• seanreynolds8

Why I think 2020 is the best time to become an entrepreneur

We've been hearing it all year: No one got to live out their 2020 vision this year. It has been a year of doom and gloom for a lot of people. I know entrepreneurs who are going through some very tough times, but I am convinced that this year is the best year to be starting out as an entrepreneur.

And if you are reading this in any other year, right now is still the best time to be starting out.

Why would I say that? It sounds like crazy talk! Especially with the Pandemic going on.

There is nothing safe about having a job. I have survived two lay offs in my professional career. I have also been through some close calls where I decided to move on an jump ship. When you are employed by someone else, you are constantly at the mercy of whatever decisions your employer makes. You can be riding high for a while, but there are a lot of factors outside of your control. A market going down can kill your employer's business leading to you being retrenched. Perhaps changes in management happen and you are no longer required. Perhaps new technology leads to you being laid off as part of an efficiency drive.

On the other hand if you work for yourself, while you are still subject to market conditions you can pivot more easily. You are used to the uncertainty. You may have a business like my wife does: She teaches piano and if one client quits it is of minor impact compared to losing your employment.

My recommendation though is to start off as a side hustle. Perhaps you have a skill you can develop and work on while retaining your main employment? Perhaps there are services you can provide to other people on a part time basis that do not conflict with your current employment? (Avoid conflicts of interest: Do not work against your employer when off duty!)

What can you do today that will provide some value to the other people in your community and launch your business?

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