Why 2021 Could Be Your Year To Start A Business
2020 (AKA the pandemic and everything that came with it!) has forced us all to think differently – about how we live and work, where our passions truly lie, and to really consider what’s important to us.
For many, the big question is ‘“do I actually love and find fulfillment in the work I do every day?”
Some of us have found ourselves in a position where, for the first time, we have an opportunity to make good on a longheld dream or idea… and make it into a workable reality.
Could 2021 be your year to launch a new business?
Victor & Spoils: Why Should I Start A Business?
Yup, building a small business offers many opportunities – to make some extra cash, flex some creative flair, learn and grow, connect with new people, and build something from scratch.
While the decision to go it alone shouldn’t be taken lightly, get it right and the rewards can be life-changing. Here are 10 reasons why many people decide to start a business:
- Control over their own destiny
- To find a better work/life balance
- An opportunity to learn about themselves and their strengths
- An ability to choose the people they work with
- To take a risk and reap the rewards
- A chance to follow their passions and find meaning and purpose
- To get things done better and faster than the competition
- A chance to give back to their community
- An opportunity to build something of their own
- To learn a new skill – through different on- and offline tools
Timing It Right: When Should I Start A Business?
Truth be told, there isn’t really a right time to get started. It’s not so much ‘when’ but how prepared you are.
Sure, some people strike it lucky. They jump on a ‘get rich quick scheme’, see financial results quickly, and become an overnight success. It might be their timing, being in the right place, or having the right product or service. But this is very rare.
For most people, becoming an overnight success involves several years of hard work. You have to devote yourself to your business, it will take a lot of sweat equity and sacrifice in the beginning to get it launched.
Starting a business generally takes more of your time than a regular job. If you have a partner or kids be aware that running a business will have an impact on your nearest and dearest too – both emotionally and financially.
Your financial situation is a key consideration when determining whether to start a business. How much risk can you tolerate? What responsibilities do you have? However, don’t forget that there’s more to starting a business than just earning money.
Be In It For The Long Haul
Starting a business is a long term game. It takes grit and stamina to see it through the ups and downs in order to succeed. This is why no-one should quit their 9 to 5 job and start a business without giving it some serious consideration.
While it’s natural to feel scared about taking the leap to self-employment, the trade off in terms of happiness, and joy in doing what you love are 100% worth it. And if doing what you love helps bring in some extra cash, well, what are you waiting for?
Starting a business in 2021? Read our Ultimate Startup Checklist first!