Becoming your own boss by starting a business

Reasons to Start Your Dream Business

In some way or another, we’ve all imagined becoming our own boss. There is no better time than now to start a business if it is something you have always wanted to do. And We certainly don’t mean that in the sense of ‘there is no better moment than NOW,’.

With the epidemic and all, you might be wondering how it is a good time to start. However, there are compelling reasons why now is the perfect moment to start your dream business.

1. A Greater Number of Problems Equals a Greater Number of Business Opportunities.

Everyone would agree that the year 2020 was the most miserable for humanity. Our daily routines came to a halt as a result of lockdown, and we’re still figuring out how to do a lot of things while keeping social distance. The pandemic has brought new issues that must be addressed. And new difficulties mean new business opportunities. Come up with solutions to these issues, and you’ll have a fantastic business proposal on your hands. Swiggy, for example, cleverly leveraged the epidemic to expand its service from restaurant food delivery to grocery delivery during the shutdown.

Not only that, but the pandemic has shifted some trends as well. Small business help is one such trend that you may take advantage of. During the epidemic, users on social media began to notice and promote small companies to help them weather the storm. As a result, individuals prefer small business products/services to market giants.

2. Begin with a Side Hustle

We’re entering an era of hustle culture, where having a second source of income will be the rule rather than the exception. This is a positive thing because it means you don’t have to rely on just one source of money. During the epidemic, many of us learned the hard way how dangerous this is.

So, if you want to establish a business, you can do so as a side hustle while still working full-time. In this manner, you avoid taking a significant risk while still working on your ideal company. When the business picks up, you can make it a full-time job. If you’re still working from home, take advantage of this chance and time to launch your own company before the offices are completely open.

So many people have launched their home bakery businesses, jewelry businesses, and so on in the last few months, and it has taken off.

3. The emergence of More Talents and Skills

This is one of the most compelling reasons why the year 2021 is ideal for launching your dream company. Many companies have failed due to a lack of qualified employees. Due to a shortage of money, start-ups and small enterprises, in particular, are unable to hire qualified employees.

More talented people are unemployed today than ever before. This implies you have a pool of qualified and skilled candidates ready to work for you. Take advantage of the situation. Hire good people and foster a collaborative workplace. Then you’ll be on your way to achieving your goals.

6. Easier Customer Research

Do you recall the good old days? Salespeople used to knock on your door now and then and try to persuade you to buy something. Then some periodicals contained the samples, which many people bought solely for the samples. There are television commercials, billboards, and other forms of advertising. Businesses could only get people to see them through these methods, and they were costly!

4. Financial Self- sufficiency

Having solid full-time work meant you were financially independent until a few years ago. However, people have begun to recognize the need for financial independence. Because employers can fire employees on rare occasions, no job is secure any longer.

As a result, starting your own business is the best approach to achieve financial independence. Getting a paycheck every month and working a full-time job that isn’t engaging is nevertheless a wonderful thing. But picture doing something you enjoy while still earning money! You will have control over your income rather than working for the growth of someone else’s business.

5.  Location Independence

Until a few years ago, only travel bloggers and vloggers talked about being location independent and sang its virtues. However, the pandemic has made us realize that many of the jobs we do can be done from the comfort of our own homes.

Everything had to be moved on the internet during the closure. As a result, the internet now has more people (customers) and resources than ever before. People have grown accustomed to purchasing goods and services over the internet.

If you’ve fallen in love with the idea of working from home or having the ability to work from anywhere, 2021 is an excellent year to start an internet-based location independent firm.

6. Easier Customer Research

Do you recall the good old days? Salespeople used to knock on your door now and then and try to persuade you to buy something. Then some periodicals contained the samples, which many people bought solely for the samples. There are television commercials, billboards, and other forms of advertising. Businesses could only get people to see them through these methods, and they were costly!

If you’re just getting started in business, you don’t need to spend a lot of money on marketing and promotion. Simply create content for your business on free social media pages. This will take some time and effort, but it will not cost you anything. You can start advertising on social media if you have enough money to spend on marketing. It is less expensive, and you may reach a very specific audience.

In 2021, more people will use social media than ever before. The number has been slowly increasing for years, but the pandemic has accelerated the rate of increase. As a result, the means of reaching out to your clients is literally in your hands.

7. The Ability to Scale

We all want to see our earnings increase over time. Working full-time is unquestionably one of the best ways to achieve consistent financial progress. Every year, you get a raise, and every now and then, you get a promotion, and so on. However, we do not have complete control over this growth, and exponential growth is nearly impossible to achieve when climbing the corporate ladder.

However, if you have a business, you may exponentially grow and scale it. Let’s take the case of Saloni Srivastava, an Indian YouTuber. She began her career as a YouTuber, where she discussed house management, productivity, and finances. She built an online academy to teach skills to those who aspired to be their own boss throughout the years. She now makes a fair living from it, and she has lately established another program as well.

Only having your own business allows you to scale up like this.

8. Start with Small Capital

Is one of the main reasons you’ve never started your dream business due to a lack of funds? That rationale is no longer valid in 2021. The corporate world has transformed as a result of the internet era. You can get started right now with almost little money (unless you are fixated on opening a manufacturing business or setting up an office).

You can, for example, start a home food business without spending a lot of money. All you have to do now is go out and get the necessary items. Everything you need to know is available on the internet. If money is an issue, take a look around the internet; there are hundreds of company ideas that require very little capital.

9. Favorable Policies for Start-Ups

This is what I meant when I started the environment is ripe for business. That the country’s political and economic conditions are favorable to the establishment of new firms. This is fantastic news!

This type of chance does not come along very often. MSMEs (Micro, Small, and Medium Enterprises) are now regarded as the economic backbone of a country. As a result of the pandemic’s severe impact on this industry, the government has devised programs and regulations to assist survivors and encourage new business ventures.

Here are some of the adjustments made possible by the 2021 budget:

• MSMEs receive numerous benefits from the government through various schemes and subsidies. This year, it has set out Rs 15,700 crores for this sector, which is more than double the previous budget!
• Small company compliance activities have been minimized to ensure that you are not overburdened with legal obligations while running your firm.
• Previously, once a one-person company had grown to a certain size, it had to be changed into a private limited company. This obligatory change has been removed to allow solopreneurs more flexibility.

This certainly demonstrates that the government is ready to support new ventures. And, when the economy improves.