I have been asked a few times this week if now is a good time to start a business?
Normally I would say anytime is a good time, but there is one big stumbling block, meeting clients and others critical to starting your business. Yes, you can speak to them virtually but it’s not the same as meeting up in person.
But should that stop you? No not really!
If you have an idea and it’s a good one, that’s assuming you’ve validated it in all the usual ways, then I would say go for it. As most people hunker down and try to ride out this storm others will be growing their business in ways they never thought possible. This gives you an advantage because the competition is quiet.
All I would say is make sure you don’t come across as profiteering and lacking empathy for what people are going through. Yes, you’re dealing with real people not businesses.
First thing to do is speak to your accountant or bookkeeper and find out what’s available in the funding arena as you might get all the help you need financially to get started without having to wait.
The bottom line is if you have an idea and it’s a good one go for it.
WHAT ABOUT PIVOTING YOUR EXISTING BUSINESS?
This could mean doing something you wouldn’t normally do. So, say you’re a builder and work has dried up, you could help in the building and fitting out of the new hospitals etc, there is always work if you’re willing to make a few changes.
All I would say is be true to yourself and your business, only do what you feel comfortable doing.
Work is out there if you want it.