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10 Reasons Why Now Is the Best Time to Start a Business (If You Have a Good Idea)

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Ahoy, I’m Ryan Foland, and I’m here to share 10 reasons why now is a fantastic time to start your own business. I’ve created a new FREE course available on dotOnline Business Academy to help you generate your first idea. The course covers the core skills needed as an entrepreneur. The more skills you have increases the odds of making your ideas come to life, change the world, and make money at the same time! 

What are you waiting for? Keep reading this article to learn why now is the best time to launch your business. Then register for the course and take the next step to your own success. 

A new world

You have to understand that we live in a new digital world. 

Many things are changing and opportunities abound. If you think about problems you encounter daily, technology might exist to solve them. Or the technology might not have been invented yet. We’re living in an exciting time and it’s easier than ever to start a business. Consider your personal experiences, too, such as your relationships, health, and hobbies. 

Get creative with an online storefront

These days it’s never been easier to build your own website.  And your URL does not have to be a “dot com”. There are other great options, especially for online businesses, to help best reflect your product or service. Did you know that you can get a .Online (dotOnline) as your domain? It makes sense for doing online business, and it can be easy to remember, like my website, Ryan.Online. Check to see if there’s a domain that fits your new idea and use the code ‘GINGER’ to snag a big discount. You can also get a .Store (dotStore), like I have my StickFigure.Store

It’s cheaper than ever

Starting a business doesn’t require deep pockets. You can start a business as a side hustle with zero startup capital. That’s right. For example, what if you’re a dog walker? Well, you might have to buy some leashes, but we’re talking about really low barriers to entry here. Of course, if you’re creating a physical product, you will need to work out the logistics and a prototype, but there are ways to keep the costs economical.

Try a side hustle to make more money

Having some extra income is handy if you need to pay for an emergency or “fun” purchase. It also pays to save money to enjoy in the future, and have the added security of a backup to your full- or part-time job.

I’m a professional speaker and have spent the past six years scaling my business, on top of my job in higher education. But not everyone knows that it all started as a side hustle. The beauty of a side hustle is that it allows you to experiment with solving a problem without a ton of risk. If the side hustle fails, you can always start a new one.

Become philanthropic

If you want to create a business while being philanthropic at the same time, I highly recommend giving back to the charities you support. 

During the pandemic, I had to cancel my 40th birthday, which was going to be a huge bash with all my family and friends. I could’ve been bitter, but took the opportunity to create a #PandemicProject: build and launch my StickFigure.Store. Yes, you read that right! It’s a store with stick figure stuff. and all the net proceeds go to different charities that I support. I see it as a way to gain greater exposure as a stick figure artist and give back at the same time. 

Learn new skills

Starting a side hustle or a business requires a time investment to develop new skills, to help you stay competitive, whether you’re using a 3D printer to create a prototype or sharpening your graphic design skills. I’ll spend hours taking courses, reading books, or watching videos to fully understand how various processes work.

Like learning to build my own ecommerce website, and learning how to set up, shoot, and edit with a green screen to build better digital content! Once I’ve spent that time and gone through all the steps, I can teach my contractors or hire out others to complete the work I need to have done. The whole learning process is rewarding, stimulating, and humbling. 

Become a better leader

If you build a team or you’re working with contractors or freelancers, you’ll have the opportunity to develop and fine-tune your leadership skills. You’ll need to convey enthusiasm, confidence, and vision, even during times of personal or financial stress.

You’re steering the ship and making sure your crew can handle the choppiest of waters. A great entrepreneur is a great leader. So the sooner you start your path as an entrepreneur, it gives you more chances to flex your leadership muscles. 

Improve your speaking skills

I argue that if you speak in public then you are a public speaker; it’s a scientific fact that you cannot argue either. While building your own company or launching a side hustle, you’ll interface with many different people.

You’ll pitch ideas, network with people who can help you, and sell your services. By exposing yourself to open forums and industry networks you’ll naturally become a better communicator, and this can help you in all aspects of life. 

Funding comes in many forms

You can fund your business, get a business loan, crowdfund, and ask friends and family to help support your vision. Choose the method(s) that feel comfortable for you. I’ve worked with many startups who got their funding through crowdfunding, like the Bento Bag or Sensate. They had massive campaigns, but they all started in the same place. Who says you can’t do the same? You will never know unless you try!

Tax benefits

Starting a business also comes with some tax benefits, such as expenses you can write off. Or you can fund a Roth IRA for the year if you meet certain requirements and make at least $6,000 of income. I’m not an attorney or a CPA, so I recommend doing your research and then meeting with an accountant. 

These are your 10 reasons to start a business. Where do you start? It all begins with an idea. And that is why I want to share with you what I’ve learned in my years of being an entrepreneur and as a result of helping thousands of business owners craft and communicate their ideas. If you want me to help you come up with your next big idea, I can help. You can enroll in my new course for free!

If there is one thing I have learned as an entrepreneur, it’s that when you do, you learn!

My Course: Come Up With a Business Idea That Doesn’t Suck

In my new free course that is part of the .Online Business Academy, we will investigate and explore proven approaches to ideation that can inspire your next business venture or side hustle.

You will also learn how to pitch your new idea with the 3-1-3® Framework. The best idea, not explained in a compelling way, no longer is the best idea.

The good news is that there is only one prerequisite: The desire to build your own business, and/or develop a passion project.

Taking this course will help you with the following:

  • To realize that the best ideas are hiding in plain sight, disguised as problems
  • To develop creative thinking skills 
  • To understand the impact of cultural, historical, and technological contexts on your ideas
  • To develop your process for looking, questioning, thinking, making, and communicating new ideas
  • To use imagination to create something entirely new and innovative or to reinvent an old idea into something new and improved
  • To develop a structure for how you communicate your ideas

By the end of this course students should be able to:

  • Transform ideas and inspirations into real-world creations and/or applications
  • Experiment and problem solve through testing and iterating
  • Present and showcase one’s work process succinctly and articulately
  • Feel empowered to get creative, try things, and follow new ideas! 

I’ll see you in class! Registration is now open

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Written by Ryan Foland

Ryan Foland is a high energy speaker, podcast host, and consultant who teaches executives how to build their personal brands. His 3-1-3® Method uncovers core brand messaging to guide bespoke content marketing strategies. Ryan has given 4 TEDx talks and has been featured in Inc., Entrepreneur, Forbes, Fortune, and more. His award-winning book, Ditch the Act, teaches you how to get ahead in business by simply being human. For fun, Ryan sails, draws stick figures, and raps. Learn more at https://ryan.online

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