique business needs. Discover how to strategically navigate your marketing efforts for maximum impact without overwhelming resources.

And remember, you don’t need crazy tech skills, buckets of cash, or a dedicated staff to market your business. You don’t even need a lot of time.

What you need is to be smart, and kicking off your business venture now is smart for your business.

If you're ready to grow your business with smart marketing you can:

1. Sign up for weekly FREE Business Bytes with CEO, Torie Mathis

2. Get a SMART Funnel and begin to automate your marketing

3. Learn Digital Marketing with a Smart Marketing Course

ABOUT THE AUTHOR: TORIE MATHIS

Torie Mathis helps entrepreneurs grow their business with Smart Marketing.  She is a best-selling author, Army veteran, international speaker + trainer, and the CEO + Creative Director at Lake Shark Media. She also teaches entrepreneurs how to get smart with digital marketing at toriemathis.com