Episode 44 – When Is The Right Time To Start Your Business?
You don’t want to start at the wrong time and mess it up. You want to make sure you’re ready for this huge new stage in life.
But then you don’t want to waste time either.
We all learn at school it’s important to prepare, so which way is it? How prepared should you be?
Plus what if you have other stuff going on right now?
When should you start?
As long as you are not planning on selling something very seasonal, here are my recommendations on when to start your business.
When you’d like to do some more research
That sounded counter-intuitive, right? Of course, it is extremely important to research your market and know that what you are selling is something that people want.
That’s covering the basics.
Once you have spoken to potential clients and done some due diligence you are going to reach the point where you actually have to test the market.
For small and micro-businesses I recommend launching the most basic version of your product or service and seeing what response the market gives you. You can then work on improvements while still having your offer out there for the world to buy.
It’s better to find out early than to spend months “researching” only to discover that the market is telling you it wants something completely different!
When your business isn’t perfect
Whatever you launch is never going to be perfect, first time around. Whatever your business is, it will grow and evolve. Concentrate on getting version one out into the world. Then you can work on perfecting your offerings as you go along.
Of course, it’s nerve-wracking putting your stuff out into the world, but hold your head up high. It’s all part of the journey and things rarely feel perfect – even when they are!
When life isn’t perfect
There is never a time when life isn’t busy or when there aren’t other problems to solve. For that reason, it’s never a good time to wait until life is perfect, or nothing else is happening, because that time simply will never ever come.
If you have a major change coming up in let’s say the next month I would say wait, otherwise, start anyway.
Why delay creating a better life for yourself?
We tend to assume other people have it more together and don’t have the problems that we do but it’s more than often not true.
I found all this out the hard way when I had a cancer scare in the first year of my business.
I had to make the decision whether to put my business startup on hold or continue anyway. I chose to continue because I didn’t want to not have tried to do something that was important to me.
As it was within I think 6 months or so I was clear and it was all okay and I was able to put that episode behind me.
Then last week, in the middle of preparing for my book launch, which is the biggest project I’ve ever taken on in my business, one of my step children decides he wants to live with us and we are thrown in to finding schools, getting furniture, moving him and his stuff, school pick ups and drop offs and having to have food in the house, which is a massive change from having complete control over your time beforehand.
So just know, other people including the big names you admire had as much going on as you do and they started anyway.
It literally is THE ONLY way to start.
Time waits for no man. (Or woman) Right?
When you feel like you are not quite ready yet
Almost certainly the reason why you’d like to do some more research or you think your product isn’t ready yet or think things are too busy is ACTUALLY because you feel like you aren’t ready emotionally.
The most difficult part of going into business isn’t all the creating of websites and product designs and research, it’s actually overcoming your fears.
Fear of rejection, fear of (public) failure, fear of money dramas, fear of loss, fear of change. Your ego is trying to protect you. Starting a business really just brings up a lot of stuff.
The temptation to procrastinate is HUGE.
The best thing you can do for yourself is to just put it out there and start.
To state the absolute obvious – you’ll never get anywhere if you don’t start!
So when is the right time to start your business?
The right time to start your business is now (click to Tweet!).
Face your fears and just go for it!
And on that subject, I really encourage you to check out The Zero To Paying Clients Masterclass.
I go through step by step exactly what to do to start as well as letting you know exactly what you don’t need to be doing that most people will have you wasting time on.
See you there!