Suddenly you receive the dreaded letter, the final notice from your boss that informs you that your services are no longer required!
With recession on the increase and the economic climate on the decrease, many people are currently finding themselves becoming victims of redundancy.
Redundancy can be a traumatic time for most, especially for those that rely heavily on that secure regular income. However, finding yourself in this situation does not have to be all doom and gloom. It is a bizarre but true fact that as the economy slows; the rate of new business start-ups increases. One factor that greatly contributes to this phenomenon is the large number of people who find themselves victims of redundancy. Rather than face the prospect of job hunting, application forms and interviews, many regard their situation as an ideal time to do something that they have wanted to do for a long time and start their own business.
There are many reasons why people decide to work for themselves. Perhaps in the past they did not have the time because they were too busy earning a living, or maybe they did not have the finances to cover the initial start-up costs. Some loathe the idea that their skills and experience line other people’s pockets; whereas others want to try something different, learn new skills and acquire new experiences. A large redundancy cheque can create any number of new opportunities that were not previously possible.
You may be thinking, "If a large number of people are all starting new businesses, why bother jumping on the bandwagon!" Competition is not a bad thing. In fact, competition often drives people to succeed in whatever endeavour they choose. It just means that you have to do things slightly different and better than your competition. It's surprising but true that in any economic slump there are always new opportunities opening up for people who are able to provide more personal or more innovative products and services. You just need to learn how to be forward thinking and creative in your endeavours! Business is all about competition. Alas, due to the very nature of competition in business, your competitors will always be trying to get one over on you too!
More good news though for the new business entrepreneur, day by day more and more companies are struggling due to the recession. These companies are either implementing cost-cutting exercises like downsizing or shutting up shop. The niche market they once controlled is now up for grabs! This situation provides new business with the opportunity to grab some of the market before established companies expand theirs.
Get on the Web
To have any kind of chance of succeeding once you get yourself up and running, you need to get your business online. An online business can be just as successful as a traditional high street ‘bricks and mortar’ business – perhaps even more so. Whatever business you decide to develop, a Website will be crucial to its success. It is vitally important that you are able to communicate effectively with your customers at all times.
Unfortunately, the Website design industry is no different to any other. It too is a business that functions to make money. An efficient Website that effectively builds credibility with your customers and makes you loads of money -- will cost you. If you have limited funds, getting a small starter Website that enables you to establish an Internet presence is a solid start. You can always add to it at a later date. It really doesn’t matter what sort of business you want to start up; having a Website is your permanent and personal online calling card. It will enable potential customers and clients to find you 24/7.
So, want to start up your own business? Got a brilliant business idea? Want to be one of those self-made success stories you often hear about? Now is probably a good chance to give it a go. But don’t expect an easy ride. I know I have been there! It has its draw backs. There’s long hours, tax returns and demanding customers. But working for oneself also has many advantages. My favourite is that I can work in my pyjamas. Only joking! I like the fact that I can work when it suits me.
Once you take the plunge, you will wonder why you didn’t do it sooner. Just think back on the days when you were employed and all the things you had to put up with. Starting up your own business and being self-employ means that you no longer need to tolerate such things and you will be the person who is in control of you!
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