If you’ve considered the idea of starting a business in 2015, you will have heard that this is potentially the greatest era to ever take the plunge.
Breaking the world of commerce is still difficult, and roughly one in two new companies fails to make it beyond the 12-month milestone. On the other hand, we’ve seen many examples where entrepreneurs have made it big in spite of having very humble beginnings.
It can’t be a coincidence. It still requires the same level of dedication and graft as ever before. Nonetheless, there is little doubt that the current climate is great for startup businesses to thrive. And the best ones are able to achieve success by capitalising on various aspects.
Progressions in technology, travel, and other key areas make this world feel smaller than ever. Carrying out market research and adapting previous ideas is easier than ever before. Successful entrepreneurs know exactly how to find a gap in the market. More importantly, the resources are there to exploit it.
One of the key reasons for this has been the ability to lower expenses. Modern tech facilities, combined with outsourcing, have enabled business owners to keep overheads modest. This can be particularly important in those early stages as it removes some of the pressure. If you ever look to start a company, keeping expenses down should be a major priority. After all, you cannot run before you can walk.
Another key aspect for the modern startup is that they appreciate the importance of marketing and winning over customers. First impressions count for everything. Setting professional vibes with great business cards will lay the foundations for great relationships. Meanwhile, a well-designed website and strong social media game can provide a huge boost.
Building those strong bonds and sparking interest is key to building an audience. However, the benefits don’t stop there. For many startups, these aspects can lead to a huge part of their funding. Unfortunately, business loans aren’t as easily required as they were in previous years. That’s where the power of the people comes in.
Creating great first impressions and establish strong connections can lead to opportunities for crowdfunding. This gives businesses the potential to earn money towards the cause. Furthermore, it’s a way of building a customer base at the same time.
These items can help business owners get their ideas off the ground. However, the current climate is also very accommodating for expansion. It’s now possible to set up a secondary business location without ever having to run the operation yourself. Quite frankly, this is one of the biggest reasons that startups can become huge in a very short period. There’s nothing quite like starting a successful franchise. When you add it to online sales, it’s no surprise that so many are doing so well.
Make no mistake, starting a company brings no guarantees. But following the right blueprint can give driven entrepreneurs a fantastic opportunity to thrive. And we don’t expect to see that trend anytime soon.
