Do you have an entrepreneurial itch that you can’t seem to scratch? Are you afraid of taking the plunge into self-employment? You’re not alone.
Starting your own business is a big decision, and it’s normal to feel unsure. Truth is, there’s no such thing as the ‘right’ time to start a business. If you’re wasting time waiting for the stars to align, you might be missing out on your chance to build something great.
Take stagflation, for example. We are on the verge of it. The last time it happened was in the 1970s. Fifty years on, stagflation is on the cards again. “It is the worst time to think of setting up a new business,” they say. “It is really a bad time to venture upon a new undertaking of any nature”. “Wait until things go back to normal”. “It is too risky now”. “Don’t you see the world is upside down?”.
It’s true that we are living through tough times. A devastating war created a humanitarian crisis and sent shockwaves through an already ailing global economy, a challenging phase where it is wise to treat every business decision with caution.
Today, consumers tend to scorn the finer things in life and value frugality and simplicity. A savings culture is prevailing. Nevertheless, life goes on. So does business, spending, profit and loss, risk and entrepreneurship. There will always be an appetite for new products and services. When did we ever live in a perfect moment without any conflicts or economic downturns?
Here’s why you should unshackle yourself from your fear of entrepreneurship and take the plunge today.
The timing may never be perfect
There will always be risk involved, no matter when you start. So why not take advantage of the youth and energy you have now? You’ll never have as much stamina or enthusiasm as you do in your 20s, 30s or even 40s. Use it to your advantage!
You’re not getting any younger
One of the biggest reasons to take the leap into entrepreneurship now is because you’re not getting any younger. The longer you wait to start your business, the less time you’ll have to enjoy its success.
You can always go back to 9-5
If you’re worried about not being able to go back to a traditional job if your business fails, don’t be. I’m not saying it will be easy, but it is possible. Unlike some other life choices — like having a child — starting a business is relatively reversible. If things don’t work out, you can always get another job and start over.
Failure is part of the process
Most businesses don’t make it past their first year. But that doesn’t mean you should give up on your dreams of entrepreneurship just because you’re afraid of failing. Failure is an essential part of the process—it’s how we learn and grow. If you’re never willing to fail, you’ll never know what success looks like. Embrace failure as part of the journey, and use it as motivation to keep going.
You have nothing to lose
What do you have to lose by taking the leap into entrepreneurship? What’s holding you back? Chances are, it’s fear—fear of the unknown, fear of failure, fear of not being good enough. And what do we always say about fear?
It’s false evidence that appears to be real. So instead of letting your fears hold you back, use them as motivation to take action.
Entrepreneurship is a learning process
Another reason why now is the time to start your own business is because entrepreneurship is a learning process. The more experience you have, the better equipped you’ll be to handle whatever challenges come your way. And trust me, there will be challenges. That’s just part of being an entrepreneur. But if you’re prepared to face those challenges head-on, you’ll be that much closer to achieving your goals.
If you’re harboring any doubts about entrepreneurship, it’s time to let them go. There’s no one-size-fits-all answer when it comes to starting your own business – what works for someone else may not work for you.
But that doesn’t mean you shouldn’t try. There are countless online resources that can guide you on your journey. Don’t be afraid to ask for help either; there are plenty of people out there who are more than happy to offer their support.
All it takes is a little courage and a lot of hard work. So take a step forward and get started. The only way to find out if entrepreneurship is right for you is to give it a shot. Who knows—you might just end up being the next big entrepreneur success story.