When is the best time to start a business?
With the status of micro-entrepreneur, it is easier today to start a business without a budget. But project leaders also often wonder about the period to be privileged to launch their business. Young graduates or professionals with long experience, the challenge is the same: to create a successful business. But is there an ideal time to succeed?
The Ideal Age to Start A Business
The professional situation of the future manager is of interest. Young graduates readily accept the sacrifices to be made. Above all, that in the end, they have little to sacrifice ... Indeed, students are rarely subject to strong financial or family obligations. In addition, their risk appetite is quite pronounced.
However, we are seeing more and more quarantines, with proven professional experience, embarking on entrepreneurship. Generally, these former executives or managers specialize in a very specific field (communication, management, etc.). They also carefully considered their project, sometimes over several years.
These new entrepreneurs also use their relational network, which was expanded during their years of employment. This well-supplied contact book allows them to launch their business more quickly.
However, this type of profile can be confronted with obstacles such as family habits, the desire to enjoy a family vacation each year, etc. Not to mention the insecurity of income, which can quickly weigh when you have current loans.
Age is therefore not decisive. There are advantages and disadvantages to starting young, like starting after a busy career!
Start Your Business in Times of Crisis
Many project leaders question the relevance of launching their business in times of crisis. Contrary to popular belief, these moments should not be systematically associated with an inevitable failure.
Despite the economic crisis, new players have established themselves in their market sector. Take the example of Mark Zuckerberg with Facebook or that of Google. In addition, during these periods, the majority of companies choose to reduce their number of employees and their operating costs. They prefer to turn occasionally to providers, which allows “young entrepreneurs” to offer their service offers. The promoters of projects evolving in the innovation sector, therefore, have all their chances to assert themselves as soon as their solutions allow savings.
Starting a Business After A Shock
Sometimes an important and abrupt event encourages a change of life. This is the case of a separation, bereavement or dismissal. Is it a good idea to get started right now? Hard to say ... Indeed, creating a business is not decided on a whim. This must be a carefully considered project. The advantages and disadvantages of freelance status deserve to be taken into account before giving up everything after a shock.
Now, if this project has been in your head for a while and this event removes the obstacles that prevented your decision, then it may be D-Day!
Becoming your own boss is not decided on a whim, but you should not hesitate too long either. Each entrepreneur has a personal vision of entrepreneurship. For some, starting young allows you to succeed faster. For others, having solid experience is the best way to find success.
Evaluate your personality, your market and your idea, it's the only way to know the ideal moment to get started.