Why Now Is The Right Time To Start A Business

“I’m not really sure if now with all of the crisis going on in the world is the right time to start my business”. This is part of a discussion that I had with one of my client’s and I feel it’s important to really dissect this for my readers and what I’m about to share with you might surprise you so let’s dig in.

It’s true, our world is experiencing something that’s extremely difficult and the economy is in dire-straights for sure but is this client missing something? That’s what I’m going to discuss here in this article.

I specifically help consultants, coaches and freelancers who want to build their businesses online so I’ll only be talking to this demographic.

We realize that 2020 caused a TON of people to rethink the employee mindset and consider the entrepreneur mindset. These people are looking for alternate ways to make money as so many became unemployed or experienced a time without income due to the global crisis.

It’s not at all surprising that while these people are considering it, they are scared. What I’d like to say here straight away without messing around is that right now is actually a GREAT time to start a business.

It’s a mindset shift for sure, and most people who think about starting a business just sit on the fence and don’t take action. That’s a difficult thing to do when you’re being emotional about it.

I really understand this psychology. I remember when I first became separated from my now ex-husband and moved in the direction of opening my own brick and mortar skin spa. It was scary but you know how I did it.

I decided!

All of the odds were against me. I have three kiddos in tow, no money, I needed to go to school, then ultimately go into debt to get the equipment and products to open my doors.

Talk about scary!

Let’s get into some ACTION so you can get into your brand new business.

 

>> Related: How to start a coaching business.

 

Uncover Your Niche

Uncovering WHO you want to work with is crucial. I work with so many entrepreneurs that haven’t done the market research to figure this part out. They think it takes too long and and they’re nervous even considering talking to friends, family or total strangers but it’s a necessity.

As an online business coach who specializes in helping entrepreneurs grow their businesses online, I can tell you how not taking the time to do this market research will sabotage your business. You’ll see many famous companies who have done the research to “niche-down” to target you. Think about the BMW car lot. They are selling to a specific market and they’ve done their research and determined what their prospective buyers like so they can build the cars and the experience that helps get people in those cars. 

You can see this with web designers, software developers, and even virtual assistants. These entrepreneurs specialize in something they’re passionate about. They are extremely skilled in this area and know that there is a market out there with lots of people who want to spend their money for the solution they offer. 

Think about your skill. What can you offer people that solves a problem? What are you really great at and can talk about all day long?

Getting Off To a Great Start 

The clients that I’ve been working with over the years make more money than when they were going it alone. Since the first part of 2020 when the crisis hit, I’ve been teaching my clients how to polish various aspects in their business so they can adjust to the market. My clients, those that do the work… including the inner work of a strong mindset are the ones who make more money. 

These are the entrepreneurs who know that they have to mix things up a bit and pivot in order to attract the high-end clients they love to work with. 

Here we are in the digital age and we realize that anyone with a phone or a PC can make money online but what’s the difference between those that succeed online and those that fail? Typically those that do really well were able to…

• Roll with the changes in the market.
• Spend the time doing market research and craft their message to cater to a specific audience.

We all wish it was as simple as putting up a website and posting pretty pictures on social media to grow our businesses online but those that have been in business know this is definitely not the case!

The truth is, it’s not that simple and you’ll need a strategy and a strong mindset to deal with the pitfalls and roller coaster of entrepreneurship.

The Formula To Grow Your Business Online

At the very foundation of a strong online business, you’ll need to create a plan. Here are some basic concepts that you’ll need to master in your business when you’re thinking of getting started. 

• Learn to cultivate an audience online.
• Learn to keep your thoughts and feelings in check as you hit the bumps along the way with a strong mindset.
• Create amazing offers that are a no-brainer for your audience.
• Master your marketing message to attract the “right clients” to you. 
• Learn sales and how to overcome objections to enroll clients.
• Learn social media and how to shine on video.
• Adapt systems that help you to be more efficient.
• Consider learning passive income concepts and adopting them
• Going all in on building an email list to nurture your fans.
• Learn strategies to scale your business so you can continue to grow.

Implementing these basics into your business helps you to build it on purpose so you can avoid burnout and overwhelm.

Listen, right now absolutely IS the right time to start a business. People are spending more time at home than ever before with plenty of time to spare so I’m curious, what will YOU do with all that extra time?

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