Is Now the Perfect Time to Start Your Business?

By Clifford Jones

My wife recently lost her sales job after fifteen years in her field. And, like millions of other Americans in the same situation, she has been forced to deal with the harsh reality of finding another job. Of course, for people like me and maybe even you, the much better option would be to start and grow our own businesses. While not everyone is cut out to live the life of an entrepreneur and put it all on the line, there are plenty of people saying “Good riddance” to their corporate lives and taking the plunge into the world of self-employment and entrepreneurship.

Is now the perfect time to start your business? Only you can be sure. While there may be no “perfect” time for any of us, here are a few things to consider:

1. The silver lining in our very messed-up economy is that millions of people are being forced to start their own business. (That’s a good thing, because that’s where job growth comes from!) The simple truth is that many people just don’t have a choice. And if you’re at all like me, you have a serious entrepreneurial spirit waiting to be unleashed on the universe. Nuts to finding another job! It’s time to take charge of your future. So, go for it!

2. Now is a fantastic time to start a business. Forget what you think you know about the economy and all the bad news we get blasted with every day. I believe that starting, funding, marketing, and growing a successful business is the best way to create real wealth for most people. It’s not as much about timing or the economy or what your relatives think. It’s about your burning desire to create and grow a business—to own your future—along with all the good, the bad, and the ugly.

3. Be honest with yourself. Some people just don’t have the time, interest, financial sense, or abilities to be in business for themselves. Carefully evaluate your desires, motivations, and level of enthusiasm and commitment. Talk with a professional advisor and friends. Take quiet time to really think it through.

4. I am often asked, “What’s the best business for me to start or buy?” The answer to that depends on what you can be really passionate about and committed to creating and building. Being successful in business requires luck, skill, and lots of hard work. If you can get really clear on your purpose for being in business, it’s much easier to maintain the energy, drive, and commitment to grow it. Believe me, you’ll need tons of energy.

5. Build a solid team of people around you from the start. I don’t mean that everyone gets a salary and big desk at your fancy corporate office. Quite the contrary—build a team of people who can help you with your business planning, tax planning, legal planning, trade names and intellectual property, sales, marketing, accounting and bookkeeping, sales calls, networking events, employees, benefits, compliance, technology, and more.

6. Get over the illusion of fear. Dream big. Get really clear on your positioning and the problems you will solve for your customers. Focus on generating new business from minute one! Create. Plan. Market. Sell (yes, it’s essential, but not in a bad way). Communicate. Keep score every day. And enjoy the journey of creating your future. Learn to love learning and take advantage of the many incredible resources online, such as Kaufman.org, youngentrepreneur.com for social networking, the U.S. Small Business Administration at sbaonline.sba.gov, The Edward Lowe Foundation at edwardlowe.org, and many others.

Now is a great time to start your business. And there are plenty of success stories in small business every day, regardless of what you might hear and read these days. Be inspired and create real wealth through entrepreneurship.