Now is the perfect time to start a business

Some may read the headline of this blog post and think to themselves, "Ron has fallen off his rocker!"  Given the difficult economic conditions, daily layoff announcements, and federal government bailouts, many may feel the best plan is to stay the course and ride out the financial storm.

I tend to prescribe to a slightly different philosophy, one that thrives on opportunity.  As Alexander Graham Bell famously once said, "when one door closes, another opens; but we often look so long and so regretfully upon the closed door that we do not see the one which has opened for us."  I challenge you to consider the current environment as not one filled with despair, but instead ripe with new opportunities for the picking.

I know this may be difficult to do, but I encourage you to not think about the potential for a pay cut or job loss.  Instead, see what is happening around us as wake-up call, a chance to re-evaluate your current career path and lifestyle choices.  Take some time to consider your answers to the following questions:

  • What are you most passionate about in life?
  • Does your current job involve something you truly love?
  • Are you following a path that allows you to achieve all your life goals?
  • Are you excited to go to work every day?
  • Do you feel your life has a sense of purpose?

There are always trade-offs in life, no matter the decision to be made.  For many of my parent's generation, the career path was easy -- find a good paying job at a solid company, know you would receive your weekly paycheck and benefits throughout a 30-year career, and retire to a good pension plan.  The reality is, in today's world there are no more guarantees.

No matter your talent, ability, or loyalty, a company still may not be able to meet it's financial obligations.  Unfortunately in such situations the workforce often needs to be reduced, and extremely capable employees lose the security of their job and a regular paycheck.

While there are certainly risks involved in starting a business, the potential benefits far outweigh them if the proper amount of planning and organizing is done in advance.  Running a small business provides freedom, self-sufficiency, and plenty of motivation.  Our country became successful because of the entrepreneurial and pioneering spirit of Americans.  If we are going to continue to evolve and grow as a country, it will be due to local small businesses paving the way for a better tomorrow, with exciting new ideas.