Our President, John Enright, shared on Entreprenuer.com last month why he thinks the changing tides of the online landscape present a perfect opportunity to start a new business.
To read the full piece on Entreprenuer.com, click here.
Here’s a few highlights from the piece!
Regarding the impact of today’s online tools:
Today’s entrepreneur has access to a wider variety of tools and technologies than ever before —typically more cost effective and easier to use than they’ve ever been. Previously, people with a marketable idea often faced a lockout based on a lack of access to technological knowledge. Because, of course, getting a business rolling often requires basic programming knowledge, setting up a website, an email system, a mailing list, sales integration software and more. If you did not have that know-how, you had to invest in hired services, which is a significant investment.
Today, the tables have turned. Mobile web, social media, instant ecommerce solutions and automation technology have emerged in ways that put previously unheard-of power in the hands of a single individual or small group. Now, you can launch a basic site in an afternoon, and have the broad strokes of ecommerce and shipping logistics figured out in a day. You can launch a page on Facebook and begin running ads to bring in customers in under an hour, and go to Google to get a simple ad campaign going in the same amount of time. You can even farm out logo design, hire an app builder, order business cards, set up virtual phone systems and enlist workers from the comfort of a living room couch, at a price that was impossible just five years ago. It’s an environment in which dreamers can create rapid, cycled experiments, and to try, fix, and iterate elements like price, message, model, feature, etc… developing solutions and adaptations faster than ever.
Questions to ask yourself if you’re not sure if the time is right to start a new business:
When epochal changes crash over markets and societies, such as the Covid pandemic, it’s vital to recognize that you can be in a unique position to provide new-company solutions, keeping in mind the following questions:
-Is there a value that needs repairing?
-Can we do this cheaper, easier or faster?
-Are there customers that are not getting the message?
-Is there a solution to a problem that has not really found its way out there?
If you have affirmative answers to any of those, you are on the right track.
To read the rest of the piece on Entreprenuer.com, click here.
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