In the last few years, the rules have changed. In fact, these days you don’t have to drain your pocket or savings account or even quit your day job in order to get your new start-up off the ground. There has never been a better time in human history to be an entrepreneur. The world has become connected. You can raise funding, create products and market globally. You can connect and collaborate with people anywhere in the world.
And here I will share to you the five things are making it easier for entrepreneurs to succeed.
Technology has drastically lowered costs. What used to cost thousands of dollars, may now cost hundreds or even less and this isn’t just for tech start-ups. Think about what every business needs. CRM, a website, inventory management, logistics. All of these things cost a small fraction of what they used to cost, just 5-6 years ago and expert advice is just a click away. Only a few years ago to put up a website and a logo would have cost you around $2,000-$3,000, however now you can have both for around $500.
There is no more job security. Your full time 9-5 job can go anytime especially in the current economic and social environment we live in.
Start-ups and entrepreneurship are now easier understood. I remember 10 years ago I wanted to convince one of my friends to join my company as a partner and I had to take his parents out for dinner in order to explain what a start-up is.
The innovation cycle is a lot faster. You can now run rapid repeat business experiments going through repeat cycles of try – do it – fix it, over and over again. Each step of the way you are experimenting with the product, the process, the pricing, the business model. And all of this without spending much time or money.
Social media. Facebook, Instagram, all other social media platforms, are making it easier to tell the world what you do. You create an FB page for your new company, you create an Instagram page, you integrate them and off you go, you can post and spread your message instantly. (we will talk about how to leverage social as a marketing tool in another article) Off course, it will take you some time to generate momentum and followers but with the use of technology and social media you can now market your services and products instantly to the world.
These five factors have dramatically shifted the start-up landscape and give thousands of new budding entrepreneurs a chance to get in the game. Are you ready to play the game of business?