If there’s one aspect of business that nobody can reliably predict, it’s the perfect time to launch a new business. History shows us that, if anything, we won’t know when “the right time” was until years after the fact. That being said, between shutdowns, riots, unstable world events, and an unsure future, now seems riskier than ever to leave the stable life of the 9-5 and strike out into the unknown.
With everything going on does it make more sense to stick to the mind numbing grind for the sake of safety? Are the risks of taking control of your future greater than the potential gain? Is the economy even in a place where it’s possible to build a new business?
There are endless ways to approach answering these questions and everyone needs to assess their own willingness to take risks, but let’s go over the situation:
There’s always risk. If the past few weeks have done nothing else, they have shown us that from working for a multi-billion dollar corporation to working for a mom and pop store, there’s always risk. It’s impossible to have true job security, as even the most stable and largest employers can fail under the right set of circumstances. The only true security that exists in the corporate world is that ability to absorb shocks and move from one employer, industry, or field, to another when required. That’s a skill that’s both useful as an employee and a self-employed business owner.
The benefits of self-employment are innumerable. Owning your own company gives you unimagined freedom! From unlimited PTO to actually being able to set your own pay to complete flexibility of hours, entrepreneurship is an opportunity with unlimited potential. The only boundaries are your commitment, passion, and willingness to make a successful business.
Now for the million dollar question: Can the economy support new businesses? The silver lining to any economic crisis is after the dust settles we get to see that businesses were built on rock and which were simply houses of cards. This means there are countless gaps left to be filled in the coming months and years. These gaps will be filled by someone, so why not you? The key here though is time stands still for nobody. If you’ve had a dream, it may be now or never.
The bottom line: Right now opportunities exist that may never come again in our lifetimes. Don’t wait! Make your dream happen.