August 3rd, 2020
There Is Never A Perfect Time. So Why Not Start Now?
I started my business in 2008 at the height of The Great Recession. Not the best time to do so, but then again, there is never a perfect time. I don’t regret it and value the lessons I learned having to navigate high unemployment and tremendous economic uncertainty. Sound familiar? It seems like everything old is new again.
I’m not sure many people were thinking about the possibility of a pandemic throttling the US economy as they toasted the New Year last December, but here we are. Once again, high unemployment and economic anxiety (aside from the real fear of disease and death) have taken hold of the collective psyche.
If you are thinking of starting a business, do it now! This is not a typo.
Many employees and business owners are having to adjust their focus to survive and grow. Unemployed workers will start businesses out of necessity. Owners will pivot and deliver different products and methods of delivery to respond to the public.
Previously, I drove up to 700 miles per week seeing prospects and clients. Since mid-March, I have worked from home and virtually connected with my staff and prospects. The result? My business has not only increased and expanded into two new markets, but my car also has fewer miles than it would have. Video conferencing has become more acceptable with my clients, and allowed us all to be more efficient with our time.
The questions I am asking — and the ones I encourage you to ask, too — are:
- How can you use the current climate to change the way you do business?
- What products, services or methods you formerly offered no longer serve your market?
- What type of business have you delayed starting? Why not start it today?
- What is the best way to serve the public AND create profits for your business and employees?
The questions are usually easier than the answers, but the answers do exist. Take one step today and do things differently. Use this time as an opportunity to create. You may look back 12 years later and be grateful you did.
– Michael Arnold
President, Palmetto Partners LLC.