Should starting a business be your next career move?
All across the country, people are facing major career setbacks. The pandemic has led to companies, in nearly every industry, losing business and profits. Even those at the top of the ladder can feel like their career is running stagnant in the face of global uncertainty.
If this rings true for you, starting a new business might be the career solution you’re looking for. After all, now is a great moment to capitalize on market changes and establish a company that’s strong from the start. Here’s a look at a few ways to tell if a new business might be a good next move for you:
You Already Have An Audience
Your online, and industry, persona can prime you for new business success. If you already have a reputation for expertise within your field (especially online) you can leverage this to your advantage. An established blog, for example, can give you a head start when it comes to marketing. The same principle applies to a wide audience on social media sites, such as Twitter or LinkedIn. If people are already listening, then it’s time to give them something worth paying attention to.
As you expand your audience reach, however, you’ll need to up your game. Reaching out to marketing pros in web development, or graphic design, can help you get off on the right foot for your new business. Remember, virtual services are more important now than ever. It’s absolutely vital to have a strong digital presence, from the start, in today’s market. Make sure your website and marketing materials (both digital and physical) are attractive, easy to read and offer an intuitive user experience.
You’ve Got An (Good) Idea
One clear sign that it’s time to start a new project is having an idea you’re excited about. However, CEOs know better than anyone that, all ideas are not created equal. It’s vital to evaluate your concept, critically, to make sure it’s actually strong enough to succeed. Today’s market offers a lot of possibilities, for the right company, but it might be brutal for the wrong one.
Start by checking out the competition, and seeing what already exists, in your field. You need to make sure your product, or service, stands out in some way. Your expertise, and reputation, can go a long way in this department. Pair it with an angle that addresses an unmet need in the market and you’re certain to knock it out of the park.
If you evaluate an idea and decide it’s not strong on its own, there are a couple of approaches you can take. You could simply let the idea go. However, some lackluster ideas can be workshopped into great concepts. Don’t rush to look past an idea if your gut says there’s something there. Instead, consult with trusted peers to get a sense for how you might work that spark into a full-fledge concept.
You’re Ready for a Change
Finally, one of the best signs that it’s time to start a new business is an urge to change up your circumstances. A stagnant career isn’t just bad on your resume – it’s bad for the mind. When you’re driven to create new things, and see your ideas manifest in reality, anything less can be a drain on your mental, and emotional, health. If you’re feeling unfulfilled, and unchallenged, now’s the time to start something great.
The market is ripe for new businesses ready to take it by storm. Even when the pandemic is behind us, certain aspects of our socially-distant lives are here to stay. A company built on virtual services, and remote work, could have a distinct advantage going forward. Now is your moment to create something built for the post-COVID world.
Lawrence Mager is a mental fitness expert researching how brain exercises can help reduce the risk of Alzheimer’s Disease. He enjoys writing about mental fitness games, puzzles and other resources.