When is the best time to start a business?
One of the most common questions I’m asked is “what’s the best time to start a business?”.
While there’s no simple answer because everyone’s circumstances are different, there are certain factors that apply to every aspiring entrepreneur’s timing.
It’s a good time to start a business if:
-You are tired of working to make someone else successful. If you’ve been in a situation to solve problems for your employer, imagine what you could do if you put that energy into your own business.
-You’re holding onto your job mainly for security. Forget it. Sorry, but there’s no such thing. You know that boss who finds you so vital to his business? Well, you are only that important until you aren’t, which can happen in a flash and what you did in the past for him won’t matter a bit if he either can’t afford you or doesn’t need you right now. While you still have that job is a great time to start your own business on the side so you’ll be prepared should you be laid off. Best case scenario is you’re up and running, making money and you can quit your job to focus full time on your own business.
-You’ve been laid off. I know people who have spent a year or more looking for work. Some have found jobs but there’s no guarantee they’ll be long term. Others are still looking. Imagine if they’d spent that year starting their own business. They’d have job security and control of their income and benefits. And the best boss ever.
-You’ve had this business idea for awhile and you can’t get it out of your head. Even when you try to convince yourself you should hang onto your job because you are lucky to have one, that business idea keeps boomeranging back. You know the world will be missing something important if you don’t do that thing you are obsessed with.
So what’s holding you back? Perceived job security? Fear? Overwhelm? If it’s timing, consider this: Birthing a business is like getting pregnant. If we waited for the perfect timing, many of us would be childless. I’m sure glad I didn’t wait until every single area of my life was in absolute order before deciding to have a baby or my wonderful son would never have been born. Nor would any of my businesses.
You’re reading this article -yes, YOU, and you read articles like this all the time. You obviously want to start your own business. You can wait until your kids are grown, your house is paid off, the economy picks up, you’re thinner and the stars are in perfect alignment but you know what? None of those factors will guarantee you’ll be any more successful. Fortunes are made in good economic times and during recessions. Entrepreneurs come in all shapes and ages and the only thing that really matters about the timing is that you are finally determined to make it a success.
So, my answer: NOW is the best time. Go for it. NOW. Because you can convince yourself you face all these risks but the biggest risk is the REGRET you’ll feel if you don’t even give it a try.
If you really, really want to do this, which you obviously do, join Barbara Winter and me at the Obstacle Buster Mastermind in May. We’ll pull the plug on excuses and roadblocks and help you make it happen NOW. HERE’S THE SCOOP.