There’s No Time Like the Present

Posted by chucktrautman on July 2, 2020

So, will you be the next Bill Gates, Henry Luce, or Ted Turner? It’s certainly not impossible, and of course, you won’t know until you try, and now is certainly a great time to do just that.

Being a successful entrepreneur is not about having a huge idea; it’s about filling a need, solving a problem, and providing value. Your enterprise can certainly grow into something huge, but you don’t need a killer idea to start. Most businesses have morphed and evolved from where they started. The willingness to morph and evolve, always looking for ways to grow once you’ve launched is the sign of a true entrepreneur.

You may have colleagues or even family members who will question your decision to launch your business now; however, keep in mind that recessions are typically followed by periods of extraordinary growth. Since World War II, most of the recessions we’ve faced have lasted an average of ten months and those periods were followed by growth cycles that lasted an average of 50 months. While the most recent Great Recession exceeded the ten-month average, no one has a crystal ball that can predict how long the next growth cycle will last. Indicators are good that the worst part of the Great Recession is probably behind us. Employment statistics, the stock market, and the housing market are trending favorably.

Making the move and launching your business now is like investing in the stock market: you want to jump in and buy when stocks are low and starting to rise. You want to jump in and start your business before the next growth cycle really gets rolling.

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