4 Reasons That Now Is The Right Time To Start Your Own Dream Business

It may sound counterintuitive, but right now might be one of the best times to invest in yourself and make a change in your life by becoming a business owner. If you are one of the many who have been forced into retirement, furloughed, or let go, before looking for a new job where you are still at the mercy of your employer, why not take the time to really consider starting a new chapter in your life?

The pandemic is driving many workers to reevaluate where they are headed. Maybe your career isn’t going where you thought it was, or maybe your talents and skills are being wasted and your frustration is growing. This might be a great time to make a decision to control your own destiny by starting your own business. Here are some reasons why now might be the right time to be your own boss:

1)     You have been reexamining your life. If this is something you were thinking about pre-pandemic, that’s a sure sign it might be the right time to start a business. Maybe the pandemic solidified your realization that your work-life balance was off, or that your career wasn’t fulfilling, or that you needed to feel like you were making a difference in the world or your community. If you are struggling with finding the real meaning in life, taking charge of your own career might be the answer.

2)     You have been itching to change your career path. A signal that you need to follow a different road to success is if you have already thought about making a career change. The pandemic may actually provide the impetus you need to take charge of your destiny, whether the career change was forced on you or you have realized you are not happy. Take advantage of the situation and resolve to make the most of your talents by forging a new career.

3)     Your current employment situation could be looking more like retirement. Maybe you have been saving for retirement someday, but you weren’t expecting it to happen so soon. The pandemic has caused many employers to suggest their employees consider early retirement. If you have the means, using your savings or your early retirement buyout to fund your own success could be the best retirement plan ever. Running a business will be hard work, but the rewards are many. Creating more potential wealth for you and your family based on your own skills and talents might be the push that gets you out of your comfort zone and into an entrepreneurial success zone.

4)     The business community is ripe for new ideas and entrepreneurship. While there is still a pandemic, and many businesses are suffering, other entrepreneurs can turn that around by starting a new business that leases empty office spaces, hires local workers and brings the community together. Hard times bring about new innovative ideas and solutions that others feel inspired by. You could finally start that business you always dreamed about and help the community too.

There are many great reasons to start a business now, but you should also ask yourself if you are ready for a challenge, and ready to work harder than you have ever worked in your life. Be honest with yourself and decide how involved with your new business you want to be. Do you want to be in your business part-time, work 24/7, show up once in a while, or let someone else run things? Do you want a solo business where it’s all on you? The type of business you choose to go into makes a difference in your level of involvement and your level of investment.

Some people with an entrepreneurial spirit choose to purchase a franchise business, where they can still be their own boss, but have the stability, brand name recognition, and franchisor support when getting started, rather than start out from scratch on their own. Your success in any business depends on you and your confidence in your abilities, strong communications skills, willingness to create a plan and execute it, support from your family and to be flexible and open to make changes and adapt as needed to ensure success.

How do you find out what’s the best fit for you? One suggestion is to contact SCORE.org, an organization that provides entrepreneurs with a network of volunteers and former CEOs and CFOs who can offer advice about owning and running a business. If you think a franchise might be a good match for you, try contacting franchise.org to learn about the different types of franchises and investment options available. Now may truly be YOUR time to make a career change and be your own boss!

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