- … is when you have to because you can’t stand not starting it. It’s been on your mind, you’re sure it will work.
- … was actually years ago; but the second best time is now.
- … is when you’ve thought it through, you know the risks, and you have a good realistic sense of challenges, keys to success, and likelihood of failure.
- … is when you’re comfortable with your estimates of starting costs, sales, costs, and expenses. They feel like they are reasonable educated guesses.
- … is when your spouse or significant other says “do it” and not “don’t do it.” Businesses fail and it’s not always something you did or didn’t do. Will failing at your own business kill important relationships?
- … is when you gather up the money your business plan says you need to be able to start.
Don’t worry too much about the larger economic, employment, and socio-economic trends. Your business depends on what you do. It’s micro economics, not macro economics. Huge enterprises swing with the national economy, but small businesses depend on the specifics of what you do, how well you execute, and how well you communicate and deliver value to your customers.
And for a completely different take on this, I suggest Jessica Ramirez’ 7 Reasons Why It’s Never Been Easier to Start a Business on Business Insider last week. She said:
- The Cloud Lightens Your Load
- You Can Outsource HR
- Prototypes Are Now DIY
- Apple’s iPad is Your New Virtual Assistant
- Apps Can Do Anything You Can’t Do
- You Can Geo-Target Your Customers
- Google Alert Your Way to a Better Customer Experience
What do you think?
Tim Berry is the founder and chairman of Palo Alto Software and Bplans.com. Follow him on Twitter @Timberry.
